Open Houses weekend before Thanksgiving
Here are the Open Houses this weekend. Because of the quirks of MLS properties with OH’s both days do 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…)
Latest New Listings and Inventory
Here are the latest New Listings (the state of inventory is shown later in this article).
Click these links for details: (more…)
Guide to Buying and Selling in Southwest Florida
The goal of this document is to acquaint you with the process of buying and selling in Southwest Florida.
Buyers
Showings
Listings appear in MLS with a link to ShowingTime to schedule showings. The advantage of this method for a buyer is that I can monitor the number of showings and gain insight into activity.
Two recent examples: a house near me in North Naples was listed at $415,000 on a Friday with Showings starting on Saturday. I could see that showings were back-to-back- to-back and on Sunday the listing agent asked for offers by 5 pm. The house sold for (more…)
New Listings and Inventory Update
Here are the latest New Listings (the state of inventory is shown later in this article):
Click these links for details: (more…)
Open Houses Sunday November 14
This is the updated list of today’s Open Houses:
Click on these links for details: (more…)
Are Mortgage Rates really under 3%?
When Freddie Mac released its weekly mortgage survey on Thursday it did so with the heading: “Mortgage Rates Drop Below Three Percent Again.”
Which they are not now.
The problem lies with the methodology. Freddie Mac surveys lenders from Monday to Wednesday with the major weighting given to Monday’s rates. As I have explained in many postings over the years (see Mortgage Rates back to 3% – again as an example), the 30-year Fixed Rate Mortgage (FRM) is priced based upon a premium that investors, when they buy pools of mortgages, demand over the yield on the nearest-equivalent US Treasury – which is the 10-year Note (10T). Thus, if the yield on 10T increases from Monday to Thursday – as it did this week – by the time of Thursday’s announcement the FRM may have changed – as it did this week.
Mortgage News Daily had a great article this week and I am going to use their charts. I recommend signing up for their newsletter, a source of great information and opinion. (more…)
New Listings and Inventory Update
Here are the latest New Listings (the state of inventory is shown later in this article).
Click these links for details: (more…)
Open Houses weekend November 113/14
Here are the Open Houses this weekend. Because of the quirks of MLS properties with OH’s both days do 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…)
Mid-week New Listings and Inventory Report
Here are the latest New Listings (a link to my report on the current state of inventory is shown later in this article):
Click these links for details: (more…)
Open Houses Sunday November 7
Here is the updated list of today’s Open Houses:
Click on these links for details: (more…)
Open Houses weekend November 6/7
Here are the Open Houses this weekend. Because of the quirks of MLS properties with OH’s both days do 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…)
Latest New Listings and Inventory Update
Here are the latest New Listings (the state of inventory is shown later in this article). Note the post-Halloween surge in Salem:
Click these links for details: (more…)
How accurate are Zillow’s Zestimates?
During the pandemic-spurred housing boom, Zillow Offers emerged as a particularly aggressive iBuyer, or instant buyer, of homes in Sun Belt markets, offering homeowners more than the market value of their properties, with no catch. Zillow has now conceded that it has been paying too much for properties, even in a market characterized by soaring home values. Saying it had lost $1 billion on iBuying, Zillow has shut down its Zillow Offers unit.
“We’ve determined the unpredictability in forecasting home prices far exceeds what we anticipated and continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility,” Chief Executive Rich Barton said.
Zillow used an algorithm to make home price estimates, called the “Zestimate,” and determine what it would pay home sellers.
Are Zestimates accurate?
Zestimates are somewhat like the National Hurricane Center’s projection for a hurricane’s path: both provide a single price or point, but those prices and points are actually the median of a range.
Here’s an example for a house: (more…)
Support the Fort (Sewall)
Preserving Fort Sewall – A Centennial Campaign Established in 1644, Marblehead’s Fort Sewall is one of the oldest English coastal fortifications in the United States, and is the second most visited spot in town according to surveys, with over 50,000 annual visits by residents and visitors. Known for many years as the Marblehead Fort or the Fort on Gale’s Head, it was renamed in 1800 to honor Marblehead’s Samuel Sewall, Massachusetts Supreme Judicial Court’s Chief Justice.
The Fort’s greatest historical moment was probably Sunday April 3, 1814 when the U.S.S. Constitution, being chased by two British frigates, escaped into Marblehead Harbor under the protection of the fort’s guns. Two Marblehead crewmen piloted the Constitution between Marblehead Rock and Marblehead Neck – thus escaping the British warships that lacked charts for the harbor’s underwater rock outcroppings. (more…)
Mid-week New Listings and Inventory Update
Here are the latest New Listings (a link to my report on the current state of inventory is shown later in this article):
Click these links for details: (more…)
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