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Today’s Open Houses

August 30, 2015 · by Andrew Oliver · in Market Reports

A beautiful day coming up on the North Shore. Make time to look in at today’s Open Houses: (more…)

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Boston condos still selling over list price

August 30, 2015 · by Andrew Oliver · in Boston housing market, Market Reports

According to the Boston Business Journal Greater Boston condos sold over list price for the fourth consecutive month in July. (more…)

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Marblehead’s first pub-shed?

August 29, 2015 · by Andrew Oliver · in Marblehead News, Market Reports

I think I may have found the perfect location for Marblehead’s first pub-shed (see Man-cave? Nah, pub-shed).

Fellow Harborside SIR agent Brian Skidmore has just reduced the price of this 400 sf house by $40,000 to only $229,000. Brian says:”Great location, walk to parks, downtown, movie theater (10 minute walk!), restaurants, and more.

While it is a very small house, I am intrigued by the prospect of a buyer converting the 9′ x 8′ garden shed into Marblehead’s first pub-shed. (more…)

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The week’s new listings

August 29, 2015 · by Andrew Oliver · in Market Reports

As we head into the last week before Labor Day we continue to see a modest number of new listings: (more…)

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Can Dukakis and Weld bring the North Shore respect?

August 23, 2015 · by Andrew Oliver · in Boston housing market, Essex County Housing News, Latest News, Market Reports

I get fed up reading articles about real estate in Eastern Massachusetts which routinely ignore the North Shore and Essex County, so I was intrigued to read Build the North-South rail link in this week’s Boston Globe, a coherent and logical argument in favor of connecting Boston’s North and South stations by rail. (more…)

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Today’s Open House list

August 23, 2015 · by Andrew Oliver · in Market Reports

Today is not a beach day so check out these Open Houses (and read Why mortgage rates are falling): (more…)

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New listings this week

August 22, 2015 · by Andrew Oliver · in Market Reports

The slow pace of new listings continues, but this weekend’s rainy weather gives buyers a good opportunity to get out and visit Open Houses, a list of which I shall publish as usual tomorrow morning: (more…)

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Lock box turns me into James Bond

August 22, 2015 · by Andrew Oliver · in Latest News, Market Reports

A couple of weeks ago I published Just say no to a lock box.

This week I had several experiences with lock boxes, all of which confirmed and reinforced my previous comments and advice to sellers – do not agree to having a lock box installed!

This week’s misadventures included:
– dealing with the alarm company after I took too long to find the code in the emailed instructions
– walking into a house which had no lights on and having my buyers say “it’s so dark it feels like the middle of the night”
– having to call a listing office to get instructions (not provided to me in advance) on how to open the lock box (see below)
– being expected to provide a written response to a questionnaire after the showing so that the listing agent could send it to the seller
– trying to reach the listing agent while at the house to ask questions which she would have been able to answer had she been present

How I became James Bond

AO_Photo_Hi_Def

James Bond (more…)

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Why interest rates and mortgage rates are falling

August 22, 2015 · by Andrew Oliver · in Market Reports, Mortgage and Finance News

Two weeks ago in Mortgage rates dip below 4% – again I wrote this in answer to the question about the impact on mortgage rates when the Fed does increase rates: The Fed’s move will affect short-term interest rates. As the Wall Street Journal stated this week:”Rates for fixed-rate, 30-year-mortgage loans key off the 10-year Treasury yield. So, with most observers predicting 10-year yields will remain fairly stable as the Fed begins to tighten, people with relatively good credit standing should continue to see loan rates near 4% or only a little higher.”

My point, that even if the Fed does raise rates in September – which seems less likely after the setback in world stock markets this week – the impact on mortgage rates will be limited, was reinforced by this Why are Bond Yields falling if the Fed is going to raise interest rates? Charles Schwab article. (more…)

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Top 10 home wish-list items

August 16, 2015 · by Andrew Oliver · in Market Reports

This Boston Globe article reviews home features that were the rage in past decades and the top 10 wish-list items today.

1950s: Dens

Source: Christian Montone

Source: Christian Montone

(more…)

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Today’s Open Houses

August 16, 2015 · by Andrew Oliver · in Market Reports

The most notable aspect of this list is the relatively high number of SFHs in Swampscott – a market which has experienced very limited inventory this year – where today’s Open Houses range in price from $330,000 to $1.7 million. (more…)

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Lynn Mid-Year 2015 Housing Market Review

August 16, 2015 · by Andrew Oliver · in Essex County Housing News, Lynn Housing Market, Market Reports

The first half of the year in Lynn saw a 6% increase in the median price of a Single Family Home (SFH), steady sales and a shortage of inventory.

Median Prices
The median price for the first half of 2015 was $269,000, up 6% from $249,900 in 2014, but still 10% below the 2005 peak of $293,000:

Source: MLS, Oliver Reports

Source: MLS, Oliver Reports

In Essex County overall, the median SFH price in the first half of 2015 was $385,000, less than 2% below the 2005 peak of $390,000. (more…)

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New listings remain subdued

August 15, 2015 · by Andrew Oliver · in Market Reports

Another quite week for new listings and, disappointingly, still no private islands: (more…)

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Essex County Mid-Year Housing Review

August 15, 2015 · by Andrew Oliver · in Essex County Housing News, Market Reports, Massachusetts Housing News

In the first half of 2015 the median price of a Single Family Home (SFH) increased slightly, while sales were basically flat, despite the low inventory. Distressed sales – foreclosures and short sales – were steady year on year, but are way down from the levels of 2010-2012.

Median Prices
The median price for the first half of 2015 was $385,000, up from $380,000 in 2014, and close to the 2005 peak of $390,000..

Source: MLS, Oliver Reports

Source: MLS, Oliver Reports

(more…)

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This castle is “Britain’s most romantic property”

August 13, 2015 · by Andrew Oliver · in Market Reports

It has been described as England’s most romantic home thanks to its heart-shaped lake, believed to have been built by a former owner for his fiancée. (more…)

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