Marblehead housing inventory: even worse than you think
There are currently just 49 Single Family Homes (SFH) for sale in Marblehead, compared with 90 a year ago at this time. But the position for buyers is even worse than it appears. (more…)
Don’t believe real estate headlines
Information overload. “News” is so freely available online that it is hard to know what to believe and what not to believe.
Take real estate-related headlines. (more…)
Trulia vs MLS statistics on Marblehead
I have reported before on my puzzlement as to where Trulia gets its statistics on Marblehead. This is what I received by email today: (more…)
What does $4 million buy in and around Boston?
A prospective buyer looked at a $4 million listing in Marblehead recently and commented: “this house would sell for $18 million in the Hamptons.”
Well we’re not in the Hamptons, Dorothy, but it was an interesting comment and led me to look at what a paltry $4 million would buy today in different areas in and around Boston. The table below is in four sections: the North Shore, towns close to Boston, and then Boston SFHS and Boston condos: (more…)
We’re off: more listings, Open Houses
As expected, we have seen a decent number of new listings this week. We even have the promise of 60 degrees and sunshine on Sunday.
So make plans to visit these Open Houses:
(more…)
Marblehead First Quarter Housing Market
It’s over. We survived. Hallelujah!
So how was the housing market in Marblehead? First Single family Homes (SFHs):
Source: MLS, Oliver Reports
Wait a minute. The median price dropped almost $50,000? What’s going on? (more…)
Which matters more – home sales numbers or price?
No, no, it’s not a trick question.
I am also intrigued when I hear or read of a report on commentary about the real estate market which leads with sales numbers. I suspect – usually correctly – that such a report comes from a Realtors’ association. I mean, how many houses does the average home buyer buy or sell in a month, or a quarter, or a year. Quite. (more…)
Seasonal ideas for saving energy
Here are some Seasonal energy tips from Mass Save.
Note that whatever the calendar may say this article starts with winter. (more…)
Will snow removal costs increase my property taxes?
What happens when snow removal costs exceed budget? Who pays? When?
Source: National Weather Service
In simple terms, any snow removal costs beyond those budgeted for the current year have to be approved locally, and then the excess costs, net of any reimbursements, are added to the expenses in the following year’s budget. (more…)
Housing inventory: how low can it go?
A recent Boston Globe article Snow delays spring market highlighted the lack of inventory in the, you know, “important” markets such as Cambridge and Somerville.
We know inventory is down from last year, when if you remember we had the polar vortex, but where do we stand, here in Essex County and indeed throughout Massachusetts, compared with the last several years? (more…)
Essex County Housing Inventory at low levels
Low inventory has, rightly, been cited as a factor frustrating many would-be home buyers. But how low is inventory currently?
Here is the answer, comparing today’s supply with that a year ago, for Essex County, first for Single Family Homes (SFHs). To put these numbers into perspective, the total represents just over two months of sales based upon the last year. A market with six months of supply is generally regarded as one being in equilibrium between buyers and sellers.
Sales are, of course, lower in winter, but nevertheless these numbers suggest a severe shortage of homes for sale as we move towards spring. (more…)
Why home prices will go up in 2015
I have been asked more than once recently when the supply of homes for sale will increase and return to more normal levels.
My answer is that the improving economy, increased job security and higher incomes, unexpectedly low mortgage rates, and the realisation that real estate has not appreciated as much as other asset classes all combine to create a market with more buyers than sellers.
And we know what happens when demand exceeds supply – prices go up. And higher prices are what I think it will take to get more inventory onto the market.
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
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The snow may disappear sooner than you think
On this morning of extreme cold, when we may fear that this winter will never end, there is good news from Boston.com’s excellent meteorologist David Epstein (@growingwisdom) in this When will we see bare ground? article. (more…)
The best and worst performing real estate markets
I have read a number of articles recently about the best and worst real estate markets but none of them mentioned Essex County. This article corrects that oversight.
The first table follows the pattern of many articles in looking at the extent of the recovery since 2009: (more…)
How do I know if I have an ice dam?
In recent weeks we have all learned to toss the phrase “ice dam” into our conversation with friends and neighbors, but what exactly is an ice dam, how do we tell if we have one, and what should be do about them?
Here’s an Ice dam guide from today’s Boston Globe.
The most popular tip may be number 7. (more…)
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