A couple of weeks ago I posted John Kerry or a 6 car heated garage? comparing two nearby Beacon Hill properties: one had a 6 car heated indoor motor court, the other no garage but John Kerry as a neighbor.
Which would attract a buyer first?
Well the verdict is in and the winner is….John Kerry.
“Who did you say is my new neighbor?”
Well we know the Russians have been buying up real estate in major cities, but I just can’t imagine Vl-d-m-r P-t-n hoping to become best buds while strolling round the square. (more…)
As we head into July 4th, the date which traditionally sees a slow down in sales and some price cuts to try to sell houses that have been on the market for a while, Bruce Willis’s Idaho ski resort has a slightly larger than normal cut: from an original $15 million to a bargain at only $7.05 million.
Salem is a hot city with lots of good things happening there, especially for young people who are buying condos. So far this year the median condo price has increased by more than 10%. This trend has naturally attracted developers and others resulting in a sharp increase in the supply of condos for sale in the last couple or months, as shown in this chart (1 – Jan 1, 2 = Feb 1, etc, 7 = Jun 27): (more…)
After many months when Marblehead’s housing inventory was running sharply below that of a year ago, the position has improved in the last few weeks – at least for buyers. Here are tables showing the month by month totals, and the current inventory by price, for Single Family Homes (SFH): (more…)
MarketWatch.com published Housing market can’t lose this week.The main reasons for optimism are: Prices: rising but at a moderate rate Equity: as prices rise so more homeowners have equity in their homes – now up to 90% of all mortgaged properties First-time homebuyers: loans to first-time homebuyers are now the highest in 22 years of surveys from the American Bankers Association Foreclosures: the number of loans in foreclosure is the lowest since 2007. Construction: both starts and permits are showing strong momentum
Supply: nationally 4.8 months, below the 6 months considered to reflect a market in equilibrium between and sellers. Listings are 15% lower than a year ago. Family net worth: has reached a new record. (more…)
In a report this week the Mortgage Bankers Association stated: “Our forecast has mortgage rates increasing to about 4.5% by the end of 2015, and rising further next year.” Click here to read the full forecast.
Mortgage rates do fluctuate and vary from lender to lender. For example, despite the headlines, it was possible to find quotes at the end of this week for 30 year jumbo mortgages under 4%, while both 15 year FRMs and 5/1 ARMs were available at 3 1/8%. (more…)