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Newton, MA Real Estate News

By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
Recently Melissa was working an open house, and was talking with people who stopped by. One couple was going over the listing brochure and they were asking questions about it. Melissa was explaining what the various items on it meant. She explained that there were two numbers on it that they needed to look at as they looked at homes to buy. The first was the listing price, and the second was the assessed value. She explained that the assessed value was set by the city last December. She told them that they had to ask themselves, and the sellers, why the listing price was so much higher than the assessed value. She explained there often are real reasons why the listing price may be much higher than the assessed value, such as increasing market prices (not really the case here), or the s...
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
Newton, MA multi-family residence market report October 2011 – Absorption Rate On October 31st there were 34 multi-family residences listed for sale in Newton, MA according to the multiple listing service data (MLSPIN). Absorption rate is a calculation of how many months of housing inventory are on the market based on historical rates of sale per month and the current housing inventory. What this tells us is how long it would take to sell all of the houses currently on the market if no new houses came on the market. This is useful as an indicator of the state of the market, and it constantly changes as new homes are listed and existing inventory is sold.A Seller’s market is considered to be 1 to 4 months supply of housingA Neutral market is considered to be 5 to 6 months supply of hous...
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
Newton, MA multi-family residence market report September 2011 – Absorption RateOn October 3rd there were 34 multi-family residences listed for sale in Newton, MA according to the multiple listing service data (MLSPIN). Absorption rate is a calculation of how many months of housing inventory are on the market based on historical rates of sale per month and the current housing inventory. What this tells us is how long it would take to sell all of the houses currently on the market if no new houses came on the market. This is useful as an indicator of the state of the market, and it constantly changes as new homes are listed and existing inventory is sold.A Seller’s market is considered to be 1 to 4 months supply of housingA Neutral market is considered to be 5 to 6 months supply of hous...
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
Newton, MA condo market report September 2011 – Absorption RateOn October 3rd there were 135 condos listed for sale in Newton, MA according to the multiple listing service data (MLSPIN). To review, the absorption rate is a calculation of how many months of housing inventory are on the market based on historical rates of sale per month and the current housing inventory. What this tells us is how long it would take to sell all of the houses currently on the market if no new houses came on the market. This is useful as an indicator of the state of the market.A Seller’s market is considered to be 1 to 4 months supply of housingA Neutral market is considered to be 5 to 6 months supply of housingA Buyer’s market is considered to be 7 or more months supply of housing   Let's look at the chart...
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
If it is red, white, and green, then this must be the Lake The Lake, also known as the village of Nonantum is the center of Italian heritage in Newton, MA. Just take a look at the streets.     And the fire hydrants. And the street signs. And the street light poles.   And the flags. And even the pole protectors. And especially the sister city.
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
Special places in Newton Upper Falls: Echo BridgeEcho Bridge spans the Charles River between Newton MA and Needham MA. The bridge is located near the intersection of Route 9 and Route 128. The bridge was built to carry an aqueduct across the Charles River in 1875 by the Boston Water Works. It was used to carry water from the Sudbury River into Boston. Each section of the railing on the top of the aqueduct is cast with “BWW” as a logo.Echo Bridge is now on the National Register of Historic Places. It is not in regular use as an aqueduct, but it is maintained for emergency purposes. It was used for an emergency in May of 2010 when a major water main burst leaving 38 metro west communities without adequate water supplies.Echo Bridge crosses Hemlock Gorge a conservation area that is now fil...
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
I lived in five homes with my parents when I was growing up. Two of the houses were in Natick, MA and three of the homes were in Newton, MA. This is the house I feel that I truly grew up in. My parent’s owned the house for thirty years.Both of my parents are blind. My mother lost her eyesight at twenty one. My father lost his eyesight in a chemical explosion when he was sixteen. He also lost his left hand in that accident. My parents met at the Carroll Center for the Blind located in Newton on Center Street.Despite his handicap my father forged on and graduated from Boston University. He went on to receive his Doctorate in physics from Brandeis University. My mother is a published poet and she has performed dozens of recitals each year over the last two decades. We were very lucky to h...
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
Special places in Nonantum ( The Lake ) in Newton MA: Salvi’s Barber ShopSalvi’s Barber Shop is one of the best places in Newton MA (or anywhere for that matter) for a guy to get a haircut. Salvi’s has been in Newton MA forever. It was once on Galen St. It is now at 386 Watertown St. in The Lake (village of Nonantum.) Their phone no: 617-332-8490, but you don’t need to call. Just walk in. Half the fun is the ten minute wait. Salvi’s hours are: Tues. 7:30 a.m. to 5:30 p.m., Wed. 7:30 a.m. to 6:00 p.m., Thurs. and Fri. 7:30 a.m. to 5:30 p.m., and Sat. 7:30 a.m. to 5:00 p.m.  Cash is accepted and there is handicap access.Salvi’s is a Newton MA institution. Everyone at Salvi’s knows each other, or will. People come back for haircuts even after they move out of the Newton area. A visit to Sa...
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
Morning Silver Gallery in West Newton MAMorning Silver Gallery, located at 1276 Washington Street in West Newton Center in Newton MA, is a jewelry and gift shop with a creative selection of items. Morning Silver Gallery has a focus of hand-made, craft items. They have a wonderful selection of silver jewelry, scarves, soaps, candles, gifts and cards. There is a “new-age” selection of items as well. It is a great place to browse.They have a wide selection from very nice hand-crafted, quality items priced accordingly to gift items priced right for college students or anyone on a budget to buy. They have something for everyone.A recent addition to Morning Silver Gallery is a toy section in a space they expanded into last year. They have a great selection of toys. They have educational toys,...
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
The Islington Peninsula in the village of Auburndale in Newton, MA The Islington Peninsula in the village of Auburndale in Newton, MA, is a quiet, secluded neighborhood of ninety-seven single-family homes on and near the Charles River. Despite its seclusion the Islington Peninsula is conveniently located right off of Commonwealth Avenue and is near the intersection and entrances to the Mass Pike and Route 128. Islington Road is off of Commonwealth Avenue, and is the only egress to the peninsula. The Islington Peninsula also includes Kingswood Road, Duffield Road, Rider Terrace, and Malvern Terrace.The Islington Peninsula is partly land that was once Norumbega Park in the village of Auburndale in Newton MA, and much of that land is now city park and conservation land. Norumbega Park was ...
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
Newton MA Short Sale and Lender Owned (REO) Market Report for September 2011Yes, there are short sales and lender owned properties everywhere, even in affluent Newton MA.Short SalesThere are currently 10 properties listed in the MLSPIN that are flagged as short sales requiring lender approval. Of these 10 listings 2 are single family houses, 7 are condos, and 1 is a multi-family. They are in all price ranges from the $200,000s to over $1,000,000. One thing they seem to share is a long time on the market. A couple of the them have been on the market for nearly three years, going into and out of agreement more than once.As a percentage of the housing inventory short sales in Newton MA are a very small percentage. There are 10 short sales out of 396 active listings or 2.5% of the market.An...
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
Parkview Homes affordable housing construction completed in the village of Auburndale MA in Newton MA   The ten affordable housing units of Parkview Homes located at 192 Lexington Street in the village of Auburndale in Newton, MA were recently completed this month and are now being sold. There are nine 3 bedroom units and one 2 bedroom unit in the development. Thirty-seven applications were received for the ten available units, and ten income-qualified people were selected by a lottery operated by the affordable housing consulting firm, SEB, LLC of Brighton, MA. (http://www.s-e-b.com).The development is located adjacent to the Burr Elementary School playground. The entrance is on Lexington Street, but the driveway also connects to Albert Road, a short, residential street, which runs par...
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
Newton, MA condo market report August 2011 – Absorption RateThere are currently 125 condos listed for sale in Newton, MA according to the multiple listing service data (MLSPIN). To review, the absorption rate is a calculation of how many months of housing inventory are on the market based on historical rates of sale per month and the current housing inventory. What this tells us is how long it would take to sell all of the houses currently on the market if no new houses came on the market. This is useful as an indicator of the state of the market.A Seller’s market is considered to be 1 to 4 months supply of housingA Neutral market is considered to be 5 to 6 months supply of housingA Buyer’s market is considered to be 7 or more months supply of housing From the chart we can see that the ...
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
The Cove in Auburndale Park in Auburndale MA (Newton MA) The Cove in Auburndale Park in Auburndale MA (Newton MA) is a wooded picnic and recreation area on the bank of the Charles River. Auburndale Park runs from Commonwealth Avenue where Lyons Field for baseball is located along the Charles River to the Flawed Meadow Conservation Area and connects to a section of the Charles River Reservation. The Cove is located at the north end of the park across the river from the Islington Peninsula. There is a trail that runs the entire length of Auburndale Park. The Cove has a large parking lot off West Pine Street. Just off the parking lot is an area with exercise equipment for doing pull-ups, sit-ups, etc. Then there is a large field. At the back right side of the field is a tennis court and a ...
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
Newton, MA single family residence market report August 2011 – Absorption Rate There are currently 212 single family residences listed for sale in Newton, MA according to the multiple listing service data (MLSPIN). Any agent can use their broker’s online tools or MLSPIN tools to create an absorption rate report. To review, the absorption rate is a calculation of how many months of housing inventory are on the market based on historical rates of sale per month and the current housing inventory. What this tells us is how long it would take to sell all of the houses currently on the market if no new houses came on the market. This is useful as an indicator of the state of the market.A Seller’s market is considered to be 1 to 4 months supply of housingA Neutral market is considered to be 5...
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
Should multiple listing services allow condos to be listed in two separate listings: one as a condo and one as a single family residence? The Multiple Listing Service Property Information Network (MLSPIN) which serves most of Massachusetts allows condos to be listed in two separate listings: one as a condo and one as a single family residence. When the condo sells the listing as a single family residence is cancelled, and only the sale as a condo is reported. The effect of this is that the number of single family residences on the market is over represented. A recent check of the market in Newton, MA found that 10% of the single family residence listings were actually condos. This would mean that the absorption rate reports generated from the MLS data would also be off for single family...
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
The next meeting of the Newton MA school board (also known as the school committee) is on September 12, 2011. School committee meetings are held at 7:30 PM in the Education Center located at 100 Walnut St., Newtonville, MA 02460 unless special notice is given of a different location.   Meeting agendas are posted at least 48 hours in advance of the meeting at Newton City Hall. Meeting agendas are also posted on the Newton Public School's website. The meetings are televised live by NewTV or can be viewed as televised reruns.  Click here for to see the current members of the school board
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
The Newton public schools start back up in a little over two weeks on September 6, 2011, and it is time to look at the school bus schedule.  Click here for the Newton MA Public School Bus Schedules for 2011 - 2012 On a personal note we live near a lot that rents parking space to over a dozen school buses. We are used to the beeping of the buses as they back into their parking spaces, and we hardly even notice it anymore. But soon it is time for the yearly ritual of  safety testing each and every bus before the start of the school year. As a part of the testing the horn of each bus is sounded five times in a row. That's a lot of honking. Sincerely, The Mel and Mel Team  
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
Newton MA Public School Calendar 2011 - 2012 shows that the Newton schools start back up in a little over two weeks on September 6, 2011. It seems like this summer has flown by with its seemingly late start with the un-summer-like weather. So everyone make the most of the next two weeks and get in some last minute summer fun. On a personal note we live near a lot that rents parking space to over a dozen school buses. We are used to the beeping of the buses as they back into their parking spaces, and we hardly even notice it anymore. But soon it is time for the yearly ritual of  safety testing each and every bus before the start of the school year. As a part of the testing the horn of each bus is sounded five times in a row. That's a lot of honking. Click here for the Newton MA Public Sc...
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By Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
((617) 388-3151 | Century 21 Commonwealth)
The City of  Newton, Massachusetts is comprised of 13 villages. Each village has its own history, and own cultural character. This is part of the diversity that makes Newton such a great place to live. Locals identify with their village much like residents of Manhattan, New Yorkers identify with their neighborhoods, such as: Soho, Greenwich Village, Harlem, etc. We were checking the Active Rain leader board, and noticed that some villages of Newton were included in the list of cities and some were not. Those that were not listed turned out to not have post offices. (Several of these post offices have recently been slated for closure by the USPS, but that is another topic.) Perhaps the Active Rain computer programmers populated the city lists from a list of post offices. But, there is ac...
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