Marblehead’s incredible booming market, according to Trulia
I suspect that one day Trulia will get access to accurate information about the Marblehead market and when that happens my fun will come to an end.
Meanwhile….
Wow! (more…)
What’s happening – or not – in the Marblehead market?
I am always cautious about reading too much into short-term trends, especially in a market like Marblehead with a small number of sales, but at the same time I do try to report on current market conditions.
And I am puzzled by what has been happening over the last 2-3 weeks – or rather by what has not been happening. And that is houses receiving accepted offers. (more…)
Tom Brady and Lifebridge
Tom Brady is speaking at Salem State University on Thursday, May 7 at 7:30 pm.
I have a pair of reserved $75 tickets which I will offer to the first person who helps end homelessness by making a $500 donation to Lifebridge (www.LifebridgeSalem.org). (more…)
Housing Inventory: better in places but still tight
As we move into the spring selling season we are seeing the traditional pick-up in inventory, although it varies from town to town. Overall in Essex County, the number of Single Family Homes (SFH) for sale is 15% lower than a year ago, while the number of condos is down 17%.
Here are the numbers for each city and town. First, SFH: (more…)
Would you like free college tuition with that mortgage?
It’s that time of year when college choices have to be made – and financing decisions also – and so I would like to update an article I first wrote a couple of years ago.
What is the difference in interest payments between a 15-year and 30-year mortgage on a $500,000 loan?
Go on, guess. $25,000? $50,000? That sounds like a lot, but it’s not even close. (more…)
Essex County housing inventory: worse than you think
After my article yesterday Marblehead inventory:even worse than you think I have looked at Essex County overall.
There are currently 1352 Single Family Homes (SFH) for sale in Essex County, down nearly 20% compared from 1660 a year ago at this time. But the position for buyers is even worse than it appears.
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…)
Would you like an electric car with that condo?
According to this Condo raises the Bar article in Boston Curbed (www.curbed.boston.com), a Jamaica Plain condo has just raised the ante in amenities: a shared electric car, complete with on-site charging station. (more…)
Buy or rent? It’s NOT just a financial decision
OK, be warned, I am about to get on my soapbox.
Below I post a link to a recent Boston Herald article quoting a Zillow study comparing the costs of buying vs renting in different cities in the US and in different neighborhoods around Boston and Cambridge.
It’s not that I do no think article like this have some value. They do, encouraging people to think about how long they will stay in a house before making a major financial decision.
No, my problem with articles such as this is that they focus only on the financial aspect of buying a home. (more…)
How to avoid dust during remodeling
During remodeling, contractors create the most dust during demolition and drywall and plaster sanding. That dust travels with the airflow of the house and creates a lot more hazardous conditions than your typical dust bunnies.
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…)
$7 Million Boston Condo sale
The highest priced condo to sell so far this year in Boston closed recently for $7 million, according to the Boston Globe. The highest-priced sale last year was $13 million, but it’s early days. After all, the penthouse at Millennium Tower is still available – for $37.5 million. If you would like a showing, just call. (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…)
5 mortgage predictions for 2015
The Federal Savings Bank, despite its name, is a private bank. It has just released the following predictions for 2015:
– mortgage rates will remain low in 2015, with the Federal Reserve hesitant to raise rates
– mortgage application volumes will increase, driven by low rates and improvements in the job market
– refinancing activity will increase
– slow international growth will keep US interest rates low
– prospective homebuyers may be more confident about entering the market (more…)
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