Winchester Ma Real Estate

Low Housing Inventory Means a Great Time to Sell in Winchester!

It's a great time to sell! Better Homes and Gardens The Shanahan Group's Nic Gatto explains why.

 

Low Inventory = Great Time to get Top Dollar for your House

The Winchester real estate market had a very good year in 2014 with average home values rising 6.3% from their 2013 levels, according to Zillow.com. Interest rates remain at record lows, with the average rate for a 30-year fixed rate mortgage currently at 3.86%. Qualified buyers are currently waiting on the sidelines to swoop in and purchase, even over-pay for homes. Winchester’s top rated school system, along with its close proximity and easy commuter rail access to Boston, has potential buyers lining up.

Right now only twelve of twenty-eight total properties for sale in Winchester are priced under $1Million. You don’t have to be Alan Greenspan to understand the principals of supply and demand, it is a very simple concept.

When there are only a few homes for sale and many qualified buyers, prices will inevitably rise. This places homeowners in a great position to sell their homes for the most money possible. 

Historically, sellers have placed their properties on the market at the start of spring, as that is the time of year buyers begin looking for new homes. Low inventory has thrown conventional thinking out the window. The laws of supply and demand dictate that getting your home on the market now is your best bet to get top dollar. In the past six months, sixty-seven properties have sold under 1 million dollars in Winchester, over 46% of them sold over asking price - and over 67% had an accepted offer that resulted in a sale in less than 30 days! If you have been considering selling your home, don’t hesitate. Now may be the best time in years to get top dollar for your home.

According to a recent report on WCVB.com, 2015 will be the biggest year in home sales in ten years. They state many reasons - from continuing low interest rates to pent up buyer demand, and the strength of the overall economy. Another factor indicated is that home owners’ equity has increased nearly 20% in Massachusetts and New Hampshire since 2011. This provides a lot of flexibility to home owners.

The Redfin Research Center in late December 2014 stated that the percentage of buyers who feel now is a good time to purchase a home, is up 6% from only this past summer. Furthermore, those buyers surveyed identified some of the top home characteristics they are looking for. The top two being-36% chose short commutes and close proximity to amenities (such as coffee shops), and 21.2% stated a highly rated school district as most crucial to their move. Winchester offers buyers both of these characteristics, therefore illustrating why Winchester is such a hot market.

 

My family has been in the real estate business since the 1940’s in the greater Boston area. I represent the third generation of real estate experts helping people buy and sell real estate. I am well-acquainted with Winchester. I grew up in town, and currently live here with my wife and our three children.

As in most professions, teamwork is essential in providing the best service, which is why you should choose Better Homes and Gardens Real Estate The Shanahan Group. We bring the highest level of professionalism and service to our clients. We have helped people buy and sell property in Winchester with a collected value over $47 Million in 2014.

Call or email me today to get your home in the “just sold” category for 2015. 

Nic Gatto

Be Good to this Place: The History of a House

This week was a busy one at Better Homes and Gardens The Shanahan Group. One of the highlights was listing a lovely colonial at 22 Nelson Street in Winchester. It's a home with character and love that you can feel and a history that has been passed down through families and time. We asked its current owners for a glimpse into 22 Nelson Street and what makes this place so special.

 

From the owners of 22 Nelson Street, Winchester

22 Nelson Street was built in 1897 for the parents of Virginia Foreman. It was wallpapered in July of 1898 by Gene B. Farrowwe know this because he signed the west wall of the living room in pencil, and Gene B. Farrow writes big. The house was re-papered in the 1960s (more signatures in pencil), and painted in 2008 by the Olenn family, who also added their names to the houses history.
 
Virginia Foremangrew up in the house, and did laps around the basement on her bike. We know this because our friend Chriss mom grew up just around the corner and rode her tricycle with Virginia. In the strange cabinet under the basement stairs is a certificate of musical accomplishment from Virginias early years, though we dont know what form that accomplishment took.
 
In time Virginia married Lawrence Hutchings, aka Hutch, and the newlyweds moved into this house to take care of Virginias ailing mother. Lawrence spent his career working at Hanscom Air Force base, which we know from his silver retirement bowl. Hutch was known and loved by many in the neighborhood, often inviting people over for a cocktail on the porch, and was one of the founders of the Jenks senior center. Hutch and Virginia had their own children here, a son and a daughter. The son, Bruce, followed in his fathers footsteps and became a pilot and lives in New Hampshire. The daughter has a son of her own and lives in Hopkinton, though weve forgotten her name.
 
All this means that we were only the second family to live in this historic home, and now you are the third. It is a good home, and the spirit of Hutch seems to linger at opportune times, when doing a home improvement project and finding that a much-needed obscure jar of God-knows-what just happens to be at hand, left behind by the old man.
 
Be good to this place, and it will be good to you.
 
22 Nelson St, Winchester MA
 
Come see 22 Nelson St at tomorrow's open house, Sunday June 8th. Karen Shanahan Garrett will be there from 11:30-1:00.
In the meantime, check out the video tour:22 Nelson Street, Winchester