Current New Clip on MA Housing Market from NECN

Here is a recent clip on the MA housing market from NECN:

MA Housing Market Report

NOW Is THE Time To Sell!!

If you are seriously thinking of selling your house, NOW is the time to get serious.  So you think we are at the bottom of the market?  Here are a few points to consider:

• Single Family Sales units in North Central MA are declining at a Faster rate (more than 2 times) than the same period last year.
• Single Family average Sale Prices are declining at a Greater rate than the same period last year.
• Lending standards are getting increasingly more difficult - i.e. harder to get a loan.
• Job losses are only Now starting to come into play - and there are more coming.
• The economy is eroding before our eyes.
• The foreclosure rate is increasing
• Currently we are 2-3 years before the 'Bulk' of the Adjustable Rate Mortgages reset (Including the Option Arms - what's an Option Arm? Look for another post soon).
• I can go on...

Looking at these facts, is there any reason why you would think that prices are going to go up? 

OK, so you are a buyer.  Why Buy now? Well, 30 year Fixed Rate Mortgages (yes, FIXED - not Blend loans, Option Arms, NINJA loans, etc.) are still at 40 year lows BUT prices have been beaten up over the past 3 or so years.  We are seeing prices back to levels we saw in 2003 +/- but Mortgage rates are just about as low as back then - thus setting the stage for some great affordability.

If you have a secure job, this is a great opportunity.  Yes, prices may fall more, however Interest rates are almost sure to go up due (to the economy, the low value of the dollar, imminent recession, etc).  So remember, small changes in the Interest rate can equate to large increases in the payment.

Leominster, MA 01453 Market Update for Q3 2008

Here is the RealtyMan Market Update for Leominster, MA 01453 from Full Year 1999 through the first 3 Quarters of 2008

The number of Single Family Units (not including condo) in Leominster has decreased over 15.5% for the 1st 3 Quarters as compared to 2007 from 199 units to 168.  See Graph below:

As you will see below, the average sale price has fallen as well, but not quite as dramatically. It declined a little over 12.3% over the 1st 3 Quarters as compared to the same period of 2007 (from $266,371 to $237,610).

However, diving into the statistics a little more will show that 'Same House Sales' have declined more than these averages show.  Is it going to get better?  Economics 101 tells me that we need to see Units recover before Prices will.  Given the state of the economy, do you think we will see units increase?

For a more specific analysis on the market as it pertains to your specific property, please feel free to contact the top selling Realtor in Leominster, MA Every Year since 1999! 

Why Now Is A Good Time to Buy

We all know of that the economy is a mess (thank you Wall Street & Congress), however I find that I've been Very Busy over the past 2 weeks.  I've been negotiating offers in the $200K range all the way up to the High $800K range (with a few in between).  You may be wondering Why anyone is buying right now.

Well, think about this:

First, let me go through the assumptions:

30 Year Fixed Rate Conforming Loan (Principal & Interest Only)

A $300,000 loan at 6% is approximately $1,798 per month.

A $300,000 loan at 8% is approximately $2,201 per month.

Guess how much the value of a property would need to drop in order to get the payment back to what is would have been at 6% instead of 8% in this example.

Approximately $55,000!

$245,000 at 8% over 30 years is just over $1 per month in payment.

So... Given all of the economic BS going on out there, do you think Mortgage Rates will be going up or down?

Remember Fannie Mae & Freddie Mac?  Do you think investors are lining up to buy Mortgage Backed Securities right now? If the demand for MBS's goes down the return must go up in order to lure the investors back in (supply/demand).

Not to mention that it is harder to get a mortgage right now than it was before, and it appears that it will continue to get more difficult.

So if you are looking to buy a home to live in (not to flip) then Now may be one of the best times.

What do you think??

Tough Economic Times - but for how long?

So maybe there is good news soon after the bad times we are in.

Here is a link to a study from the Harvard Business School Recession Chart !

Let's hope that history repeats itself...

Who Cares About Data Integrity?

First Off, I am irritated  - so bear with me.

Is it just ME or doesn't anyone care about the integrity of the Listing Data that is out there online?  Maybe consumers don't know, or understand, that some Real Estate sites that are found online only have Some of the lisings but are lacking All of them.  They only place the listings of their 'Advertisers' on their sites.

Other sites update only weekly.  And some have listing data that is Years old (Really!  Years old). 

Many of the 'National Aggregator' sites don't update photos either (5 months on market and 'No Photo' even though the photo has been in the MLS since day 3). And yes, the MLS is where almost all of the sites pull their data from. 

And some pull from multiple sources, so the consumer gets to see 5 of the same listing (and ironically, not all with the same data).

So where am I going with this?  The most accurate listing information you will find is from your local Realtor (office or agent) which has their site updated with the Full Feed from the MLS.  Like http://www.realtyman.com/ for instance.

If you only want SOME of the listing data, then feel free to search several sites.  If you want ALL of the listings, your best bet is the Local Realtor.

RealtyMan Spotted at the Mass Assoc. of Realtors Convention

See if you can find Gerry 'RealtyMan' Bourgeois in this video: Click Here to find Realtyman
This was recorded by the girls at BatchBlue.com

Another of RealtyMan's Marketing Avenues

See Gerry's Latest ad in Distinctive Homes Magazine! Click Here

Lunenburg, MA 01462 - Now $637,500!

Mortgage Rates Drop (Today at least)!

I've seen a few 30 Year Fixed Rate Mortgage Rates get quoted today at 5.5%. This is GREAT for anyone considering buying!
Think: Prices beaten up over the past 3 years. Rates are where they were 3 years ago (+/-).
DO NOT MISS THIS Great Opportunity!

Timing Is Everyting!

The recent 'bail-out' of Fannie Mae & Freddie Mac has sent typical conforming 30 year fixed mortgage rates down into the low 6% range and possibly into the high 5%'s! This means that buyers have more purchasing power (can afford more house for the same payment as before)!
We all know that prices have declined over the past few years, however with the current decline in mortgage rates (which could be temporary),this is one of the best opportunities I've seen to buy in quite some time.
Check with your local lender for exact rates & terms as they may (and probably will)change!

Real Estate Marketing Changing Faster than the Market

Everyone has noticed that the Real Estate market has changed over the past few years. But has anyone noticed that Marketing Real Estate has changed, even more dramatically, during the same timeframe.

Traditional print advertising is all but dead.
Even Internet marketing strategies (if some even had one) don't work like they used to, and continue to diminish.

So if you are serious about SELLING your property in this market, lets chat. I'd love to show you all of the new & innovative things that Towne & Country, Realtors is doing to capitalize on this change. T&C, lead by Gerry 'RealtyMan' Bourgeois, has always been on the cutting edge of Marketing & Technology - And We Still Are!

Leominster, MA For Sale $347,500

Where Do You Get Home Listing Information?

A Study by the National Association of Realtors in 2007 found the following:
84% of buyers begin their search for a home online.
73% drove by the house as a result of seeing the house online.
57% actually scheduled an appointment to view the property they saw online.

Information Sources rated as "Very Useful" by buyers:
Internet - 78%
Realtor - 70%
Yard Sign - 29%
Print Ad - 17%

From the research done at T&C, we find that the vast majority of inquiries come from people who have seen a property online.
Yes, we still get some print-ad calls, but they are VERY Few and far between.

Anyone care to let me know what their favorite place to find homes for sale is? (Internet or Print).

North Leominster Home For Sale - $350,000

Loans Increasingly More Difficult to Obtain

Yes, lots of mortgage money is available. However, for many, the requirements to access this available money is still getting more stringent. FannieMae (FNMA) announced earlier this week that they were Increasing the 'Declining Market Delivery Fee' to .5% as of October 1st (which will of course be passed onto the consumer in the form of Higher closing costs or Increased interest rate).

Also, another trend is 'Credit-Scoring' the interest rate. Although this has been the case for quite some time, the Secondary Market is now looking at slicing the rate into far more credit score tiers.

I don't disagree with the rational of all of this, however, for anyone lookig to buy in the near future (that does not have a very high credit score) should not try to time the bottom of the market because it could really end up costing you more in the end.

You Don't Need A Realtor!

OK, I know this one that you have been thinking about. Why Do you need a Realtor?
I mean really, why do you?

First of all, there are 2 sides of a real state transaction: the Buying side and the Listing side. Lets start with the buying side...

You can get listings just about anywhere. There is all kinds of data online. You can just call the listing agent to see the house (oh, whos job by the way is to take all of your money and give it to the seller - their client). You can navigate the current changes in the mortgage market. And all other kinds of fun. And if you are moving from another part of the state or the country, it is even more fun.

And if you are a seller...
You can research comps online (if you can find them they are probably outdated). You can check Zillow (to see what your house probably Isn't worth - up or down).
You can check Trulia and get incomplete data (at least as of this post).
You can put an FSBO sign on your lawn and post on the FSBO sites (ensuring that you'll see most of the 'bottom feeders' looking to steal your house).

Hmm, maybe you do need us?

Could This Be The Best Time To 'Trade Up' in Real Estate?

Ok, anyone who does not live in a cave on a remote island somewhere (and probably them too) know that the real estate market has been beaten up over the past couple of years. Most of us know how and why we got here and where things went 'wrong'.

Fine, we were 'there' and now we are 'here', but has anyone cared to take a look at where 'here' is?
House prices have fallen pretty much across the board in Leominster, MA and the rest of North Central Massachusetts (some areas more than others). One of the interesting facts is that the Fixed Rate 30 year mortgage has been ranging in the 6%'s for quite some time now - with the rare occasional dip into the very high 5%'s. So, prices have softened but rates have remained relatively stable (and still historically very low).

So what does this mean? In my opinion, this is one of the BEST times to trade up to a more expensive home. Why?
Many people are trying to 'downsize' which is resulting in a lot of inventory on the upper end of the market - therefore supply/demand is in your favor.

In addition, the market is very compressed in many of the towns in central MA. Meaning, that a 'little more money' will buy you a LOT more house. Just compare what you can get in Leominster, MA for $250,000 to something at $350,000 and you'll clearly see what I mean.

Also, you are buying into the down market. When prices appreciate (and they will at some point), the percentage gain on a larger value will result in a larger return (e.g. 20% of $500K is greater than 20% of $275K).
And remember, mortgage rates can't stay this low forever.

So there is opportunity for those with a long-term view of residential real estate. How does it play into your current situation? I don't know - but contact me; I'd love to help you figure it out.

Alphabet Soup: What do all those letters mean after a REALTOR's Name?

Did you ever wonder what all of the letters after a REALTOR's name actually mean. For most consumer it looks like alphabet soup, but there is a real value to most, if not all, of these 'Designations' as they are known in the field.

I aim to clarify what most of the popular Residential Real Estate Sales Designations are. I say Real Estate in this instance (and not REALTOR) because not ALL designations are sponsored and/or recognized by the National Association of Realtors (NAR).

First are the NAR Designations:
ABR: Accredited Buyer Representative
ABRM: Accredited Buyer Representative Manager
ALC: Accredited Land Consultant
CIPS: Certified International Property Specialist
CRB: Certified Real Estate Brokerage Manager
CRS: Certified Residential Specialist
CRE: Counselor of Real Estate
GRI: Graduate REALTOR Institute
SRES: Seniors Real Estate Specialist

And NAR Certifications:
AHWD: At Home With Diversity
ePRO: Online Professionalism
RSPS: Resorts & Second-Home Property Specialists
TRC: Transnational Referral Certification

There are also MANY Non-NAR designations. Not to take anything away from these, but they are not sponsored by NAR. Some of which include:
ASR: Accredited Seller Representative
CRP: Certified Relocation Professional
CSP: Certified New Home Sales Professional
EBA: Exclusive Buyer Agent
RECS: Real Estate Cyber Specialist
SRS: Seller Representative Specialist
And there are surely more...

Some Designations (or Certifications) are much more difficult to obtain than others. I can tell you first hand that a few of my designations were not easily obtained and required many weeks worth of classes along with a documented track record to obtain- while others required little more than a valid credit card. But, any agent that is willing to further educate his or herself will undoubtedly be a person that is focused on best serving their clients. I have always felt that we all need to be constantly educating ourselves. We all need to Never Stop Learning.

92 Revolution Dr., Leominster, MA 01453

Can It Get Any Worse?

Residential sales are off of last years pace in units And the average (and median) sale prices are falling as well (not as much as units, thankfully). And we all know that mortgage financing has become harder to obtain as of late.

So... Just when it was looking pretty bad out there, Fannie and Freddie may now need to be bailed out by good old Uncle Sam (read: You and I who Pay Taxes). Does anyone remember what the Mortgage Market looked like BEFORE 'The Secondary Market' (Fannie & Freddie)? Let me refresh your memory: 20% down, 16% to even 21% mortgage rates, and a lack of available mortgage money Even If you had 20% down And was WILLING to pay 18% +/-. Not to mention that borrowers actually needed to have money, a stable job, some savings, reasonable debt (all novel concepts, no)?

Why am I telling you this? Because if you have the desire to own a house anytime in the near future, NOW may very well be The Best Time to Buy. Oh, and if you are looking to sell, PLEASE price it right - or wish that you did.

Gerry Realtyman Bourgeois attended the MAR Tech Conference

Although it is proven that I am one of the more technologically advanced Realtors in the Central Massachusetts marketplace, I spent the entire day at the Massachusetts Association of Realtors Technology Conference in Andover, MA on June 12th. (Any chance this continued learning is Why I'm sometimes referred to as the 'Tech Realtor')?
Matthew Ferrara did an excellent job moderating the event and Michael Russer was an fantastic keynote speaker. I am already beginning to implement many of the ideas that picked up there.

Gerry 'RealtyMan' Bourgeois meets with Roost.com

Gerry met with Matthew Cullen and Paul Irving of www.Roost.com which is a real estate search site! They have some very exciting things under way. I've been glad to have had the opportunity to Test for them over the past several months. I look forward to continuing the relationship. (Also, it was a beautiful day on Newbury Street in Boston - gotta love Stephanie's).

One of the Finest Homes in Massachusetts

Kitchen Trends

We all know that Kitchen and Bath renovations give the biggest 'bang for the buck'. Over the past several years there has been a vast array of new options for people looking to upgrade their homes.

Believe it or not, I don't spend All of my time selling Real Estate in Central Massachusetts. I enjoy cooking (and eating) and entertaining as well.

This is an example of what I did to my kitchen in the home I bought last year:

This is the Kitchen Before...
It had been 'updated to sell' with a granite counter & ss range

This is the (same) kitchen After...
Upgraded for my Enjoyment

Translucent Counter Surface with 70' of LED Lighting,
Bronze European Cabinetry, Bamboo Flooring
Blanco Faucet, Tech Lighting, Jenn-Air Appliances

I know it won't appeal to all - but I did it For 'Us' and not resale. Remember if you plan to stay in your house for a while, it is OK to think outside of the box and do what You Like!

Foreclosure Deeds in MA Reach A Record in April, 2008

I received an email this morning from Banker and Tradesman (a publication of The Warren Group) indicating the following:

"Massachusetts foreclosure deeds soared to their highest recorded level in April, according to The Warren Group, Banker & Tradesman’s parent company. The number of deeds so far this year outpaced those in the first four months of 2005 by 1,165 percent."

Sounds bad doesn't it? But here are some points to consider:
These foreclosures are largely a result of activities that took place 2 to 4 years ago.

Since then:

• Lending Standards Have Tightened significantly (and in my opinion; TOO much).
• 100% financing is no longer available to 'Just Anyone' anymore.
• Prices have adjusted.
• Conventional Fixed Mortgage are still Historically 'Good'.
• Conforming Loan Limits in some counties have been increased (unfortunately Not in Worcester County).

So what does it mean for Sellers?

• You MUST price your property correctly for The Current market we are in!
• You MUST have your properties Marketed aggressively!
• Your property MUST be Better than every other that you are directly competing against!

So what does it mean for Buyers?

• You have a Great Opportunity right now!
• Mortgage Rates are Historically LOW!
• There are Many Homes for you to choose from!
• You are 'Buying Into a Down Market'!
• Your lender does NOT want to put you in a situation where you will face foreclosure!
• The Real Estate Market will go up again - not sure when - but it will!

So Remember The Following:

• ALL Real Estate is LOCAL!
• Nobody will see 'The Bottom' until we are past it!
• Mortgage Interest Rates Cannot stay this low Forever!
• The Real Estate Market is Worse in some parts of the country and is Better in others!
• The "media" cannot sell 'The Middle' of any story. Only extremes can sell papers/tv/etc... so they always report on the worst!
• Always use the most Knowledgeable and Reputable Realtor that you can find to assist you if you are selling OR buying!

It's a Busy Day at Towne & Country, Realtors...

One of the reasons why Towne & Country, Realtors is successful in this market: We Work!

Fannie Mae (FNMA) Takes Away Declining Market Penalty

On May 16th, 2008 FNMA (otherwise know as Fannie Mae) has repealed the reqirement that borrowers in 'Declining Markets' put an Additional 5% down payment on top of the typical down payment required for the program Effective June 1st, 2008. This is GREAT NEWS for Worcester Country, MA which was declared by FNMA as a declining market (FNMA's definition of a declining market is 2 consecutive quarters showing 1% or more decline in value).

This provision was pretty unreasonable given the current climate and has further aided in the slowdown in the market in 'declining markets'. In addition, FHA Lons have gained in popularity over the past few months due to low downpayment requirements and the realative ease of qualifying borrowers (especially first time borrowers) - In essence FHA was eating Fannie's lunch!

More lending opportunities can only help this market which still is ripe with opportunity.

Could it be that 'common sense' is now starting to prevail in the mortgage lending markets?

What do you think?

T&C is #1 in Leominster Jan 1 - Apr 30, 2008

Towne & Country, Realtors is the top selling Real Estate Firm in closed $ volume according to data from MLSPIN for the following criteria: Single Family, Condo, Multi-Family & Land sales from January 1, 2008 through April 30, 2008 (as posted through today). T&C is leading in closed $ volume market share by over 13% to the next closest firm.

As for units, 1 firm closed 12 while T&C is tied with 3 others having 11 units.

Massachusetts - They get you Coming - AND Going!

The Commonwealth of Massachusetts derives revenue (read: Money) from the sale of real estate through the sale of State Tax Stamps (yes, many years ago they were actual 'stamps' affixed to the deed. Now, they are just numbers on the deed which shows the amount removed from the Seller's wallet).

The amount of the excise tax stamp differs from time to time depending on the action of the State General Court. In Worcester County and Northern Worcester County, the seller, by custom, is obligated to pay for the amount of this stamp tax (excise tax) just as the buyer is accountable for paying the recording fee for the deed and his/her mortgage.

The money paid for the tax stamps is income to the Registry and is forwarded to the Commonwealth of Massachusetts Department of Revenue. The current tax stamp rate is $2.28 per $500.00 of sale price (or $4.56 per $1,000.00 of sale price).

Lets assume you sell your house for $400,000 in Massachusetts: You must pay the State of Massachusetts (what is in essence) an Excise Tax in the amount of $1,824.00 for the privelidge of selling your property in the Commonwealth of MA.

As I said in the title - Tax-achusetts gets you both coming and going!

Gerry Bourgeois is Quoted in the Sentinel & Enterprise

I was quoted on Sunday - April 27th, 2008 in the Leominster/Fitchburg Sentinel & Enterprise.

http://www.sentinelandenterprise.com/local/ci_9074609

When is a Clause Not a Clause...

Language is Very important; in life, in love and in real estate. For those who are not represented by Legal Counsel (read: Attorney, Lawyer, etc.) a keen understanding of Language is extremely important! So is the importance of having legal counsel.

Read this clause for example:
"Subject to the Seller entering into an accepted offer on a property within 'X' days of acceptance of this offer."

If the Seller enters into an accepted offer on their new property within the specified time frame but the Seller's deal on their new property falls apart at some point before closing, what happens:
A) The sale on the Seller's house they are in now terminates.
B) The Seller must go through with the sale to the current buyer on their present property.

What do you think (and why)?

Stonegate Village in Sterling, MA 01564

OK... I am very glad to have the opportunity to represent Fossile Builders with their Townhouse complex of 14 Units in Sterling, MA 01564! This is an amazing opportunity to live in Sterling for Under $240,000!
Located just minutes from I-190 and Route 2, easy access to shopping as well as major employment areas make this opportunity one that is not to be missed!
10 of 14 units are still available. 3 are "ready To Go"!

Realtyman's Vehicles - Past & Present

Have You Seen one of the Finest Homes in Central MA?

There are Few homes like this one... And even fewer Opportunities to be able to Own One!

Spring Market is Upon Us...

More Real Estate Words of Wisdom from Gerry 'Realtyman' Bourgeois:

Well... The Spring Market is upon us. What's happening in North Central MA, you ask? Nobody really knows for sure. Mortgage rates are still very low (historically) - around 6% for a 30 year fixed rate. 100% financing is all but gone. OK, 100% LTV may be available in SOME instances, however they are few and far between. FHA is making a 'comeback' but buyers still need to bring Money to the table (quite a novel concept).

Sales are actually increasing (units, that is) but there is still quite a bit of pricing pressure. Homes which are priced correctly relative to the current market (not 2004 values) can - and DO - Sell!

We are seeing more activity in the lower end of the market for single family homes. However, we are also seeing the 'upper-end' getting cherry picked. The good upper-end homes are selling. The real challenge is in the middle of the market. It is very hard for the middle to find any direction right now. Also, many who are in the middle are reluctant to make a decision.

Due to pricing in addition to financing constraints, the condo and multi-family markets are faring Far Worse than the Single Family market. And until the supply/demand curve shifts - I don't see that part of the market getting better (price wise) any time soon.

In the 18 years of selling homes in North Central MA I have yet to see a better time to 'trade up' to a "better" single family home as I do now. This is a result of the current pricing pressure combined with the low cost of mortgage money. (Remember: at 6% over 30 years - $100,000 costs only $600 per month (P&I)).

Only time will tell when we hit bottom. Unfortunatley we will only know that we have hit bottom once we are about 6 months past it. At that point, mortgage rates will most likely be higher - and the only one who wins there are the banks.

Here's to hoping that the Spring Market units continue to remain strong!

Buyer Activity Increasing in Central MA

As of the past week I, as well as my agents at Towne & Country, Realtors, have seen an uptick in buyer activity. Internet inquiries as well as phone inquiries have increased significantly. Showings are up across the board and offers are not only being seen but several have been accepted or are in negotiations.

It appears that buyers are taking advantage of the combination of low mortgage rates and soft prices.

Properly priced homes will still sell in this market.

Keep educating yourself on the market because when it turns we will be past 'the bottom' of the market before anyone will see that we were 'there'.

More Declines in Home Pricing to come!

This is what we are seeing today in many of the major financial news sources outlining a report from Merril Lynch.

Although there still appears to be no shortage of homes for sale at this time, and nobody knows for sure what the future holds, bear in mind that this is just one analysis and they are looking at the real estate market Nationally!

Remember, real estate is, and has alwas been, LOCAL. Arm yourself with accurate data from a pro in your area before making a decision. There are some good deals out there. Also bear in mind that Homes Are Still Selling!! Not all of them mind you, but propertly priced homes do sell.

Leominster, MA 01453 Real Estate Market Update

Not Much Is Happening, Except...
Fed Drops Key Rates! Huge Stock Market Swings! Fixed Mortgage Rates back to near 40 Year Lows!
Wow! There are a lot of big things happening right now. Unfortunately there is so much happeing right now which people are paying attention to that they may not see the opportunity that is at hand.

Low Mortgage Rates, A Beatten-Up Housing Market, Lots of Inventory, and a very Compressed Market (at least in the Leominster, MA and Greater Central Massachusetts area)! In the 17+ years of 'full time' real estate sales, this is one of the Best times to Buy UP that I can remember.

When looking at the relatively LOW cost of money combined with the fact that you can get so much more house for not a lot of additional cost per month (at least in the Leominster, MA 01453 area) at this point, it is almost shocking that more people don't take advantage of this opportunity!

Look at the listings on www.RealtyMan.com and see the difference of a home for sale for $250,000 compared to a house for $350,000. There is a Huge difference! And, for less than $600/month (reflective of P&I on a conventional 30 year mortgage loan - contact your lender for full details).

Leominster, MA 01453 Real Estate Market Update Dec 2007

Real Estate Statistics for Leominster, MA 01453 from Leominster's Top Selling Real Estate Agent Every Year since 1999:

Single Family Homes in Leominster are seeing a gain in activity as evidenced by the increased number of sales (both in the MLS as well as other sources) over last year (YTD ending 12/31/07):The average sales price in Leominster has fallen to $266,454 (a decline of 5.62% over 2006's year-end number).

However, as of the same period, the number of single family sales has INCREASED 12.16% to 249 units! (Data source MLSPIN).

One other interesting fact is that we have seen a decline in the number of available Single Family Homes as well in 01453. If we continue with this pattern of Increasing sales and Decreasing inventory levels, prices should stabilize at some point! Yes, it is not the same market as it was in 2004 & 2005, but despite the media's negative outlook, HOMES ARE STILL SELLING!! (Well, at least Single Family Homes are in Leominster - More about the Multi-Family and Condo market later).

IMPORTANT TIP: Rates are Great right now, and with a reasonable good credit rating, financing is available! Be careful not to get caught trying to 'time the market'! Also, don't forget the fundamentals of Economics - 'Supply and Demand'. (Notice that single family sales are increasing in Leominster...)

ZIP Code: 01453Location Characteristics: Located approximately 46 miles from Boston, Leominster is one of the first affordable communities within a 'reasonable' commute. There is great access to all major employment areas via Route 2 and I-190 as well as the MBTA Commuter Rail which stops in Leominster on its way into North Station in Boston! It's A Great Place to Live!