The median home value in Arlington, MA has increased by 14.8% since February 2009!

No. 2: Arlington, MA
Percent change: +14.8
Population: 42,422

Every day we hear doom and gloom in the news about real estate values around the country. Recently national data ranks Arlington, MA #2 in the nation!

Known for its good schools, green parks, low crime rate, and affordable housing, Arlington MA home sales have increased for the last four years, according to Boston.com. The median home value in the city was $475,800 in August, according to the Zillow Home Value Index, and the median sale price was $468,200 as of July 31.
Read more from Bloomberg Businessweek…

This is verification for what we in the industry have seen in the past several years; that other areas in the country and the state may have depressed markets, but this area has been a smart place for buyers to invest their real estate dollars. With education, medicine and technology in the Boston area, confident buyers are flocking to the suburbs, seeking the lifestyle and housing that our vibrant town offers. Read the Bloomberg article, and if you would like to discuss any of your real estate questions, email us today. We would love to hear your thoughts!

Great inventory of homes for first time buyers

Multi Family Home near Arlington Center

First Time Home Buyers are still looking for solid advice and guidance, learning how to buy a home in Arlington MA or any surrounding area. All are invited to attend the March 30 First Time Home Buyer Seminar, presented by Dream Home Arlington and Wells Fargo Home Mortgage. Learn HOW to buy a home now!

• When: Wednesday, March 30
• Time: 7 – 8:30pm
• Where: Bowes Real Estate Office – 1010 Mass Ave, Arlington
• Cost: Free!

Packed with insider knowledge of home-buying, timely information about the local Arlington and Middlesex County real estate market, and financing guidance, this is a “how-to” persons dream come true. We’ll cover home-buying in a step by step process, from establishing your Arlington Dream Home criteria, through Financing and pre-approvals, to Open Houses, Offers, Inspections, and on to Closing Day.

Taught by Arlington’s finest First Time Home Buyer Specialists (Realtor and ABR Bija Satterlee from Bowes Real Estate) and Mike Tanionos (Senior Lender, Wells Fargo Home Mortgage), you will discover:

• How to get a “good buy” on your first house or condo in Arlington or surrounding area
• How to identify and find the house or condo of your dreams
• How to get the best Financing and interest rate for your Arlington MA home purchase
• How to get the advantages of having a dedicated Buyers Agent
• How to make your Offer stand out from other Buyers, and more!

We have already seen plenty of buyers scouring the limited inventory of homes for sale in Arlington and surrounding areas like Lexington, Medford, Bemont and Cambridge. NOW is a great time to become a savvy buyer. Register for the March 30 First Time Home Buyer Seminar now. And the best part? It’s free!

Read Testimonials of some of our Seminar graduates!

email bsatterlee@bowesre.com to register for the Seminar. Seating limited, Register Today!

The SMART people were out buying homes in Arlington in 2009! All year the media was doom and gloom, so it was almost embarrassing to be telling people “we are having a GREAT YEAR in Arlington real estate.” By the end of ’09 the total number of sales in Arlington was 496, compared to 482 in 2008.  And the average sale price of a single family home had stayed essentially THE SAME.

First Time Home Buyers did especially well with the Stimulus Tax Credit of $8,000.  They were able to lock in interest rates at historic lows (below 5%), and sellers were motivated to sell, partly due to all the uncertainty, and fear prices would be dropping further.  The numbers show clearly that the market has stabilized for now in Arlington.

Want to know the cheapest and most expensive homes of 2009?

2009 Single Family homes (246 sales), the least expensive home: $252,000 (69 Sunnyside) with 74 days on market. The MOST expensive single family home sold in Arlington sold for $1,009,597. (2-A Colonial Drive). New Construction. Average Sale Price for Single Family Homes was $510,000.

2009 Condos (246 sales), the least expensive one sold for $102,000 (11 Old Colony Lane U3). The most expensive condo was 57 Winter Street, and sold for $678,000, also new construction. Average Sale Price for Condos was $350,000.

2009 Multi Families (37 sales), the least expensive one was 106 Paul Revere Road, a two unit (one bedroom each) house, selling for $295K. The most expensive multi family to sell in Arlington was 11-13 Pierce Street, selling for $700,000. Average Sale Price for Multi Family Homes was $519,000.

Sales accelerated in the last two months of the year, which was amazing! In 2008 November and December combined had 46 sales – typical for that time of year. This year there were 94 sales in the same time period. Spectacular numbers, for anyone counting!

See Recent Home Sales in Arlington MA here.

So what’s up with Arlington Real Estate in 2010?? With mortgage rates that are still historically low, homes priced affordably, and the home buyer tax credit, we should see another great year of activity and great deals for home buyers. According to projections from the Mortgage Bankers Association (MBA), sales of existing homes are expected to increase by more than 10% next year. In addition, median home prices will move a little higher. Forecasts from the National Association of Realtors (NAR) and from Fannie Mae are generally consistent with the outlook from the MBA.

If YOU have been considering “getting out of renting” then hopefully those pioneers of 2009 who have blazed the trail have shown it is a great time to buy real estate. Learn more about it at a First Time Home Buyer Seminar, or contact me directly to discuss your goals and questions. In the mean time, start dreaming up the details of your Dream Home!

NEWS FLASH!

GMAC Real Estate was purchased by Canadian company Brookfield Residential this year, and in order to expand and re-define its brand, has merged with Real Living Real Estate, out of Ohio. Real Living is a relatively new company (since 2002) but is extremely successful, with its focus on WOMEN and FAMILY.

Knowing that women make 91% of real eststate decisions led them to orient marketing and technology in the fun friendly fashion you see on their corporate web site, http://www.realliving.com.

Bowes GMAC in Arlington is part of the transition, and will be integrating changes over the coming months. We find this news very exciting, and know it will bring much-needed energy and ‘Reality’ to real estate in Arlington and surrounding areas.  I will keep you updated to the changes and benefits you can expect. For now, get used to seeing this logo, as ITS COMING!!