TAUNTON MARKET REPORT - JUNE 2008

Sold Listings

Price Range	# of Listings	Avg. Days on Market	Average Sale Price		Average List Price	SP:LP Ratio	Average Orig Price	SP:OP Ratio
$0 - $49,999	0	0	$0		$0	0	$0	0
$50,000 - $99,999	1	198	$88,500		$108,500	82	$149,900	59
$100,000 - $149,999	2	13	$137,500		$145,700	94	$145,700	94
$150,000 - $199,999	5	164	$172,200		$176,450	98	$188,360	92
$200,000 - $249,999	10	114	$232,740		$241,030	97	$259,520	90
$250,000 - $299,999	10	117	$266,700		$274,730	97	$286,820	93
$300,000 - $349,999	6	137	$327,167		$331,033	99	$349,517	94
$350,000 - $399,999	3	255	$373,333		$386,600	97	$412,933	91
$400,000 - $449,999	0	0	$0		$0	0	$0	0
$450,000 - $499,999	0	0	$0		$0	0	$0	0
$500,000 - $599,999	0	0	$0		$0	0	$0	0
$600,000 - $699,999	0	0	$0		$0	0	$0	0
$700,000 - $799,999	0	0	$0		$0	0	$0	0
$800,000 - $899,999	0	0	$0		$0	0	$0	0
$900,000 - $999,999	0	0	$0		$0	0	$0	0
$1,000,000 - $1,499,999	0	0	$0		$0	0	$0	0
$1,500,000 - $1,999,999	0	0	$0		$0	0	$0	0
$2,000,000 - $2,499,999	0	0	$0		$0	0	$0	0
$2,500,000 - $2,999,999	0	0	$0		$0	0	$0	0
$3,000,000 - $3,999,999	0	0	$0		$0	0	$0	0
$4,000,000 - $4,999,999	0	0	$0		$0	0	$0	0
$5,000,000 - $9,999,999	0	0	$0		$0	0	$0	0
$10,000,000 - $99,999,999	0	0	$0		$0	0	$0	0
Total Properties	37	Avg. 134	$251,403		$259,074	97	$275,200	91
Lowest Price: $88,500 Median Price: $252,000 Highest Price: $395,000 Average Price: $251,403 Total Market Volume: $9,301,900 This is only for single family homes and does not show multi family or condo sales.

Bristol County Home Sale Averages - June 2008

Bristol County Sold Real Estate Statistics - June 2008 These are the sales averages for the month of June, 2008  (June 1, 2008 - June 30, 2008) in Bristol County Massachusetts. Check back every month for updated sales statistics or visit http://www.BerkleyMass.com/ to view my sold property database.
Single Family
Number Sold:	291
Average List:	$320,550.00
Average Sold:	$307,077.00
Market Time:	145 Days
Multi-Family
Number Sold:	70
Average List:	$210,079.00
Average Sold:	$193,475.00
Market Time:	147 Days
Condominium
Number Sold:	46
Average List:	$207,084.00
Average Sold:	$199,034.00
Market Time:	183 Days
Land
Number Sold:	14
Average List:	$181,864.00
Average Sold:	$159,000.00
Market Time:	259 Days
Click Here to Search Bristol County Sold Real Estate Listings

BERKLEY - MARKET REPORT JUNE 2008

Berkley, MA

Total Market Report is provided to give you an overall picture of the current market conditions.The following report is for single family homes sold in Berkley from May 1, 2008- May 30,2008.

Single Family Homes

Number of Homes on Market              49 (down 3 from last report)

Average Days on the Market             175!!!!!!!!

Number of Homes U.A.G                 1

Average Price of U.A.G. Homes        $449,900

Number of Homes Sold                    4

Average Sold Price                         $334,250
                            
                                                             ~$317,800  As of June 12, 2008
                                                                                 ~$418,333  As of May 1, 2008
                                                                                ~$286,833  As of April 8, 2008            
                                                                                ~$180,000 As of March 8, 2008            
                                                                                 ~$344,250 As of  February 7, 2008            
                                                                                 ~$349,000 As of January 8, 2008             
                                                                                 ~$262,442  As of December 9, 2007
                                                                                ~$243,125 As of November 7, 2007       
                                                                                ~$645,500 As of October 4, 2007 
                                                                                ~$331,000 As of Sept.1, 2007
                                                                                 ~$349,073 AS OF AUG. 4, 2007 
                                                                                 ~$356,473 AS OF JUNE 24, 2007


Average Asking Price                       $406,529

Lowest SALE Price                            $269,500

Highest SALE Price                           $375,000

MY LAST MARKET UPDATE WAS June 12 AND THE AVERAGE SALE PRICE WAS $317,800. 

The number of home sales is remaining steady.Right now there is approx. 10 months worth of inventory on the market, which is still saying quite strongly it is a Buyer's Market. What that means is, if no more homes came on the market and all the current homes stayed on the market until they sold it would take 10 months for all the homes to be sold, assuming that they are all priced correctly.  It is a widely accepted rule that if we have less than 6 months but more than 3 months worth of inventory we are in a neutral market.  A neutral market means that home prices are in line with affordability and are being absorbed at a moderate pace.  

Unfortunately, we have seen a sharp increase in the absorption rate in the past couple of months.  The cost of fuel and other economic problems have negatively impacted the housing market. 

How does this effect you?

Better your odds for a more timely sale by pricing your home ahead of the curve! Pricing it AT the curve in a declining market will put you in line to sell on the 10th month at a lower price than what you would have received had it been priced competitively in the beginning. Remember: Time is NOT on your side in a declining market.

Price it ahead of the curve and you will open your home up to the largest pool of potential buyers which will sharply lessen your market time AND increase your bottom line! I would rather see any seller get multiple offers to choose from than no offers at all.

Call me for a competent, accurate analysis of your home. 

Visit http://www.berkleymass.com/ for all your Bristol County Real Estate Needs!

Bobbie Files
REALTOR
Keller Williams Realty
508-238-5000 x.296  Office
508-789-0217  Direct
bobbiefiles@kw.com  Email

 

BERKLEY - MARKET REPORT MAY 2008

Berkley, MA

Total Market Report is provided to give you an overall picture of the current market conditions.The following report is for single family homes sold in Berkley from May 1, 2008- May 30,2008.

Single Family Homes

Number of Homes on Market              52 (up 4 from last report)

Average Days on the Market             156

Number of Homes U.A.G                 3

Average Price of U.A.G. Homes        $524,633

Number of Homes Sold                    5

Average Sold Price                         $317,800 
                      
                                                                                 ~$418,333  As of May 1, 2008
                                                                                ~$286,833  As of April 8, 2008            
                                                                                ~$180,000 As of March 8, 2008            
                                                                                 ~$344,250 As of  February 7, 2008            
                                                                                 ~$349,000 As of January 8, 2008             
                                                                                 ~$262,442  As of December 9, 2007
                                                                                ~$243,125 As of November 7, 2007       
                                                                                ~$645,500 As of October 4, 2007 
                                                                                ~$331,000 As of Sept.1, 2007
                                                                                 ~$349,073 AS OF AUG. 4, 2007 
                                                                                 ~$356,473 AS OF JUNE 24, 2007


Average Asking Price                       $411,233

Lowest SALE Price                            $287,000

Highest SALE Price                           $372,000

MY LAST MARKET UPDATE WAS APRIL 8 AND THE AVERAGE SALE PRICE WAS $418,333. 

The number of home sales is remaining steady.Right now there is approx. 6 1/2 months worth of inventory on the market, which is still saying it is a Buyer's Market. What that means is if no more homes came on the market and all the current homes stayed on the market until they sold it would take 6 1/2 months for all the homes to be sold, assuming that they are all priced correctly.  It is a widely accepted rule that if we have less than 6 months but more than 3 months worth of inventory we are in a neutral market.  A neutral market means that home prices are in line with affordability and are being absorbed at a moderate pace.  If we see several consecutive months with lower than 6 months of inventory we can hesitantly say that we have hit the bottom and are now at the cost to affordability corrected pricing and can finally start to breathe again. With the spring market finally upon us and the Federal Reserve taking strong steps to keep the interest rates down we may be nearing the bottom of the pricing. How does this effect you?

Better your odds for a more timely sale by pricing your home ahead of the curve! Pricing it AT the curve in a declining market will put you in line to sell on the 6th month at a lower price than what you would have received had it been priced competitively in the beginning. Remember: Time is NOT on your side in a declining market.

Price it ahead of the curve and you will open your home up to the largest pool of potential buyers which will sharply lessen your market time AND increase your bottom line! I would rather see any seller get multiple offers to choose from than no offers at all.

Call me for a competent, accurate analysis of your home. 

Visit http://www.berkleymass.com/ for all your Bristol County Real Estate Needs!

Bobbie Files
REALTOR
Keller Williams Realty
508-238-5000 x.296  Office
508-789-0217  Direct
bobbiefiles@kw.com  Email

BERKLEY - MARKET REPORT APRIL 2008

Berkley, MA

Total Market Report is provided to give you an overall picture of the current market conditions.The following report is for single family homes sold in Berkley from April 1, 2008- April 30,2008.

Single Family Homes

Number of Homes on Market              48 (no change since last report)

Average Days on the Market             153

Number of Homes U.A.G                 3

Average Price of U.A.G. Homes        $323,133

Number of Homes Sold                    3

Average Sold Price                          $418,333
                                                             ~$286,833  As of April 8, 2008            
                                                                                ~$180,000 As of March 8, 2008            
                                                                                 ~$344,250 As of  February 7, 2008            
                                                                                 ~$349,000 As of January 8, 2008             
                                                                                 ~$262,442  As of December 9, 2007
                                                                                ~$243,125 As of November 7, 2007       
                                                                                ~$645,500 As of October 4, 2007 
                                                                                ~$331,000 As of Sept.1, 2007
                                                                                 ~$349,073 AS OF AUG. 4, 2007 
                                                                                 ~$356,473 AS OF JUNE 24, 2007


Average Asking Price                       $438,387

Lowest SALE Price                            $370,000

Highest SALE Price                           $465,000

MY LAST MARKET UPDATE WAS APRIL 8 AND THE AVERAGE SALE PRICE WAS $286,833. 

The number of home sales has stayed steady.Right now there is approx. 8 months worth of inventory on the market, which is still strongly saying it is a Buyer's Market. What that means is if no more homes came on the market and all the current homes stayed on the market until they sold it would take 8 months for all the homes to be sold, assuming that they are all priced correctly.  With the spring market finally upon us and the Federal Reserve taking strong steps to keep the interest rates down we may be nearing the bottom of the pricing. How does this effect you?

Better your odds for a more timely sale by pricing your home ahead of the curve! Pricing it AT the curve in a declining market will put you in line to sell on the 8th month at a lower price than what you would have received had it been priced competitively in the beginning. Remember: Time is NOT on your side in a declining market.

Price it ahead of the curve and you will open your home up to the largest pool of potential buyers which will sharply lessen your market time AND increase your bottom line! I would rather see any seller get multiple offers to choose from than no offers at all.

Call me for a competent, accurate analysis of your home.  We are in a market of "Equity Protection" and your agent needs to know and understand that. I DO!!!

Visit http://www.berkleymass.com/ for all your Bristol County Real Estate Needs!

Bobbie Files
REALTOR
Keller Williams Realty
508-238-5000 x.296  Office
508-789-0217  Direct
bobbiefiles@kw.com  Email

 

What EXACTLY IS your job as a Buyers Agent???

Several days ago I posted a blog regarding short sales and the fact of advertising it in MLS. In my area we are required to notify prospective buyers and their agents about a home being a short sale. Why???? An agent has the right and the obligation to know and disclose that to a prospective purchaser, but does the general public have that same right???

I want to know what is the Buyers agents opinion of their responsibility.  Isn't it their job to research homes prior to setting up the showings to make sure it can meet their buyers expectations or needs? There are many reasons homes may need a delayed closing, not just a short sale, that does not need to be disclosed. Shouldn't a buyers agent call and ask prior to showing the home to see if it will fit into their buyers' schedule?

What about other issues.  In MA we are not required to disclose the presence of a Level 3 sexual predator. as a listing agent, that resides in the neighborhood so we do NOT look for that information. Shouldn't that be the job of a Buyers Agent?

I run into time and time again agents that say they are working for the "Buyer" but do no research or do any homework in regards to the home or the neighborhood.  They feel there responsibility ends when finding a home that their buyer likes and fits into their price range.  WHAT?!?!?!

A buyer can do that on their own.

As we all know Real Estate is local.  I do not work with buyers that want to look at homes out of my area, not my licensing area but out of my area of knowledge, I refer them.  When I get calls from agents as "buyer's agents" from areas 30-100 miles from this area wanting to show my listings I am shocked. Worse than that they ask NO questions prior to the showing to the sellers motivation or needs.

What EXACTLY is a buyer agents job???

Our single office is in the top 1% Nationally by RIS Media

I just wanted to take a moment and let people know just how strong the office I am affiliated with is! This is also a statement to show how skilled, competent, and aggressive the agents affiliated with this office are!!

RIS Media's Power Broker Report named Keller Williams Realty Easton, MA as one the top 500 offices in the USA. With over 50,000 real estate offices,  being in the top 1% Nationally shows we are very strong in knowledge , experience, local trends and getting it done for consumers.

Consumers do not need to pay extra to get the best!!

Bobbie Files
REALTOR
www.BerkleyMass.com

 

Question on time allowed to close a short sale???

I am currently dealing with ASC in a short sale process.  They are slower in response than other equally as large and as reputable lenders.  In my area ASC is handling all the prelimanery work for Wells Fargo.  Once it was put in the hands of a loss mitigator at WF the ball did start moving more quickly.  It took almost 6 weeks from the offer being presented to finally getting a loss mitigator.  I am finding this l.m. to be rather unrealistic on the timing aspect.  I demand that all my shortsale listings close 30 days from the formal written offer approval which is a standard and acceptable time period.  This l.m. approves the loan on the 10th sends it in writing on the
18th and demands an April 30th closing!!!  This is an impossible feat in my area. It takes over 2 weeks to get an appt. for a smoke detector inspection. 

Any hinters on how to deal with this???

A nice custom home that is NOT a short sale!!!!

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The seller is broke - FIRE SALE!!!

Why do short sales get "advertised" in MLS?  I understand that the buyer needs to be notified of the situation  prior to an offer, but putting the remark in MLS is like placing a scarlet letter on the home and the seller.  The "subject to 3rd party approval" comment is screaming that the sellers are in financial trouble.  Shouldn't that be considered personal information?

I absolutely continue to market and solicit for additional offers without approval of ANY offer from my sellers until the bank approves the short sale.  All buyers and agents are notified in writing of this upfront.

My concern is that by placing the remark we are devaluing the property more than the weakened market is AND we are giving away information on a clients financial situation to people who have no right to know.

The MLS system has us and sellers cornered by there foolish, dated rules.  Home owners should be entitled to some level of privacy and pride until a party that is more than just a tire kicker is interested in purchasing.

Buyers absolutely need to be notified - preferably in writing - prior to making an offer, but why at just the showing???

I have successfully closed MANY shortsale transactions for sellers and know how to handle the details competently and skillfully.

Bobbie Files
www.BerkleyMass.com