The Blair Team

Change is coming...

2011-11-03T23:28:00.001-04:00

Local Market Conditions are Changing Fast...Market Insider

2011-10-27T20:57:00.001-04:00

My Market Insider - Update for October 2011

Local real estate conditions are changing and your Market Insider provides valuable, up-to-date information about the communities important to you. View critical information about what is happening now, so you can be a "Market Insider"!

Market Area: 01742
Listing Price $1,237,390
Listing Price Trend -0.02%
Sold Price $843,710
Sold Price Trend + 4.45%
Just a fraction of what's happening...
click now to view more local market conditions!

Buying or selling a home involves many factors. Stay on top of current community trends by viewing these listing and sale prices, demographics, school performance, area comparisons, and more. Of course, you can always call or email for help understanding what this information really means for you.
Featured "Insider Tip"
Can You Still Buy with No Down Payment on a Home?

For many 1st time home buyers requiring down payment assistance, the idea of putting the traditional 10 or 20 percent down on a home purchase can leave them feeling drained or hopeless. Will the...
Learn more about successfully selling or buying a home and check out a whole library of tips and articles to help you!
As always, thank you for your time and feel free to get in touch if you have any questions.

Yours truly,

The Blair Team

Patricia Blair
Keller Williams Boston Northwest
Office phone: 978-505-7624
Website: www.patandcharlieblair.com
Email: TheBlairTeam@kwrealty.com
KW Website: http://TheBlairTeam.kwrealty.com

Daily Economic Update: Mortgage Applications

2011-10-20T20:56:00.000-04:00

Daily Economic Update: Mortgage Applications

Each day the Research staff takes a look at recently released economic indicators, addressing what these indicators mean for REALTORS® and their clients. Today’s update highlights mortgage applications.

Mortgage applications declined 14.9 percent during the week ending October 14, maintaining the up-and-down trend of activity, with the Purchase index decreasing 8.8 percent.
The Refinance index dropped 16.6 percent from the prior week, as interest rates on 30-year fixed mortgages rose from 4.25 to 4.33 percent.
Cash purchases—which account for 30 percent of transactions—were not captured in the data.
The Census released the latest Consumer Price Index (CPI) for the month of September—prices for goods rose 0.3 percent from the previous month.
Consumer prices are up 3.9 percent compared with last year, indicating an upward inflationary drift. The Cost of Living Adjustment on social security checks for 2012 is likely to be 3.5 to 4.0 percent.
The core CPI—excluding food and energy—was up 0.1 percent in September.
In another report, the Census Bureau shows that new housing starts registered an annual rate of 658,000 units in September, a 15 percent increase from the revised August figure.
New housing completions were up 2.1 percent in September compared with August—at 428,000 units—and 2.1 percent year-over-year.

Social Media and REALTORS®

2011-10-20T20:44:00.000-04:00

Social Media and REALTORS®

Although social media has rapidly penetrated market communications, the use of social media has not changed much between the 2010 and 2011 surveys.
Almost half of members are using social media while an additional 9 percent plan to in the future. In the 2010 survey, only 35 percent of REALTORS® used social networking websites, and 14 percent planned to do so in the future.
The use of social networking sites is more widespread among younger REALTORS®, with over 8 out of 10 of those aged 29 or younger using such sites.
One in ten members reported having a real estate blog. That number did not change from the year before.
Among all REALTORS®, those younger than 39 years of age are more likely to have a blog, though 6 percent of those over 60 also have a blog.

Home sales jump 7.7 pct as foreclosures rise

2011-09-21T14:45:00.000-04:00

Home sales jump 7.7 pct as foreclosures rise
September 21, 2011 1:03 PM ET
By DEREK KRAVITZ

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WASHINGTON (AP) - The number of Americans who bought previously occupied homes rose in August. But the sales were driven by an increase in foreclosures, a sign that home prices could fall further next year and slow a housing recovery.

The National Association of Realtors said Wednesday that home sales rose 7.7 percent last month to a seasonally adjusted annual rate of 5.03 million homes. That's below the 6 million that economists say is consistent with a healthy housing market.

Last month's pace was slightly ahead of the 4.91 million sold in 2010, the worst sales level in 13 years.

Homes at risk of foreclosure made up 31 percent of sales. That's up from 29 percent in July. Many of the sales went to investors, who are increasingly buying homes priced under $100,000. Sales in that category rose in August while sales of more expensive homes fell.

At the same time, activity among first-time buyers, who are critical to reviving the housing market, didn't budge. First-time buyers made up only 32 percent of sales, matching the July level. They normally make up 50 percent of home sales in healthy markets.

Economists offered a grim outlook for the next few months.

"With economic growth sputtering, the modest recovery we have seen so far in home sales is likely to become even more sluggish," said Sam Bullard, senior economist at Wells Fargo.

Paul Dales, senior U.S. economist at Capital Economics, said weaker consumer confidence and the "associated surge in concerns about the health of the overall economy," could send sales falling further this fall.

"There is a real possibility that all this put off potential buyers, meaning that fewer deals were signed in August and that existing home sales will fall back in September," he said.

Yet another complication: New maximum loan limits by government-controlled mortgage buyers Fannie Mae and Freddie Mac. On Oct. 1, the maximum loan in high-cost areas will fall from $729,750 to $625,500 and, in some areas, to $550,000. That means some buyers will be unable to get mortgages in cities where homes are more expensive, such as New York, San Francisco and Washington.

More than two years after the recession officially ended, many people can't qualify for loans or meet higher down-payment requirements. Even those with excellent credit and stable jobs are holding off because they fear that home prices will keep falling. Home sales are also being hurt by a steep decline in first-time buyers.

Sales have fallen in four of the five years since the housing boom went bust in 2006. Declining prices and record-low mortgage rates haven't been enough to boost sales.

Most economists say home prices will keep falling, by at least 5 percent, through the rest of the year. Many forecasts don't anticipate a rebound in prices until at least 2013

The median sales price dropped roughly to $168,300 in August from July. A key reason was the rise in foreclosures and short sales — when a lender accepts less than what is owed on the mortgage. Those homes sell at an average discount of 20 percent.

Investors are taking advantage of the discounts. Their purchases made up 22 percent of all sales last month, compared with 18 percent in July.

The high rate of foreclosures has made re-sold homes much cheaper than new homes. The median price of a new home is roughly 30 percent higher than the price of one that's been occupied before — twice the normal markup.

And deals that are near closing are falling apart at the last minute. Contracts were cancelled at a higher rate in August, with 18 percent of Realtors saying they had at least one contract scuttled. That's up from 16 percent in July.

The Obama administration is trying to expand a program that allows homeowners to refinance their mortgages. But economists say that will do little to help the depressed housing market.

Across the country, home sales rose in every region. In the West, sales increased 18.3 percent, with prices there dropping significantly over the past year. Sales rose 5.4 percent in the South, 3.8 percent in the Midwest and 2.7 percent in the Northeast.

The glut of unsold homes declined slightly in August to 3.58 million homes. At last month's sales pace, it would take 8.5 months to clear those homes. Analysts say a healthy supply can be cleared in six months.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

September Buying Advice

2011-09-11T10:22:00.001-04:00

http://realestate.msn.com/article.aspx?cp-documentid=30397733

What Home Buyers Really Want - My Money (usnews.com)

2011-08-30T12:39:00.000-04:00

What Home Buyers Really Want - My Money (usnews.com)

Smart Money. Forget the Market. Buy a House !

2011-08-19T14:26:00.004-04:00

http://blogs.smartmoney.com/advice/2011/08/18/forget-the-market-buy-a-house/

New Listing !

2011-08-19T09:39:00.000-04:00

467 Massachusetts Ave, Acton MA 01720

http://www.patandcharlieblair.com/Web/AR413445/FeaturedListings/details/5044259?listing_id=6141655

Great location in set back neighborhood. Walk to Schools, shops and restaurant Beautifully maintained traditional colonial in move in condition. The large entry hall, formal dining room with chair rail, nice living room and a huge kitchen with eating area that opens to the FR/w/ fp and tray ceiling. The master has a private bath and a fabulous master closet. Three additional bedrooms complete the 2nd.floor with both front and rear staircases. The lower level houses the music room/playroom.

We've Moved !

2011-08-17T12:16:00.000-04:00

Top Boston area neighborhoods, cities, and towns to live in 2011 - Boston.com

2011-06-20T14:01:00.000-04:00

Top Boston area neighborhoods, cities, and towns to live in 2011 - Boston.com

QR code opportunities in real estate | Inman News

2011-05-22T12:37:00.000-04:00

QR code opportunities in real estate | Inman News

Massachusetts REALTOR News

2011-05-09T09:59:00.000-04:00

Massachusetts REALTOR News
April Pending Home Sales in Massachusetts Up From March for Third Straight Month-to-Month Gain

New Home Sales Soar Nearly 27% in March

2011-04-17T14:51:00.000-04:00

New Home Sales Soar Nearly 27% in March

2011-04-06T20:23:00.001-04:00

Staging Your Home For Sale - Is It Worth The Investment?

For the past three months the average selling price of a staged home was 19% above the listing price while the unstaged home was only 15%. The 4% difference more than paid the staging cost.

Here are the ten secrets fo selling from Marelen Wharmby, a successful home stager:

Freshen up the home by painting walls a light, neutral color, such as antique white. Lighter colors appeal to a wider range of buyers and make each room look larger.

Take a close look at the floor coverings in each room. If you have hardwood floors under the carpet, you will always make money by removing it, even if the floor is not in perfect condition.

Allow as much light as possible to enter the room. Open up or remove all draperies, blinds, shades or other window coverings.

Removing the clutter of everyday life - all utilitarian items, stacks of paperworks, toiletries, kitchen utensils, electronic equipment and television sets.

Remove furniture from each room that does not go with the decor, such as items that stand out too much and items that are worn or of an unappealing color.

Place the remaining room furnishings in a way that makes best use of the character of the space. A room should be balanced so that people do not focus on one particular piece of furniture.

Now that you've removed the clutter from your home, adding some nice but inexpensive accessories will greatly elevate the perceived value of the home.

Clean, clean, clean. Every crevasse within the home should be spotless and gleaming. Even your normal weekly cleaning can not come close to the quality of clean you need.If you smoke at home, please open the windows and allow your home to air out. Remove or shampoo all the carpeting and upholstery that may have absorbed the smell.

You can't over spend on fresh plants and orchids, elaborate floral arrangements and landscape plants. All these provide a strong addition to the ambience you want to create.

Go on vacation! The houses that sell for much higher prices are homes that do not have the slightly disheveled look which comes with showering in the morning and cooking dinner in the evening. Being gone also will lower your level of stress and make the house easier to sell. Think of it this way: Your vacation will actually make you money.