Shang Yang Realtor

feeling it everyday

Home valuations are rising faster than incomes. Here's why that could hurt homeowners' wallets More than 80% of recent homebuyers said they regret their purchase, according to a recent Clever Real Estate survey.

Old house vs new house

Good idea!

Great move for students

Northeastern to become permanent tenant at Sheraton Boston Hotel, converting 428 rooms into dorms Northeastern is expected to permanently convert a section of the Sheraton Boston Hotel in Copley Square into undergraduate housing for about 854 students, according to a Universal Hub story Tuesday. Often seen as overflow housing for a university struggling with a housing crisis, Northeastern has te...

Many more just moved to in FL.

These are the 7 richest people in Massachusetts, according to Forbes There are seven Bay Staters on the Forbes 400 list this year, and many are part of the Johnson family, whose members run Fidelity Investments.

Hopefully thhey are really affordable

Affordable housing in the Seaport? That’s the plan. Massport has tapped a Boston-based developer to build a 200-unit, income-restricted apartment building on a Massport site on D Street.

most expensive home ever in MA has to be in Nantucket

$38.1 million estate becomes most expensive home ever sold in Massachusetts The house, called “Beam Ends”, is a total of 15,332-square-feet. It boasts eight bedrooms, seven full baths, and four half-baths.

29 Webster Rd Weston

Boston Celtics Co-Owner Lists Home with Two Basketball Courts Steve Pagliuca’s home in Weston, Mass., is asking $8.999 million

Such a beautiful home!

On the Market: A Luxurious Concord Home Surrounded by Nature This abode was also designed by an award winning architecture firm.

Real winter weather fast approaching!

This Complete Winter Checklist Will Prepare Your Home for Freezing Temperatures If you have a winter storm on the horizon, you'll want to ensure your home is well equipped to handle cold temperatures and snow. Here, we explain how to winterize your home and prepare it for freezing temperatures—use our checklist the next time bad cold weather strikes.

I called it the Lego building:-)

BU finishes its ‘Jenga Building,’ the most environmentally friendly tower in the city - The Boston Globe The new data science center on Commonwealth Ave. will be powered by wind and heated and cooled by geothermal wells that reach nearly one-third of a mile underground.

Great read!

Designers & Realtors Say These 45 Cheap Home Upgrades Give You The Most Bang For Your Buck Home designers and realtors gave Bustle advice on how to upgrade your home on the cheap, and here's what they said.

Waiting for the open house if there will be one:-)

This $38M Estate Is on Track to Be Weston's Most Expensive Sale Ever This $38M estate is on track to be Weston’s most expensive sale ever

New Non-MLS Listing. 55 Hillcrest Rd, Weston. Offered at $3.5M.

Spectacular waterfront estate. 7 Beds, 8 Baths, 10000+ sqft, 2 Acres.

The latest ranking of public high schools in Boston area

Chart: The Best Public High Schools in Greater Boston Our annual guide to the top-performing schools in the region.

Another property sold. Congratulations to my sellers!

445 Greendale Ave, Needham, MA 02492 - 3 beds/2 baths (MLS PIN) Sold: 3 beds, 2 baths, 1836 sq. ft. house located at 445 Greendale Ave, Needham, MA 02492 sold for $980,000 on Jun 29, 2022. MLS # 72978953. Charming & beautifully updated, welcome home to this ...

Another property sold!

17 Otis St #308, Cambridge, MA 02141 - 2 beds/1.5 baths (MLS PIN) Sold: 2 beds, 1.5 baths, 939 sq. ft. condo located at 17 Otis St #308, Cambridge, MA 02141 sold for $975,000 on May 25, 2022. MLS # 72963255. OPEN HOUSE CANCELED! SELLER ACCEPTED AN OFFER!!!! Enjoy ...

Another property sold! Listed at $819k sold at $935k!

26 Wilton Street, Waltham, MA 02453 Updated Young Colonial in Warrendale

I am proud to introduce this charming and beautifully updated/expanded Cape style home in Needham!

Open house this weekend. Saturday 11-1 and Sunday 2-4.

Shang Yang Realtor updated their phone number.

Real Estate Dictionary: Average/Median Sale Price

Q: What does average/median sale price tell us?
A: To be honest, not much. They are relatively unreliable metrics.
Q: But they are quite often quoted in news and real estate analytical articles?
A: On a national/State level, they may be meaningful. On our local/town level, they are definitely not.

Formulas: In a specific town/area, within a specified time frame (e.g. a year or 6 months),
Average sale price = the sum of all home sale prices / total number of sold homes.
Median sale price = arranging all home sale prices from low to high, the one in the middle.

Average and Median sale prices of Weston single family homes in the past 5 years and Jan. 2022 (see attached picture).

Neighbors let’s work together on finding out why these metrics are unreliable. Think about a scenario where we analyze the housing price trends from 2020 to 2021. Suppose we have 3 sold homes each in our 2020 and 2021 sample data set:
In 2020, the 3 homes were sold at 100k, 110k and 120k. Average is (100k+110k+120k)/3 = 110k. Median is 110k.
In 2021, the 3 homes were sold at 100k, 100k and 220k. Average is (100k+100k+220k)/3 = 140k. Median is 100k.

The average sale price indicates a 27.3% (140k/110k-1) Year-over-Year price increase. However, the median indicates a 9.1% (1-100k/110k) decrease. It’s not a perfect example, but we can see two issues with these metrics:
1) They depend highly on the sample data set. An example of extreme would be that in one year all sold properties were in a lower price range, and in the next year they happen to be all in a higher price range. As a result, these metrics will both indicate a huge price increase, which is apparently not true.
2) The average sale price may be heavily skewed by even one sale that is at an extraordinary price. In the example above, a sale price of 220k in 2021, which is far higher than typical, single-handedly raised the average sale price metric.

Question for you: How to overcome the two issues above? A: Use a near-perfect sample set! That’s why on a national/State level, where the data sets are huge and can tolerate outliers/extreme cases much better, these two metrics become more meaningful.

To find out the value of your home, please do NOT rely on these metrics. Instead, we need to do a scientific comparison with a group of similar, recently sold homes in the same area. We call it a comparative market analysis (CMA).

Want to chat more about the average/median sale price or your home value? Chat with/Text Shang at 781-330-2015.

New Waltham Listing! Open House this weekend!

26 Wilton Street, Waltham, MA 02453 Updated Young Colonial in Warrendale

Another property sold! $45200 over asking!

6 Skylar Dr, Southborough, MA 01772 - 3 beds/2.5 baths (MLS PIN) Sold: 3 beds, 2.5 baths, 2186 sq. ft. house located at 6 Skylar Dr, Southborough, MA 01772 sold for $764,200 on Feb 25, 2022. MLS # 72930943. Located in one of the most desirable neighborhoods, this...

Real Estate Dictionary: List-to-Sell Ratio

Q: We keep hearing that housing prices are rising. Is it true? A: In most price ranges, yes, absolutely!
Q: A scientific way to prove that? Q: We often see average List-to-Sell Ratios above 100%!

List-to-Sell ratio measures how far the final sale price differs from the original listing price. A List-to-Sell ratio above 100% usually means a bidding war where multiple buyers put in offers.
Formula: the sale price of a home/the original list price, expressed in percentages.

See photos for Weston and Wellesley List-to-Sell Data.

Neighbors let’s think together about the following example, which is not real but tells a lot about what List-to-Sell ratio indicates. Suppose a house was listed at $100k (a fair price based on market demand and supply). A buyer bought it at $105k after bidding with other buyers, which converts to a List-to-Sell ratio of $105k/$100k = 105%.
Next, let’s suppose the buyer decided to list the house for sale immediately after she/he bought it. Question for you: What is a fair listing price now? The simplest answer is: $105k! See, same house, $5k price increase!

To conclude, with a List-to-Sell ratio close to or above 100%, homeowners can confidently list their homes at a higher price than previously sold comparable homes. When that happens, housing prices are rising.

Many other real estate terms/data may also indicate housing price trends (e.g. the average sale price, etc.). But they are less accurate compared to average List-to-Sell ratio, which is directly tied to the market’s demand and supply relationship.

Want to chat more about List-to-Sell ratio or your home value? Chat with Shang at 781-330-2015.

Great idea!

Lexington To Be 1st In US To Hang Solar Panels On Noise Barriers Through a new project, the solar panels will generate enough power for up to 120 homes, just by sitting on noise barriers along I-95.

Always have a dream of going to the space… like in

We Finally Know The True Extent of Space Destroying Astronauts' Red Blood Cells The human body did not evolve to handle life in space, and it shows in our very blood.

Time flies

3G networks will disappear this year — and that's bad news for your car. Here's why Mobile carriers are shutting down their 3G networks this year. The planned shutdowns could create a headache for drivers across the country.

6 Skylar Drive in Southborough is now new to the market!

https://shangrealtor.com/properties/6-skylar-dr-southborough-ma-01772-72930943

Real Estate Dictionary: Absorption Rate

Q: What determines housing prices? A: The law of Supply and Demand, which we all know very well from Econ101!
Q: How to measure Supply and Demand in Real Estate? A: The Absorption Rate!

Absorption rate is intuitive and straightforward to understand! It measures the speed homes are sold in a specific market, in a specific price range, and in a specific time frame (e.g. one month).
Formula: Absorption rate = # of homes sold / # of total available homes within the time frame.

Absorption rates of Wellesley single family homes (price range $750k - 2.5m) in 2021: (Please see the photo attached)

Let’s take $1.75M - $1.99M price range for an example. In 2021 there were 31 homes sold, which converts to 2.583 homes per month. Currently there is 1 home on the market, which means 1/2.583 = 0.39 months of inventory. The absorption rate, which is the reciprocal, is 2.583/1 = 258.3%.

Traditionally an absorption rate above 20% signals a seller’s market. As shown in the table, we are well above 20% threshold in every price range, meaning we are in a very strong seller’s market (demand is much higher than supply)!

Based on 1) home value and 2) absorption rate, buyers and sellers can scientifically measure the demand and supply.

Interested in chatting more about absorption rate or your home value? Chat with/Text Shang at 781-330-2015.

Real Estate Dictionary: Absorption Rate (Weston MA)

Q: What determines housing prices? A: The law of Supply and Demand, which we all know very well from Econ101!
Q: How to measure Supply and Demand in Real Estate? A: The Absorption Rate!

Absorption rate is intuitive and straightforward to understand! It measures the speed homes are sold in a specific market, in a specific price range, and in a specific time frame (e.g. one month).
Formula: Absorption rate = # of homes sold / # of total available homes within the time frame.

Absorption rates of Weston single family homes (price range $750k - 2.5m) in 2021: (Please see attached photo)

Let’s take $1.75M - $1.99M price range for an example. In 2021 there were 20 houses sold, which converts to 1.67 homes per month. Currently there are 4 homes on the market, which means 4/1.67 = 2.4 months inventory. The absorption rate, which is the reciprocal, is 1.67/4 = 41.7%.

Traditionally an absorption rate above 20% signals a seller’s market. As shown in the table, we are well above 20% threshold in every price range, meaning we are in a very strong seller’s market (demand is much higher than supply)!

Based on 1) home value and 2) absorption rate, buyers and sellers can scientifically measure the demand and supply.

Interested in chatting more about absorption rate or your home value? Chat with/Text Shang at 781-330-2015.