How are things in our local housing market? As you know, real estate is local, and we are generally in better shape than many other parts of the country when it comes to home values, foreclosures, and excess inventory. Yes, house prices are down, but so is inventory. Lower prices, low interest rates, and the stimulus package make buying a home attractive, and the low inventory in our area (including foreclosures) keeps prices from plummeting.

Here's a snapshot of single family listings in 3 local towns as of this past week.

	Acton:	Concord:	Westford:
# Houses actively for sale on 3/11/09	48	83	77
#Houses with Accepted Offers or UAG	30	18	15
# Houses sold in the last 3 months	19	13	16

                                                                                          

It isn't the best time to sell, but houses ARE selling, especially if they are priced right and show well!

 

This is by far the best explanation of "what happened" that I have seen.  This video, "Crisis of Credit Visualized," is short, entertaining, and informative. Enjoy - at least as much as you can while we watch the economy tumble around. http://www.crisisofcredit.com/ (Thanks to Anita Hill, who posted this elsewhere)

 

 

We are still recovering from the ice storm last week and we are now getting the first of 3 snowfalls forecasted for the next week. I'm heading out to a home inspection in a half hour. Those great buys in Florida and Las Vegas are beginning to look very tempting!

I've been dealing with a lot of short sales recently (as have many of you, I am sure!) But a comment made a couple of weeks ago by a seller has stuck in my mind. The seller would love to continue living in his home, so he was willling to rent it from the eventual buyer. His rationale for selling it was, "why keep paying for it when it isn't worth it anymore?" I don't know if he can prove his hardship to the bank for approval of a short sale, but I got the impression it had nothing to do with his ability to pay.

Will we see more foreclosures when banks won't approve the short sale?

What are other agents seeing in terms of hardship vs. wanting to bail out of a declining value as a reason for selling? And how strict are banks in approving short sales?

It would be interesting to see the differences around the country.   

One of the fun things to do in this area is to visit the Colonial Inn in Concord center. On Thursday evenings there is a singer in one of the pub rooms, John Fizsimmons. He is talented and funny. Thrre is somewhat of a regular crowd there, but newcomers are welcome. Try it some time!

 

I thought I would do a series of highlights of Acton, Massachusetts. I've lived here for over 20 years, and sometimes I take things for granted that are special about this place. If anyone is considering a move to this area, Acton has is a lot to offer. Here is the first in the series:

NARA Park

The Acton Recreation department had a great beach party at NARA Park last night. I shared the experience with my 4 year old granddaughter, who loved it. She did the water slides, danced to the live music, then helped me paddle a canoe around the pond. (Note to self: remind her next time not to stand up in the canoe.)

NARA (short for North Acton Recreation Area) park is a local gem. The small man-made pond has a sandy beach, snack bar, and boats (paddle and canoe) for your use. A volleyball net is set up on the beach, too. There are several playing fields and an amphitheater/pavillion.  

In addition to daily swimming, fishing, picnicing, and paddle boating, they have special events all year round.  During the summer there are concerts and movies; in Spetember is "Acton Day", and in winter there is a "Winterfest."

Probably the best known event is the Fourth of July fireworks display.   

"Real estate is local" is so true. I was at a Women's Councel of Realtors conference recently, and heard both tales of woe and great success stories from my colleagues across the country. 

In Massachusetts, house sales are mixed, dependng on what town you are talking about.

Take Acton, for example. Although the median sales price is down by 7.1% year over year, homes are selling faster, from an average of 94 days on market to an average of 77 (-18%).

The spring market is better too, up 10% in the number of single family homes sold May 1 to July 17 this year over last year, still selling in fewer days, although 5.5% below last years median price.

Bottom line: in Acton, properties that show well and are priced right are selling! In neighboring towns of Boxborough and Carlisle, the story is even better: median prices are up for the spring market!

 

 

 

A Smart Car Raffle in Support of Restorative Justice

- an innovative program for youth offenders in Concord, Carlisle, Acton & Boxborough -

 

Raffle ends November 1st

 Visit

www.C4RJ.com and follow links to buy a raffle ticket. $100 each, but only 999 will be sold, and there is an 18-month waiting list (I've heard) for a SmartCar!

Restorative Justice responds to crime by prioritizing the needs of victims, holding youth offenders accountable while helping them understand the impact of their offense, providing support for the families, and offering opportunities for volunteer community members to participate in the process. This summer, C4RJ in close partnership with the Acton Police Department will complete its first Acton case; a brief article on the referring incident first appeared in the Beacon on April 16^th, 2008. A leadership committee with nine local community members, has been instrumental in guiding the implementation of the restorative justice process in Acton-Boxborough.

 

Price Range	Active Listings			Sold Listings 7/18/2007 - 7/17/2008			Sales Per Month	Months of Inventory
	# Listings	% Total	DOM	# Listings	% Total	DOM
$224,900 - $249,999	1	1.16%	43	1	0.65%	7	0.1	12.0
$250,000 - $299,999	2	2.33%	34	1	0.65%	46	0.1	24.0
$300,000 - $349,999	1	1.16%	31	12	7.74%	46	1.0	1.0
$350,000 - $399,999	9	10.47%	92	17	10.97%	99	1.4	6.4
$400,000 - $449,999	7	8.14%	149	17	10.97%	77	1.4	4.9
$450,000 - $499,999	10	11.63%	150	18	11.61%	60	1.5	6.7
$500,000 - $599,999	18	20.93%	110	26	16.77%	58	2.2	8.3
$600,000 - $699,999	12	13.95%	90	24	15.48%	91	2.0	6.0
$700,000 - $799,999	12	13.95%	53	21	13.55%	74	1.8	6.9
$800,000 - $899,999	3	3.49%	164	7	4.52%	88	0.6	5.1
$900,000 - $999,999	6	6.98%	205	8	5.16%	66	0.7	9.0
$1,000,000 - $1,499,999	4	4.65%	74	2	1.29%	80	0.2	24.0
$1,500,000 - $1,999,999	1	1.16%	98	1	0.65%	578	0.1	12.0
	86	100%	108	155	100%	76	12.9	6.7

Beautiful home on Pope Road on Concord line with 4.4 acres of privacy, one of Boston Magazine's 2007 "Absolute best streets." Well maintained by original owners: newer roof, driveway, carpets, paint, and garage doors, plus refinished hardwood floors. Open, flowing floor plan throughout, with lots of windows and sliders for light and easy access to the outdoors. Multi-level decks and a spacious, landscaped yard. Acton schools, Concord address and phone.

             

 

    

Spacious home, 4 bedrooms, 3.5 baths, finished walk-out lower level, central A/C. Nestled in a country setting,  next to a beautiful horse farm.

 

 

For details and more pictures: www.debn.net