Back to Business!
Over the last year, I have watched the world shut down, and seen our puppy Newfoundland, Zeus, grow to 165 pounds. He has been a good example of how long this year has been. What was a rambunctious 20 pound pup at the beginning of the pandemic, is now a lazy bear! And, now, after a long year, we are ready to get fully back to business in the Real Estate world. If you asked me about the Real Estate Market early during the pandemic, it went in three waves.
March 2020: "There is so much uncertainty, we are not quite sure what will happen." July 2020: "There is an influx of people selling their condos in Boston and moving to the suburbs, but there is limited inventory."
June 2021 "There is an influx of people selling their condos in Boston and moving to the suburbs, and inventory is starting to come back."
Buyers have had a hard year, but please do not be discouraged; I have a strategy that will increase your chances of getting your offer accepted. Contact me for more information.
About a month ago, I hosted an open house at 9 Juniper Valley Court in Beverly. Because of Covid guidelines, I was not able to allow buyers to enter the property as they please. You were asked to wait outside in line until it was your turn; I decided on two groups at a time with social distancing. Although difficult for buyers, this was the perfect opportunity for me to speak with buyers as they waited in line.
I needed to know where these buyers were coming from. My first question to all buyers was "Are you local?" The overwhelming respond was "No!" Most buyers were coming from Boston, Charlestown, Somerville and the Cambridge area. After the open house ended, I spent 30 minutes speaking with Jarred, a buyer from Boston. He had just sold his 750 sq.ft condo in Back Bay for $900,000, and now here he is touring a 3,700 sq.ft home with a pool for $899,000. He expressed both excitement and frustration. Excited for the opportunity to purchase a home in the suburbs 5 times the size of his condo for the same price, but frustrated with the home buying process and the bidding wars. I have spoken with many like Jared, and I hope to offer more advice on how to navigate this market as a buyer.
Summer is here...
My advice to anyone interested in selling, is to choose the broker that has the best marketing strategy which will generate the most foot traffic. I have an upcoming listing in Beverly, 79 Lothrop Street is a 4 bed 3 bath Colonial in desired Beverly Cove. It has water views and your own private path with direct access to the ocean; this is perfect for your kayaks and paddle boards. We are listing the property at $995,000, and at this price with water views, there is no doubt there will be a lot of interest.
We will follow all suggested Covid-19 guidelines, but I am hoping this listing will be my first real full (and safe) open house in over a year. *Keep an eye on it and come visit me at the Open House, hopefully you don't have to wait in line.
Now is the perfect time to sell. Do not miss out on this wave.
Please contact me for a no obligation Market Analysis on your property
Sincerely,
Victor Paulino
723 Hale Street, Beverly Farms | (351) 201-0258 | victorpaulino31@gmail.com
Engel & Voelkers By The Sea
*Ruby Distinction Award Winner