2019 Pending Sales

January brought record cold weather to the downtown Boston area but it didn’t cool down the real estate market Yes, this is a time of seasonal quieting for home buyers and sellers, but the year overall is proving to be a bright one for Boston real estate agents and their clients

Pending sales are the highlight of this blog post for the month of January, with 100 downtown condos placed under pending. A pending sale is just that – pending. So what percentage of those sales make it to closing can vary. .

When does a sale become pending?

When does a sale become “pending”? As you probably know already, there are many steps to get through from the buyer’s reaching out to their downtown Boston real estate agent, deciding to buy a Boston midtown condo, and then actually making the transaction final. Once an offer has been accepted, the buyer must secure financing and draw up a contract with their real estate agent. The buyer’s agent must then present that contract to the seller’s agent and negotiate over the various terms it entails – what is included with the midtown condo, what kind of inspections will be performed, and so on. When the contract is accepted, the sale is “pending” until all of the inspections are over and the money is in the seller’s hands.

As you can imagine, there’s a lot that can go wrong here, which is why deals occasionally “fall through” or fail to transition from “pending” to “sold”. So what’s average? It seems that the success rate for Boston midtown real estate agents (and all of the other parties involved) to move a home from “pending” to “sold” is variable, but I think as long as we’re over 90%, we’re doing pretty well.

Conclusion

What can you, the Boston downtown condo buyer or seller, do to help encourage the process? Pick a reliable lender who won’t change the terms of the loan at the last minute – your real estate agent can make a few recommendations. Likewise, the title company, home inspectors, etc. you use should be trusted, reliable, and experienced. The most important thing is probably to work with a real estate agent who can help you navigate all of these terms, one who has already closed numerous of deals in the area. I’d love to help. Call me anytime: 617-720-5454.

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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