Mass Real Estate Blog

Trend Data

Toni — Fri, 08 Dec 2006 06:44:40 +0000

I will be reseaching and posting the MLS Trend Data every now and then and posting the results to this site. Below, is a chart of the past trend data that I have pulled off the system. Please keep in mind that each reading is a look back for the past 3 months and specifically identifies the rolling averages in the City of Lowell over the specific range of time shown.

Trend Data	Past 3 Mos


Date	Current	Type	Avg List $	Avg Sold $	$ Price Change	Avg DOM	Chng Frm	Solds
	Actives						last read
9/7/2006	311	S/F	280510	272600	-8000	115.34
	307	CC	200923	196639	-4000	91.15
	231	MF	332535	321246	-11000	83.92

10/3/2006	320	S/F	273975	264802	-9173	112.81	Down	112
	315	CC	203009	198365	-4644	97.28	Down	129
	244	MF	334965	323159	-11806	93.22	Down	37

10/16/2006	323	S/F	271458	262700	-8758	111.3	Up	107
	388	CC	203103	199042	-4061	102.63	Up	116
	241	MF	328274	317177	-11097	83.36	Up	39

10/27/2006	334	S/F	272396	265933	-6463	107.89	Up	109
	341	CC	200046	196218	-3828	108.47	Up	120
	232	MF	320751	309939	-10812	82.37	Up	41

11/18/2006	308	S/F	270875	264190	-6685	101.6	Down	96
	324	CC	199054	195540	-3514	112.74	Up	109
	221	MF	319927	346756	26829	76.98	Up	48

12/5/2006	266	S/F	272264	264945	-7319	102.46	Down	99
	313	CC	200699	196909	-3790	112.28	Down	92
	214	MF	318162	347816	29654	74.4	Up	45

Full Time vs Part Time Agents

Toni — Tue, 21 Nov 2006 01:58:21 +0000

Hi – all!

Yes, it’s been a while since my last post, and I do apologize.

This post is about full time vs part time agents, and clients who have mentioned a lack of service. It is true that all real estate agents are not full-time agents. It is also true that part-time agents cannot always provide timely and/or exceptional service to their clients. Further, many agents who either do this or cover for them don’t realize that this lack of service reflects on all agents – especially if the client is not aware that their agent has a full-time job somewhere else. I have been told, by a few people, that their agent is not responsive, doesn’t listen, is not available for showings, and doesn’t always call them back, etc. And, sometimes I find that these agents do, in fact, have other jobs. This, of course, affects both buyers and the potential property they wish to buy and sellers who have already listed with that agent. My point is this – if you are thinking of either buying or selling a home, and you want full-time service, then make sure you hire a full-time agent. Good Luck!

MA Residents – TAX ALERT!!!

Toni — Wed, 31 May 2006 16:59:04 +0000

This is a re-print from an e-mail received from the Massachusetts Association of REALTORS. Although it's directed to REALTORS, the residents and taxpayers of Massachusetts need to know as well. Please read and then contact your Senator. Please urge your Senator to VOTE NO ON SENATE BILLS 2230 and 2555. You can find your Senator's contact info at http://www.mass.gov/legis/memmenus.htm. – Thank you!

Reprint:

TRANSFER TAX ALERT!

During the last week, a Committee within the State Senate has moved forward with two bills (S. 2230 & S.2555) that would authorize two local communities (Martha’s Vineyard and Nantucket) to implement NEW 1% real estate transfer taxes on home and property sales.

Transfer taxes are a sales tax on people’s home and land and, with the exception of the land banks on the above-referenced islands, there are currently NO local transfer taxes allowed in any community in Massachusetts. Passage of these bills would change that and create a bad precedent throughout the state. These two bills are currently in the Senate Ethics and Rules Committee but could move to the Senate floor for a vote as early as June 1st.

Specifically, these bills would put a 1% sales tax on all real property transfers, with the funding to be used for affordable housing. While the bills do contain a high dollar threshold before the new tax is required to be paid, your REALTOR® Association believes that ANY new sales tax on people’s homes is a step in the wrong direction for our legislature and the Commonwealth of Massachusetts.

WE URGE EVERY REALTOR® WHO SHARES THEIR ASSOCIATION’S CONCERN ABOUT CREATING A NEW TAX ON HOME OWNERSHIP TO CALL THEIR STATE SENATOR’S OFFICE TODAY AND RESPECTFULLY LET THEM KNOW THAT:

1) You are a constituent of the Senator. Clearly state your name and town of residence. Your State Senator is Steven Panagiotakos. Your Senator's State House phone number is (617) 722-1630.

2) Urge your Senator to vote NO on Senate Bills number 2230 and 2555.

3) As a REALTOR®, you support housing opportunities but OPPOSE the creation of a new 1% sales tax on homes in any community because it is bad tax policy and is the wrong precedent to set for home ownership in Massachusetts.

4) Thank them for their time and attention to this matter.

Thank you for your support,

David Wluka Robert Authier
MAR President MAR CEO

National Stats:

Toni — Fri, 24 Mar 2006 04:30:59 +0000

NAR: Existing-Home Sales Rebound in February

(March 23, 2006) — Existing-home rose in February following five months of decline, indicating that the market is stabilizing, according to the NATIONAL ASSOCIATION OF REALTORS®.Total existing-home sales — including single-family, town homes, condominiums and co-ops — increased 5.2 percent to a seasonally adjusted annual rate of 6.91 million units in February from an upwardly revised pace of 6.57 million in January, but were 0.3 percent below a 6.93 million-unit level in February 2005.

David Lereah, NAR’s chief economist, says mild weather appears to be responsible for some of the gain.

“Weather conditions across much of the country were unseasonably mild in January and likely were a factor in higher levels of buyer activity, which boosted sales that closed in February,” he says. “Higher interest rates had been tapping the breaks, notably in higher-cost housing markets since mortgage interest rates trended up last fall, but we’re seeing signs of stabilization in the market now with the sales rebound. Home sales should level-out in the months ahead.”

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 6.25 percent in February, up from 6.15 percent in January; the rate was 5.63 percent in February 2005.

NAR President Thomas M. Stevens from Vienna, Va., says comparisons with market performance over the last five years distort what people should expect from housing as an investment.

“Housing is simply returning to a normal market, where annual home prices will rise a little faster than the overall rate of inflation,” says Stevens, senior vice president of NRT Inc. “However, in looking at total returns, you need to consider that the typical buyer is making only a modest downpayment but enjoys a return on the full value of the home, which is many times the actual cash investment. In other words, normal is pretty good for the typical home owner, and that’s what we expect for the foreseeable future.”

Stevens noted that price appreciation has yet to cool significantly. “We’re still seeing double-digit annual price gains, but we should get down to single-digit appreciation fairly soon,” he says.

The national median existing-home price for all housing types was $209,000 in February, up 10.6 percent from February 2005 when the median was $189,000. The median is a typical market price where half of the homes sold for more and half sold for less.

Total housing inventory levels rose 5.2 percent at the end of February to 3.03 million existing homes available for sale, which represents a 5.3-month supply at the current sales pace – the same as in January.

Single-family home sales increased 4.7 percent to a seasonally adjusted annual rate of 6.06 million in February from 5.79 million in January, and were 0.2 percent below the 6.07 million-unit pace in February 2005. The median existing single-family home price was $208,500 in February, up 11.6 percent from a year ago.

Existing condominium and cooperative housing sales rose 8.8 percent to a seasonally adjusted annual rate of 850,000 units in February from a level of 781,000 in January. Last month’s sales pace was 1.5 percent below the 863,000-unit pace a year ago. The median existing condo price was $214,300 in February, up 3.5 percent from February 2005.

Regionally, existing-home sales in the Northeast jumped 19.2 percent to an annual sales rate of 1.18 million units in February, and were 2.6 percent higher than February 2005. The median price in the Northeast was $263,000, which is 5.2 percent higher than a year ago.
Total existing-home sales in the Midwest rose 11.1 percent to a pace of 1.60 million in February, and were 1.9 percent above a year earlier. The median existing-home price in the Midwest was $160,000, up 3.9 percent from February 2005.

In the West, existing-home sales increased 5.1 percent to an annual pace of 1.44 million in February, but were 10.6 percent below February 2005. The median price in the West was $306,000, up 12.1 percent from a year ago.

Existing-home sales in the South fell 2.5 percent in February to a level of 2.69 million, but were 3.1 percent higher than a year ago. The median price in the South was $182,000, up 11.7 percent from February 2005.

Article provided by the National Association of REALTORS — NAR

The REMAX Return on Reno… vations that is!

Toni — Sun, 05 Feb 2006 03:47:10 +0000

An FYI: Many home owners ask themselves - what is the best renovation I can do, which improvement will increase my home’s value the most? Well, according to the latest published results, as published on www.REMAX-NewEngland.com, there are six Smartest Renovations that you do to improve your home’s value. Although this is just a Guide and the suggestions should be incorporated into your region and neighborhood, this is a sensible guide to point homeowners in the right direction. The six Smartes Renovations are: Landscaping; Kitchens; Fireplaces; Paint; Bathrooms; and Floors. Happy Renovating!

Punxatawney Phil!

Toni — Thu, 02 Feb 2006 22:20:03 +0000

Well, ok, it’s official…. the fat little rodent, oh, excuse me, cute furry creature, saw his shadow.. Oh well, six more weeks of winter. BUT, that means, you have six whole weeks to get yourself pre-approved and start shopping for your new home before the Official Spring Market is Here!!!

Prices are stable, and in many cases below previous market valuations. And, a few owners have expressed their opinions (to me) regarding their future listing at a higher price in the spring. So, if you are waiting to get into the market, please consider these current conditions. Stable prices, and low interest rates! You can’t get much better than that…

Census Data

Toni — Thu, 02 Feb 2006 21:17:06 +0000

Hello – Just an FYI – You can view all Mass Census Data by clicking the link on the menu.

Hello world!

Toni — Thu, 02 Feb 2006 07:36:40 +0000

Welcome to the Mass Real Estate Blog. This is a site where you can post your thoughts and opinions regarding real estate in the state of Massachusetts. I invite you all to begin using this site – from real estate professionals, to first time home-buyers, sellers, tenants, or investors – to discuss issues that will either affect you or the future real estate industry in Massachusetts. Thank you for your visit – let’s start blogging!