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Category Archives: Market Reports

What will 2013 Mortgage Rates Look Like?

 

I am often asked by potential home buyers what will happen to the mortgage rates in 2013. Since I don’t have a crystal ball to predict the mortgage rates for 2013, I will defer to a recent article from one of my trusted mortgage specialists, Fred DaMore of Ross Mortgage.

“Mortgage interest rates have fallen over the last few years leaving many to wonder if the trend will continue in 2013. While it’s impossible to predict the future, the statistics below will help to provide perspective and give you a basic overview. Be sure to forward this information to friends and family who may be interested in a mortgage in the coming year.”
Mortgage Rates

Fred DaMore is the Branch Manager of Ross Mortgage Company with over 15 Years of Experience. His office is located at 3 Baldwin Green common #209 in Woburn MA 01801.  He can be reached at 781-376-9227 (NMLS# 4395- MC2084 & MC5274)

 

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Massachusetts Unemployment Rate Falls Below 7%

The MA unemployment rate fell to 6.8% in December which is down from 8.3% a year ago.
This is the lowest unemployment rate since Dec 2008 when it was 6.7%.

Read full story

 
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Posted by on January 23, 2012 in Market Reports

 

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2012 Homes Sales Point Upward

NAR released its latest pending home sales index figure last week and for the second month in a row the index is up. But more than that, the index has broken 100. This is significant because the only time since the housing boom collapsed that the index has broken 100 is when the home owner tax credit was in effect. The fact that the index has returned to that level a year since the credit has been in effect means the housing market is strengthening completely on its own, without any stimulus.

NAR Chief Economist Lawrence Yun is upbeat about 2012 because in a number of areas indicators are pointing upward. Not only are home sales up but housing starts are up and home prices are stabilizing in many markets and heading up in some. In areas where they’re still down, the declines aren’t that great. More fundamentally, broader U.S. economic signs are looking positive, including the all-important jobs picture. About 100,000 job are being created a month, and that could rise to 150,000—still not a quick enough pace to get us back to where we were before the downturn but the headwinds are in the right direction Read more

 

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Housing Market to finally hit bottom in 2012?

That’s the latest prediction from Freddie Mac chief economist Frank Nothaft.

He see’s home prices dropping another 1 percent across the country in 2012, followed by a 2 percent jump in 2013.

Mortgage rates will stay low through at least the middle of next year, Nothaft contends  Read More about housing market in 2012

 

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My Home Is Different and Special and is Worth More!

OK, the market may be down, but I don’t care, because my home is different. It’s so special and I am entitled to a nice premium, thank you very much. And don’t you dare offer a penny less than the listed price.

This continues to be a common refrain among homeowners, and no more so than here in Greater Boston, land of perpetually-inflated home prices

Despite the bursting of the real estate bubble and a near Depression, many still believe their homes are undervalued, HomeGain finds in its latest quarterly market survey.

Here’s a particularly telling stat. More than three quarters of homeowners nationally – 76 percent – believe their homes are worth more than the listing price urged by their real estate agent.

Not surprisingly, buyers are taking a different view, with 68 percent frustrated with homes they still believe are overpriced. Read more from “My Home is Worth More Than That!” from Boston.com Scott Van Voorhis

 

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How’s The Market

The most common question I get asked as a Realtor in Massachusetts is “How’s the Market?”  This question is not easily answered with a generic response and varies between cities and towns and whether you’re a buyer or seller. However, to give you an idea of  what’s going on in the market, I have created some helpful charts that will show the average sales price of different cities and towns over the past 11 years. View these Market Reports

 

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