Latest New Listings and Inventory Update
Here are the latest New Listings (the state of inventory is shown later in this article). Note the post-Halloween surge in Salem:
Click these links for details: (more…)
How accurate are Zillow’s Zestimates?
During the pandemic-spurred housing boom, Zillow Offers emerged as a particularly aggressive iBuyer, or instant buyer, of homes in Sun Belt markets, offering homeowners more than the market value of their properties, with no catch. Zillow has now conceded that it has been paying too much for properties, even in a market characterized by soaring home values. Saying it had lost $1 billion on iBuying, Zillow has shut down its Zillow Offers unit.
“We’ve determined the unpredictability in forecasting home prices far exceeds what we anticipated and continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility,” Chief Executive Rich Barton said.
Zillow used an algorithm to make home price estimates, called the “Zestimate,” and determine what it would pay home sellers.
Are Zestimates accurate?
Zestimates are somewhat like the National Hurricane Center’s projection for a hurricane’s path: both provide a single price or point, but those prices and points are actually the median of a range.
Here’s an example for a house: (more…)
Support the Fort (Sewall)
Preserving Fort Sewall – A Centennial Campaign Established in 1644, Marblehead’s Fort Sewall is one of the oldest English coastal fortifications in the United States, and is the second most visited spot in town according to surveys, with over 50,000 annual visits by residents and visitors. Known for many years as the Marblehead Fort or the Fort on Gale’s Head, it was renamed in 1800 to honor Marblehead’s Samuel Sewall, Massachusetts Supreme Judicial Court’s Chief Justice.
The Fort’s greatest historical moment was probably Sunday April 3, 1814 when the U.S.S. Constitution, being chased by two British frigates, escaped into Marblehead Harbor under the protection of the fort’s guns. Two Marblehead crewmen piloted the Constitution between Marblehead Rock and Marblehead Neck – thus escaping the British warships that lacked charts for the harbor’s underwater rock outcroppings. (more…)
Mid-week New Listings and Inventory Update
Here are the latest New Listings (a link to my report on the current state of inventory is shown later in this article):
Click these links for details: (more…)
Latest Housing Inventory
After increasing somewhat – albeit from a very low base – during 2021, the seasonal drop-off in late October has been just as sharp as in prior years – and again this is a reduction from a low level.
Single Family Homes
The November 1st SFH inventory number of 370 was a decline of 27% from 2020 and 65% compared with 2019:
Inventory now has less than 1 months’ supply overall and is only over 1 month – but still far below the 6 months deemed to reflect a market in equilibrium – at prices over $1.5 million.
Condos (more…)
Marblehead architect’s ‘Walking Man’ survives nor’easter
Architect Tom Saltsman endured battering winds and rain during the recent Nor’easter to protect and secure his latest Halloween installation outside his home at 32 Pleasant Street. “The Walking Man” is an 18-foot-tall ghost of an elderly, skeletal man, captured in a moment of motion and representing a year of loss.
“The Walking Man” is notably different from Saltsman’s more whimsical creations over the years. “This is about self-reflection for our family, and the people we’ve lost over the past year,” he said.
A town tradition (more…)
Halloween Open Houses
Here is the updated list of today’s Open Houses:
Click on these links for details: (more…)
Latest New Listings and Inventory Update
Here are the latest New Listings (the state of inventory is shown later in this article):
Click these links for details: (more…)
Open Houses Halloween weekend
Here are the Open Houses this weekend. Because of the quirks of MLS properties with OH’s both days do not show up in both days’ lists but do if you click on the individual properties. I will publish the updated list for Sunday tomorrow at 8 a.m.
Click on these links for details: (more…)
New Listings and latest Inventory Report
Here are the latest New Listings (the state of inventory is shown later in this article):
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Click these links for details: (more…)
Real estate averages and the Red Sox
I gave a presentation recently explaining why I do not use average prices in real estate.
In the ALCS Championship series against the Astros the Red Sox scored a total of 28 runs or an average of 5.6 per game. But averages don’t work in baseball either and the results were:
But if we could average those 28 runs over 6 games it would be 5.6 per game. So let’s give the Sox 4 games with 6 runs and 2 with 4. Then we could have produced these results: (more…)
Naples Q3 2021 Market Reports
Here are links to my Fall Market reports:
North Naples Fall Market Report
South Naples Fall Market Report
East Naples Fall Market Reports
Central Naples Fall Market Report
Naples Beach Fall Market Report
Audubon Fall Market Report
Sterling Oaks Fall Market Report
Bay Forest Fall Market Report
Pelican Bay Fall Market Report
Imperial Golf Estates Fall Market Report
Naples zip code map (more…)
Open Houses Sunday October 24
Here is the updated list of today’s Open Houses (with links to Q3 market reports for Marblehead, Swampscott and Salem):
Click on these links for details: (more…)
New Listings and Inventory Update
Here are the latest New Listings (the state of inventory is shown later in this article):
Click these links for details: (more…)
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