With Boston’s real estate market experiencing an unprecedented resurgence, the market is currently cresting into new levels of buying intensity. The situation is this: demand is extremely high while Interest rates are exceptionally low–many individuals, families and professionals are looking intently for their Boston dream home and working to navigate the challenges and pitfalls attendant with the purchase and creation of such.
NBC Boston had the following to say on this:
In such a competitive market, many prospective homeowners are having difficulty finding their ideal home and are choosing an alternate course–turning to an imperfect new home purchase and combining it with strategic home remodeling options to create their envisioned perfect home.
In this climate Design Build as a method is trending in Boston due to the increased level of client service it provides—combining architectural planning, interior design and artisan building within a single creative platform. With the sole-source accountability of Design Build client stress is greatly reduced–as are change orders, budget overspends and schedule overruns. Design Build is a simpler, more straightforward approach to planning and building—in line with the natural role of the Architect throughout history as Master Builder.
NEDC sat down with Greater Boston real estate expert and veteran Jamie Grossman of Gibson Sotheby’s to get her insight and recommendations on the current local real estate market.
Jamie has spent decades in the residential real estate industry and is seasoned in navigating the home buying and selling process. With a sharp eye for design, she helps her clients envision the full potential of their new home. For sellers, she offers a high level of detail, coaching homeowners as they ready their homes for a successful sale. A real estate entrepreneur, she founded and ran her own business connecting contractors and sub-contractors with homeowners–greatly simplifying the home renovation and maintenance experience.
After raising three daughters in Weston, Jamie now lives on West Newton Hill, bringing with her the local expertise that comes from living in both towns. Jamie ’s leadership in the community includes the former Board Chair of the Jewish Family & Children ’s Service, founder of Shoulder to Shoulder–a military family support program of JF&CS, BIDMC Board of Overseers, Greater Boston Veteran Collaborative, Home Base Program Red, White and Blue Alliance, and the Dana-Farber Susan F. Smith Center for Women’s Cancers Executive Council. She has also enjoyed many years riding the Pan-Mass Challenge.
NEDC: Hello Jamie! What is a current overview of the Boston market from your perspective?
J.G. The Boston market is in full swing with buyers returning to the city and looking for great opportunities. I am focused in the Metro West area in towns like Newton, Weston, Wellesley, Needham, Wayland, Dover, Westwood and Sudbury. Homebuyers in all price ranges are eager to make their next move. With reduced inventory, we are seeing more buyers willing to consider home renovation projects, rather than waiting to find a home with new construction. The historically low interest rates and low inflation are fueling home buying. I counsel buyers to work with an experienced Realtor to position you to win the bidding wars.
NEDC: What are the strongest trends you are currently seeing?
J.G. On interiors, I am seeing a departure from the neutral gray and white paint schemes to some warmer tones and even more welcoming living environments. Home offices are more important than ever—buyers seek separate spaces for work and family. The open floor plan is still important and desirable, with a preference to identify separate space for work and schooling. As people start to return to the office, there is a new awareness that work can be accomplished at home, and I believe the need for useful home offices is here to stay. Home gym space has also become more of a focus.
Do you have experience with DesignBuild? Would you recommend?
J.G.. I prefer renovation over new build as I love breathing new life into an older home. This takes vision and a lot of perseverance.
I have had more than 30 years of experience working with Design-Build firms. Behind every wall is an unknown story–meaning unexpected repairs you may have to tackle. This is where the value of a strong Design Build firm comes into play. Managing expectations, establishing clear communication channels and expert project and budget management are important steps when interviewing a firm.
NEDC: What would be your advice to potential home buyers and sellers at this time?
Managing expectations, establishing clear communication channels and expert project and budget management are important steps when interviewing a firm.
I love the concept of Design Build as you bring the architecture and planning under one roof.
The design stage is so important and requires patience from the client and the Design Build team. I recommend clients create a Pinterest/idea board to share with the designers. Understanding the budget and making the hard decisions of “would like to have” and “nice to have” are all a part of the conversation.
NEDC: What would be your advice to potential home buyers and sellers at this time?
J.G. There is a lot to navigate during the selling/buying process and sellers are realizing the value of working with an experienced professional. For buyers, there is so much nuance to today’s competitive market that working without a Realtor is like swimming in the dark–you cannot imagine what obstacles you may encounter or how you will navigate the bumpy waters. With historically low interest rates and so much demand, you may pay more for your home than you had planned. However, as long as you stay close to your budget and are willing to make home improvements, I tell my clients, “If you love the house, buy the house!”
Jamie can be contacted any time at the following:
Email: Jamie.Grossman@Gibsonsir.com
IG: @jamiegrossmanrealestate
Linkedin: www.linkedin.com/in/jamiegrossman1/
Website: www.gibsonsothebysrealty.com/agents/jamie-grossman
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