Massachusetts schools ranked number 1 in the country
A recent WalletHub study of States with the best schools had Massachusetts schools ranked number 1 in the country.
The WalletHub report used 17 weighted metrics, ranging from SAT scores to school safety.
Other New England States also ranked highly, with Connecticut at number 3, Vermont 4, New Hampshire 6 and Maine 8.
If you are considering selling your home please contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com for a free market analysis and explanation of the outstanding marketing program I offer.
Read Which broker should I choose to sell my house?
If you are looking to buy, I will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Trulia shows why you need to read Oliver Reports
We live in a world of unlimited free information, in fact we drown in the volume that is provided, but how do we know whether the information we are reading is accurate and reliable?
Once again I turn to Trulia as an example of, presumably, an automated system of reporting that lacks human oversight to spot that it keeps reporting nonsense. Here are its comments and charts on the Marblehead market:
Source: Trulia
Source: Trulia
Pure nonsense.
To find out what is really happening in the market read my Marblehead Mid-Year Review. To stay informed about local market conditions, as well as factors such as mortgage and property tax rates, sign up to receive email alerts of new posts on the right-hand side of the home page at www.OliverReports.com.
If you are considering selling your home please contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com for a free market analysis and explanation of the outstanding marketing program I offer.
Read Which broker should I choose to sell my house?
If you are looking to buy, I will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Open Houses Sunday July 31
It is Sunday and this morning’s forecast of rain means that the 8 a.m. Old North Church service at the Lighthouse in Marblehead is likely to be moved back to the church and I find myself thinking of references to the much-needed rain (which should not interfere with today’s Open Houses). Here are two:
The quality of mercy is not strained;
It droppeth as the gentle rain from heaven
Upon the place beneath.*
For He maketh His sun to rise on the evil and on the good,
and sendeth rain on the just and the unjust.**
Can you place the quotes? (more…)
New Listings week of July 30
Summer time and the living is…..slow. It’s a great time to be a buyer. Here are this week’s new listings:
Source: andrewJoliver.com
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
If you are considering selling your home please contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com for a free market analysis and explanation of the outstanding marketing program I offer.
Read Which broker should I choose to sell my house?
If you are looking to buy, I will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Essex County Mid-Year Review: steady progress, low supply
Sales of Single Family Homes (SFHs) in Essex County in the first half of 2016 jumped 14% from a year ago and were close to the record levels of 2002-05. Meanwhile, the median price* increased nearly 4% to a new high for the first half of the year of $400,000, the first time we have seen a six month median price reach that level.
While condo sales also increased 14% year on year, they remain way below the peak levels of 2004-06, but the median price also increased 4% to a new high of $259,000.
*In all my reports and analyses, median price calculations exclude distressed sales – foreclosures and short sales, which typically occur at a significant discount to the normal market. When I report on “sales” I refer to all sales, including distressed ones. (more…)
Open Houses today: two of Marblehead’s Unknown Oceanfront Properties
There are Open Houses today for two of Marblehead’s Unknown Oceanfront Properties, the term I have coined to describe the area from Preston Beach to Beach Street. It is “unknown” because a lot of the houses are at the end of dead end streets, down which many people have never passed.
Today’s Open Houses are a perfect beach house, with jaw-dropping views, directly on Goldthwait Beach at 46 Gallison Avenue from 12:00-1:30 and a beautifully restored 1850 house with carriage house at 11 Crown Way from 12:30-2:00. Both websites contain videos of the properties.
Open Houses Sunday July 24
The heat has gone and today looks like one of th0se perfect New England post-heat summer days. Perfect for visiting these Open Houses and taking advantage of today’s low, low mortgage rates: (more…)
New Listings week of July 22
Another quiet week for New Listings: (more…)
Million Dollar Home Sales
The first half of the year saw a modest increase in Million Dollar Home Sales in Essex County.
The second half of the year generally sees higher sales. So far in July there have been 20 completed sales with 57 more pending.
Here is a breakdown of sales by price:
Source: MLS, Oliver Reports
And finally the leading towns for sales year to date:
Two Saturday Marblehead Waterfront Open Houses
Saturday sees two Marblehead Waterfront Open Houses. Click on One Harborfront and One Oceanfront for details. (more…)
Goldthwait Open Houses: Beach house or new construction?
Three Open Houses today, in the much sought after Goldthwait area of Marblehead. Choose from new construction on the corner of Atlantic Avenue (1:30 – 3:00 p.m.) or a Marblehead Beach House (1:00-3:00 p.m.) with stunning views from Marblehead Harbor to Plymouth. (more…)
Open Houses and Market Reports July 17
Here are today’s Open Houses:
Source: andrewJoliver.com
I have published mid-year reviews for these four markets:
Marblehead Mid-Year Report: median price up 4%
Swampscott Mid-Year Review: median price up 10%
Salem Mid-Year Review: Condo Market sizzling
Beverly Mid-Year Housing Review: 9% price increase (more…)
Beverly Mid-Year Housing Review: 9% price increase
After breaking through the $400,000 level for the median price* of a Single Family Home (SFH) in 2015 for the first time, the first half of 2016 saw a sharp 9% increase to a new high of $438,250.
In my Q1 review I wrote:”The median SFH price in Beverly is around $400,000. A year ago there were 19 houses available below this level, but today there are just 7. A similar pattern is seen in condos, where the median price is around $250,000. The number of condos for sale below this level is half that of a year ago.”
The reduction in inventory of lower-priced houses continues and is detailed later in this report. At some point, when demand exists as it does today, the lack of inventory at lower prices will translate into higher prices, as it now has in Beverly.
Low inventory + low mortgage rates + buyers looking = higher prices.
The condo market has also seen shrinkage in inventory at lower prices, although as yet this has produced only a 4% increase in the median price. (more…)
New Listings week ending July 15
A quiet week for new listings, leaving inventory very similar to that of a week ago:
Source: andrewJoliver.com
Mortgage Rates: Keep Calm and Carry On
Last week in my report Mortgage rates drop again – where next? I showed the historical relationship between the yield on the US 10 year Treasury (10T) and the 30 year Fixed rate Mortgage (FRM), and said there were two reasons I did not expect the FRM to drop as far as that relationship would imply: the safe haven status of 10T,which caused strong buying of Treasuries, and the desire by banks to boost their profit margins.
This week, as markets decided to
we saw the yield on the 10T drop quite sharply, but little change in the FRM.
What happened?
In simple terms, as the fear factor receded, so did buying of 10T as a safe haven. In fact, 10T saw selling and the yield increased from 1.37% last week to 1.56% this week. With the FRM at 3.42%, up slightly from 3.41% last week, the spread – or difference between the two – dropped from over 2% to under 1.9%.
Where are mortgage rates headed?
While the spread between 10T and FRM is still higher than the average of around 1.7% in recent years, two other factors – the desire by banks to increase profits where they can in a low-interest rate environment, and the absence of buying of Mortgage-Backed Securities (MBS)* by the Federal Reserve – suggest that mortgage rates may well stabilize around these levels for the forseeable future.
*Conventional mortgages are placed into pools and sold to investors as MBS. The yield investors require is based upon the yield on the 10T, but in recent years the Federal Reserve was also an active buyer of MBS. This buying had the effect of driving down the yield asked for MBS and hence kept mortgage rates low. The Federal Reserve ended its direct MBS buying program in late 2014. (more…)
Recent Comments