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'.
Monday, February 11, 2008
Thursday, January 24, 2008
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.
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.
Wednesday, January 23, 2008
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).
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).
Tuesday, January 15, 2008
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!
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!
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