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buyer knowledge: MA home buying 101: avoid common mistakes - 01/27/09 02:43 PM
Many common mistakes that buyers of real estate make can usually be avoided. Here are a few mistakes many buyers make, and some ways to avoid them.
#1. Buying before selling. It sounds simple, but the lure of that new house can have an overwhelming effect on your finances. Sell the home you currently own before buying a new one. Sure, bridge loans can be obtained, but in the current buyers’ market, who knows how long your home will be on the market before someone purchases it? Unless you are able to pay cash for that new place, wait until you … (3 comments)
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buyer knowledge: Pending home sales down across country; Northeast no exception - 01/06/09 12:40 PM
The National Association of Realtors® reported today that their forward-looking statistic, “Pending Home Sales Index“, based on contracts signed on previously owned homes, is down nationwide. With the economy going down the drain, huge job losses in many sectors, and consumer confidence very low, this number is no surprise.
Here in the Northeast, the numbers are the worst. The index dropped 7.2 percent to 63.2 in November and is 14.6 percent below a year ago.
Is there light at the end of the tunnel? Perhaps. The NAR’s “housing affordability index”, a complicated relationship between prices, mortgage rates, and family income, is … (2 comments)
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buyer knowledge: Hammerin' Hank's Hedge Fund: another HPHF update - 10/15/08 06:28 PM
It appears our economy is in a bit of a spot right now. No kidding, right? We learned over the past few days that our U.S. banking system has effectively been nationalized. How did this happen? Hammerin' Hank, of course.
Paulson conspired worked with his Wall Street buddies, the Federal Reserve, and the FDIC before deciding how to use the first $250 billion that we recently invested into the HPHF.
What do you mean, 'nationalized'? The always insightful folks at the Wall Street Journal wrote an informative blog post describing what actually happened early this week. Basically, Hank bought a bunch … (2 comments)
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buyer knowledge: July home sales in Massachusetts and on the North Shore - 09/04/08 10:38 AM
The following numbers come from the Massachusetts Association of REALTORS® (MAR). Surprise surprise, prices are down as are the number of units sold. It is interesting to note that condo prices statewide dropped a very small amount on average. The towns north of Boston were hit a little harder, with both single-family and condo prices dropping 12.1% versus a year ago. As always, real estate is local, and some towns are very insulated from the effects of these price drops. That said, it is quite a buyer's market right now, with plenty of inventory and lower prices. When this whole thing … (0 comments)
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buyer knowledge: Caveat Emptor: Getting a mortgage - 08/19/08 11:36 AM
Caveat Emptor - Buyer Beware! While this rule usually applies to buying a home in Massachusetts, it also can apply to applying for and obtaining a loan on your home purchase. Boston Business Journal recently reported on a temporary cease-and-desist order taken by the Massachusetts Division of Banks against a company based in New Hampshire that also operates in Mass.
Here are the details, as well as the company involved,
"The order against The Mortgage Specialists Inc. of New Hampshire was taken after examinations by the Division of Banks revealed it had knowingly inflated borrower income and falsified documents to secure … (0 comments)
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buyer knowledge: When will housing prices improve? - 06/11/08 03:35 PM
Home sales are way down, that much we know. Sales closing in March of 2008 were down almost a third from the same time frame a year earlier. How come? Without knowing all the facts, one would first point to the struggling economy. Recession fears are all over the news right now. Is that the problem? No. Boston’s economy continues to improve, and although there have been some layoffs in the financial services industry, job growth in our area remains steady. Popular sectors still hiring and growing in the Boston area are high tech and biotech firms. In fact, the economy … (4 comments)
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John Morrison - Boston area real estate - Exclusive Buyer's Agent, CBR
Ipswich,
MA
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Buyer's Choice Realty
Address: 162 Main Street, Wenham, MA, 01984
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