Real Estate Q&A: Wellesley & MetroWest | Elke Cardella

Question 1

What's a RIO, and why did it change in Wellesley?

Accepted Answer

A Residential Incentive Overlay was a special zoning permission that let a developer build more condos or apartments than the neighborhood's normal rules allow, up to 24 units an acre, even on a street zoned for single families, as long as Town Meeting approved it. On October 13th the state signed off on Wellesley's change, so no new RIOs can be created anywhere in town. The only exceptions are four sites that were already approved.

Question 2

Does a finished basement count toward a home's square footage?

Accepted Answer

It can, and it's something that can be confusing when you're looking at houses. In MLS PIN, finished basement space can be included in the total square footage if it's finished to a reasonable standard, and it's identified separately as below-grade space. The listing agent and seller decide whether to include it, subject to MLS rules. Keep in mind that two homes with the same reported square footage might have very different layouts, and 500 square feet in a finished basement might not be worth the same as 500 square feet upstairs. So when you're comparing homes, make sure you're comparing apples to apples.

Question 3

How many homes are torn down in Wellesley each year?

Accepted Answer

Demolitions in Wellesley peaked at 63 in 2021 and have settled at around 40 a year, roughly half a percent of the town. That sounds small, but it adds up to about 400 houses a decade. So if you're in an older home on a good lot, your best buyer might be a builder, and that's worth knowing before you list.

Question 4

How late is too late to list my home in the fall?

Accepted Answer

Later than most people think. The buyers still out in November aren't browsing. They're relocating or working against a deadline, and they'll show up in the rain. But you want your first two weeks on market before Thanksgiving week, because that week the market goes quiet and you just accrue days on market. So if you can be live by the first week of November, go. If you can't, use the winter for the work and come out strong in spring.

Question 5

How do I help my parents sell the home they've lived in for decades?

Accepted Answer

If you're helping your parents sell the house they've lived in for forty years, think of it as a team effort from the very first conversation. Their CPA should weigh in early, because a married couple can exclude up to $500,000 in gains on the sale, and a Wellesley home bought in the 1980s can be well past that. An attorney who understands elder law can make sure the title, the trust and the powers of attorney are in order well before closing, and a senior move manager can take on the sorting and packing so your parents can focus on what's next. When everyone is working together before the house is even priced, there are far fewer surprises along the way.

Question 6

How do I find out if an older Wellesley home has a buried oil tank?

Accepted Answer

One thing I do to help my buyers is call the fire department and ask whether they have a record of a buried oil tank on the property. If they don't, that's not a guarantee there was never one. It only means nothing was ever recorded. But that's a much better answer than a record confirming one was there, because in that case it would need to be removed and the soil tested before you purchase the property. Massachusetts liability is strict, so whoever owns it when it's found pays, and cleanup can pass fifty thousand dollars.

Question 7

If my budget is under $1.5 million, is MetroWest even an option?

Accepted Answer

Yes. Here's the percent of inventory under $1.5 million, town by town: Medfield 77%, Natick 73%, Sudbury 70%, Westwood and Wayland both 67%, Sherborn 62%, Lincoln 48%, Concord 35%, Needham 33%, Dover 28%, Wellesley 20%, and Weston just 12%. So there's a lot of it, but the town you look in matters most.

Question 8

Could I take my 3% mortgage with me to my next house?

Accepted Answer

Right now, no. But there's a bill in Congress, introduced by a New Jersey congressman, that would let homeowners carry their rate, balance and term to a new property instead of starting fresh at today's rates. It still has to pass, and even then Fannie and Freddie would get 180 days to start buying these loans. But it names the real reason so few Wellesley homeowners are listing: nobody wants to trade a 3% rate for today's.

Question 9

Should I list my home in August or wait until September?

Accepted Answer

I'd wait. August is quiet, and a house sitting in an empty market isn't getting seen, it's just accruing days on market. Your first two weeks on market bring the most traffic and the best offers, so you want those weeks in September when buyers are back, not in August when half of them are on the Cape or in Vermont. Use August for the painting, the landscaping and the Title V if you're on septic, and be ready when they show up.

Question 10

How much have Wellesley home prices gone up over time?

Accepted Answer

About 65 years ago, in the early 1960s and the middle of the Cold War, the median home price in Wellesley was around $69,000. Today it's about $2.1 million. That's not appreciation, that's a different planet. If that same growth curve holds for the next 65 years, the median home in Wellesley will run you about $64 million. Sit with that for a second. The Cold War ended. Home prices didn't get the memo.

Question 11

What condition does a house need to be in at the final walk-through?

Accepted Answer

The contract only requires broom-swept condition. What brings me pure joy as a real estate agent is arriving at a buyer's final walk-through and finding that the sellers have gone the extra mile. Maybe they hired professional cleaners. Maybe they spent hours cleaning it themselves. Either way, it's such an incredible gift to the new owners. That actually happened to us when we bought our home in Wellesley, and years later, I still remember how welcomed it made us feel. Sometimes the best way to start someone's next chapter is with a sparkling clean home.

Question 12

Can a seller reject a full-price offer?

Accepted Answer

Yes, they can. There's no rule that a full-price offer has to be accepted. Sellers can decline for any lawful reason, whether it's the financing terms, the closing timeline or a better offer sitting next to it. And plenty of homes are priced low on purpose to spark a bidding war, so “full price” might still land under what the seller actually expects. Either way, full price is never a guarantee. You might need to learn the whole story.

Question 13

Should I replace an old furnace before I list my house?

Accepted Answer

I've watched two deals fall apart this spring over the same thing: a 30-year-old furnace. Sellers, buyers aren't just looking at your kitchen. Inspectors are looking at your mechanicals. An old furnace reads as a $15,000 problem, and it can show up at the most inconvenient moment: mid-negotiation. Replacing it before you list may cost less than the price cut you'll give up later. Thinking about selling? Let's go through your house before the inspector does.

Question 14

What should I set my thermostat to when I go on vacation?

Accepted Answer

Don't turn it off. That's a mistake that can cost you thousands. Here's the sweet spot. In the summer, set your AC to about 85 degrees: warm enough to save on your bill, cool enough to keep humidity from damaging your floors, furniture and walls. In the winter, never go below 55 degrees. Any colder and you're risking frozen pipes, and a burst pipe can flood your whole house while you're sipping a margarita on a beach somewhere. So set it, don't kill it, and come home to the house you left.

Question 15

Has the Wellesley real estate market cooled off?

Accepted Answer

It hasn't. So far this spring, nearly 6 in 10 Wellesley homes are selling over asking, up from 4 in 10 last year. The median days to offer is about four, and sellers aren't cutting prices the way they did last spring. Prices themselves are steady, with a median sold price around $2.2 million, but competition is fierce. If you're a buyer, come in strong. Sellers, this is your window.

Question 16

What makes an offer lose on a Wellesley home?

Accepted Answer

I've read hundreds of offers on Wellesley homes. Here's what loses. Number one: contingency overload. Inspection, financing, appraisal and a home sale contingency? That's four reasons for a seller to pick someone else. Number two: the unknown lender. A pre-approval from an online lender nobody's heard of makes listing agents nervous. A local lender who closes on time is better. Number three: the vague escalation clause. No cap, sloppy language? Agents don't trust it.

Question 17

What does it mean to sell your house as-is?

Accepted Answer

It means you're telling buyers upfront: I'm not making any repairs. That's it. It does NOT mean buyers can't inspect. They absolutely can, and if they find something they don't like, they can still back out. As-is just takes repair negotiations off the table. But here's the reality: buyers read into it. As-is can signal an inherited property, a divorce, financial pressure or just a house that's been neglected. Even if none of that is true, the stigma is already working against you. So if you're listing as-is, pricing it right from day one isn't optional. That's how you get serious buyers instead of lowballers.

Question 18

How can you tell if a home is intentionally underpriced?

Accepted Answer

A few clues. First, look at the list price relative to recent comps. If it feels noticeably low, but not crazy low, that's usually intentional. Second, check the strategy. Is there an offer deadline just a few days after the first open house? That's a big signal they're trying to create competition. Third, look at the presentation. If the house is beautifully staged, professionally photographed and marketed heavily, but priced low, it's likely strategic. The goal isn't to sell at that price. It's to drive multiple offers and push the final price higher.

Question 19

Do purchase and sale agreements usually get signed on time in Massachusetts?

Accepted Answer

Not usually. In my experience, maybe 20% of the time. In Massachusetts, once you have an accepted offer, there are a lot of moving parts: inspections, negotiations, and coordination between both sides and the attorneys. Even when everyone is on the same page, it's very common for the P&S date to shift by a few days. When it is delayed, the attorneys send emails to each other confirming the delay, so legally it's usually not a big deal. So if your P&S gets pushed a bit, don't panic.

Question 20

How do you decide on a list price for my home?

Accepted Answer

I gave two valuations this week that came in lower than what the sellers were hoping for. That's always a tough conversation, when someone has $2.5M in mind and I'm telling them it's closer to $1.9M. But I won't inflate a price just to win business. That doesn't serve anyone in the long run. I use a pretty rigorous three-part process to determine market value. Once I land on that number, I usually round slightly down, a percent or two, to get to a clean, strategic list price. In this market, it's almost always better to be a little under than a little over.

Question 21

Can you turn a 3-bedroom into a 4-bedroom in Wellesley?

Accepted Answer

Yes, but there are four considerations. First, egress. A legal bedroom needs a proper window or door for safety. Second, ceiling height. You'll generally need around 7 feet to count it as living space. Third, septic capacity. If the home is on septic, you cannot market it as a 4-bedroom unless the system is rated for four. Fourth, smoke and carbon monoxide detectors. The Wellesley Fire Department will require them in the right locations before closing. Bottom line: totally doable, but it needs to be done correctly to count and add value.

Question 22

What's the difference between recorded land and registered land in Massachusetts?

Accepted Answer

Massachusetts actually has two systems for tracking property ownership. About 90% of homes are recorded land. Think of that like a big public filing cabinet at the Registry of Deeds. Every deed gets recorded there, and when you buy a house your attorney reviews the history to make sure everything checks out. They have to do that because the Registry doesn't verify that the documents are actually correct. About 10% of properties are registered land. Those went through a Land Court process where the court confirmed the ownership and boundaries and issued something called a Certificate of Title. With registered land, the court continues to track ownership, so every new deed or mortgage has to be officially registered through the Land Court. For buyers and sellers it doesn't really change much. It just means a few extra steps behind the scenes during closing.

Question 23

What's happening with the Morses Pond renovation in Wellesley?

Accepted Answer

Under the proposed site plan, green space will replace the existing building, and two new buildings will go roughly where the playground is today. One will have men's and women's restrooms. The other will have a first aid center and lifeguard spaces. There will also be a new 4,000-square-foot playground. The proposed buildings have a lovely modern boathouse design, giving me Harry Parker Boathouse on the Charles vibes. I run at Morses Pond a lot, so I'm excited. As of March 2026, the project was in the design and approval phase, with construction expected to begin in 2026 and completion anticipated in 2027.

Question 24

Why should I meet with a real estate agent early, before I sell my house?

Accepted Answer

When I meet with sellers early, I help them create a punch list of strategic improvements that can take time: a landscaping refresh, paint updates, lighting swaps, decluttering and sometimes staging, and even simple details like re-caulking bathrooms (I'm a stickler for that one) so everything feels clean and well maintained. I also have my own list of agent to-dos: confirming permit history, oil tank research, square footage research, valuation, photography and more. The homes that feel effortless to buyers almost always had a smart plan behind the scenes.

Question 25

Does Wellesley have more Colonial homes than the U.S. average?

Accepted Answer

First, what's a Colonial? Think classic New England style: usually two stories, a rectangular shape, balanced windows, and a traditional, timeless look. Nationwide, about 49.8% of single-family homes for sale are Colonial or Colonial-inspired. In Wellesley, that number jumps to about 66%. For comparison, Needham, our neighbor to the east, has more architectural variety, with about 51% of homes classified as Colonial. So yes, Wellesley simply has a higher concentration of Colonial homes than the national average, which contributes to the town's overall look.

Question 26

What is a lintel, and why is it in my inspection report?

Accepted Answer

A term came up in a recent inspection that I realized not everyone knows, and honestly, I hadn't heard it used in a while either: lintel. A lintel is the horizontal beam above a window or door. Its job is to support the weight of the wall above the opening. Sometimes they're stone. Sometimes steel. Sometimes wood. And occasionally, they're something we need to repair or replace, which is why they show up in inspection reports. Every house teaches us something.

Question 27

What is pyrrhotite, and should I worry about it in a MetroWest home?

Accepted Answer

Pyrrhotite (say PEER-uh-tite) is a naturally occurring mineral that was found in some concrete foundations poured between the late 1980s and 2015, primarily in central and western Massachusetts and parts of Connecticut. Over time, it can react with water and oxygen, causing concrete to expand and crack. It hasn't been a widespread issue here in MetroWest, but if you're buying or selling a home built during that timeframe, it's something we evaluate early, just to be proactive. In real estate, awareness is everything.

Question 28

How does an escalation clause work?

Accepted Answer

An escalation clause says the buyer will beat any competing offer by a certain amount, up to a cap. So for example, if we offer $1.5 million with a $10,000 escalation over the highest offer, up to $1.6 million, we're telling the seller we're serious, but we're not overpaying blindly. Here's the key: you only escalate if there's a legitimate competing offer, and the seller has to show proof of a bona fide offer.

Question 29

Does my house have an odor, and would I even know it?

Accepted Answer

Here's the tricky part: we get used to the smell of our own homes. You might not notice it at all, but buyers will the second they step inside. If there's an odor, it needs to be fixed. A few simple ways to tackle it: Ask a friend or agent for an honest smell check. Deep clean carpets, rugs and upholstery. Replace HVAC filters and air out the house daily. Eliminate the source: pet areas, trash, drains, or dirty or damp basements. Because buyers won't ask why. They'll just say no.

Question 30

Can I buy a house before I sell my current one?

Accepted Answer

Yes, you can buy a house even if you need to sell your existing home first. It's a two-part process. Step one: you make an offer on the new house, and the seller agrees to a home sale contingency, giving you time to sell your existing home. Step two: you list your current home and accept an offer with a contingency that gives you time to get to contract on the new house. I know it sounds complicated, but I've done this with clients and it can work. One tip that really helps: if the deal falls apart because the new purchase doesn't come together, you can offer to reimburse your buyer for their inspection. That lowers the risk for them. If you really want to buy before you sell, the alternative is creative financing. Some lenders offer bridge-loan style products, with fees. If you have questions, call or text. I'm happy to talk it through.

Question 31

What design trends are starting to go out of style?

Accepted Answer

Formal living rooms that are rarely used. Buyers are prioritizing rooms they'll actually live in. Open shelving everywhere. A little can be great, but when it replaces real storage, it often feels impractical. Oversized, cold finishes on main living levels. Buyers are leaning back toward warmth and texture. Statement walls in multiple rooms. One can be fun, but too many can feel choppy. And smart-home overload. Technology is great, but if it feels complicated, buyers see it as work, not a perk.

Question 32

What does “good bones” actually mean?

Accepted Answer

You hear this phrase all the time: “it has good bones.” Most of the time, what people really mean is that the house just isn't updated yet. But good bones actually has nothing to do with finishes. It's about the things that are hard, or impossible, to change: the layout, ceiling height, natural light and how the house flows. Kitchens, bathrooms, paint: those are the easy parts. The bones are where the walls are, where the stairs land and how the rooms connect.

Question 33

Can you over-improve a home?

Accepted Answer

Yes, and most people don't realize it. Spending more doesn't always mean getting more back. Every neighborhood has a price ceiling, and once you pass it, buyers just won't pay for the extras, even if they're beautiful. Things like ultra-luxury kitchens, specialty tile or very custom finishes often cost more than they return. What buyers do pay for is smart layout, good condition, and improvements that match the neighborhood. That's why I always look at the data before anyone renovates. It saves a lot of money and regret. That said, if a renovation brings you real joy and you're staying long-term, that's okay too. Just go in with eyes open.

Question 34

What is the 10% affordable housing threshold in Massachusetts?

Accepted Answer

When at least 10% of a town's year-round homes qualify as affordable under state rules, the town operates under a slightly different review framework for housing projects. In Wellesley, getting there didn't happen all at once. It was the result of years of steady development. Projects like Ardemore at Wellesley, Morton Circle, and Linden Street and Waldo Court all added long-term affordable units that count toward the state's inventory. Reaching 10% doesn't stop new housing or reduce the need for builders. It simply reflects progress, and it sets the stage for continued collaboration as new projects move forward.

Question 35

What's happening with the MassBay land in Wellesley?

Accepted Answer

The state has decided that a 45-acre piece of land at MassBay is “surplus” and wants to sell part of it to build housing. The money from that sale would go back to MassBay to fund new campus buildings. Under a new state law, the town doesn't have much say in what gets built. The state has floated a plan for roughly 180 housing units, and the town has raised concerns about density, traffic and the environment. A big question is the wooded land that so many people use. The state says it's not planning to build on the forest, but hasn't clearly explained how that land would be protected long-term. Because of the uncertainty, the town postponed its public workshop and is considering legal action. Nothing is finalized yet, and nothing is being built right now.

Question 36

How does Wellesley calculate my home's assessed value?

Accepted Answer

I'm a Wellesley resident, and I get this question a lot. In Massachusetts, every home is assessed at fair market value, based on what comparable homes actually sold for, not asking prices and not Zillow estimates. The town uses arm's-length sales only, meaning real, open-market transactions, no private or unusual sales. Timing matters. Your assessment is based on sales from January through December of the prior year, with a January 1 valuation date, so there's always a built-in lag behind today's market. That's also why assessed values usually run below market values: Wellesley prices have generally risen during the lag. And here's the biggest misconception: your assessment doesn't set your taxes, the town budget does. Step one: the town decides how much money it needs to raise for the year. That total is called the tax levy, and its growth is capped at 2.5% a year, plus new construction. Step two: your assessed value determines how much of that total you pay. I checked these details with the Wellesley Assessors' Office.

Question 37

If I had $1,000 to get my home ready for market, where should it go?

Accepted Answer

Option one: lighting. Brighter, warmer bulbs and simple modern fixtures make a huge difference. Option two: paint. A fresh coat in one or two key rooms instantly improves your photos. Option three: updated hardware. Small change, big impact. Option four: quick landscaping. Clean edges and fresh mulch go a long way. These simple updates consistently help homes show better and stand out online in Wellesley and MetroWest.

Question 38

Should I consider a 50-year mortgage?

Accepted Answer

There's been a lot of talk about the 50-year mortgage. Politics aside, it really comes down to choice. A longer term can mean lower monthly payments, which helps some buyers qualify or feel less stretched, especially in higher-priced markets like Wellesley and MetroWest. But the tradeoff is slower equity build and paying more interest over time. It's not good or bad. If it becomes widely available, it's just another tool. What matters is whether it fits your long-term plan.

Question 39

Why isn't my house selling?

Accepted Answer

I was scrolling Instagram and a quote from a Manhattan broker stopped me in my tracks: “If it isn't selling, it's price, price, price.” He talked about “respecting the buyer” in pricing, meaning buyers today know the market. They know when a home is overpriced, and they just move on. And he's absolutely right. I've seen it time and time again. You can change the throw pillows, tweak the marketing, even redo the photos, but those are just drops in the bucket compared to the elephant in the room: pricing.

Question 40

Which home loans have the highest and lowest interest rates?

Accepted Answer

Here's a quick rundown, from highest to lowest: At the top are construction loans: short-term and higher risk. Next come HELOCs, or home equity lines of credit, which are usually variable and a second loan. Then jumbo loans, which exceed standard loan limits. Below that, the conforming 30-year fixed, the most common mortgage type. And finally, the conforming 15-year fixed, typically the lowest rate of all. So in order: construction, HELOC, jumbo, 30-year, 15-year.

Question 41

Where can I grab a quick bite in Wellesley?

Accepted Answer

Here are five great spots in and around Wellesley. The Linden Store: a true Wellesley staple. Family-run, friendly, and I love their Turkey Avocado sandwich. Sweetgreen: fast, fresh and healthy. The Chicken Pesto Parm is my go-to between appointments. Old School Pizzeria: quick slices and great flavor, right in Wellesley Square. Yama: fresh sushi, fast service, perfect when you want that hit of salty deliciousness. Cava in Framingham: just a few minutes down Route 9, with customizable Mediterranean bowls that are always delicious. Net, net: Wellesley's got you covered for a quick bite!

Question 42

Can I waive a home inspection in Massachusetts?

Accepted Answer

As of October 15, 2025, a Massachusetts law protects homebuyers' right to a home inspection. Buyers can no longer offer to waive their inspection to make their offer more competitive, and sellers can't accept an offer that includes that waiver. Buyers have a protected right to an inspection. Sellers can't accept an offer that includes an inspection waiver. Sellers must give each buyer a signed disclosure form acknowledging this right. Buyers can still choose not to inspect, but they can't waive it upfront. Exceptions include sales to family members, foreclosures and auctions, and some new construction that comes with a builder warranty.

Question 43

Should I digitize my old photos before I move?

Accepted Answer

Yesterday I picked up a little USB drive from a company in Newton called EverPresent. Just a month ago I dropped off three boxes of loose photos and albums, about 2,500 pictures. They digitized everything, and now all those memories live safely on a drive instead of in piles of boxes. On my way out, I let the old albums go. Why does this matter in real estate? Because every inch of your home is precious. Old photo boxes take up space, gather dust and risk damage. Digitizing is a way to preserve your memories while reclaiming valuable space at home.

Question 44

How do deposits work when you buy a home in Massachusetts?

Accepted Answer

In Massachusetts, buyers make two deposits when purchasing a home. First is the binder deposit when the offer is accepted, usually $1,000 to $5,000. Then comes the larger deposit at the Purchase and Sale stage, typically around 5% of the purchase price, minus that first binder. Both deposits are held in escrow and show the buyer's commitment. But here's the difference: in many other states, there's usually just one earnest money deposit made at the time of the offer, and that deposit stays in place all the way through to closing. So if you're relocating to Massachusetts, this two-step deposit process might feel unique, but don't worry, it's perfectly normal here.

Question 45

What is the 30/30/3 rule?

Accepted Answer

Here's a breakdown of the 30/30/3 rule in real estate: The first 30: before you buy a house, have 30% of the home's value saved in cash or low-risk assets, for a down payment and unexpected costs. The second 30: your monthly mortgage payment should not exceed 30% of your gross monthly income. So if you make $12,000 a month, your payment shouldn't exceed $3,600. The 3: the price of the home should be no more than three times your annual gross income. So if you earn $500,000 a year, buy a house priced no higher than $1.5 million.

Question 46

How do appraisers measure square footage?

Accepted Answer

Yes, there are guidelines. The American National Standards Institute (ANSI) says appraisers should measure the area within the exterior walls, and only above-grade space counts as living area. Basements, even finished ones, and garages are reported separately. A space also needs a ceiling height of at least seven feet to count as part of an appraiser's valuation.

Question 47

When does the spring real estate market start in Wellesley and Needham?

Accepted Answer

The spring market is supposed to start right after the Super Bowl. In mid-February 2025 I checked whether that was really happening, or whether all the snow was slowing things down. Wellesley had 27 homes on the market, 35% more than a year earlier but 60% fewer than in 2018. Needham, a town about the same size, had 26 listings, 18% more than a year earlier and 35% fewer than in 2018. So the spring market had sprung, and the snow hadn't stopped anyone from listing. It also reminded us of the good old days when there were actually a decent number of houses to sell.

Question 48

Which MetroWest towns have had the most home price growth?

Accepted Answer

I compared the median single-family sale price in 2015 with 2024. Weston and Wayland had the lowest growth, at 57% and 58%. Then Newton at 64%. Dover, Natick, Wellesley and Medfield all landed between 72% and 74%. Sherborn and Westwood were at 76%, and the grand prize winner was our lovely Needham at a whopping 95%. Why Needham? In my opinion it was a combination of Needham becoming a more desirable town and the mix of homes changing to include a ton of higher-priced new construction. Needham had the highest share of new construction of any of these towns, at 18% of single-family sales.

Question 49

Do I need to think about wetlands when buying a home in Wellesley?

Accepted Answer

Yes, and that's true anywhere you buy a home. For a first look, the Town of Wellesley's GIS maps show vernal pools (the little dots), special flood hazard zones from FEMA, wetland buffer zones, riverfront areas and wetlands. At the Natural Resources Commission they joke that GIS stands for “get it surveyed,” so dig deeper if you plan to renovate, expand your lawn, put in a pool, cut down trees or simply get flood insurance. All of those can be affected by your property's status, and I can help you figure it out.

Question 50

Can I buy a home with the furniture included?

Accepted Answer

Yes, absolutely. If it's a cash deal, or the furniture is handled on a separate bill of sale that your lender knows about, you can easily do it. Just make sure you list the items explicitly, maybe even with pictures, so there's no confusion about what's left behind. If you want to bundle it into your purchase contract for the house, you'll need to put a zero value on the furniture so the bank isn't financing the furniture. That said, check with your lender that it's an option. I recently heard a story where a lender wouldn't finance a purchase if any personal property was involved, at any price.

Question 51

Can sellers be present for showings, inspections and house visits?

Accepted Answer

Yes. Legally, sellers aren't required to leave their house while potential buyers are there. But I have to admit, it would be very weird if a seller were present. Here's why. Buyers want to feel comfortable in the house. They want to be able to express their thoughts freely, they don't want misunderstandings, they want to be able to focus, and they want professionalism. For all these reasons, I strongly recommend that sellers not be present for showings, inspections or buyer visits.

Question 52

Can I use gift money to buy a house?

Accepted Answer

Most likely, yes, whether it goes toward your down payment or your closing costs. If you're buying entirely with cash, you can use whatever money you want. If you're buying with a loan, the lender will probably want proof that the gift is not a loan and doesn't need to be repaid. They'll also want to make sure it's coming from someone close to you, like a parent, child, sibling or cousin.

Question 53

What are the snow rules in Wellesley and MetroWest?

Accepted Answer

Many towns require you to clear the snow from the sidewalks next to your property, and the details vary: Newton requires sidewalks to be cleared within 24 hours after the snow stops. Needham requires businesses to clear their sidewalks within five daylight hours. Wellesley says you can't push snow into the street, and some towns say it can't go into the street gutters either. Wellesley also has a word about snow igloos: they're fun for kids, but don't build them too close to the road where the plows pass.

Question 54

How do I deal with mold in my house?

Accepted Answer

You don't want mold in your home. Some people are allergic to it, and it can irritate the eyes, skin, nose, throat and lungs. In some cases, mold can produce toxic substances. How does it get there? Tiny spores float in the air and land on something wet, where they grow. Water is the only culprit! Mold can't grow without moisture, so if you control moisture, you control mold. If the moldy area is less than 10 square feet, you can probably handle it yourself: scrub it off with water and detergent, or if it's a porous material like a rug, just throw it away. If it's larger, consider hiring a professional. If you're cleaning it yourself, wear an N-95 respirator, goggles and gloves.

Question 55

Does Massachusetts have an estate tax?

Accepted Answer

Did you know that 34 states have no estate or inheritance tax, sometimes called a “death tax”? Massachusetts is not one of them. Here's the deal: if your estate is worth $2 million or less, there's no Massachusetts estate tax. If it's worth more, the estate pays tax on the amount over $2 million, at progressive rates from 7.2% to 16%. Your estate includes everything you own: real estate, retirement accounts, investments, cash and more.

Question 56

How can I keep my house cool without air conditioning?

Accepted Answer

The most obvious answer is air conditioning, if you have it. Otherwise, a whole-house fan works really well for airflow. It uses a fraction of the energy of air conditioning. Other, more old-school methods: spend time in the basement, which tends to be cooler, take a cold shower, or use a cold washcloth to keep your body temperature down. And lastly, there's always ice cream! Remember to stay hydrated.

Question 57

What's the best month to list in Wellesley for a fast offer?

Accepted Answer

March. I looked at every Wellesley spring listing and how many got an offer within one week. March was the winner: 62.5% of the homes listed that month had an offer within a week. Will it happen again next year? I don't know. Is it fun to look at the data? Yes, it is.

Question 58

What happens at the final walk-through?

Accepted Answer

Its purpose is to let the buyer make sure the house is in the same condition as when the offer was made, and that any agreed-upon repairs are complete. It's typically done the day of the closing. The buyer and the agents go through the house, often with a checklist: turning on lights, running the hot water, flushing toilets, making sure the appliances work. If the buyer isn't satisfied, they might ask the seller for a holdback of funds, a check written on the spot, the repair work written into the contract, or a delay of the closing altogether.

Question 59

Where does a Massachusetts closing take place?

Accepted Answer

In my experience, nine times out of ten the closing takes place at the buyer's attorney's office. It's also common for it to take place at the Registry of Deeds, where the deed will be recorded. Less common are the lender's office, the title company's office, the real estate office, or even an insurance office. I once had a closing at a AAA office in Rockland! It's typically an office of some sort, because last-minute emails and printing of documents sometimes happen.

Question 60

Does a pool add value to a home in the Boston area?

Accepted Answer

Boston is the only major metro area in the country where a pool actually takes away from a home's value. A Boston-area home with a pool is worth around $15,000 less than the same house without one. My source didn't give a reason, but I suspect it's the short pool season here and the high cost of maintenance.

Question 61

What counts as a bedroom in Wellesley?

Accepted Answer

First, when I list a home, I use the public-record bedroom count to say how many bedrooms there are. For a room to be called a bedroom, it needs a proper entrance and an egress window that meets size and height requirements: a bottom edge no more than 44 inches from the floor, an opening of at least 5.7 square feet, at least 24 inches high and 20 inches wide. There also needs to be a smoke detector and a carbon monoxide detector installed just outside the bedroom. If you meet all of those requirements, you can apply to the Building Department to change the bedroom count on the public record.

Question 62

Are there waterfront homes in Wellesley?

Accepted Answer

Yes, but not many! By my estimate, about 1% of the homes in Wellesley are waterfront, around 81 homes. The main options are on College, Bay View, Bacon, Stonecleve, Shore, Pickerel and Russell, which are on Morses Pond, and Livingston and Winding River, both on the Charles River. Boulevard Road and Ledyard are on a more easterly section of the Charles. Then there's a smattering of homes on small bodies of water like Wights Pond and Longfellow Pond. Lastly, some homes are marked “waterfront” in MLS because a small stream runs near the property, but they don't really have a waterfront view.

Question 63

How many electric vehicles are there in Wellesley?

Accepted Answer

In 2024, 5.5% of the vehicles in Wellesley were fully or partly electric. That's an amazing number, because nationally it was 0.86%. I also spoke with a very nice man from Sustainable Wellesley. They hold EV events a few times a year, where eight or nine dealers bring electric vehicles so Wellesley residents can look at them and even test-drive them. So cool!

Question 64

What's the difference between a refinance and a recast?

Accepted Answer

A refinance means getting a new loan with new terms, which can change your interest rate or your loan length. A recast keeps your existing loan, but lowers your monthly payment after you pay a lump sum toward the principal. Refinancing offers flexibility, while recasting keeps your original loan, with lower monthly payments.

Town		Under $1.5M
Medfield		77%
Natick		73%
Sudbury		70%
Westwood		67%
Wayland		67%
Sherborn		62%
Lincoln		48%
Concord		35%
Needham		33%
Dover		28%
Wellesley		20%
Weston		12%

Town	2015	2024	Growth
Needham	$870,000	$1,700,000	95%
Sherborn	$749,000	$1,315,000	76%
Westwood	$659,000	$1,158,500	76%
Medfield	$671,500	$1,170,000	74%
Wellesley	$1,234,250	$2,138,500	73%
Dover	$978,888	$1,680,000	72%
Natick	$555,000	$956,500	72%
Newton	$1,115,200	$1,830,000	64%
Wayland	$705,000	$1,115,000	58%
Weston	$1,480,000	$2,325,000	57%

Real estateQ&A.