Posted: 27 Apr 2012 04:00 AM PDT
InfoGraphic
North Shore MA real Estate for sale
Short Sale Percentages by State
April 27, 2012 By Leave a Comment
Everybody Calm Down – The Market IS Recovering
April 23, 2012 By Leave a Comment
Posted: 23 Apr 2012 04:00 AM PDT
It didn’t take long for the naysayers in real estate to jump all over the National Association of Realtors’ Existing Sales Report which was released last week. It is true that sales were down 2.6% from the previous month. However, monthly variations should not be the determining factor in deciding where the market is going. For example, in the same report, NAR explained that sales WERE UP 5.2% over last March’s numbers.
The experts should look at the key underlying data that truly determines where the market will be heading. Here is what leading economists in the housing industry are saying:
Paul Diggle, property economist, Capital Economics
“March’s decline in existing home sales probably reflects the normal month by month volatility rather than renewed underlying weakness. The increase in households’ confidence in the outlook for the housing market, coupled with a gradual improvement in the pace of the economic recovery, should drive a rise in home sales later this year….It is possible that the pattern within the quarter has been driven by the weather, with falls in the most recent two months reflecting a degree of payback after January’s gain.”
Keep in mind: Full North Shore MA real estate search map is here.
Doug Duncan, chief economist, Fannie Mae
“Conditions are coming together to encourage people to want to buy homes. Americans’ rental price expectations for the next year continue to rise, reaching their record high level for our survey this month. With an increasing share of consumers expecting higher mortgage rates and home prices over the next 12 months, some may feel that renting is becoming more costly and that homeownership is a more compelling housing choice.”
Celia Chen, senior director of housing economics, Moody’s
“The residential property market is recovering, as the factors underlying demand and supply strengthen. Even after accounting for unusual seasonal patterns brought on by the unusually warm winter, conditions have not been this strong since the government ended homebuyer tax credits in 2010.”
Mark Vitner, senior economist, Wells Fargo
“Existing home sales dropped 2.6 percent, but are up 5.2 percent from a year ago. While existing sales are down for the second consecutive month, we are likely continuing to see payback from increases earlier this year. That said, we could see one more month of disappointing data, but we still contend the recent declines are not indicative of the trend. Stabilization will become more apparent once we return to normal weather.”
Mark Fleming, chief economist, CoreLogic
“Since the peak in home prices, mortgages rates have declined and affordability has risen dramatically. Housing affordability is at levels not seen since prior to the early 1990s …While real estate professionals often say that “now is a good time to buy,” it is clear today that April 2006 was probably not a good time to buy, while now may well be the time.”
Short Sale Stats
March 30, 2012 By Leave a Comment
Beverly MA real estate foreclosures hit prices soon
October 18, 2011 By Leave a Comment
Many sellers want to wait until the spring before putting their home on the market. This might be for any of several reasons in the Beverly MA real estate market:
- They don’t want to be inconvenienced during the holiday season.
- They believe that they will see more potential buyers and as a result will get a higher price.
- In the northern part of the country, they might not want people walking through the snow and then into their house.
- All of the above
In a normal real estate market, this may make sense. However, this market has been anything but normal. This spring will also see some abnormalities. The biggest difference will be the direction prices will take.
In years past, the spring market would favor the seller because increased demand would outpace any increase in supply: the number of houses coming onto the market would not be as great as the number of buyers newly entering the market. In most situations, when demand is greater than supply, prices increase.
The reason this spring will be different is that the supply of homes coming to the market will be dramatically impacted by foreclosure properties being released by the banks. Many believe this increase in inventory will far outweigh buyer demand. In situations where supply is greater than demand, prices decrease.
Will This Actually Happen?
RealtyTrac, in their latest foreclosure report, explained:
“U.S. foreclosure activity has been mired down since October of last year, when the robo-signing controversy sparked a flurry of investigations into lender foreclosure procedures and paperwork. While foreclosure activity in September and the third quarter continued to register well below levels from a year ago, there is evidence that this temporary downward trend is about to change direction, with foreclosure activity slowly beginning to ramp back up.
This will impact prices in Beverly MA real estate. An increase in Beverly MA foreclosures and Beverly MA bank owned homes will apply downward pressure on an already strained real estate market. Foreclosed homes and REO properties in Beverly MA have not been a big problem but, as you see around you, many more jobs are being lost and we know that means mortgages aren’t being paid.
What Do Experts Believe the Impact Will Be?
Here are the pricing projections by several major entities:
- Zillow believes we will not see a bottom in prices until the first quarter of 2012.
- Standard & Poors thinks prices will drop %5 in the next few months.
- JP Morgan Chase believes prices will depreciate 6 to 7% over the next six months.
- Barclays says prices will fall 7% by the end of the first quarter of 2012.
Bottom Line
You may pay a hefty price for the convenience of not having your property on the Beverly MA real estate market right now.
Showing properties
1 - 40 of 181.
See more city of Beverly real estate.
(all data current as of
5/18/2012)
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$92,100 : 10-12 Summit Ave, Unit 2, Beverly1 bed, 1 full bath
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$99,000 : 315 Rantoul Street, Unit 302, Beverly1 bed, 1 full bath
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$110,275 : 36 Dunham Rd, Unit 208, Beverly2 beds, 1 full bath
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$112,000 : 75 Cabot St, Unit 4, Beverly1 bed, 1 full bath
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$124,900 : 44-1/2 Chase St, Unit 2, Beverly3 beds, 1 full bath
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$128,000 : 401 Cabot Street, Unit 5, Beverly1 bed, 1 full bath
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$129,900 : 36 Wallis St, Unit 1, Beverly2 beds, 1 full bath
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$144,900 : 60 Rantoul, Unit 202N, Beverly1 bed, 1 full bath
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$157,000 : 348 Rantoul, Unit 303, Beverly1 bed, 1 full, 1 part baths
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$159,900 : 12 Pleasant St, Unit 3, Beverly1 bed, 1 full bath
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$162,900 : 12 Summit Ave, Unit 13, Beverly1 bed, 1 full bath
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$164,900 : 8 Folger Ave, Unit 2, Beverly2 beds, 1 full bath
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$164,900 : 60 Rantoul Street, Unit 404N, Beverly1 bed, 1 full bath
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$169,900 : 36 Dunham Rd, Unit 307, Beverly2 beds, 1 full bath
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$169,900 : 2 Duck Pond Rd, Unit 122, Beverly2 beds, 2 full baths
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$169,999 : 103 Elliott St, Unit 7, Beverly1 bed, 1 full bath
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$174,900 : 30 Chase St, Beverly3 beds, 1 full bath
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$175,000 : 4 Duck Pond Rd, Unit 221, Beverly3 beds, 2 full baths
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$175,000 : 71 Conant, Unit 5, Beverly2 beds, 1 full bath
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$175,000 : 11 Bow St, Unit 2, Beverly2 beds, 1 full, 1 part baths
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$176,000 : 38 Dunham Rd, Unit 302, Beverly2 beds, 2 full baths
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$179,900 : 116-128 Rantoul St, Unit 408, Beverly1 bed, 1 full bath
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$182,000 : 50 Rantoul Street, Unit 207, Beverly2 beds, 2 full baths
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$189,000 : 40 Bow Street, Unit 1, Beverly2 beds, 1 full bath
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$194,900 : 47 Sohier Road, Unit 2, Beverly2 beds, 1 full bath
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$195,000 : 40 Heather Street, Unit 305, Beverly1 bed, 1 full bath
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$199,500 : 50 Rantoul St., Unit #401, Beverly2 beds, 1 full, 1 part baths
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$205,000 : 37 Wellman St., Unit 1, Beverly2 beds, 1 full bath
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$218,000 : 437 Elliott St, Unit 1, Beverly2 beds, 1 full bath
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$219,000 : 40 Heather St, Unit 312, Beverly1 bed, 1 full bath
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$225,000 : 19-R School St, Unit 6, Beverly2 beds, 1 full bath
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$225,000 : 34 Northern Ave, Beverly3 beds, 1 full bath
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$229,000 : 116-128 Rantoul St, Unit 207, Beverly1 bed, 1 full bath
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$229,900 : 90 Essex, Unit 2, Beverly3 beds, 1 full, 1 part baths
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$229,900 : 40 Chase, Beverly3 beds, 1 full bath
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$229,900 : 13 Hillside Ave, Beverly2 beds, 1 full bath
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$230,375 : 34 Woodland Avenue, Beverly3 beds, 1 full bath
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$234,900 : 30 Mason St, Unit 2, Beverly3 beds, 2 full baths
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$235,000 : 14 Franklin Pl, Beverly2 beds, 1 full bath
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$239,000 : 416 Elliott Street, Unit 1, Beverly2 beds, 1 full bath
The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.
Beverly MA real estate related sites
September 30, 2011 By Leave a Comment
Check out these valuable links related to Beverly MA
Squidoo Beverly MA Real Estate
Squidoo Northshore MA Real Estate
Showing properties
1 - 5 of 181.
See more city of Beverly real estate.
(all data current as of
5/18/2012)
-
$92,100 : 10-12 Summit Ave, Unit 2, Beverly1 bed, 1 full bath
-
$99,000 : 315 Rantoul Street, Unit 302, Beverly1 bed, 1 full bath
-
$110,275 : 36 Dunham Rd, Unit 208, Beverly2 beds, 1 full bath
-
$112,000 : 75 Cabot St, Unit 4, Beverly1 bed, 1 full bath
-
$124,900 : 44-1/2 Chase St, Unit 2, Beverly3 beds, 1 full bath
The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.
