Blog :: 01-2012
Shanahan Real Estate Group's June O'Keefe Burt offers her perspective on the market today and how to use absorption rate as an indicator of buyer and seller activity. Thanks, June!
We at Shanahan Real Estate Group wish to personally extend our best wishes to you for 2012. On the business side, we thought it would prove helpful, if you are considering buying or selling a home in 2012, to present some data that will clearly show the state of the market in our area. Real Estate is governed by the law of supply and demand; as such it is helpful to put a metric in place to judge the level of sales activity. The ABSORPTION RATE compares how many homes are for sale (the supply) to how many homes sold that month (the demand). We can then determine how many months it would take for all the homes currently listed for sale to sell at the current pace of sales. A balanced market is one that has anywhere between 2-4 months of inventory. Anything over 4 would favor buyers (more selection) and anything less than 2 would favor sellers(less options for the buyers). The numbers for the last six months in Winchester single family sales indicate an absorption rate of 3 months. Taken independently, this number is an extremely positive statistic for Winchester single family sales. From a sellers standpoint, this indicates that there is a qualified buyer pool for a well -priced home for sale. From a buyers standpoint, it indicates a balanced activity level and alleviates concerns of overpaying for a home in our current market. We anticipate as the spring market gets rolling, there will be increased levels of inventory, however, as anyone who has purchased a home in any spring market will tell you, there is an increased buyer pool as well. Winchester continues to outperform the market, even in these uncertain times. Happy 2012!
This week, Shanahan Real Estate Group's Rebecca Brennan-Laird attended the joint meeting of the Winchester Rotary Club and Winchester Chamber of Commerce. Below is Rebecca's post:
Today the Winchester Chamber of Commerce joined the Winchester Rotary Club for their weekly lunch meeting. It was a great opportunity to catch up with business owners and Rotary members in town. Our first speaker was Mary Ellen Lannon, Winchester's Town Clerk, who spoke about the census and redistricting and her term as acting Town Manager. Mary Ellen was followed by our new Town Manager, Richard Howard, who has been on the job for a total of seven days. Richard spoke about his background and experience and his enthusiasm for his new position in Winchester. It was great for us to meet him and for him to have the opportunity to meet so many business professionals in town. We look forward to working with him as he settles into his new position.
This week, Shanahan Real Estate Group presents a new listing for sale at 1 Oneida Circle, Winchester MA. This beautifully renovated home is a model for effectively combining old-world character, modern amenities and even green technologies for energy conservation.
Fabulous New Construction 1926 Dutch Colonial was completely gutted to the studs and totally re-built with an extensive new addition in 2011. This unique 2,882 square foot home has 4 bedrooms, 2 baths and every amenity imaginable. Fabulous child-friendly neighborhood is located within easy walking distance to top-rated Ambrose Elementary School, MBTA train service to Boston, and Winchester Center. Custom built with the character and quality of yesteryear, but everything is BRAND NEW.
Unique Features of 1 Oneida Circle
- Property sits on Registered Land (land boundaries and title guaranteed by the state)
- Sited on a 6,400 square foot corner lot that feels much larger
- Four bedrooms including large Master Suite with His & Hers walk-in closets
- 2 baths with marble floors
- Red oak hardwood floors throughout
- Formal Living Room and Dining Room with wainscot & niche for China cabinet
- Open concept floor plan with Kitchen, Breakfast Area, and Family Room with gas fireplace
- Double slider from Breakfast Area to 12x 22 Deck and rear yard
- First floor Office with an additional built-in Desk alcove in Kitchen
- Finished Lower Level with Family Room, Mud/Laundry Room, and Exercise/Storage Room
- Oversized 2 car Garage with Carriage House style garage doors and separate walking door
- Pull-down stairs provide easy access to attic storage
Green Features of 1 Oneida Circle, Winchester MA
- Closed-cell spray foam insulation installed in previously existing portion of house provides at least R-21 in the walls and R-38 in Attic rafters creating a fully conditioned space in Attic
- R-21 Fiberglass insulation located in new portion of house with 2x6 walls
- R-38 Fiberglass insulation located in ceiling of new portion of house
- 1 rigid foam insulation installed under finished Lower Level floor
- 96+% efficient American Standard HVAC Units in both Basement and conditioned Attic
- Two 13 SEER Heil central air conditioning compressors
- Two separate heating/cooling zones (1st Floor/Lower Level, and 2nd Floor)
- Bradford White Energy Saver 75 gallon gas hot water heater
- Energy Star-rated 7-day programmable thermostats in Family Room and Master Bedroom
- Energy Star-rated Windows/Doors/Skylights
- Andersen 400-Series windows with Low-E insulating glass and simulated true divided lights for architectural integrity
- Velux skylight in Master Shower and Velux Sun Tunnel skylight in Master Bath
- Jeld-Wen Front Entry Door and Garage Walking Door
- Therma-Tru Side Porch Door
- Energy Star-rated Bosch kitchen appliances with water-efficient dishwasher
- Energy-efficient lighting
- 55 LED recessed can lights (provide 65 watts of light each for 14.5 watts of usage)
- LED under-cabinet lights in Kitchen
- Fluorescent/CFL/Xenon lights in almost all other locations
- Pilot-less Intellifire Heatilator gas fireplace
- Conduit run from Attic to Lower Level Utility Room to facilitate future solar panel installation
- Conduit run from Garage to Lower Level Utility Room to facilitate the installation of future electric car charging stations
- Abundant natural lighting throughout minimizes need to use artificial lighting during daytime
- Water-efficient Kohler Wellworth toilets use just 1.28 gallons of water per flush
- Landscape Irrigation system uses water-efficient drip irrigation in planting beds. Rain sensor prevents unnecessary watering when not needed.
- Lawn was winterized with Organic root-building fertilizer