Million Dollar Sales – now vs the peak
Million dollar sales in Essex County continue to pick up and are approaching the levels of 2005/06, but there are some marked variations from town to town, while sales at the highest level continue to lag.
First the overall picture by price range for the whole of Essex County: (more…)
How to keep your home cool without A/C
Most towns in New England contain houses built in the 18th and 19th Centuries. While these houses have great character and charm, they were built long before the days of air-conditioning.
Here are some tips for keeping cool in such houses during the summer. The simplest are: keeping blinds down and windows mostly closed during the day to keep the hot air out, and opening windows at night to let the cool air in. (more…)
Just say no to a lock box
A topic which came up for discussion at this week’s office meeting was the use of lock boxes on properties which are for sale. The subject arose because I have shown three properties recently with lock boxes.
My experience – and that of my buyers – was one of great frustration. Apart from the fact that it always seems to take me 5-10 minutes to open lock boxes, here are my main gripes: (more…)
New Listings as languid as the weather
The number of new listings continues to decline: (more…)
No snow this winter, says El Nino
Well, that’s not exactly what this Washington Post article El Nino intensifying says but it does include the forecast of “a warmer than normal winter over large parts of the U.S.” (more…)
But I thought you only wrote about Marblehead
Last night a friend, who lives in Swampscott, said when I told him I was publishing my Swampscott Mid-Year Housing Review “but I thought you only wrote about Marblehead.”
As I told my friend, I maintain statistics on all 34 Essex County cities and towns. While I publish regularly on Marblehead, Beverly, Salem and Swampscott individually, and Essex County overall, I monitor all towns – and not just in Essex County. I have provided market reports to buyers and sellers from Amesbury to Andover to Revere, as well as for Middlesex County. (more…)
Real estate recovery is global, well except for the Ukraine
As reported by IMF Global Housing Watch global real estate prices increased 2.1% in 2014 to a six-year high. But not every country participated. The first chart shows the overall picture; the second shows the difference between recovering and rebounded markets. (more…)
Marblehead: Birthplace of the American Navy
Read Marblehead Magazine’s Birthplace of the American Navy for the definitive history. (more…)
Why there are so few houses for sale
For the past two years the main story in the housing market has been the lack of inventory, of houses for sale.
But why is that? (more…)
Man-cave? Nah, pub-shed
According to the San Francisco Globe Pub-sheds are a growing trend. The article has some examples of how the space can be used once the tools and junk are cleared out.
I do have one concern: outdoors sheds may be great for San Francisco, but I am not sure about trekking to and sitting in one during a New England blizzard.
Source: www.readersheds.co.uk
Bruce Willis’s $8 million price cut – and no Demi Moore
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.
Source: American Luxury
Housing market: 7 reasons for optimism
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…)
What the blue blazes does this mean?
A long time ago – make that a very long time ago – I had a German master at school whose favourite expression was “what the blue blazes do you think you are doing, boy?”, at some impropriety.
Well, in a different field, I read the following comment on the housing market. My question is: “what the blue blazes are you saying about the housing market” Because I have no idea. (more…)
Even CNBC doesn’t understand the bond market
Bond market lesson 1: when prices go up (generally considered a good thing by investors) the yield goes down. (more…)
Mortgage rates “will reach 4.5% by year end”
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…)
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