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ModernMass.com | The Janovitz + Tse Team | ModernMASS

Real Estate in the Boston Area : Modernism Specialists

  • Home
  • Listings
    • New and Recent Listings/Sales
    • Past Sales Archived
    • Sales of Traditional Homes + Selection as Buyer Agents
    • Broader Search
  • Blog
    • Also Home to Some Past Listings and Sales
    • Instagram
  • About
    • Bill Janovitz
    • John Tse
    • Karen Butt, Realtor
    • Tiffany Bagster, Buyer Specialist
    • Our Services
    • Testimonials
    • Press
    • Traditional Homes
    • Resources
  • Mod History & Video
    • Videos
    • ModernMASS History
  • Contact
    • Questions, Appointments, and Comments
    • Sign Up for New Listings and Newsletter Alerts
Submit

News

Looking for certain features

Summer’s Here. Time to Catch Our Breath

By

Bill Janovitz

Posted in Five Fields, Lexington, Listings, Market Report, Marketing, Sales, Six Moon Hill, TAC On Jul 11, 2013

Man, oh, man! What a nutty spring market here in and around Lexington (never mind nearby planets like Cambridge, where one buyer bid $1.3 million over a $3.7 million asking price). Inventory has been tight. Bidding wars were the rule rather than the exception. Since January 2013, the Janovitz + Tse Team have had 19 MLS transactions, plus a couple more that were non-MLS sales. Of all of the above, we have had 14 listings, five of which sold at or over asking price. Our most recent, 32 Percy Road, was priced at $1,389,000. We had four offers all over $1,400,000. The winning bid was far above that with no contingencies (as it has not yet closed, we are not at liberty to publicize the final sale price). However, we were on the losing side of a bidding war for this Moon Hill house. We are told the buyer went similarly over asking with similar terms.

When we act as buyer agents in such a heated market, we are in a tough position. What is any particular house “worth” when you have to take the recent sale comps with a shaker of salt because the other three (or 17) bids are offering a whole new price range with no financing contingency, and subsequently no appraisal being a potential issue later on? Our advice in a case has to be to bid the best-and-final price/terms above which you would feel comfortable walking away from the house. If you are okay with not getting a seemingly high-priced $1.3 million house because you offered your top of $1.35 million, then it is time to move on. Otherwise, be prepared to dig a little deeper for the house of your dreams, because we are experiencing as much a sellers’ market here as we have seen in over a dozen years in this business.

The message for potential sellers who have been holding off, the time is right. Interest rate hikes are pushing fence-sitters into a more urgent mode. There have been many buyers shut out of the spring bidding wars still looking. There are renters with leases running out. A spike in inventory, coupled with the traditionally slower summer and fall markets should balance the market a bit. But like all “should” cases this year, ya never know.

Some notable modern listings and sales of ours this year:

Swampscott $959,000. We sold for $927,500. Photo courtesy of Steven White, Raveis.

 

3 Stonewall Road, Five Fields, Lexington. $1,690,000. We sold for $1,675,000

 

And you can see the other listings we have sold recently with their final prices here.

 

 

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ModernMass.com | The Janovitz + Tse Team | ModernMASS

 

A modern approach to real estate. Distinctive marketing for distinctive homes.

We are a top-producing real estate team in Lexington and work in all surrounding towns, averaging around $60 million in sales annually. We work as seller and buyer agents, marketing, showing, and selling all styles of houses and condos. The focus on this web site is to tell the story of the area’s mid-century modern/modernist heritage, which we have been doing regularly since around 2005. And we specialize in marketing this architecture, but our marketing and buyer services are top-notch for all homes, with decades of combined experience in Boston-area real estate.

Contact Info

7 Muzzey St. Lexington, MA 02421

Phone:
617-851-3532 (John)
781-856-0992 (Bill)

Email: Janovitz + Tse

NEWS

  • Our New Breuer Listing Featured at Boston.Com/Globe.Com
  • Dwell Features Our Breuer Listing!
  • Bill Interview with Apartment Therapy
  • Marcel Breuer-designed Geller I and Preservation
  • Our January 2022 Newsletter

Search Site

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The Janovitz + Tse Team | Real Estate in the Boston Area : Modernism Specialists

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