Falling oil prices should be good for real estate markets

This Economist article Why the oil price is falling explains the background to falling oil prices which should, in general, be good for the US economy next year and by extension good for the real estate market which, having largely recovered from the Great Recession, is now more dependent upon economic growth for continued gains.

The table below shows forecasts from IHS Global Insight for the US economy in 2015 at different average oil prices: (more…)

Housing market in “early stages of recovery”

Two public house-building companies released strongly optimistic comments about the future of the housing market this week. (more…)

US energy boom may be long-term positive for real estate

Growing US competitive advantage
This Financial Times article Cheap energy is the new cheap labour highlights the growing competitive advantage of the US over Europe as a result of the shale boom (the US is forecast to become the world’s largest oil producer in 2015.)

Oil price slump hurts country budgets
OPEC decided this week not to cut production as a way of trying to halt the slump in oil prices, down some 30% in recent months to about $70 per barrel. (more…)

Where are America’s most expensive zipcodes?

Read thisForbes article to find out.

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 [email protected].

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

The Chinese are coming, the Chinese are coming

According to Bloomberg Business Week the LA suburb of Arcadia is enjoying a boom in home prices fuelled by Chinese buying.

“For buyers from mainland China, Arcadia offers excellent schools, large lots with lenient building codes, and a place to park their money beyond the reach of the Chinese government.The city, population 57,600, projects that about 150 older homes—53 percent more than normal—will be torn down this year and replaced with mansions. The deals happen fast and are rarely listed publicly.”

Ah here are a couple of obvious problems for Marblehead. I don’t think we can offer lenient building codes, while I am not sure a 6,000 sf lot in Old Town would meet the bill. Oh well, we can but dream that the Chinese will discover Marblehead one day.

Read the article Chinese home buying binge.

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 [email protected].

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

Oceanfront homes package in Marblehead and Cayman Islands

If you need to be based in New England but want to be able to escape the worst of the winters, this package of an oceanfront house (plus carriage house, ideal for guests or as a weekend retreat) in Marblehead and a beachfront, ground floor condo (including turnkey, professionally managed rental program) at Rum Point in Grand Cayman, could be just the thing for you.

Click Marblehead Estate for details of the Marblehead property and Paradise on the Beach for the Cayman condo.

For information about buying both properties contact Andrew Oliver, 617.834.8205 or [email protected]

Retreat_beach (more…)