Oxford MA 01540 – SOLD! 11 Nottingham Rd

Oxford MA 01540 – SOLD 11 Nottingham Rd

 

Looking to Sell a House in Oxford MA or the surrounding towns? Call 508-232-7926 or use our 15 second home value estimator Worcester County Houses For Sale:

      The homes shown above are exclusive listings offered by The Pro’s Real Estate Team.

 

 

 

This property is now SOLD!!! Not to worry, here are more homes for sale in 01540 under $300,000.

We helped Alex and Tom several years ago purchase this home.  They did a lot of work to the house and decided that it was time to get something a little bigger so they called us up to help them.  We were able to come up with a plan to get the house ready for sale and sold quickly.  We pre-marketed the house and had over 50 people see it on the first day on the market.  

RELATED ARTICLE: Absorption Rate and what that means to you   

We were able to get multiple offers to present to the sellers and put this one under contract just before the Stay at Home order was announced.  Through social distancing and electronic means, we got it to the closing table and officially got it closed.

Just because the market has been impacted with the current COVID-19 doesn’t mean that their aren’t good deals to be had.  If you are looking for a new home and want to have a Pro help you then, Contact us today

11 Nottingham Rd, Oxford MA 01540

oxford ma home sold

SOLD: $257,000

Listing ID: 72624438 | 3 Bedrooms | 1 Baths | 938 Square Feet | 0.28 Acres

To see some other great listings like it call The Pro’s Real Estate Team at 508-232-7926.

 

See more Homes for Sale with 2+ Bedrooms in 01540

Related Article: First Time Home Buyer Seminars

See more Homes for Sale UNDER $250,000 in Worcester County

 

Related Article: What is the new TRID that everyone is talking about?

 

Related Article: How to buy a home – The Process

 

What is the Coronavirus and is it affecting the real estate market?

Coronavirus
Photo Credit: FDA.gov

 

As if the current real estate market wasn’t tough already, we have to now compete with the Coronavirus and the media about it.  Here is my take on what is happening.

 

What is Coronavirus?

Coronaviruses are a group of viruses that can cause a range of symptoms including a runny nose, cough, sore throat and fever. Some are mild, such as the common cold, while others are more likely to lead to pneumonia. They’re usually spread through direct contact with an infected person.  The one we are hearing about today that is responsible for thousands of confirmed cases, started in Wuhan China and has been identified in over 100 countries including the US is called COVID-19

hand sanitizer shortage
Amazon.com

Whats crazy is the amount of people who are stockpiling supplies right now.  Its amazing to see empty shelves at the stores.  Water…gone, Toilet paper…gone, Paper Towels…gone, Hand Santizer…gone.  I even looked on Amazon the other day to see if we could get hand santizer and it was mostly sold out.  I did find one seller who was selling 12 of the 8 fl oz bottles for only $489.95!!  This is absolutely crazy.

How does the Coronavirus seem to affect the current real estate market

While active home buyers are anxious to find a house in this market, some are taking a step back and putting things on hold while they await to hear how this Coronavirus will turn out.  As much as they want to get into a house, they don’t want to take too much of risk by coming in contact with someone or something that has been affected.

Additionally, we will likely see a delay in sellers listing their homes as well due to some uncertainty of having strangers coming in and out of their house.

While the confirmed cases in our area are extremely low, sellers and buyers both are taking precautionary measures to make sure they stay healthy.

The National Association of Realtors recently wrote an article for Realtors offering some guidance to help Realtors respond to the potential impact.

RELATED ARTICLE:  Coronavirus: A Guide for REALTORS®

 

What about showing houses or holding open houses?

The NAR says to speak openly and honestly with your seller about the pros and cons of holding an open house. Assess the risk based on your specific location, and direct your clients to local and state health authorities for specific information about the severity of the risk in your area. You could also propose alternative marketing opportunities for your seller’s consideration, such as video tours and other methods to virtually tour a property. If you do hold an open house, consider requiring all visitors to disinfect their hands upon entering the home, and provide alcohol-based hand sanitizers at the entryway, as well as soap and disposable towels in bathrooms. If you decide to do any cleaning at your client’s home, be sure to check with your client in advance about any products you plan to use. After the open house, recommend that your client clean and disinfect their home, especially commonly touched areas like doorknobs and faucet handles.

What about mortgage rates?

We have been seeing a lot of articles and talk about the rates as well.  Right now, rates are still at all time lows which is still making it the best time for buyers to get out there and get into new homes and for current home owners to refinance their mortgages.  Whether you are thinking of buying or refinancing, you owe it to yourself to talk to a lender about the benefits of acting now before these historic rates are gone.

How does the Coronavirus affect new construction?

According to the National Association of Home Builders, nearly a third of home building material inputs come from China including some products like bathtubs, sinks, appliances, fixtures and other products.

RELATED ARTICLE: When considering new construction, should you use a Realtor?

With low inventory levels, new construction has picked up, however this could potentially slow things down just as they are getting the momentum built up and contribute to the already low home count.

The biggest thing we should do right now is to not panic and stay aware of whats going on around you.  Stay healthy, wash your hands and avoid any large functions or gatherings until things get worked out.  As for buying and selling real estate, it will still happen.  There are sellers who need to sell and buyers who need to buy.  Those buyers and sellers who are going to continue shopping through this are likely going to have a little bit of an edge on those who choose to wait.  At the end of the day, its up to you to do whats best.

 

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Another Grafton MA Home Sold

Looking to Sell a House in Grafton MA or the surrounding towns? Call 508-232-7926 or use our 15 second home value estimator

 

Worcester County Houses For Sale:

The homes shown above are exclusive listings offered by The Pro’s Real Estate Team at Keller Williams Greater Worcester.

6 Pine Hill Rd, Grafton MA

This property is now SOLD!!! Not to worry, here are more homes for sale in 01560 between $300,000 & $400,000

We originally helped our client purchase this home back in 2016.  He enjoyed it for several years before deciding to purchase some land and build his dream home.  He called us up and let us know his plans so we put together a game plan and got this house ready to go and under contract in only 4 days of listing it.  Its officially closed and our seller can put the proceeds towards his new home! This property closed February 21st, 2020 for $333,000!  If you are considering buying a new home and want to work with a team of agents that will work hard and save you money, then Contact us today

6 Pine Hill Rd, Grafton MA 01560

 

SOLD: $333,000

Listing ID: 72603892 | 3 Bedrooms | 1 Full Bath |  Garage | 1,134 Square Feet | 0.96 Acres

To see some other great listings like it call The Pro’s Real Estate Team at 508-232-7926.

 

See more Homes for Sale with 3+ Bedrooms in 01560

Related Article: First Time Home Buyer Seminars

See more Homes for Sale UNDER $250,000 in Worcester County

Elementary School: Grafton Elementary (Gr 2-6)

Elementary School: North St Elementary (Gr 2-6)

High School: Grafton High (Gr 9-12)

Middle School: Grafton Middle (Gr 7-8)

Related Article: What is the new TRID that everyone is talking about?

 

 

 

 

Related Article: How to buy a home – The Process

 

Is February the new April?

Is February the new April?

Is February the new AprilIs February the new April?  Well, in the real estate market, the short answer is YES!! 

The “Spring Market” which most people relate to the April time-frame has historically been the busiest season for buying and selling as most home sellers and home buyers come out of their winter hibernation ready to hit the streets and find their new home.  What we are seeing now, though, is a shift in the market timing due to the severe shortage of homes in the housing market.  We recently talked about the Absorption Rate and how that affects the real estate market.

Right now the housing inventory across the whole country is at records lows and with more buyers looking to jump into the real estate market now, the Spring market will likely see fewer homes for sale compared to years past.  Sellers are anxious to take advantage of the limited housing market to sell their house because they know they are going to get top dollar, except they are nervous to do so because……where will they go?  One of the biggest concerns for both sellers and buyers is that there are not a lot of homes to choose from.

Buyers are frustrated because their current leases may be coming up, maybe their landlords are selling their homes and they need to move, or possibly they are just moving to a new town and need to find a house.  That’s all well and good except their isn’t anything available for them.  Realtors used to show buyers 4 or 5 houses at a time several days a week and now they are lucky to see 1 or 2 a week.  Of those houses they are seeing, its likely that many other buyers are looking at them as well and lots of buyers are writing offers driving the prices up and in some cases, out of their budget.  Buyers are finding it necessary to “settle” on a house simply because they don’t have a choice.

Sellers alike, are frustrated because they know they can sell but after they get an offer on their home, they have to deal with the problem of now being a buyer themselves.  In some cases, sellers would just prefer to stay where they are vs jumping into the buyer market.

 

RELATED ARTICLE: Buying a home in a sellers market

 

On a positive note, if you are a seller, and can deal with waiting to find a new home or have a place to go, then this is a great opportunity for you.  Being in a sellers market gives you a huge advantage and by getting your house on the market now rather than waiting another month or two will ensure that you get the most amount of money.  Although we dont expect to see the Spring market “flooded” with inventory this year, we do expect to see a slight uptick and you know how supply and demand works

If you are a seller thinking about selling this year, its worth reaching out and talking to us about a timeline and a plan.  If you are a buyer, we can help too.  We have several ways of finding you a great home without you having to be caught up in the crazy real estate market.

Is February the new April? Well, whether it be February, March or April – the truth is Spring Market is here.  You should not wait any longer, you should Just Call The Pro’s

Get a quick home value estimate here

 

Frustrated with not finding the right home?  Ever considered just building one?  Check out some of the new construction homes for sale right now but BEFORE you run out and talk to the builder, here are a few things you need to know so you are prepared.  When Considering a New Construction Home: Should you use a Realtor®?

Absorption Rate in Real Estate and what does it means for you?

Absorption Rate in Real Estate and what does it means for you?

Absorption rate

In the real estate industry, the absorption rate is used to measure the demand of real estate.

The absorption rate basically helps us determine how long it takes for houses to sell in a specific area.  This could be a city or town, a neighborhood or an area like our Wachusett Area.  Real estate agents and Realtors use the absorption rate to find out how many months it takes for current homes that are for sale to sell. Whether you are a seller, buyer or an agent, its important to understand this as it provides some insight on how the real estate market is. The good thing about this is it doesn’t take a degree in math to understand how to come up with this figure.  Lets see how its done.

 

 

How do we calculate the Absorption Rate

To calculate the absorption rate formula is pretty easy. In our industry, the rate is found by taking the number of sold homes in a specific area during a specific time-frame and dividing it by the total number of homes currently for sale. The result we get is called the absorption rate . What this figure tells us is the rate at which all of the current homes for sale are being sold.

Lets look at our very own town of Rutland for example;  As of today, Rutland has 15 active single family homes for sale.  Over the past 30 days, 6 homes have sold.  The absorption rate for Rutland right now would be 6/15 = 40%

If we reverse this formula, it will actually show us the number of months it takes for the current supply of active listings to be sold.  In our example above, it would be 15/6 which is about 2 1/2 months.  This tells us that if no other houses came on the market, that based on supply and demand, that it would take only 2 1/2 months to sell all the current inventory.  Now this may not seem like a big deal but when looking at the number of buyers looking for homes vs the actual number of homes available, we see that there is huge demand for houses right now

How does the Absorption Rate help us determine a seller’s or buyer’s market?

If you are considering buying or selling a home in a specific area, its always good to know what the absorption rate is in that area.  A knowledgeable Realtor will be able to provide insight on the actual numbers.  The absorption rate is going to let you know whether this area is good market to buy or a good market to sell.  What’s the difference between these markets?

  • A Seller’s Market: This market tells us that it benefits the seller. The demand from buyers exceeds the current supply of active listings on the market.  When we see this, usually it means that houses are being sold very quickly and most oftentimes for more money. A sellers market is also determined, generally, when the absorption rates are anything above 20 percent.
  • A Buyer’s Market: This market tells us that it benefits the buyer. This is when the current supply of active listings on the market exceeds the number of listings actually sold because the demand from buyers isn’t as high. When this occurs, we tend to see houses take longer to sell and oftentimes they sell for less than what the original asking price is. A buyers market is also determined, generally, when the absorption rates are anything below 15 percent.

 

RELATED ARTICLE: Buying in a Sellers Market

 

As a Seller, what does this mean for you?

If you are considering selling your home and want to get the most money for it you’ll want to wait for a seller’s market. The absorption rate is one of the figures that is used to determine the current state of the real estate market in order to price the home appropriately. As shown above, when we reverse the calculation to find the number of months it would take for homes to sell in a market, a seller’s market will have a low monthly supply rate. Typically, anything ranging from 0 to 5 months indicates a seller’s market because this means all currently active listings will sell in a relatively short period of time.

Oftentimes, we find absorption rates above 20 percent and below 5 months of supply in the early spring market as this is when the demand of buyers are at its highest and the supply of homes can’t keep up but lately this has been the trend for months and seems to be still trending this way.  This is a great reason that sellers should make sure to keep track of their local market’s absorption rate.  Or better yet, they should hire an agent who will watch the market for them so that they can advise them in order to list their homes at the most strategic time. If the absorption rate isn’t favoring a seller’s market, you might want to wait until the real estate market heats up.

Right now, we are at an all time historic low with regards to current inventory.  This is one of the first times we have ever seen the amount of homes in all of Massachusetts so low.  Right now we have almost 25% less single family homes for sale than we did this time last year and almost 50% less than we did back in 2016.  This is a clear indication of where the market is trending

As a Buyer, what does this mean for you?

If you are looking to buy in a certain area, this absorption rate is good to determine what the chances are for getting a good deal on a house. As we mentioned earlier, a buyer’s market generally has an absorption rate below 15 percent. When reversing the calculation to get the amount of time it takes to sell all currently active listings, as a buyer, you will want to look at anything over 6 months. This will mean that the houses are on the market for longer and buyers don’t need to be too concerned about a lot of competition as there is plenty of homes to look at.  In a buyers market, you have the ability to shop a little longer, see more homes and not be rushed into making quick decisions vs trying to buy in a sellers market where you are likely to be in multiple offers and and need to get out to look at the house moments after its listed or you may miss out.

As we are right now, buyers will find themselves in a seller’s market where the absorption rate is well above 20 percent.  Buyers should try to beat out other buyers by working with an agent who studies the real estate market, knows it very well and keeps track of all the listings as they become available so they can get you out first. A buyer should also get pre-approved for a mortgage and have an understanding of the process in order to be well prepared to jump quickly.

 

RELATED ARTICLE: Pre-qualified vs pre-approved; What you should know

 

Can the Absorption Rate be used for other uses?

While real estate agents & Realtors use it for buyers and sellers for helping them make good real estate decisions, it also influences other things as well. Here are a few other ways the absorption rate affects the real estate market:

  • When sellers and agents are in a low absorption rate market, they may have to reduce the listing price to attract a buyer in order to sell the house. When in high absorption rate markets, sellers and agents may be able to increase the asking price without turning too many buyers away.  Ultimately, some buyers will walk away, but there are more buyers that will likely pay the sellers price.
  • The absorption rates can also influence bank appraisals. Appraisers sent out to evaluate the home for a mortgage will use the absorption rate in that specific area as an additional reason to justify the property’s selling price.
  • The absorption rate can be a sign for new construction builders to start building new homes. During market conditions with a high absorption rate, the buyer demand may be high enough to influence the development of new homes because currently inventory is low and there isn’t many homes to choose from.

If you are considering buyer or selling this year and want to know more about your current market, feel free to contact us for free home and market evaluation

 

Wachusett Area Homes For Sale

Clear your vents – Winter Home Tip

Clear your vents – Winter Home Tip

clear your ventsBe sure to clear your vents this winter.  Is your homes heating system, cooking stove or fireplace running on propane, gas or oil?  If so, there are vents on your fuel tanks that need air to function as well as some gas units where they don’t exhaust up and out your chimney.  Make sure when digging out from one of the many snow storms we are sure to have, that you always open these airways for safety as well as clear your ventsproper efficiency in your fuel tanks

RELATED ARTICLE –  Winter Maintenance Tips

 

One simple way to ensure that they stay clear is to create a cover out of plywood so the snow doesn’t block them.

 

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Worcester has some great equity builders under $225,000

The Pro’s Real Estate Team is excited to announce…….

lou announcement

We are excited to be in business with Lou as he will be an amazing addition to our team.

Lou is a Massachusetts native with years of Real Estate experience.   After Graduating from Berklee College of Music Lou spent many years traveling and working in various customer service capacities.   His core values are Authenticity, Integrity, Honesty and Growth. Those values shape all elements of Lou’s life and he uses them guide his clients through even the most difficult transactions.

If you are looking to buy, sell or invest in a home this year, feel free to reach out to Lou at:

  Phone/Text:   617-212-9244

  Email:   LouTselios@kw.com

Or visit Lou at www.Lou.JustCallThePros.com

homes

The Pro’s Real Estate Team is excited to announce…….

ashlyn announcement

We are excited to be in business with Ashlyn as she will be an amazing addition to our team.

Growing up with a father in the construction business, and often  helping him with many projects, she has always been drawn to any and all things regarding “homes”. After spending years in the Special Education field, Ashlyn decided to make the leap into Real Estate. Her experience in education has taught her to think outside the box and be a problem solver. Her experience within the construction business has allowed her to be able to envision what a house could be no matter its current condition. Ashlyn can always be counted on to be genuine, passionate, and focused throughout the house buying or selling process. Her natural curiosity helps her want to listen and learn about the people she meets which gives her greater insight to what their goals are. She loves being able to help others find their dream home by being a strong advocate for them. In her spare time, she loves to spend time with her family and friends whether it is at home or traveling across the world. She enjoys staying active by doing outdoor activities with her fur baby, Ace, and going to the Fitness Asylum

If you are looking to buy, sell or invest in a home this year, feel free to reach out to Ashlyn at:    Phone/Text: 508-641-9233 / Email: ashlynderosier@kw.com

You can also visit Ashlyn at www.ashlyn.justcallthepros.com

homes

 

6 things that make you a Pro

6 things to make you a proAfter Watching the New England Patriots win yet another championship in Superbowl LIII, I got to thinking about what makes a Pro – a Pro.  Since I am one of the the Pros at The Pro’s Real Estate Team, I figured it might be a great topic to add to our growing website. Here is my bullet pointed list of 6 things that make you a Pro and come out on top no matter what industry you play at.

6 things that make you a Pro

  1. Responsibility:

Own your mistakes and celebrate your wins. Either way you need to be responsible for your actions and your outcomes! Those who succeed at a high level look for their role in all problems and solutions. If you are blaming and pointing fingers you may be running in victim mode and victims are not PROS.

  1. Accountability:

You must do what it takes to succeed, and you must hold yourself to the standards you set. If you are struggling to do it alone then find a tribe, hire a coach, or surround yourself with other high-minded team members. Integrity plays a large part in Accountability. If you say your going to do something, do it for goodness sake.

  1. Curiosity:

Stay in the student zone. Some call it : beginners’ luck. Do not ever assume you know everything- you don’t! Stay in curiosity in all things. Seek first to understand. Beginners don’t have luck because they have a severed rabbit foot in their pocket, they have luck because they don’t know what they don’t know and do exactly what others tell them to do out of ignorance. Once the beginner starts to feel like they may know better the “luck” they once had seems to have evaporated. Always be Learning!

Related Article: To Shave or not to Shave … My head

  1. Self-Mastery:

Know what you and know what you don’t know and know the difference. People who are the best at what they do know they can not always know everything. They commit to developing themselves through their curiosity (see above) and focus on what needs improvement. It takes 10,000 hours of practice to master something- 10,000 hours. That means If you practiced one thing every day for 8 hours, 7 days a week you wouldn’t have mastered for 3.5 years. For most people 10,000 hours will take more like 10-15 years. And even that is with pure focus. Commit to mastering yourself, understanding yourself, and growing from a personal and professional perspective. Even if you don’t master it, you will definitely come out a PRO at most it!

  1. Creativity:

Think outside the box. Think inside the box. Make it look like you are thinking outside the box while you are actually doing activities that are clearly inside the box. People will say “Wow! How did you do that.” And you will know that you just did the basics, built the foundation, and follow the path others blazed before you. And some day when you get that foundation stable, you get to play at another level. You get to try things you’ve never tried before. Take risks you have never taken before. Sometimes creativity is doing things the way someone else has successfully done and in your own way. Leaving your creative mark on the world.

  1. Competition:

Rivalry can be a good thing. And there is one big trick to competing. You must remember who your competition is. And it is always the same person. It’s you!  You can never really be better than that other person or that other team, can you? No because you can never be inside their head, or their pep talks, or their trainings. You can however understand yourself. You know your numbers you know your abilities and you can track that. Every time you train to be better, beat your last set of stats. If you continue to improve upon yourself competition outside of yourself will disappear. Just like the Patriots, people may hate, not because you compete but because you DOMINATE. Becoming the best at something means beat your old self, yesterday’s you, every day.

This is how you become a PRO!!!!

 

Thinking about a career in real estate?  We love coffee and would love an excuse to go out and grab one!  Connect with us here and lets set something up

 

 

 

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