Real Estate Thoughts & Information

Here is great information from the Massachusetts Association of Realtors giving some statistics to show that the market is turning:

MASSACHUSETTS ASSOCIATION OF REALTORS®

HOUSING MARKET TALKING POINTS

February 2012

KEY MESSAGES

• Home sales were up for eight straight months - prices continue to be more affordable and interest rates are still at historical lows. The combination of these two things makes it very beneficial for people who are in the market to buy.
• Market conditions, growing confidence and the “non-winter” winter has resulted in the biggest February-to-February increase since MAR has been tracking monthly data.
• With improving unemployment rates, favorable buying conditions and slow, but steadily growing confidence, 2012 has the elements for a positive year.
• Getting approved for financing continues to be an issue. People in the past who would have received the best rates, are having difficulty getting approved for a loan today. While we don’t want to go back to the loose lending standards that got us into this situation. We’d like to see an easing of the requirements to get more qualified buyers into homes.
• Low appraisals also having impact on prices as lack of comparable home sales making it difficult for appraisers to come in near agreed upon price.
• Consumers continue to get mixed signals about buying a home, but we need to stick with the facts about the long-term value of homeownership and avoid unrealistic assessments.
• In this market, using a local REALTOR® is the key to making the most of your buying or selling situation.

 

DATA TALKING POINTS

• February home sales were up 26.8% compared to the year before.
• February median prices were down 3.8% from last year.
• Condo unit sales were up 21% from last year
• Condo median prices were down 2.8% from last year

Here is some great news from the MASSACHUSETTS ASSOCIATION OF REALTORS®

HOUSING MARKET TALKING POINTS September 2011:

 

• It is a positive sign to see three straight months of year-over-year sales increase. Prices continue to be more affordable and interest rates are at historical lows. The combination of these two things makes it very beneficial for people who are in the market to buy.

• Getting approved for financing continues to be an issue. People in the past who would have received the best rates, are having difficulty getting approved for a loan today. While we don’t want to go back to the loose lending standards that got us into this situation. We’d like to see an easing of the requirements to get more qualified buyers into homes.

• In this market, using a local REALTOR® is the key to making the most of your buying or selling situation.

• September home sales went up 10% compared to the year before (third straight month of year-over-year increases)

• September median prices were up 1.7% from last year. (Month-to-month decrease is typical Aug to Sept)

• Condo unit sales up 8.9% from last year, Condo median prices were up 5.4% from last year.

GREAT to finally see some positive news in the housing market!
This may be the beginning of the turn around.  We have all noticed that things are picking up and business is starting to grow.

Full steam ahead!

Karen

Yes!  They are closing! 

We have come a long way Baby!  Just a few years ago they were taking 6 months to a year and still there was bad news at the end.  Not so much today.  The banks have gotten much more efficient and brokers as well as lawyers know the routine of each bank, what they need and when. 

Oh sure, there are still a few that don't go through. 

If you are a buyer make sure you ask the realtor questions like, "Who will be handling the short sale?", and "Who is the bank?  Are the sellers being cooperative? Has all of the paperwork been submitted to the bank yet?". 

If you are a seller make sure you ask the realtor questions like, "Have you done short sales before? How many? Do you handle them or do you have an Attorney handling them?  What is your plan?". 

Short sales, they are a closing! :)

Karen

Karen J. Archambault   

For a FREE list of property for sale or rent in and around Southeastern, MA & RI visit www.KarenTheRealtor.com
Learn more: KarenTheRealtor Friend me: Facebook  Recommend me: Linkedin  Refer me: ActiveRain Follow me: Twitter 

Let My Knowledge and Patience Lead You Home

Century 21 Associates Realty, 657 Pleasant St., Fall River, MA Phone 508-677-3233 Fax 508-679-2006 

Oh, And By The Way...I Am Never Too Busy To Take Good Care of Your Referrals

The bank owned properties are multiplying before our eyes. Boarded up single family and multi family homes.

No longer do we work side by side with our local realtors. In this market we work with the listing agents who are not from around here, who easily carry 100 listings in Massachusetts and Rhode Island from different banks, who have no idea what the properties even look like because they hired a company to secure the building and put a lock box on it.

We never meet or see this listing agent. We may speak to them on the phone but they don't know who we are as we re-introduce ourselves every time we call. Investors simply give us the addresses of the properties they are interested in and we call each agent, or the new MA pass, to get the lock box combinations. We drive from one property to the next each vacant, colder inside than out from being sealed up with heating systems drained of all water and power turned off.

You wander through unknowingly where each room will lead. No agent is there to tell you about the neighbors or the age of the roof or when updates to the house were done. You are alone wondering what happened to the owners. Sad to know this was someones home.

Each showing only takes 15-20 minutes to show until you are on to the next. No tenants to call ahead of time to get permission to be let in. No smells of cooking or home. Just cold, dark rooms. Low offers are presented and the few that do end up selling usually still take months to close because of the title issues that come up with this or that paper missing at the registry from when the bank took the house.

Sometimes they close....sometimes the buyer gets tired of waiting and walks away.

This is what it is like to sell bank owned property in Southeastern Massachusetts today.

Karen

Karen J. Archambault   

For a FREE list of property for sale or rent in and around Southeastern, MA & RI visit www.KarenTheRealtor.com
Learn more: KarenTheRealtor Friend me: Facebook  Recommend me: Linkedin  Refer me: ActiveRain Follow me: Twitter 
Let My Knowledge and Patience Lead You Home
Century 21 Associates Realty, 657 Pleasant St., Fall River, MA
Phone 508-677-3233 Fax 508-679-2006 
Oh, And By The Way...I Am Never Too Busy To Take Good Care of Your Referrals!

Bring us Spring!                     

I want to see the sun and flowers blooming.  I want to see the leaves budding (even though they make me sneeze!).  I want to show homes with the sun roof opened and feel the warm sun on my head and go home to watch my garden growing more each day. I want to go on appointments without a coat on and be able to move unrestricted by heavy clothing.

I know I live in New England and this time of year you will tease us with a warm day and then throw a cold day in to make sure we understand that you are in control.

I know I should be fortunate that we are not in danger of an earthquake or sunami or some other natural disaster but I do so love the sun and warmer days!  How I long for it!

The fever is running wild through everyone here. Anticipation.

We can't wait, long for it and look forward to it!

Spring time!

Karen

Karen J. Archambault                  

For a FREE list of property for sale or rent in and around Southeastern, MA & RI visit www.KarenTheRealtor.com

Learn more: KarenTheRealtor Friend me: Facebook  Recommend me: Linkedin  Refer me: ActiveRain Follow me: Twitter 

Let My Knowledge and Patience Lead You Home

Century 21 Associates Realty, 657 Pleasant St., Fall River, MA & 230 Maple St., Swansea, MA Phone 508-677-3233 Fax 508-679-2006 

Oh, And By The Way...I Am Never Too Busy To Take Good Care of Your Referrals!

A few interesting facts from Fannie Mae's latest national housing survey that was conducted from Oct. 2010 through Dec. 2010:

Americans are more confident about home prices stabilizing than they were at the beginning of 2010.

Young Americans are particularly optomistic.

80% thought housing prices would hold steady over the next 12 months.

61% thought the economy is heading on the wrong track.

Young Americnas, Hispanics and African-Americans were the most positive about home ownership.

60% of Generation Y (18-34yr old) felt buying a home offers a lot of potential as an investment.

1/3 of HIspanics and African Americans say they plan to buy within the next 3 yrs.

1/4 of the general population say they plan to buy within the next 3 yrs.

Very Interesting!!!