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…)
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…)
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…)
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
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.”
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…)
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.
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..