Here we are, heading into the fall real estate market in Central Massachusetts. I have a lot of conversations about real estate, and the state of the market, every day. This is not me calling and bothering people – – these conversations are usually not initiated by me, but by someone connected to me in some way. Homeowners usually just want to check in to get a pulse on my opinion for the current and long-term view of the real estate market. Bottom line, many people live in their biggest asset and want to keep track of the value.
I recently had a conversation with a potential seller who is considering moving into a rental unit she owns, and selling her primary residence. Her thought was it would have a net difference of $1,500 a month, in the positive direction, if she made this move. She went to work the next day, and a coworker told her that if she waited until the rates go down, then the home prices (her sale price) would go up.
I’m never about pushing someone to sell when it’s not their time. When she called me and told me about the conversation with her coworker, I agreed that when the rates go down, the home sale prices tend to go up, but we’re no longer in the days of rapid spikes in market value over short periods of time. When she called me to update me, I told her if now it is not your time, it’s not your time. No harm, no foul – – I hope that our meeting was helpful to you in some way. But I also asked her to consider that for her coworker conversation to be a good plan for her, her property would have to appreciate in value by at least $1,500 every month, because remember the plan was to start banking that money. She hasn’t made a decision yet. It’s important to get different perspectives, but do make sure that you’re talking with a real estate professional before making decisions.
As far as the rates, they haven’t come down. Buyer demand is out there, houses are still going under agreement quickly and while home prices will still increase over time, it’s at a much more reasonable rate.
Houses that missed the mark on initial pricing are having price reductions, but at the same time, I’m seeing houses still selling for over, and sometimes significantly over, the listing price. PREPARATION has never been more important. I have a new listing where the timeline to get to market was quite tight. There was only one day I could get the photographer to the house, and only one day I could get the cleaner to the house—and as luck would have it, the photographer had to come BEFORE the cleaner. Not ideal. We took both appointments, and the seller and I attacked the house for hours before the photographer arrived–we shined everything visible and the photos and video look great. The cleaner came the next day and did her magic, so by the time prospective buyers come through, the place looks spotless. This isn’t because I like to clean other people’s houses in my spare time–it was just that I knew that best foot forward can’t be compromised when I tell sellers that I’m confident that my process will net them the most money and a transaction that meets their timeline.
I have a question and would appreciate any thoughts you have. I don’t like to bother people or reach out for any sort of fake reason. However, I’d also like to stay top of mind when you think of anything real estate related – – whether it’s for yourself, your adult children, your neighbor or even a friend moving across the country. What way could I stay in touch with you that you’d consider helpful and that keeps me top of mind, without me pretending to have remembered that it’s your birthday and sending you a card or calling you during dinner?
If you’ve found value in this newsletter, or if one of my resource stories, town guides, or even the magnet on your fridge has ever helped you, I’d be so grateful if you’d pass my contact details along with your personal recommendation. When someone you care about is thinking of making a move, or simply wondering what their home might be worth, I’m always here to offer grounded perspective and local insight. No pressure. No scripts. Just help when it’s needed. My business grows through kindness, trust, and people like you who believe in community. THANK YOU for being part of that.
Thinking of BUYING or SELLING residential property in Central Mass? Connect with me anytime!
Jennifer Shenk, Real Estate Broker
Keller Williams Realty North Central
107 Main Street, Westminster
Call/Text: 978 870 9260
Email: jennifershenk@kw.com
