Possible duplicate emails
I am in the process of changing email marketing providers – at least, I think I am – after problems last week. There may be a duplication of providers for a short time which may mean you get two emails from me.
I do apologise and sincerely hope – for your sake and mine – that this will be resolved in the very near future.
Thank you
Andrew
Open Houses Sunday August 1
This is the updated list of today’s Open Houses:
Click on these links for details: (more…)
7 Winning Tips for Buyers
The only one of these I don’t recommend is number 4 – waiving contingencies other than in certain, limited circumstances.
New Listings week ending July 30
Here are the latest New Listings:
Click on these links for details: (more…)
Open Houses weekend July 31/August 1
Here are the Open Houses this weekend. Because of the quirks of MLS properties with OH’s both days so 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…)
Which is Massachusetts’ most expensive County
7 Counties have a median price lower than the median for the State while 6 clock in above that level – which was $525,000 in the first half of 2021, up 20% from H1 2020 and 28 % from 2018.
Open Houses weekend July 24/25
Here are the Open Houses this weekend. Because of the quirks of MLS properties with OH’s both days so 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 week ending July 23
Here are the latest New Listings:
Click on these links for details: (more…)
Mortgage refinancing just got cheaper
The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries effective August 1, 2021.
Lenders will no longer be required to pay Fannie and Freddie a 50-basis point fee when they deliver refinanced mortgages. The fee was designed to cover losses projected as a result of the COVID-19 pandemic. “The success of FHFA and Fannie and Freddie’s COVID-19 policies reduced the impact of the pandemic and were effective enough to warrant an early conclusion of the Adverse Market Refinance Fee.” FHFA’s expectation is that those lenders who were charging borrowers the fee will pass cost savings back to borrowers.
“Santa Claus has come early for homeowners looking to refinance their mortgages,” said Greg McBride, chief financial analyst for Bankrate.com. “The fee had often resulted in an increase of one-eighth percentage point in rate.” (more…)
Beverly Mid-Year 2021 Market Report
The median price of Single Family Homes (SFH) sold in the first half of 2021 (H1 2021) increased 15.4% from $546,000 to $630,000 breaking $600,000 for the first time. Sales of 124 were in line with the 5-year average of 122.
81% of SFHs and 65% of condos sold above list price in H1 2021. 34% of SFHs sold at 110% or more of list price (vs 4% in H1 2020) but only 8% of condos.. (more…)
Salem Mid-Year 2021 Market Report
The median price of Single Family Homes (SFH) sold in the first half of 2021 (H1 2021) rose12.9% from $472,850 to $534,000, confirming the breakout above $500,000 in H2 2020.
Sales dropped from 93 to 80 – the lowest figure since 2014 – with all the reduction in Q1.
80% of SFHs sold above list price in H1 2021, with 45% of sales (vs 8% in H1 2020) at 110% or more of list. (against 3% in H1 2020).. (more…)
Essex County Mid-Year 2021 Market Report
The real estate market in Essex County continued to boom in the first half 2021 (H1 2021), with multiple offers the norm for most properties. The COVID-inspired slowdown in the second quarter of 2020 impacted sales – which were delayed – rather than prices. Thus, while Year- on- Year (YOY) increases in sales are from an artificially low base, the increase in median prices is real.
The median SFH price in H1 2021 broke through $600,000, just a year after reaching $500,000 for the first time.
In H1 2021 only 5 of the 34 cities and towns – Amesbury, Lynn, Methuen, Haverhill and Lawrence – had a median SFH price under $500,000, while 16 had median prices above $750,000. Every town except Middleton saw double digit increases YOY, while Marblehead was the only town where the H1 2021 median SFH price was lower than in H1 2020.
The median condo price increased more modestly, increasing by “only” 12.1% YOY to $379,000.
(more…)
Marblehead Mid-Year Market Report
The median price of the Single Family Homes (SFH) sold in the first half of 2021 (H1 2021) jumped 19.4% from the COVID-influenced $678,500 in H1 2020 to $810,000, although this was lower than the $839,900 in H2 2020. Sales of 104 units increased from 93 in 2020 and compared with the 5-year average of 96.
The share of SFHs selling above list price increased from 23% in H1 2020 in 62% in 2021, with 25% of sales at 110% or more of list – against none in H1 2020.
Sales over $1 million doubled from 18 in H1 2020 to 35 in H1 2021. While there were only 2 sales over $2 million in H1 2020, there were 7 in H1 2021, including 2 at $4 million and 2 at $5 million. (more…)
Swampscott Mid-Year Market Report
The median price of Single Family Homes (SFH) sold in the first half of 2021 (H1 2021) increased 16.5% from $592,500 to $690,000, while sales increased from 59 to 68, exactly in line with the 5-year pre-COVID average.
Following 2 SFH sales over $2 million in H2 2020, there were 3 such sales in H1 2021. 3 out of 4 SFH sales took place over list price, with 28% of all sales (compared with 11% in H1 2020) at 110% or more of list. (more…)
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