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Over the years we have seen the real estate market in Boston increase steadily. The Hyde Park Multi-Family market has experienced a $100,000 value increase in the last 2 years. Multi-families were sold for an average price of $417,000 in 2014, today, they are sold for upwards of $523,000.  Multifamily homeowners must be ecstatic with this because they are recouping some equity and making a huge profit.

Multi Families 2014 2015 2016 (January to July)
# Sales 31 46 28
Average Sales Price $417,710 $450,087 $522,978
Days on Market (DOM) 58 84 79

Condominium values have risen slightly from last year but Hyde park is more of a family oriented neighborhood so we suspect single families and multifamilies are a more stable purchase in this area. 

Condominiums 2014 2015 2016 (January to July)
# Sales 29 29 16
Average Sales Price $244,712 $232,617 $240,573
Days on Market (DOM) 56 46 77

Single family sales are on track to surpass previous years with value steadily increasing. Families looking for a great neighborhood should consider Hyde Park as you still get some land and a decent sized home.

Single Families 2014 2015 2016 (January to July)
# Sales 99 116 55
Average Sales Price $353,837 $385,299 $392,760
Days on Market (DOM) 64 62 58

For more information on the Hyde Park market, contact your Hyde Park Real Estate Specialist Denisha McDonald

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Roslindale Real Estate Is on FIRE! Here’s What’s Selling…

Are you in the market to buy, rent or sell property in Roslindale? Before you make a move, understanding the local market condition can make all the difference. We’ve outlined below exactly what’s happening with Single Family, Multifamily, and condos in the area. All these number reflect what’s taken place over the last 6 months. 

Single Family Listings

Total Homes SOLD: 72

Average Living Area by Square Feet:   1,897.04

Average Listing Price:    $488,750

Average DOM (Days on Market): 40.15                                 

Average Sales Price:  $491,923   

Condominium Listings

Total Condos SOLD: 97

Average Living Area by Square Feet:   1,196.04

Average Listing Price:    $372,240

Average DOM (Days on Market): 25.15                                 

Average Sales Price:  $374,938

Multifamily Listings

Total Multifamily Buildings SOLD: 26

Average Living Area by Square Feet:   2,808.04

Average Listing Price:    $583,240

Average DOM (Days on Market): 65.15                                 

Average Sales Price:  $588,327  

Would you like to get your own FREE Sales and Rental Market Report catered to your specific area(s)? Just send a quick email to Contact@MandrellCo.com to receive your monthly report.  We can provide you similar data for any town or city in the commonwealth.

Please call us directly at 617-297-8641,  for custom reports or questions about the data provided.

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Price to Sell and Still Make a Profit

Many people think selling a house is a piece of cake. You list for the price you want and the buyers come running, or scrambling to have a bidding war on your property. Truth is, bidding wars occur on homes that are priced accurately based on the current market. The asking price you set for your home significantly affects how much you will profit and how long your home will sit on the market. Our agents understand their markets and what’s selling- or not selling. This knowledge will be invaluable in helping you determine the price. The objective is to find a price that is competitive to receive immediate offers yet wont leave money on the table.

Here are a couple points to consider:

Time

Time is not on your side when it comes to real estate. Studies show that the longer a house stays on the market, the less likely it is to sell for the original asking price. The reason being, everyone rushes to see a new house on the market and if the market does not warrant your price, then they keep looking for the next house on the market. Because all these buyers passed on your home, now you are forced to decrease your price to draw in a new crowd at a lower price point or attract the previous interests with the decreased price. Once potential buyers see you decrease your price, their next thought is… how low will you go? On comes the low ball offers. Therefore, if your goal is to make money, think about a price that will encourage buyer activity.
Value vs. Cost.

Pricing your home to sell in a timely fashion requires some objectivity. It’s important that you not confuse value with cost – in other words, how much you value your home versus what buyers are willing to pay for it. Don’t place too much emphasis on home improvements when calculating your price, because buyers may not share your taste. For instance, not everyone wants an in-ground pool or hand crafted railings. While there are people who really want these features and are willing to pay for it, you have now drastically reduced your buyers pool to those specific buyers. Quick real estate sales cater to the general buyer than a specific clientele because more people want what you have to offer. Dorchester is not ideal for a pool, but creating additional parking is a definite win, considering New England Winters.
Keep it simple.

Because time is of the essence, make it easy for the buyers. Remain flexible on when we can schedule showings.  Let’s Schedule a meeting, there are a lot of alternative options that can get you the most money for your home and accommodate your needs. It takes open communication, an open mind, flexibility and patience.
For more tips on selling your home and staging/decorating ideas, Be sure to connect with one of our agents in your area

 

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Key Facts to Selling Your Home (Part II)

In our previous post, we started discussing some key facts to selling your home. Today we will continue walking you through the home selling process. As we stated prior, there are several important facts to consider when working with your real estate agent beyond just listing your home and waiting for offers to roll in. Here we will review the remainder of the process to get your home to SOLD status.

Receive an offer.

Once we receive a written offer for your home, together, we will review the proposed contract, taking care to understand what is required of both parties to execute the transaction. At this point, you have three options: accept the contract as is, accept it with changes (a counteroffer), or reject it. Remember: Once both parties have signed a written offer, the document becomes legally binding. If you have any questions or concerns, be certain to address them with me right away.

Negotiate to sell.

Most offers to purchase your home will require some negotiating to come to a win-win agreement. Our agents are well versed on the intricacies of the contracts used in Massachusetts and Rhode Island and will protect your best interest throughout the negotiation process. Hyde Park is an up and coming neighborhood in Boston that new families desire as it provides a suburban feel in an urban environment. Helping buyers see this as a commodity in why they should move forward is one of our strategies. 

Prepare to close.

Once you accept an offer to sell your house, we will make a list of all the things you and the buyer must do before closing. The buyer will have the property formally inspected, and appraised, and again negotiate any repairs if necessary. If each procedure returns acceptable results as defined by the contract, then the sale may continue. If there are problems with the home during inspection, the terms set forth in the contract will dictate your next step.

Close the deal.

“Closing” refers to the day when proceedings for ownership of the property is legally transferred to the buyer. The Mandrell Company will be present during the closing to guide you through the process and make sure everything goes as planned.
Selling a home is an emotional experience whether happy or sad. We will be by your side every step of the way to ensure a smooth process and eliminate as much stress as possible.
For more information on how The Mandrell Company can help you sell your home in 30 days, call today: 617-297-8641!

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Key Facts to Selling Your Home (Part I)

When selling your home, there are several important facts to consider when working with your real estate agent beyond just listing your home and waiting for offers to roll in. Below is a BRIEF overview. For detailed outline of the process, please contact us.
Define your needs.

Write down all the reasons for selling your home. Ask yourself, “Why do I want to sell and what is my ultimate goal after the sale?” For example, a job opportunity in another city may necessitate your move, a growing family may prompt your need for a larger home or conversely children moving out may signal it is time to downsize. For your goals, write down if you’d like to sell your house within a certain time frame or make a particular profit margin. Together, we can map out the best path to achieve your objectives and set a realistic time frame for the sale.

Name your price.

Your next objective should be to determine the best possible selling price for your house.Currently, the Roxbury Market is booming, you want to price your home to get the most traffic.  Setting a fair asking price from the outset will generate the most activity on your home. We know what comparable homes are selling for in your area and the average time those homes are sitting on the market. Remember: You’re always better off setting a fair market value price than setting your price too high. Studies show that homes priced above their market value take longer to sell. If your home sits on the market for too long, potential buyers may think there is something wrong with the property. 
Prepare your home.

Most of us don’t keep our homes in “showroom” condition. If you have kids, at any given moment, it can look like a bomb exploded in your living room. The condition of your home will affect how quickly it sells and the price the buyer is willing to offer. First impressions are the most important. As your real estate firm, we can help you take a fresh look at your home and suggest ways to stage it and make it more appealing to buyers. We can provide feedback on inexpensive things if you are on a tight budget. You want buyers to envision themselves in “their new home” NOT Your current home.
Get the word out.

Now that you are ready to sell, we will implement the marketing strategy specifically designed for your home. There are many ways to get the word out, including: The Internet, Yard signs, Open houses, Media advertising, Agent-to-agent referrals, and direct mail marketing campaigns. In addition to listing your home on the MLS, we will use a combination of these tactics to bring the most qualified buyers to your home. We also host monthly seminars to help potential buyers get pre-approved to purchase a home. We cover a range of topics with the goal of helping attendees improve their credit, earn a higher income, and understand the home buying process from start to finish. We are also very active in and around the community. Our Roxbury real estate consultant Terrance Moreau can be seen mingling with community members in Dudley Cafe, speaking with home owners and providing feedback to homeowners because he is passionate about his community.

Be sure to check back for Part II of this series.

For questions, feel free to contact our office at 617-297-8641 or email us at Contact@MandrellCo.com.

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Are you in the market to buy, rent or sell property in the Mattapan area of Boston? Before you make a move, understanding the local market can make all the difference. We’ve outlined below exactly whats happened in the single family, multi family and rental markets of Mattapan over the last 6 months. Take a look at the numbers and see where you fit in.

Single Family

Total Homes SOLD: 9

Average Living Area by Square Feet: 1,489

Average Listing Price: $278,333

Average DOM (Days on Market): 60.33

Average Sales Price: $284,436

Multifamily Family

Total Homes SOLD: 8

Average Living Area by Square Feet: 3,296

Average Listing Price: $444,038

Average DOM (Days on Market): 20.23

Average Sales Price: $451,412

Condo Units

Total Condos SOLD: 3

Average Living Area by Square Feet: 1,046

Average Listing Price: $167,967

Average DOM (Days on Market): 64.93

Average Sales Price: $170,986

Rental Units

Average Rent for 1 Bedroom Units: $1,025

Average Rent for 2 Bedroom Units: $1,552

Average Rent for 3 Bedroom Units: $1,783

Average Rent for 4 Bedroom Units: $2,123

 

Would you like to get your own FREE Sales and Rental Market Report catered to your specific area(s)? Just send a quick email to Contact@MandrellCo.com to receive your monthly report.  We can provide you similar data for any town or city in the commonwealth.

Please call us directly at 617-297-8641, for custom reports or questions about the data provided.

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Are you in the market to buy, rent or sell property in the Hyde Parka area of Boston? Before you make a move, understanding the local market can make all the difference. We’ve outlined below exactly whats happened in the single family, multi family and rental markets of Hyde Park over the last 6 months. Take a look at the numbers and see where you fit in.

Single Family

Total Homes SOLD: 47

Average Living Area by Square Feet: 1,739

Average Listing Price: $391,369

Average DOM (Days on Market): 71.25

Average Sales Price: $391,895

– The average sales price is slightly higher than the average listing price which means buyers are paying above asking price for single family homes in Hyde Park.

Multifamily Family

Total Homes SOLD: 17

Average Living Area by Square Feet: 2,654

Average Listing Price: $461,200

Average DOM (Days on Market): 78.23

Average Sales Price: $436,412

Condo Units

Total Homes SOLD: 12

Average Living Area by Square Feet: 1,174

Average Listing Price: $216,369

Average DOM (Days on Market): 60.93

Average Sales Price: $214,958

Rental Units

Average Rent for 1 Bedroom Units: $1,315

Average Rent for 2 Bedroom Units: $1,650

Average Rent for 3 Bedroom Units: $1,983

Average Rent for 4 Bedroom Units: $2,425

 

Would you like to get your own FREE Sales and Rental Market Report catered to your specific area(s)? Just send a quick email to Contact@MandrellCo.com to receive your monthly report.  We can provide you similar data for any town or city in the commonwealth.

Please call us directly at 617-297-8641, for custom reports or questions about the data provided.

 

 

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Pending home sales in Massachusetts climbed 36 percent in June, compared with the same month last year, according to a new report from the Massachusetts Association of Realtors (MAR).

There were 7,316 homes put under agreement in June of this year, compared with 5,349 in June 2014, with median prices of $375,000 and $364,900, respectively. Condominium sales increased to 2,777 in June 2015 from 2,082 in June 2014 – an increase of 33 percent – with the median price dropping to $330,000 from $332,000.

“The summer market is heating up. June was a very active month even with the usual end-of-school activities and graduation celebrations,” MAR President Corinne Fitzgerald, broker/owner of FITZGERALD Real Estate in Greenfield, said in a statement. “Buyers are out there, and they are making offers. Sellers who price their house correctly are benefiting from all this activity and entering into agreements shortly after they are listed.”

Want to find out how your neighborhood is doing and what homes are selling? Send us an email at Contact@MandrellCo.com and request a FREE market report. We can help you gain complete insight into your real estate market by showing you exactly what homes are selling and what buyers are paying for them. Give us a shout today!
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Boston Land Transactions – Take A Look At What Sold

Here are the most recent 25 land sales from Boston and the rest of Suffolk County. Sales range from $20,000 in Chelsea to $4,000,000 in South Boston.

 

SLD 63 Highland St Chelsea, MA 0.03 Residential acres (1425 sq.ft.)  $20,000
SLD 170 Tremont St Boston, MA 0 Parking acres (0 sq.ft.) $34,900
SLD 10 Everton St Boston, MA : Dorchester 0.08 Residential acres (3301 sq.ft.)  $25,000
SLD 11 havelock st Boston, MA : Dorchester 0.09 Residential acres (4000 sq.ft.)  $45,000
SLD 21 Father Francis Gilday Boston, MA : South End 0.02 Parking acres (999 sq.ft.)  $59,000
SLD 151 Tremont UL308 Boston, MA : Midtown 0 Parking acres (0 sq.ft.)  $64,000
SLD 2 Rollins St. L2- 179/180 Boston, MA : South End 0 Parking acres (0 sq.ft.)  $66,000
SLD 2 Rollins St. L2- 246/247 Boston, MA : South End 0 Parking acres (0 sq.ft.) $66,500
SLD 15 Balina Pl Boston, MA : Dorchester 0.11 Residential acres (4907 sq.ft.)  $90,000
SLD 1313 Washington Street U:L115 Boston, MA : South End 0.01 Parking acres (500 sq.ft.)  $120,000
SLD 29 Lawrence Ave Boston, MA : Dorchester 0.15 Residential acres (6431 sq.ft.)  $115,000
SLD 18 Albion St Boston, MA : Roxbury 0.11 Residential acres (5000 sq.ft.)  $83,000
SLD 42 Olney St Boston, MA : Dorchester 0.27 Residential acres (11756 sq.ft.)  $135,000
SLD 336 Beacon Boston, MA : Back Bay 0 Parking acres (0 sq.ft.) [ $170,000
SLD 0 Geneva St Boston, MA : East Boston 0.06 Residential acres (2800 sq.ft.)  $170,000
SLD 312 Sumner St Boston, MA : East Boston 0.05 Residential acres (2250 sq.ft.)  $291,000
SLD 148 Warren Avenue U:PKG Boston, MA : South End 229.57 Parking acres (9999999 sq.ft.)  $225,000
SLD 120 Bolton Street Boston, MA : South Boston 0.02 Residential acres (892 sq.ft.)  $249,000
SLD 0 Goldie Lot 4 Revere, MA 0.22 Residential acres (9554 sq.ft.)  $245,000
SLD 19-25 Ufford Street Boston, MA : Dorchester 0.3 Residential acres (13227 sq.ft.)  $220,000
SLD 21 Custer St. Boston, MA : Jamaica Plain 0.16 Residential acres (6935 sq.ft.)  $585,000
SLD 101 Summer Street Boston, MA 2.14 Residential acres (93218 sq.ft.)  $585,000
SLD 165-167 Bowen + 217 D + 80,84 Baxter Boston, MA : South Boston 0.13 Residential acres (5869 sq.ft.)  $1,631,500
SLD 1266 Soldiers Field Rd Boston, MA : Brighton 0.72 Residential acres (31363 sq.ft.)  $4,450,000
SLD 170 W.Broadway Boston, MA : South Boston 0.4 Commercial acres (17399 sq.ft.)  $4,000,000

Are you interested in land opportunities in Suffolk County or other areas in Massachusetts? Would you like to receive available listings? Send us a quick message with your name, email and the neighborhoods where you have interest. We can email you a list within 24 hours or your request.

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It may be cold outside, but Boston’s multi-family real estate market is red hot! I have buyers coming into my office everyday looking for 2–4 family properties all over the city. Not only are they dying for more inventory to hit the market, they’re paying a premium when it does!

My name is Willie Mandrell, and I work exclusively with multi-family buyers and sellers in the Boston area. If you have any interest in selling in the near future, please give me a call.  I have a list of buyers waiting for me to show them the next opportunity and with the vast amount of competition I can ensure you’ll receive top dollar for your home. Before you do decide to do any repairs please call me! I have many clients that would prefer to buy your property “as is” and make their own upgrades.

Even if you are not interest in selling at this time, let’s still chat.  My office offers a great tenant location service as well as full service property management. Don’t waste your precious time showing apartments yourself, we can help you find well qualified renters for your empty units. We locate great tenants at no cost to you!

To learn more about me and my company, please visit my web site at www.MandrellCo.com.  If you’re ready to list your property for sale, or for a no obligation value analysis, give me a call at 617-297-8641
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