From the Office of Lisa Keshet |
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FALL 2020 REAL ESTATE UPDATE Welcome Boston Medical Center!
The Frontline Thank-You Home Benefit Program of Unlimited Sotheby’s (founded and managed by Lisa Keshet) is happy to welcome the Boston Medical Center community to this benefit program. They join MGH as early participants in the new rewards program that is open to all hospital employees and bio-tech companies in Greater Boston. One of the many lessons that COVID-19 has taught us is how important medical professionals and the science community are to our very existence. Therefore, as an expression of our gratitude, the Frontline Thank-You Home Benefit Program has been transformed into a permanent real estate rewards program for all hospital employees in Greater Boston.
Frontline Thank-You Home Benefit Program
Eligible employees of the Frontline program work with a participating real estate professional at Unlimited Sotheby’s to buy or sell a home and receive a 20% cash rebate after closing. Offers valid until 12.31.2020 and then the rewards will be reviewed and renewed annually. More than just a rewards program, the Frontline Thank-You Home Benefit Program offers superior real estate advising from highly trained real estate professionals associated with a best-in-class real estate brokerage.
Additional Frontline Services and Discounts: - 100% discount on mortgage lending fees (buyers)
- 50% discount on real estate attorney fees (buyers & sellers)
- FREE real estate advising and webinars
- Rebates on Premium Services for the buying and selling of high-end properties, real estate investment advising, relocations and more
Now available for the Bio-tech Community! As an expression of our appreciation for their work during COVID-19, the Frontline Thank-You Home Benefit Program is being extended to local bio-tech companies that are working on vaccines, therapeutics and test kits. PLEASE REACH-OUT IF YOU WOULD LIKE MORE INFORMATION ABOUT HOW TO ACCESS THE FRONTLINE THANK-YOU HOME BENEFIT PROGRAM FOR YOUR HOSPITAL OR BIO-TECH COMPANY. |
Home Buying Webinar Wednesday, October 7th, 8:00pm-9:00pm |
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The October Homebuying Webinar is open to buyers at all homebuying stages and will cover the following topics: Greater Boston Real Estate Market Overview, Fall Real Estate Market Trends, Mortgage Pre-approval Process, and the Role of the Real Estate Attorney. For more details about the Frontline Thank-You Home Benefit Program and/or to register for the Webinar via ZOOM, contact Lisa Keshet at 617.902.8205 or lisa.keshet@unlimitedsir.com |
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Trends in the Fall Real Estate Market
The Fall real estate market in Greater Boston is often referred to as the secondary market. Typically, most homes for sale are put on the market in the Spring during the primary market (when the New England weather begins to warm up). Our real estate market is heavily influenced by the interaction between academic schedules and seasons with most buyers preferring to close on their homes by the beginning of the September academic calendar.
In the Greater Boston area, demand for housing is strong due to a robust economy with growth-producing employment segments in biotech, information technology, higher education, medicine, and finance. These economic factors coupled with quality public schools and health care, creates a seller’s real estate market. This results in the vast majority of homes being absorbed (bought) in the primary Spring market.
After Labor Day, the secondary Fall real estate market opens with a new batch of homes coming on the real estate market. Demand tends to be lower in the Fall and prices should be lower as well. This makes Fall an excellent time to purchase a home especially for those buyers who don’t have to sell a home in order to buy one. In most real estate markets in Greater Boston, housing inventory has been further reduced due to COVID-19. For buyers looking to purchase a home this Fall, have your pre-approval and buying strategy in place so that you can move forward when the right property comes on the market. The Fall inventory is highest before Thanksgiving when you’re most likely to find a great home at Fall prices.
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YTD Market Comparison 2019-2020 (Brookline) |
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Now six months into COVID-19 restrictions, most real estate markets in Greater Boston have recovered somewhat in terms of sales numbers although most markets are still below their annual sales volume when compared to 2019. Remember, one of the strongest factors determining real estate prices is the location of the property. This means that in order to collect accurate data on trends, each neighborhood should be analyzed separately. Below, is an example of a Year over Year summary chart of homes For Sale, Sold, and Pending in Brookline. Homes for Sale are down by 9.6%, Homes Sold are down by 10.8%, and Pending Sales are down by 14.3%.
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Mortgage Rate Perspective
If you look at the 30-year mortgage rate chart below, there’s a trend you can’t miss. Today’s rates are low. Really low. In fact, mortgage rates in early 2020 are less than half the historic norm. This makes mortgages more affordable and homes more sellable. In short, it’s a better time to buy a house than it has been in almost 50 years. And mortgage rates are to thank. |
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“For Those Who Seek an Exceptional Home and Life”
Serving buyers and sellers across the Boston area |
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| Lisa Keshet Unlimited Sotheby's International Realty Sales Associate, Realtor®, SRES® 617.902.8205 lisa.keshet@unlimitedsir.com |
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*Data is pulled from Trendgraphix, a software application that pulls facts and trends from MLS and public data.
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