3 Jones Avenue Woburn MA  |  For Sale $599,000

3 Bedrooms    1.5 Baths     1186Sf

Open Houses

Saturday, September 16, 2023 12:00 PM - 1:30 PM

Sunday, September 17, 2023 12:00 PM - 1:30 PM

 

A Charming Home with Modern Touches! Welcome to this beautifully updated Dutch Colonial Home full of character and modern amenities. The heart of this home is the brand-new kitchen featuring gleaming white cabinetry, quartz countertops, and stainless steel appliances. The dining room, filled with natural light connects seamlessly to both the kitchen and living room, making it an ideal space for gatherings and everyday living. Upstairs, you'll find three cozy bedrooms, two spacious and one smaller room – perfect for a home office or a child's bedroom. Both the upstairs full bath and the downstairs half bath have been recently renovated, boasting fresh finishes and modern fixtures. Situated in a lovely neighborhood, this home offers a perfect blend of vintage charm and contemporary convenience. Add some exterior finishing touches and enjoy all the comfort of 3 Jones Avenue.

 

Learn about home buying and selling  tips as well as information on the current real estate market.

Read our Fall 2023 Home Buyer Guide 

Read our Fall 2023 Home Selling Guide

 

Contact us today and let's discuss your home buying or selling goals!

 

Welcome to our July market update! We're taking a look at the North of Boston real estate market, specifically single-family homes that sold in Middlesex and Essex counties, and comparing June of 2023 to June of 2022. So last year there was very little on the market and many of us complained that there were not enough homes to sell. However, this June we're actually down even further. Inventory is down 40% and as a result of that the total number of homes sold is down 30%. Days on market went from 18 days on average up to 24 days on average, and median sales prices remain steady from $685,000 down to $681,000.

So we're starting to see some seasonality come back to the market and over the past few weeks the intensity of the market came down just a small notch. This is nothing for home sellers to worry about, as there is very little on the market. So if you're thinking about selling your home you would still have a lot of leverage. If you take the time to prep your home so it is shown in the best light when you hit the market, you have your best shot of attracting buyers that are not only willing to pay top dollar for your home, but also give you the best terms. If you're thinking about buying or selling a home in the suburbs North of Boston give us a call at 617-275-3379!

 

Curious about the numbers for your area?  Click the link for your town!

Andover, North Andover, North Reading, Reading, Stoneham, and Wakefield

Two Questions To Ask Yourself if You’re Considering Buying a Home

 

If you’re thinking of buying a home, chances are you’re paying attention to just about everything you hear about the housing market. And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and loved ones, overhearing someone chatting at the local supermarket, the list goes on and on. Most likely, home prices and mortgage rates are coming up a lot. 

To help cut through the noise and give you the information you need most, take a look at what the data says. Here are the top two questions you need to ask yourself about home prices and mortgage rates as you make your decision: 

1. Where Do I Think Home Prices Are Heading?

One reliable place you can turn to for that information is the Home Price Expectation Survey from Pulsenomics – a survey of a national panel of over one hundred economists, real estate experts, and investment and market strategists. 

According to the latest release, the experts surveyed are projecting slight depreciation this year (see the red in the graph below). But here’s the context you need most. The worst home price declines are already behind us, and prices are actually appreciating again in many markets. Not to mention, the small 0.37% depreciation HPES is showing for 2023 is far from the crash some people originally said would happen.

Now, let’s look to the future. The green in the graph below shows prices have turned a corner and are expected to appreciate in 2024 and beyond. After this year, the HPES is forecasting home price appreciation returning to more normal levels for the next several years.

So, why does this matter to you? It means your home will likely grow in value and you should gain home equity in the years ahead, but only if you buy now. If you wait, based on these forecasts, the home will only cost you more later on.  

2. Where Do I Think Mortgage Rates Are Heading?

Over the past year, mortgage rates have risen in response to economic uncertainty, inflation, and more. We know based on the latest reports that inflation, while still high, has moderated from its peak. This is an encouraging sign for the market and for mortgage rates. Here’s why.

When inflation cools, mortgage rates generally fall in response. This may be why some experts are saying mortgage rateswill pull back slightly over the next few quarters and settle somewhere around roughly 5.5 and 6% on average.

But, not even the experts can say with absolute certainty where mortgage rates will be next year, or even next month. That’s because there are so many factors that can impact what happens. So, to give you a lens into the various possible outcomes, here’s what you should consider:

• If you buy now and mortgage rates don’t change: You made a good move since home prices are projected to grow with time, so at least you beat rising prices.
• If you buy now and mortgage rates fall (as projected): You probably still made a good decision because you got the house before home prices appreciated more. And, you can always refinance your home later on if rates are lower.
• If you buy now and mortgage rates rise: If this happens, you made a great decision because you bought before both the price of the home and the mortgage rate went up.

Bottom Line

If you’re thinking about buying a home, you need to know the facts on what’s happening with home prices and mortgage rates. While no one can say for certain where they’ll go, expert projections can give you powerful information to keep you informed. Let’s connect so you have a professional to add in an expert opinion on our local market.

11 Avalon Rd, Reading MA 01867
4 bed | 2 baths | 2,467 sqft
Price: $1,049,000

Welcome to this handsome Cape Cod style home, ideally situated in a highly sought after neighborhood in Reading's west side. Boasting a picturesque exterior and a delightful backyard, this property offers a perfect blend of comfort, style, and entertainment options. Inside you will be greeted by a warm and inviting atmosphere that exudes character and timeless charm. With two bedrooms upstairs and two bedrooms downstairs, the living space offers versatility with a flexible layout allowing for convenient one-level living. The backyard of this home is truly a retreat in itself, providing a beautiful backdrop for relaxation and outdoor gatherings. Take a dip in the refreshing and heated in-ground pool, perfect for beating the summer heat or hosting memorable poolside parties. The expansive yard also offers ample space for both games, activities and gardening. Additional expansion potential and basement for additional living area. Located minutes from Rt 93, 95 & Readings commuter rail.

Click here to learn more!

See it at an Open House! 6/23 from 5-6:30PM and 6/24 and 6/25 from 12-1:30PM 

 

 

Welcome to our monthly real estate market update! We're taking a look at the North of Boston real estate market, specifically Middlesex and Essex counties, and comparing single-family homes that sold in May of 2023 to May of 2022. The total number of active properties fell 17%. The total number of homes sold also fell by about 27%. Days on market, or the time it's taking homes to sell went from 19 days on average up to 25, an increase of 32%.  And median sales prices went from $760,000 up to $800,000 an increase of $40,000 or 5%.

It's certainly a complicated market. Prices are high. Demand is high. We're definitely still seeing multiple offers even though interest rates are also high, so if you're considering making a move in or out of the suburbs north of Boston give us a call at 617-275-3379. 

 

Curious about the numbers for your area?  Click the link for your town!

Andover, North Andover, North Reading, Reading, Stoneham, and Wakefield

Powerful Job Market Fuels Homebuyer Demand

 

The spring housing market has been surprisingly active this year. Even with affordability challenges and a limited number of homes for sale, buyer demand is strong, and getting stronger.

One way we know there are interested buyers right now is because showing traffic is up. Data from the latest ShowingTime Showing Index, which is a measure of buyers actively touring homes, makes it clear more people are out looking at homes than there were prior to the pandemic (see graph below):

And though there’s less traffic than the buyer frenzy of the past couple of years, we’re not far off that pace. There are a lot of interested buyers checking out available homes right now.

But why are buyers so active at a time when mortgage rates are higher than they were just last year?

The Job Market Is Growing at a Stronger-Than-Expected Pace

With inflation still high, the Federal Reserve (the Fed) repeatedly hiking the Federal Funds Rate, and a lot of chatter in the media about a recession, it might surprise you just how strong today’s job market is. What might be even more surprising is the fact that it appears to be getting stronger (see graph below):

Each month, the Bureau of Labor Statistics (BLS) reports how many new jobs were added to the U.S. job market. The graph above shows 88,000 more jobs were created in April than in March. In fact, the April numbers beat expert projections. That’s a solid indicator the job market is growing.

Unemployment Is at a Near All-Time Low

Ever since the Fed began fighting inflation, many people expected the low unemployment rate we’ve seen over the past couple of years to rise – but that hasn’t happened.

In fact, what has happened is the unemployment rate has dropped to 3.4% – a 50-year low (see graph below):

With so many people steadily employed and financially stable right now, they’re still able to seriously consider buying a home.

What This Means for You

If you’re thinking about selling your house this year, a market with active buyers is music to your ears. That’s because there’ll be increased interest in your home when you put it on the market, especially at a time when the number of homes for sale is so low.

To get started, your best resource is an experienced real estate agent. They can help you price your house appropriately, navigate the offers you’ll receive, negotiate effectively, and minimize your stress and hassle.

Bottom Line

There are plenty of buyers out there right now trying to find a home that fits their needs. That’s because the job market is strong, and many people have the stable income needed to seriously consider homeownership. To put your house on the market and get in on the action, let’s connect.

Welcome to our monthly market update! We're taking a look at single family homes sold in Middlesex and Essex counties and we're comparing April of 2023 to April of 2022. So the total number of active properties dropped by about 19%. Because there is very little inventory out there, the total number of homes sold also dropped by about 25%. Days on market, or the time it's taking homes to sell went from 23 days on average up to 31, an increase of 35%. And median sales prices went from $740,000 down to $720,000, a decrease of about 3%.

now don't let those stats fool you! Despite what the experts predicted in the fall, the spring market right now is red hot! We've seen buyers competing against 10, 20, and even 40 other offers. So home sellers right now are not only getting top dollar, but also commanding terms. So if you are thinking about getting your home sold, now is an opportune time. And for home buyers out there, it is certainly a challenging market, but the highest price doesn't always win! So if you're thinking about making a move in or out of the suburbs North of Boston and want to learn how to get top dollar for your home or how to get an offer accepted, give us a call at 617-275-3379!

 

Curious about the numbers for your area?  Click the link for your town!

Andover, North Andover, North Reading, Reading, Stoneham, and Wakefield

 

31 Martin Rd, MA 01867
4 bed | 2 baths | 2,038 sqft
Price: $685,000

Welcome to 31 Martin Road, a handsome colonial in a quiet and friendly neighborhood, just a stone's throw away from Birch Meadow Elementary, Coolidge Middle, Reading High, the YMCA, and parks! Step inside and be greeted by a spacious and inviting fire-placed living room, perfect for entertaining guests or relaxing with the family. The bright white kitchen provides ample counter space, stainless appliances and solid surface counters. The dining room is ideal for hosting dinner parties and after you'll love spending time and relaxing in the screened-in porch overlooking the peaceful backyard. The first level provides a full bath and laundry. Upstairs you will find four generous sized bedrooms and a full bathroom. The basement offers potential for updating for a future play room, office or TV room! Gas heat and many updates! Don't miss this opportunity to own a beautiful home in a desirable location.

Click here to learn more!

See it at an Open House! 4/29 and 4/30 from 12:00-1:30PM

 

Welcome to our monthly market update! We're taking a look at single family homes sold in March of 2023 and comparing it to March of 2022 specifically for Middlesex and Essex counties. The total number of active properties dropped by about 13% and inventory remains an issue. The total number of homes sold also dropped by about 15%. Days on Market went from 25 days on average up to 41, an increase of 64%. And median sales prices went from $705,000 up to $718,000, an increase of $13,000 or 2%.

 Although the data shows that home prices remain stable, we're starting to see the market heat up. Bidding wars are getting competitive again and homes are selling for more money than what we think they would actually appraise for. So if you're thinking about selling your home this year, it's still a good time! If you're a potential home buyer out there, make sure you're giving yourself plenty of wiggle room so if you come across your dream home and you're in a bidding war you can afford over asking. You should be having a conversation with your agent about what happens if the home doesn't appraise. If you're thinking about buying or selling a home in the North of Boston Market give us a call at 617-275-3379 and learn more about our team at ternullorealestate.com. 

 

Curious about the numbers for your area?  Click the link for your town!

Andover, North Andover, North Reading, Reading, Stoneham and Wakefield