“Buyers are coming back in force”
That quote comes from Lawrence Yun, chief economist at the National Association of Realtors (NAR), following publication of the NAR’s Economic and Forecast Update.
Highlights of the report include:
– Existing home sales in May were the highest since 2009, when there was a homebuyer tax credit
– Pending home sales hit a 9 year high
– New home sales hit a 7 year high
– Housing permits for new homes hit an 8 year high
– and
Who is John Kerry’s new neighbor?
A couple of weeks ago I posted John Kerry or a 6 car heated garage? comparing two nearby Beacon Hill properties: one had a 6 car heated indoor motor court, the other no garage but John Kerry as a neighbor.
Which would attract a buyer first?
Well the verdict is in and the winner is….John Kerry.
“Who did you say is my new neighbor?”
Well we know the Russians have been buying up real estate in major cities, but I just can’t imagine Vl-d-m-r P-t-n hoping to become best buds while strolling round the square. (more…)
Man-cave? Nah, pub-shed
According to the San Francisco Globe Pub-sheds are a growing trend. The article has some examples of how the space can be used once the tools and junk are cleared out.
I do have one concern: outdoors sheds may be great for San Francisco, but I am not sure about trekking to and sitting in one during a New England blizzard.
Source: www.readersheds.co.uk
Bruce Willis’s $8 million price cut – and no Demi Moore
As we head into July 4th, the date which traditionally sees a slow down in sales and some price cuts to try to sell houses that have been on the market for a while, Bruce Willis’s Idaho ski resort has a slightly larger than normal cut: from an original $15 million to a bargain at only $7.05 million.
Source: American Luxury
Salem condo supply jumps
Salem is a hot city with lots of good things happening there, especially for young people who are buying condos. So far this year the median condo price has increased by more than 10%. This trend has naturally attracted developers and others resulting in a sharp increase in the supply of condos for sale in the last couple or months, as shown in this chart (1 – Jan 1, 2 = Feb 1, etc, 7 = Jun 27): (more…)
Swampscott’s shrinking Housing Inventory
Swampscott’s housing inventory has actually declined since the beginning of May, a period that has seen a 30% increase in inventory of Single Family Homes (SFH) in Essex County overall. (more…)
Marblehead’s Housing Inventory jumps
After many months when Marblehead’s housing inventory was running sharply below that of a year ago, the position has improved in the last few weeks – at least for buyers. Here are tables showing the month by month totals, and the current inventory by price, for Single Family Homes (SFH): (more…)
How quickly are homes selling in Boston?
According to a recent report from Redfin, homes in the Boston area (see map below) sold at record speed in May: (more…)
Housing market: 7 reasons for optimism
MarketWatch.com published Housing market can’t lose this week.The main reasons for optimism are:
Prices: rising but at a moderate rate
Equity: as prices rise so more homeowners have equity in their homes – now up to 90% of all mortgaged properties
First-time homebuyers: loans to first-time homebuyers are now the highest in 22 years of surveys from the American Bankers Association
Foreclosures: the number of loans in foreclosure is the lowest since 2007.
Construction: both starts and permits are showing strong momentum
Supply: nationally 4.8 months, below the 6 months considered to reflect a market in equilibrium between and sellers. Listings are 15% lower than a year ago.
Family net worth: has reached a new record. (more…)
What the blue blazes does this mean?
A long time ago – make that a very long time ago – I had a German master at school whose favourite expression was “what the blue blazes do you think you are doing, boy?”, at some impropriety.
Well, in a different field, I read the following comment on the housing market. My question is: “what the blue blazes are you saying about the housing market” Because I have no idea. (more…)
Housing Inventory still down heading to July 4
As we head towards July 4th, often the target date for home buyers wanting to be in their new homes for the start of the school year, housing inventory remains well down from a year ago. (more…)
Impact of overrides on Marblehead’s tax rate
By a vote of nearly 3 to 1 this week, Marblehead voters authorized an additional $8 million for the landfill capping and transfer station projects.
What does this mean for Marblehead’s tax rate? (more…)
John Kerry or a 6 car heated garage?
Yesterday I posted How much would you pay to be John Kerry’s neighbor? about a house in Louisburg Square in Boston, listed by Brewster & Berkowitz (www.brewberk.com).
Today comes a listing from Robert Paul Properties (www.RobertPaul.com) of a nearby Beacon Hill house at 77 Chestnut Street. Here’s a comparison between the two houses: (more…)
Even CNBC doesn’t understand the bond market
Bond market lesson 1: when prices go up (generally considered a good thing by investors) the yield goes down. (more…)
How much would you pay to be John Kerry’s neighbor?
This Louisburg Square home is in “one of the most prestigious of neighborhoods in the country”, according to the listing from Brewster & Berkowitz (www.brewberk.com), with John Kerry as a neighbour.
Source: Brewster & Berkowitz
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