The Land that Time Forgot -- Waltham Real Estate Review for 2009

Did you get the pun up there in the title? The play on words? Time? Waltham? Waltham Clocks. Get it?...Ahhh never mind.

Be that as it may, Waltham was certainly the "land that time forgot". Did the economy over the last few years forget to give the kaibash to Waltham? It would seem so.

In 2009, 236 singles went to the "deed shop". That is a dip from 2008's 265, but the average price of those 2009 homes banged out to $412,000 versus 2008's uhhh, $412,000 -- the same "nada" difference. Also days on market changed but a wisp of a hair in the windmills of time: 82 days for 2009 against 85 days for 2008.

It appears Steady Eddie lives in Waltham. I doubt there will be much change in the new year. Based on these numbers we can predict how the market will be. So accurate -- you can set your watch on it.

The Good, the Bad and the Arlington (MA) Sales review

With the hour glass fairly tinkling the last sands of 2009 away, we can report that there were 141 single family homes sold in Arlington in the year (a few more may pop in). Average price was $495,000. This sets out at about 9 grand below asking (call it 2%. This compares out quite well to 2008 where the average price was $483,000 (12k less than '09) for the 115 homes that changed hands. Prices were UP and unit count was UP -- a lot up on the unit count; 22% up on the count, in fact

To the casual observer, it may not seem like there was ssoooooo much action. Casual observers judge action by signs -- how any signs are up and how many come down. I do look at this with a small calculation that I call "signs days". It is a bench mark that takes the number of sales in the year and multiplies it by the days the sign was up from beginning to listing until the day the home went sold. For 2008 those 115 sales took an average of 60 days to sell -- that works out to (115*60) 6900 sign days. For 2009, the 141 sales averaged on market for a speedy minimal 48 days or 6758 sign days. The Casual "looker" did not see any difference in the signs posted on the by-ways of Arlington, hence, a splendid home market has not been made public -- except to we few proud and happy Realtors marching through Arlington.

Don't Turn on the "Waterworks" for Watertown

Don't cry for me Watertown...so the Watertown agents should say.

In 2009 (so far...a few more may slip in), 78 single family homes were sold. This compares slightly to the good to 2008 when 75 "castles" changed hands. Not only that, these castles traded out faster than in 2008. It took 60 days for the lord of the Watertown manors to divest in 2009. In 2008 the lords and ladies had to wait 82 days for their vassals (agents) to get the job done.

As far as pricing goes,...it was a tad to the bleak, nothing like the Black Death of 1348, of course but average prices were a dip from $463,428 in 2008 to $455,707 in "09". $8,000 for a drop is nothing when compared to the whopping of a whack taken in Belmont where (as noted yesterday), the average palace got "pillaged" for about $70,000.

We may have assumed that demand for homes in Watertown has to have been buffeted by the $8,000 tax credit to first time buyers, but that does not seem to have been the case. 30 of the homes sold for under $400,000 in 2009. A look at 2008 shows that 32 homes sold for under $400,000 when the tax credit programs first went into action. In 2007, a scant 25 out of 93 homes sold were in that price range (average sale price $484,424 in 2007). The "stats" do not fully define the issue.

It may well be, after all is said and done, education: seeing prices not dropping from 2008 to 2009 brought the skittish buyers out and days-on-market times shortened. But who knows for sure?...no one...not even Santa.

Pick a Number -- any number (Belmont Sales in Review)

We know, we know...there are a few days left to 2009, and one or two sales may drop in before folks put on the lampshades and dance on tables in anticipation of 2010, but at the risk of jumping the gun, we feel it is nice to put out the sales report for Belmont.

In 2009, 143 single family homes changed hands. This compares to a scant 120 homes in 2008 (Whoopee!!!). Brokers and sales folk will pick that number and tell you the market is up up up by 18% or so. But let us look at a few more numbers...

The brokers had to do Wheel Estate a lot more in 2009...The average home was ON MARKET for 94 days in 2009 against 81 days in 2008. Now I know you folks out there don't care about the wear-and-tear on some agent's Lexus, but holy cow!...all that tootin' up and down Trapelo Road sure puts the cooler in a "wage slave's" Starbucks coffee.

And what with all that driving about, those 143 sales did not churn up the payola per house to the agents as it once did -- the average single family home in Belmont was listed for sale at 764,000 (+/- a few bucks), and sold for 731,000 (+/- a few samolians). In 2008, the average home went on market for 836,960 and passed on to new owners for 801,107 (exactly). That's a 9% drop in price, kiddos!

Looks pretty bleak, eh?...but let us gander to the bright side. Those 120 sales in 2008 grossed out to $96,132,840. If you take a ball park figure that an agent, after all is said and done, comes out with 1% in his or her pocket, then the Lexus agents in Belmont drove off with a collective $961,328 for coffee and new tires in 2008.

In 2009, those depressed sales sold by those depressed souls "overdriving" their Lexuses (Lexii?, perhaps) racked up a gross value of $104,529,711, with the agents pocketing $1,045,297+/-. That works out to a collective 9% INCREASE into the collective glove boxes of "them thar Lexii".

So more sales, longer time selling, and lower prices give us what? Pick a number and you tell us what you want to say about the Real Estate market, but...you can be sure as shootin' the agent's number is on the check.

To My Friends, Associates and Clients...

...from yesterday, today and tomorrow...

It is a bit scary out there; uncertain and unsure, but we will get by. Stick to the plans you've made...

...and especially to my enemies and adversaries, I must say, "Give me a call; we'll talk it out" and if you're still steamed over it, well...at least we tried.

My best "You" to All.