ReCap

January

Boston-area buyers
especially benefiting

Purchasing a home near a commuter rail station is delivering a high return on investment for Boston-area buyers. Consider these numbers from the National Association of REALTORS® (NAR)1:

  • Boston was among seven regions analyzed by the NAR and the American Transportation Association. The others: Eugene‚ Ore.‚ Hartford‚ Los Angeles‚ Minneapolis-St. Paul‚ Phoenix‚ and Seattle. Each area had residential properties within a half mile of commuter rail‚ rapid rail‚ or bus options.
  • Between 2012 and 2016‚ the median sale price of homes in the Boston area near a commuter rail station jumped 24%.
  • The highest increase (144%) was found in the vicinity of Concord Station on the Fitchburg commuter rail line.

1“The estate mantra: Locate near public transportation‚” National Association of REALTORS®.

January

Today’s parents are paying it forward

American homeowners are a giving bunch. More than one in five helped someone else buy a home—and more often than not‚ it was their children.1 Check out this data from co-investing firm Unison:

  • Seventy-nine percent of homeowning parents feel it’s important for their children to own a home. Of those with Millennial children‚ 18% have already provided financial aid for a home purchase.
  • There’s a “pay it forward” aspect involved‚ as 22% of today’s parents said they also received help from their parents when they entered the housing market.
  • This generosity may have a downside. One in 10 homeowners admitted that they have not saved enough for retirement due to the financial support of their adult children.

I hope information like this gives you better insight into today’s buying market.

1Steve Randall‚ “Bank of mom and dad is open for most homebuyers‚” Mortgage Professional America‚ last updated December 6‚ 2019.

January

Key numbers from a new NAHB survey

Full basements may be on the decline in new builds across the country‚ but here in New England they remain a popular feature. The numbers from a recent National Association of Home Builders survey1:

  • Building codes in colder areas often require foundations to be built below the frost line—hence the high share of full basements among new builds in the West North Central (81.8%) and New England (69.5%).
  • Of new single-family homes constructed nationwide, 60.1% were built on slab foundations. Full or partial basements were found in 24.3% of new homes followed by 14.3% with a crawl space.
  • Back in 2000‚ the advantage held by slabs over basements was much narrower: 46.0% to 36.8%.

I hope you find this market data to be helpful.

1Na Zhao‚ “Basements continue to fall out of favor‚” Eye on Housing Blog‚ last updated December 9‚ 2019.

December

Wishing you a happy holiday season

During this special time of year‚ I want to express my gratitude for our relationship. My success is the result of strong partnerships such as ours.

Here’s wishing you and your loved ones a holiday season filled with peace‚ love‚ and joy.