First Sales of 2012 in Metrowest

In Natick, Wellesley, and Newton, 19 single family homes have sold so far this year for an average of $909,039, up from an average sale price of $770,168 during the first 12 days of 2011. While this is a very small sampling, it shows a great start to the year these towns, and with interest rates currently at an all time low of 3.65% for a 30 year fixed more buyers are on the market. 

Here are the first sales of the year:

65 Indian Ridge Rd Newton: $1,175,000

13 Heckle St Wellesley: $670,000

147 Woodcliff Rd Newton: $479,000

48 Water St Natick: $682,000 

59 Stuart Rd Newton: $716,000

253 Crafts St Newton: $566,000

30 Trowbridge Ave Newton: $1,360,000

42 Goddard St Newton: $497,500 

24 Berkeley Rd Wellesley: $747,500

6 Manor Ave Wellesley: $550,000

37 Levbert Rd Newton: $886,000

27 Alexander Rd Newton: $538,000

48 Ridge Hill Farm Rd Wellesley: $3,724,000

49 Walker St Newton: $557,000

26 Mandalay St Newton: $1,910,000

145 Morton St Newton: $818,750

8 Sessions St Wellesley: $800,000

2 Yorkshire Dr Natick: $485,000

17 Marion St Natick: $110,000

www.torykeithrealestate.com

Decorating for the holidays

A few decorating ideas for the season... 

Happy holidays!

Multi-Family Properties in Natick, Wellesley, and Newton

With sale prices and mortgage rates at a low and rents on the increase, more and more people are buying rental properties. While it can be difficult for a new investor to get financing on a property that is not a primary residence, cash buyers, owner-occupants, and those with a history of rental income or sufficient income to qualify for more than one mortgage if necessary, can do very well both in the short term and long term with multi-family homes. Rental income can provide immediate cash flow, while buying at the bottom of the market, particularly a property that has room for improvement, can generate a profit when sold years later.

In Natick, Wellesley, and Newton, the average sale price of a multi-family property increased 8% from an average of $528,000 in 2010 to $571,000 in 2011 (not accounting for sales that could take place during the 23 days left of the year). Still, there are good deals out there, particularly for anyone with the resources to handle a fixer-upper. 36 multi-families are currently on the market in these towns, from 2-family homes to mixed use buildings.

The following is a great calculator to determine return on investment, taking several factors into account: http://www.goodmortgage.com/Calculators/Investment_Property.html

For more information, please find my contact information as well as search for properties at www.torykeithrealestate.com.

Bang for your buck by town

Price per square foot isn't the best, or even close to a complete way to determine the value of an individual home, but it can give a general idea of how much space can be bought for the money in different towns. The following lists the average asking price per square foot in each Metrowest city or town.

Medway 164
Framingham 177
Millis 184
Ashland and Holliston 188
Southborough 210
Hopkinton 208
Natick 244
Waltham 245
Sudbury 247
Wayland 279
Medfield 281
Sherborn 304
Needham 318
Dover 341
Newton 358
Weston 412
Wellesley 420

While these prices look high to plenty of people in other parts of the country, looking at price per foot all over the world makes us seem like we're getting a pretty good deal.

Recent Natick and Wellesley Home Sales: November 2011

Ten single family homes have sold in the past week in Natick and Wellesley for an average of 95% of list prices. Additional information on these properties or on sales in other cities and towns is always available by request.

Natick
60 Washington Ave (3 bed Colonial): Sold $215,000
175 Hartford St (3 bed Ranch): Sold $318,125
7 Sheffield Rd (3 bed Ranch): Sold $336,000
7 Larchwood Ln (4 bed Raised Ranch): Sold $476,000
4 Barnesdale Rd (5 bed Colonial): Sold $646,500
20 Apple Ridge Dr (5 bed Colonial): Sold $1,500,000

Wellesley
58 Manor Ave (3 bed Cape): Sold $510,000
54 Bancroft Rd (3 bed Cape): Sold $617,500
52 Livermore Rd (5 bed Colonial): Sold $1,125,000
16 Highgate (5 bed Colonial): Sold $4,575,000

Recent Metrowest home sales: October 2011

Lots of people have mentioned how interested they are in seeing recent sales, so I'll focus on that a bit more than my regular market updates. If you're interested in any other information or sales for other towns in the area, please email me and I'll get you what you need. Of course, you can always do your own searches here (or if you're on a smart phone, here).

Single family home sales in the last week for a few Metrowest cities and towns (10/17/11-10/24/11) - prices shown are sale prices:

Natick
17 Belmore Rd (3 bed Cape): $335,000
12 Oak Knoll (3 bed Ranch): $336,800

Wellesley
22 Elm St (3 bed Colonial): $825,000
40 Whittier Rd (4 bed Colonial): $842,000
50 Woodlawn Ave (4 bed): $1,000,000
56 Temple Rd (4 bed Multi-Level): $1,100,000
81 Maugus Ave (4 bed Contemporary): $1,500,000
37 Garrison Rd (6 bed Colonial): $1,690,000

Newton
6 Philbrick Rd (3 bed Colonial): $504,000
12 Roosevelt Rd (3 bed Colonial): $526,000
106 Brookline St (3 bed Cape): $542,000
23 Hemlock Rd (3 bed Cape): $537,000
23 Marcellus Dr (3 bed Colonial): $725,000
186 Lincoln St (3 bed Colonial): $923,000
76 Cotton St (5 bed Colonial): $1,337,000

Needham
14 Hazel Ln (4 bed Split): $507,500
672 Chestnut St (5 bed Colonial): $2,040,000

Wayland
19 Oak/Timber (4 bed Cape): $374,000

2011 Yard Waste Pickup

Just when the lawn mowing ended, it's time for leaf blowers and rakes! Here's the important leaf and yard waste pickup info for Natick, Newton, Ashland, and Framingham. You can also drop off your own yard waste, and in most of the other Metrowest towns, it's taken by drop-off only.





Natick:
Yard waste will be picked up on Monday, 11/14, for Tuesday’s trash collection day.
Yard waste will be picked up on Monday, 11/21, for Wednesday’s trash collection day.
Yard waste will be picked up on Monday, 11/28, for Thursday’s trash collection day.
Yard waste will be picked up on Monday, 12/5, for Friday’s trash collection day.


Framingham:
Leaf pickup will be on regular trash days during the month of November.
Brush pickup will be 10/24-10/28 and 11/5-11/9.


Newton:
Yard waste pickup will continue through 12/5.


Ashland:
Yard waste will be picked up for 6 Mondays from 10/10-11/14.