Real Estate News from Popular Massachusetts Cities

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Real Estate News from Popular Massachusetts Counties

By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Comments 4
Why Short Sales Are Anything But Short  “Short sales” may have one of the most deceiving names in real estate. Any client who is undertaking the purchase of a short sale property will ask, “Why is this taking so long?” Short sales generally happen due to lapsed payments on a mortgage. In the short sale, the owners take a loss on the property, but it saves them from being foreclosed on by the bank. Many of these sales are circumstantial by divorce, or a sudden change in job. The seller asks the bank to take less money than the amount owed on the house in a short sale transaction.    If You’re Buying A Short Sale Property   If you have made an offer and the seller accepts it, your dealings are far from over in a short sale. The seller’s bank needs to approve the sale. Since the bank is lo...
By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Comments 3
Are Interest Rates Expected to Rise Over the Next Year? So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there’s a good chance rates will increase later this year and going into 2022, ultimately making it more expensive to borrow money for a home loan. Here’s a look at what several experts have to say. Danielle Hale, Chief Economist, realtor.com: “Our long-term view for mortgage rates in 2021 is higher. As the economic outlook strengthens, thanks to progress against coronavirus and vaccines plus a dose of stimulus from the government, this pushes up expectations for economic growth . . . .” Lawrence Yun, Chief Economist, National Association of Realtors (NAR): “In 2021, I think rates will be similar o...
By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Comments 3
Americans Find the Nonfinancial Benefits of Homeownership Most Valuable Homeownership is a foundational part of the American Dream. As we look back on more than a year of sheltering in our homes, having a place of our own is more important than ever. While financial benefits are always a key aspect of homeownership, today, homeowners rank the nonfinancial and personal benefits with even higher value. Recently, two national surveys revealed the reasons homeownership is such an important part of life. The top three personal benefits of homeownership noted by respondents in Unison’s 2021 report on The State of the American Homeowner are: 91% - feel secure, stable, or successful owning a home 70% - feel emotionally attached to the homes that have kept them safe over the past year 51% - call...
By Westchester Modular Homes Construction Corp, Westchester, Putnam, Rockland, Dutchess, Orange
(Westchester Modular Homes Construction Corp)
Comments 1
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Comments 1
Why Waiting to Buy a Home Could Cost You a Small Fortune Many people are sitting on the fence trying to decide if now’s the time to buy a home. Some are renters who have a strong desire to become homeowners but are unsure if buying right now makes sense. Others may be homeowners who are realizing that their current home no longer fits their changing needs. To determine if they should buy now or wait another year, they both need to ask two simple questions: Do I think home values will be higher a year from now? Do I think mortgage rates will be higher a year from now? Let’s shed some light on the answers to these questions. Where will home prices be a year from now? If you average the most recent projections from the major industry forecasters, the expectation is home prices will increas...
By Westchester Modular Homes Construction Corp, Westchester, Putnam, Rockland, Dutchess, Orange
(Westchester Modular Homes Construction Corp)
Comments 0
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Comments 1
Should I Buy Now or Wait?  Some Highlights If you’re thinking that waiting a year or two to purchase a home might mean you’ll save some money, think again. Mortgage interest rates are currently very low, but experts across the board are forecasting increases in both home prices and interest rates. Buying a home now means you’ll spend less in the long run. Let’s connect to put your homebuying plans in motion before home prices and mortgage rates climb even higher.
By Karen Ann Martin, Realtor Fall River Westport MA Real Estate Agent
(Safe Harbor Realty )
Comments 1
Westport Mass Homes for sale and real estate      Currently in Westport there is a short supply of homes for sale and an abundance of buyers looking for a home in Westport.  There are currently 19  homes for sale in Westport.  The lowest priced home, a farm on 12 acres with restriced agriculture use is offered at $200,000.  The highest priced home for sale in Westport is offered at 2.5 million. It is a Secluded 71 acre farm with an airplane hanger and 3 ponds. Close to East Beach.  As of this writing. In a normal real estate market pre - Covid there are generally 90-125 homes for sale in Westport .     Clearly the low supply and high demand are making it a sellers market. If you are thinking of selling and want To get top dollar it is a good time to sell.  In April, Westport homes had a...
By Suzanne Cutler, 617-549-5829, Braintree MA, Realtor, Real Estate
(Success! Real Estate)
Comments 5
https://www.aryeo.com/v2/35-willow-pond-dr-rockland-ma-02370-us-792953/brandedDon't miss out - Open House on Sat. May 1st and Sun. May 2nd 12-2 pm at 35 Willow Pond Drive, Rockland, MA  Contact Suzanne Cutler, Realtor617-549-5829
By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Comments 2
Is Home Price Appreciation Accelerating Again? At the beginning of the year, industry forecasts called for home price appreciation to slow to about half of the double-digit increase we saw last year. The thinking was that inventory would increase from record-low levels and put an end to the bidding wars that have driven home prices up over the past twelve months. However, that increase in inventory has yet to materialize. The National Association of Realtors(NAR) reports that there are currently 410,000 fewer single-family homes available for sale than there were at this time last year. This has forced those who made appreciation forecasts this past January to amend those projections. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, the National Association of Realtors, and Ze...
By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Comments 1
Will the Housing Market Maintain Its Momentum? Last week’s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% compared to the month before. This is the second consecutive month that sales have slumped. Some see this as evidence that the red-hot real estate market may be cooling. However, there could also be a simple explanation as to why existing home sales have slowed – there aren’t enough homes to buy. There are currently 410,000 fewer single-family homes available for sale than there were at this time last year. Lawrence Yun, Chief Economist at NAR, explains in the report: "The sales for March would have been measurably higher, had there been more inventory. Days-on-market are swift, multiple offers are prevalent, and buyer con...
By Zachary Parker, Real Estate Marketing Pro | SEO Gun for Hire
(ProSource Media)
Comments 1
The City of Boston is currently the 3rd most expensive rental market in the US behind New York and San Francisco.  Apartment prices have been steadily on the rise for over a decade due to a short supply of housing and a growing demand for apartment rentals.  This demand-growth has been fueled by increasing enrollment at local Universities and an ever-growing stream of VC funding towards Boston-based startups. 2020 marked the first year since the housing crisis where rent prices dipped in Boston.  The pandemic led to mass vacancies near Downtown and local Universities due to remote work and remote learning.  Vacancy rates climbed as high as 25% in Downtown, and still remain above 20% currently.  As a result, average rent for Downtown Boston apartments is down -21.45% YOY, Bay Village ren...
By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Comments 2
4 Tips to Maximize the Sale of Your House Homeowners ready to make a move are definitely in a great position to sell today. Housing inventory is incredibly low, driving up buyer competition. This gives homeowners leverage to sell for the best possible terms, and it’s fueling a steady rise in home prices. In such a hot market, houses are selling quickly. According to the National Association of Realtors (NAR), homes are typically on the market for just 18 short days. Despite the speed and opportunity for sellers, there are still steps you can take to prep your house to shine so you get the greatest possible return. 1. Make Buyers Feel at Home One of the ways to make this happen is to take time to declutter. Pack away any personal items like pictures, awards, and sentimental belongings. T...
By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Comments 2
This Isn’t a Bubble. It’s Simply Lack of Supply.  Some Highlights In a recent article, Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), discussed the state of today’s housing market. When addressing whether or not today’s high buyer competition and rising home prices are evidence of a housing bubble, Yun said that this “is not a bubble. It is simply lack of supply.” Today’s housing market is healthy, and rising prices are driven by real buyer demand. Let’s connect to talk about the best ways to navigate such an energetic market.
By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Comments 4
How To Make Big Changes To Your Home In A Short Time  If you have been looking to give your home a bit of pizzaz, you may be worried about the cost or the time investment. The good news is that you don’t need to put in a huge amount of work or money in order to make a big difference in your home. Below, you’ll find some of the easiest projects that you can complete in a hurry. You’ll be enjoying a new view of your home in no time!    Change Up The Mantel   We often grow comfortable with the decor in our homes. It’s a good idea to change those pictures and displays that you have along the top of your fireplace from time to time. For a more dramatic change, you can replace the entire mantel.     Bring Out The Front Entryway   The entry to your home is all a part of the curb appeal. You ca...
By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Comments 1
82,338 Great Reasons to Buy a Home Today The financial benefits of buying a home as compared to renting one are always up for debate. However, one element of the equation is often ignored – the ability to build wealth as a homeowner. Most experts are calling for home prices to continue appreciating over the next several years. The most recent Home Price Expectation Survey, a survey of over one hundred economists, real estate experts, and investment and market strategists, expects home appreciation to increase as follows: 2021: 6% 2022: 4.5% 2023: 4% 2024: 3.6% 2025: 3.5% Using their annual projections, the graph below shows the equity build-up a purchaser could earn, using a $350,000 home as an example:A homeowner could increase their net worth by over $80,000 in five years. That’s an a...
By Zachary Parker, Real Estate Marketing Pro | SEO Gun for Hire
(ProSource Media)
Comments 0
Harvard, BU, Northeastern, UMass, Tufts, and MIT have all made announcements of their plans to either scale down or phase out remote learning for the Fall 2021 semester.  The much anticipated news is beginning to steady the apartment rental market in Boston, which has been plagued by vacancies as a result of a diminished student population.  The real-time availability rate (RTAR) in Boston peaked at 13.56% in March of this year as Universities began releasing their plans.  That peak marked a 159.7% YOY increase in apartment availability from the same data in 2020.  It has since leveled off and come down to 12.75% as the news has restored demand for off campus housing in Boston.  Typically availability peaks in Boston from March to April as it coincides with the latter half of the Spring...
By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Comments 5
How Much Time Do You Need To Save for a Down Payment? One of the biggest hurdles homebuyers face is saving for a down payment. As you’re budgeting and planning for your home purchase, you’ll want to understand how much you’ll need to put down and how long it will take you to get there. The process may actually move faster than you think. Using data from the U.S. Department of Housing and Urban Development (HUD) and Apartment List, we can estimate how long it might take someone earning the median income and paying the median rent to save up for a down payment on a median-priced home. Since saving for a down payment can be a great time to practice budgeting for housing costs, this estimate also uses the concept that a household should not pay more than 28% of their total income on monthly...
By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Comments 3
Home Is Where the Heart Is! Some Highlights There’s no doubt about it: homeowners love their homes, and that feeling has become even more important over the past year. The vast majority of homeowners say they’re emotionally attached to their home and that it has kept them safe during the COVID-19 pandemic. Owning a home provides a sense of safety, security, and accomplishment. Let’s connect to move your homeownership goals forward today.
By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Comments 1
93% of Americans Believe a Home Is a Better Investment Than Stocks A recent Survey of Consumer Finances study released by the Federal Reserve reveals the net worth of homeowners is forty times greater than that of renters. If you’re wondering if homeownership is a good investment, the study clearly answers that question, and the answer is yes. Do Americans believe a home is a better investment than stocks? In a post on the Liberty Street Economics blog, the Federal Reserve Bank of New York notes that 93.3% of Americans believe buying a home is definitely or probably a better investment than buying stocks. Here’s how the results break down:The survey also shows a wide range of reasons why Americans feel that way (respondents were able to pick more than one answer): Bottom Line The data s...
By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Comments 5
Some Buyers Prefer Smaller Homes Over the past year, we’ve had plenty of opportunities to reflect on what we consider most important in our lives. The place we call home is one of the biggest things many of us are reevaluating. George Ratiu, Senior Economist at realtor.com, shares: “The very nature of the pandemic, through the health implications, social distancing, and need to isolate, has really brought a central focus on the importance of home for most Americans…In a sense, it has elevated real estate markets as a centerpiece of our lives.” For some, this has spurred an interest in making a move to a home that better suits our changing needs. In a recent study on today’s homebuyer preferences, the National Association of Home Builders (NAHB) states: “When asked more specifically how ...
By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Comments 4
4 Major Reasons Households in Forbearance Won’t Lose Their Homes to Foreclosure There has been a lot of discussion as to what will happen once the 2.3 million households currently in forbearance no longer have the protection of the program. Some assume there could potentially be millions of foreclosures ready to hit the market. However, there are four reasons that won’t happen. 1. Almost 50% Leave Forbearance Already Caught Up on Payments According to the Mortgage Bankers Association (MBA), data through March 28 show that 48.9% of homeowners who have already left the program were current on their mortgage payments when they exited. 6% made their monthly payments during their forbearance period 7% brought past due payments current 6% paid off their loan in full This doesn’t mean that the...
By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Comments 3
Multigenerational Housing Is Gaining Momentum Some Highlights If your house is feeling a little cramped with the addition of adult children or aging parents, it might be time to consider a move-up into a multigenerational home that better suits your changing needs. With benefits that include a combined homebuying budget and shared caregiving duties, an increasing number of households are discovering the value of a multigenerational home. With such high demand for houses today, now is a great time to sell so you can upgrade to a multigenerational home that may better suit your evolving needs.
By Zachary Parker, Real Estate Marketing Pro | SEO Gun for Hire
(ProSource Media)
Comments 4
The South End has been one of the hottest rental markets in all of Boston over the past decade.  It has solidified itself as one of the most desirable neighborhoods in Beantown, home to the city’s best arts and cultural scene and widely considered to be the epicenter of Boston’s best restaurant offerings.  That combined with its close proximity to Downtown and local Universities, South End’s housing market has enjoyed a steady flow of demand for housing for a long time.  All that changed in 2020. When the pandemic came to town, it reshaped the local housing economy.  Remote learning was put in place at every major local University, causing widespread vacancies in student enclaves like Allston, Mission Hill, Fenway, and South End.  Remote work led to a mass migration from Downtown to the...

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