Needham Heights (Needham, MA)
Needham Heights (Needham, MA) Real Estate News
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What is a Housing Bubble? Is One Forming?
Pat Laracy Baker, Realtor, Green, ABR, Needham, Massachusetts (Key Advantage Realty )
What is a Housing Bubble? Is One Forming? Real Estate with  Pat BakerGet in Touch What is a Housing Bubble? Is One Forming?July 7, 2015 For Buyers, For SellersFacebook Twitter LinkedIn Google+ PrintThe recent talk of Greece and its financial challenges has some questioning whether the U.S. could also return to the crisis we experienced in 2008. Some are looking at the rise in real estate values and wondering whether we are in the middle of another housing price bubble. What actually is a price bubble? Here is the definition according to Jack M. Guttentag, Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania: “A price bubble is a rise in price based on the expectation that the price will rise. Sooner or later something happens to erode confidence in continued price increases, at which point the bubble bursts and prices drop. What makes it a price bubble is that the cause of the price increase is an expectation that the price will increase, which sooner or later must reverse itself.” Does Professor Guttentag believe we are in another housing bubble? In a recent article, he explained: “My view is that we are a long way from another house price bubble. Home buyers, lenders, investors and regulators now understand that a nationwide decline in house prices is possible -- because we recently lived through one.” What are home prices doing? Though home values are continuing to appreciation, the acceleration of the increases has slowed to year-over-year numbers which reflect a healthy housing market. Here is a chart showing year-over-year appreciation since January of last year: We can see that appreciation rates have dropped from double digit numbers to more normal rates of 5% or lower. Bottom Line We think Nick Timiraos of the Wall Street Journal put it best in a recent tweet: “Predictions of a new national home price bubble look unfounded for now, according to data.”You might also enjoy reading... Homeownership Still The American Dream The Impact of Rising Prices on Home Appraisals Pending Home Sales Reach Highest Mark In 9 Years! First-Time Homebuyers Lead the Way in MayPost navigation #1 Reason to Sell Your House Now! Pat Baker Key Advantage Realty Needham, MA (617) 435-3471 Experienced real estate agent intimately acquainted with the Needham, MA and the MetroWest area of Boston, MA. Specializing in home sales, buyer purchases, condominiums, 2nd home purchases,investment properties, and rentals Visit Website Get in Touch All information deemed reliable but not guaranteed. The opinions expressed in this article are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed in this article as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keeping Current Matters, Inc. does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involved some degree of risk. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on information contained in this article. Powered by Pat Baker, Realtor, ABR Key Advantage Realty 617-435-3471 pbaker@keyadvantagerealty.com http://www.patannbaker.com https://www.linkedin.com/in/patbaker
Hughes
#1 Reason to Sell Your House Now!
Pat Laracy Baker, Realtor, Green, ABR, Needham, Massachusetts (Key Advantage Realty )
#1 Reason to Sell Your House Now! Real Estate with  Pat Baker Get in Touch #1 Reason to Sell Your House Now!July 6, 2015 For SellersFacebook Twitter LinkedIn Google+ PrintIf you are one of the many homeowners out there who are debating putting their house on the market this year, don’t miss out on the great opportunity you have right now! The latest Existing Home Sales Report from The National Association of Realtors (NAR), reveals that the inventory of homes for sale has dropped to a 5.1-month supply. Historically, a 6-month supply is necessary for a ‘normal’ market, explained below: There are more buyers that are ready, willing and able to buy now, than there has been in years! The supply of homes for sale is not keeping up with the demand of these buyers. Bottom Line Home prices are appreciating in this seller’s market. Listing now will give you the most exposure to buyers who will be competing against each other to buy your house.You might also enjoy reading...Homeownership Still The American Dream The Impact of Rising Prices on Home Appraisals Pending Home Sales Reach Highest Mark In 9 Years! Two Graphs That Scream List Your House TodayPost navigation Homeownership Still The American Dream [INFOGRAPHIC] Pat Baker Key Advantage Realty Needham, MA (617) 435-3471 Experienced real estate agent intimately acquainted with the Needham, MA and the MetroWest area of Boston, MA. Specializing in home sales, buyer purchases, condominiums, 2nd home purchases,investment properties, and rentals Visit Website Get in Touch
 
All information deemed reliable but not guaranteed. The opinions expressed in this article are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed in this article as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keeping Current Matters, Inc. does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involved some degree of risk. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on information contained in this article. Powered by Pat Baker, Realtor, ABR Key Advantage Realty 617-435-3471 pbaker@keyadvantagerealty.com http://www.patannbaker.com https://www.linkedin.com/in/patbaker
Hughes
Mixed Good News from the Norfolk County Registry of Deeds
Pat Laracy Baker, Realtor, Green, ABR, Needham, Massachusetts (Key Advantage Realty )
Mixed Good News from Norfolk County Registry of Deeds‏ Prices are up but inventory still lagged in May 2015. Both residential and commercial have an uptick in sale price. There has been a 5% increase year over year.Total volume of commercial and residential sales also showed an uptick, jumping 2% to $604.6 million."
 
Norfolk County Registry of Deeds
 
Register O'Donnell Reports May Brings Mixed Real Estate ResultsContinuing a theme seen over the past few months, Register of Deeds William P. O'Donnell reported that reduced inventory activity in Norfolk County has had a mixed effect on the real estate market during the month of May, 2015.Register O'Donnell noted, "What we have consistently seen throughout the late winter and spring months is a decrease of real estate inventory in Norfolk County. May 2015 figures continues to reflect that slide with the total number of commercial and residential real estate sales slightly down by 2.6%, 1,451 compared to 1,492 in May 2014."However, there was some silver lining in May's housing data. While the total number of sales fell, the average sale price of commercial and residential property continued its upward trend, increasing 5% year over year to $652,981. Total volume of commercial and residential sales also showed an uptick, jumping 2% to $604.6 million."Another positive indicator according to the Register was the continued strong performance of the mortgage market in Norfolk County. He noted that during May 2015, the total number of mortgages recorded increased by 26% compared to the same time last year. Total mortgage indebtedness also increased by 46%. "The mortgage figures clearly reflect increased consumer confidence. Homeowners are showing an increased willingness to take advantage of equity in their homes to finance home improvements and other critical needs," stated Register O'Donnell.With regard to other housing data, Homestead recordings, which provide limited protection against the forced sale of an individual's primary residence up to $500,000, decreased 1% from May 2014 to May 2015. A total of 997 Homesteads were recorded compared to 1,007 in May 2014. Information on how to apply for the Homestead Act can be found on the Registry's website at www.norfolkdeeds.org.Foreclosure activity worsened in Norfolk County during May, 2015. Notices to Foreclose Mortgage recordings totaled 63 in May compared to 48 in May 2014. In addition, 25 foreclosure deeds were recorded in May compared to 13 in May 2014, a significant 92% increase. Commenting on the foreclosure statistics, O'Donnell stated, "There is no way to sugarcoat these numbers. Clearly, the economic expansion experienced in eastern Massachusetts these past few years has not lifted all boats. Some of our neighbors are in crisis. The Registry continues to partner with Quincy Community Action Programs at (617) 479-8181 x-376 and Neighbor Works Southern Mass at (508) 598-0950 to help anyone who has received a Notice of Foreclosure from a lender. Another option for consumers is to call the Massachusetts Attorney General's HomeCorps program at (617) 573-5333."Register O'Donnell concluded, "The total real estate sales figure for May 2015 was disappointing. With that said, I continue to be cautiously optimistic that we will see an uptick in real estate inventory resulting in an increased number of sales. Norfolk County continues to be a very desirable location for individuals and their families to live and work."To learn more about these and other Registry of Deeds events and initiatives, "like" us at facebook.com/NorfolkDeeds or follow us on twitter.com @NorfolkDeeds.The Norfolk County Registry of Deeds, located at 649 High Street, Dedham, is the principal office for real property in Norfolk County. The Registry is a resource for homeowners, title examiners, mortgage lenders, municipalities and others with a need for secure, accurate, accessible land record information. Residents in need of assistance can contact the Registry of Deeds Customer Service Center at (781) 461-6101, or on the web at www.norfolkdeeds.org. Register William P. O'DonnellNorfolk County Registry of Deedsemail: registerodonnell@norfolkdeeds.orgphone: 781-234-3336 web: http://www.norfolkdeeds.org
 
 
   
Pat Baker, Realtor, ABR Key Advantage Realty 617-435-3471 pbaker@keyadvantagerealty.com http://www.patannbaker.com https://www.linkedin.com/in/patbaker
Hughes
The #1 Reason to Buy Right Now – THE MONEY!!
Pat Laracy Baker, Realtor, Green, ABR, Needham, Massachusetts (Key Advantage Realty )
The #1 Reason to Buy Right Now – THE MONEY!!Real Estate with  Pat Baker Get in Touch The #1 Reason to Buy Right Now – THE MONEY!!June 4, 2015 First Time Home Buyers, For BuyersFacebook Twitter LinkedIn Google+ PrintPeople often ask whether they should buy a home now or wait. Recently released data suggests that waiting may not make sense as prices seem to again be on the rise. Let’s take a look at some of the data and commentary on the subject: Ed Stansfield, chief property economist at Capital Economics: “The current tightness of supply conditions would normally be consistent with much faster price growth. The continued steady growth in home sales that we expect this year will only add to this upward pressure on prices.” Case Shiller Home Price Index “The S&P/Case-Shiller U.S. National Home Price Index, covering all nine U.S. census divisions, recorded a 4.1% annual gain in March 2015 … with a 0.8% increase for the month.” Anand Nallathambi, CEO of CoreLogic “All signs are pointing toward continued price appreciation throughout 2015… Tight inventories, job growth and the impact of demographics and household formation are pushing price levels in many states toward record levels.” Danielle Hale, Director of Housing Statistics at NAR “Even without further acceleration, the pace of price growth remains too high. Strong buyer demand and low inventories coupled with relatively low new construction are helping to push prices up, keeping the housing market tipped in favor of sellers.” FHFA Principal Economist Andrew Leventis "The first quarter saw strong and widespread home price growth throughout most of the country. Home prices are now, on average, roughly 20 percent above where they were three years ago. This run-up has been historically exceptional and is particularly notable in light of the limited household income growth and modest rate of overall inflation observed during that same time period." Bottom Line If you are planning on buying a home in the near future, waiting probably doesn’t make sense from a purely pricing standpoint.You might also enjoy reading... Guess Where Residential Rents are Heading? Buying a Home is 35% Less Expensive than Renting! You Want to Raise My Rent How MuchGuess Where Residential Rents are Heading? Mortgage Rates Over The Last 40 Years [INFOGRAPHIC] Pat Baker Key Advantage Realty Needham, MA (617) 435-3471 Experienced real estate agent intimately acquainted with the Needham, MA and the MetroWest area of Boston, MA. Specializing in home sales, buyer purchases, condominiums, 2nd home purchases,investment properties, and rentals Visit Website Get in Touch Powered by Pat Baker, Realtor, ABR Key Advantage Realty 617-435-3471 pbaker@keyadvantagerealty.com http://www.patannbaker.com https://www.linkedin.com/in/patbaker
Hughes
5 Reasons You Shouldn’t For Sale By Owner
Pat Laracy Baker, Realtor, Green, ABR, Needham, Massachusetts (Key Advantage Realty )
5 Reasons You Shouldn’t For Sale By Owner Real Estate with  Pat BakerGet in Touch 5 Reasons You Shouldn’t For Sale By OwnerJune 2, 2015 For Sellers, FSBO'sFacebook Twitter LinkedIn Google+ PrintIn today's market, with homes selling quickly and prices rising some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers. Here are five reasons: 1. There Are Too Many People to Negotiate With Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:The buyer who wants the best deal possible The buyer’s agent who solely represents the best interest of the buyer The buyer’s attorney (in some parts of the country) The home inspection companies which work for the buyer and will almost always find some problems with the house. The appraiser if there is a question of value2. Exposure to Prospective Purchasers Recent studies have shown that 88% of buyers search online for a home. That is in comparison to only 21% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you? 3. Results Come from the Internet Where do buyers find the home they actually purchased?43% on the internet 9% from a yard sign 1% from newspaperThe days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial. 4. FSBOing has Become More and More Difficult The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 9% over the last 20+ years. 5. You Net More Money when Using an Agent Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission. Studies have shown that the typical house sold by the homeowner sells for $208,000 while the typical house sold by an agent sells for $235,000. This doesn’t mean that an agent can get $27,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense. Bottom Line Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.You might also enjoy reading... 5 Reasons You Shouldn’t For Sale By Owner Buyer Demand Exceeds Housing Supply If You are Thinking of Selling, Now’s the Time “Lagging Supply” Leads to Slowdown in SalesPost navigation Today Kicks Off National Homeownership Month! Pat Baker Key Advantage Realty Needham, MA (617) 435-3471 Experienced real estate agent intimately acquainted with the Needham, MA and the MetroWest area of Boston, MA. Specializing in home sales, buyer purchases, condominiums, 2nd home purchases,investment properties, and rentals Visit Website Get in TouchCategories Powered by Pat Baker, Realtor, ABR Key Advantage Realty 617-435-3471 pbaker@keyadvantagerealty.com http://www.patannbaker.com https://www.linkedin.com/in/patbaker
Hughes
Buyer Demand Exceeds Housing Supply [INFOGRAPHIC]
Pat Laracy Baker, Realtor, Green, ABR, Needham, Massachusetts (Key Advantage Realty )
Real Estate with  Pat Baker Get in TouchBuyer Demand Exceeds Housing Supply [INFOGRAPHIC]May 29, 2015 For Buyers, For Sellers, InfographicsFacebook Twitter LinkedIn Google+ Print Some Highlights:Inventory Levels are still below the 6.0 month level necessary for a normal market Home Prices have experienced year-over-year gains for 38 straight months Home sold faster than any time since June 2013, in just 39 daysPost navigation If You are Thinking of Selling, Now’s the Time Pat Baker Key Advantage Realty Needham, MA (617) 435-3471 Experienced real estate agent intimately acquainted with the Needham, MA and the MetroWest area of Boston, MA. Specializing in home sales, buyer purchases, condominiums, 2nd home purchases,investment properties, and rentals Visit Website Get in Touch Powered by Pat Baker, Realtor, ABR Key Advantage Realty 617-435-3471 pbaker@keyadvantagerealty.com http://www.patannbaker.com https://www.linkedin.com/in/patbaker
Hughes
Homeownership as an Investment: The Role of Price Appreciation
Pat Laracy Baker, Realtor, Green, ABR, Needham, Massachusetts (Key Advantage Realty )
Real Estate with  Pat Baker Get in Touch Homeownership as an Investment: The Role of Price AppreciationMay 27, 2015 Housing Market Updates, PricingFacebook Twitter LinkedIn Google+ PrintWe recently posted on the results from the latest Home Price Expectation Survey (HPES) showing where residential home prices are headed over the next five years. Today, we want to show you what the results of the report could mean to you. A good portion of every family’s wealth comes from the equity in the home they live in. As the value of their home (an asset) increases so does their equity. Let’s look at a possible case scenario based on the latest HPES. Here is a chart showing the survey’s projections on annual appreciation over the next five years: We then looked at the five-year impact this would have on the equity of a family that purchased a home in January for $250,000: Their family wealth (based on increased equity) would increase by $47,772 over those five years. Bottom Line If you don’t yet own, perhaps you should be thinking about purchasing. If you already own, maybe it’s time to move up to enjoy your dream home and also ride the increase in equity of the larger asset.Post navigation “Lagging Supply” Leads to Slowdown in Sales Pat Baker Key Advantage Realty Needham, MA (617) 435-3471 Experienced real estate agent intimately acquainted with the Needham, MA and the MetroWest area of Boston, MA. Specializing in home sales, buyer purchases, condominiums, 2nd home purchases,investment properties, and rentals Visit Website Get in TouchCategories Categories
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