Mortgages: another last chance to lock in low rates?
A funny thing happened on the inevitable path to higher mortgage rates: they went down again, back close to the lows for the year. Bear in mind that a year ago the 30 year rate was 4.40%. (more…)
Why we don’t all move to San Francisco
After this winter we’re all planning to move to a warmer climate right? Like San Francisco.
But no, we will stay here, at least most of us will. Buy why? (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…)
Which broker should sell my house?
You’ve decided to sell your house. The big question is: which broker should you hire to sell it? And how do you make that decision? (more…)
$30 million to repair potholes
Both my Republican and Democrat friends think Charlie Baker is off to a good start as Governor. And it’s not just because there are no stories about the money spent on new curtains for his office.
Today the Baker Administration announced a $30 million WRAP (Winter Recovery Assistance Program) to patch up potholes and other repairs. (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…)
Where do the ultra rich live?
This Sotheby’s International Realty Top cities for the ultra rich report looked at the property (ies) owned by ultra high net worth individuals, defined as those with a net worth of at least $30 million. (more…)
Still time to buy that $37.5 million Boston condo
70% of the condos in the 60-storey Millennium Tower building at Downtown Crossing have been sold, according to this Millennium condos mostly sold to local buyers Boston Globe article, with 3/4 of sales going to local buyers.
In case you fear you have missed out, worry not: the $37.5 million, 12,000 sf penthouse is still available. Call me for a showing and if you buy through me I will donate half my commission to Lifebridge, the homeless organization based in Salem. (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…)
Last appeal of new Salem Power Plant withdrawn
Opponents of the new natural gas power plant have withdrawn their last appeal “putting an end to three years of legal objections to the project”, according to this Salem News article.
The new plant is scheduled to come online by June 2017, while the second phase of demolition at the old coal plant will take place this spring together with further site remediation. (more…)
How much does parking add to the value of a home?
I often wonder how long our memories are. In mid-winter it seems to me the entire population of New England is thinking of moving to Florida, but I suspect that come next winter we will not find deserted cities.Don’t we just love having something to complain about?
After a winter like this one everybody wants to have a home with parking – in cities – or with a garage in the suburbs and outer towns. But how much is that convenience worth?
Here’s a Boston Herald article which describes the value of parking in Boston’s neighborhoods. (more…)
Baghdad could have been a Frank Lloyd Wright mega- City
Spurred on by an influx of oil money and the temptation of a looming Olympic bid, in the 1950s, King Faisal II enlisted a coterie of architectural heavyweights—Frank Lloyd Wright, Walter Gropius, Le Corbusier, Josep Lluís Sert, and Alvar and Aino Aalto—to reimagine Baghdad as a bustling, cosmopolitan city.
I came across this fascinating article on curbed.com. The King was assassinated in 1958 and the plans died with the young king. As explained by Robert Twombly, “the people needed food, clothing and shelter more than floating gardens, gold fountains, and a mammoth zoo.”
No doubt Iraqis felt the same way about Saddam Hussein’s palaces. (more…)
How much business has been lost to the weather?
Anecdotally, we know that small businesses have been affected by this winter’s weather but now we know by how much following a survey by the Retailers Association of Massachusetts.
The main points are:
– overall sales fell 24% with a 7% drop in payroll
– restaurant sales fell 49% with a 14% drop in payroll
While it is tempting to buy everything from Amazon when the weather outside is foul, when the weather improves we should all make a point to SHOP LOCALLY! (more…)
Essex County Housing Inventory by town
Here is a town by town breakdown of inventory compared with a year ago.
Source: MLS, Oliver Reports
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…)
Recent Comments