From our President tag:channingrealestate.com,2010:/blog//1 2010-03-12T00:21:05Z See all properties in Cambridge, MA. and Somerville, MA. Find out what's new to market; What sold; What isn't selling! Your complete guide to the Cambridge, MA. and Somerville, MA. real estate market! Movable Type 3.35 Maps, maps everywhere tag:channingrealestate.com,2010:/blog//1.73 2010-03-12T00:19:25Z 2010-03-12T00:21:05Z Maps, maps, maps: that's the practical underpinning of location, location, location. The maps we use everyday to tell us where things are, how to plan our route and what's the best place to live help us to accomplish a lot... brilliant creative cartography by illustrator Christoph Niemann.]]> Cambridge, Somerville in hunt for high-speed Google Internet network tag:channingrealestate.com,2010:/blog//1.72 2010-03-05T20:06:25Z 2010-03-05T20:08:47Z Boston, Somerville, Cambridge & other local communities are putting themselves forward as candidates for Google's plan to install super-high-speed Internet connections across the country. Google's motives aren't clear just yet, but the project could be a great boon to cities... candidates for Google's plan to install super-high-speed Internet connections across the country. Google's motives aren't clear just yet, but the project could be a great boon to cities around the country. Cooperation with Google ...goes beyond getting faster internet: it gives cities in the program the chance to attract high tech businesses and grow their commercial tax base, which would allow for improved constituent services like schools and, if the numbers are right, allow for a decrease of the residential property tax rate. Low property taxes and good schools make a place very attractive and that means robust appreciation in property values. We like the sound of that a lot. Here's to Cambridge and Somerville both getting picked by Google.]]> The Spring Market is Here in Cambridge MA and things are heating up! tag:channingrealestate.com,2010:/blog//1.71 2010-03-03T16:55:05Z 2010-03-03T16:59:21Z We've been looking forward to seeing the Massachusetts MLS stats for February 2010. Single-family under-agreements are up 16% statewide since last year. Condo under-agreements are up 25-percent! In Cambridge & Somerville, we're seeing a burst of activity that confirms these... Massachusetts MLS stats for February 2010. Single-family under-agreements are up 16% statewide since last year. Condo under-agreements are up 25-percent! In Cambridge & Somerville, we're seeing a burst of activity that confirms these statistics. Some properties have gotten as ...many as 80 visitors at the Sunday open house. The market for listings in the right location, and in the 1st-time-buyer price range, is particularly hot. This is the time to get in on the action in the Cambridge MA real estate market and the Somerville MA real estate market.]]> Condos & Single-Family Prices up in Jan 2010 tag:channingrealestate.com,2010:/blog//1.70 2010-02-24T21:00:03Z 2010-02-24T21:03:39Z Housing prices and sales volume are performing astonishingly well this January. The tax credit and low mortgage rates are contributing to this, as is low inventory. If you've been thinking of selling, don't wait to take advantage of this situation.... Housing prices and sales volume are performing astonishingly well this January. The tax credit and low mortgage rates are contributing to this, as is low inventory. If you've been thinking of selling, don't wait to take advantage of this situation. ]]> Buying a Home Offers Many Happy Returns tag:channingrealestate.com,2010:/blog//1.69 2010-02-24T18:04:25Z 2010-02-24T18:07:55Z Investors who are uneasy with the ups and downs of an unpredictable stock market might be interested in a more reliable, steady option. If history is any indicator, perhaps the best decision those investors can make at the moment would... Investors who are uneasy with the ups and downs of an unpredictable stock market might be interested in a more reliable, steady option. If history is any indicator, perhaps the best decision those investors can make at the moment would be to purchase a home. Since the 1940s, home prices have risen an average of 4 percent a year. However, since most buyers only put down a small percentage of the home's total cost, a buyer who pays 20 percent down still gets to enjoy all of the appreciation. That turns a 4 percent increase in home prices into a 20 percent yield on the money actually invested by the buyer. "Today's market gives individuals a chance to enjoy some of the lifestyle perks associated with owning real estate that they might not otherwise be able to afford. This might be the only time they can move to the more prestigious neighborhood, trade up to the larger home or get that cabin by the lake they always wanted," said Jim Weichert. Even with real estate's proven track record of financial returns, perhaps the best reasons to buy now are the personal benefits associated with homeownership that you just can't get from other investments. "Many Americans successfully fund their retirement in large part through the equity they earned by owning a home over the years. Why not use that same investment practice for other purposes? Instead of buying mutual funds which are just paper until you cash them out, buy a vacation property that you can enjoy for 10 or 15 years and then sell when it comes time to finance your child's education. Not only will you have a place to build great family memories, you'll also see a healthy financial return," Happy 2010 tag:channingrealestate.com,2010:/blog//1.68 2010-01-04T14:45:22Z 2010-01-04T14:47:32Z Here are some goals for the New Year meant to make your home a better place to live.... goals for the New Year meant to make your home a better place to live.]]> November sales up in Mass tag:channingrealestate.com,2009:/blog//1.67 2009-12-22T19:12:20Z 2009-12-22T19:13:16Z The Boston Globe delivers some seasonal cheer with November market stats for Massachusetts. Condo and single-family sales are up since last year. We've made it a long way since the midst of the financial crisis in Nov. 2008.... seasonal cheer with November market stats for Massachusetts. Condo and single-family sales are up since last year. We've made it a long way since the midst of the financial crisis in Nov. 2008.]]> Cold enough for yah? tag:channingrealestate.com,2009:/blog//1.66 2009-12-21T15:29:59Z 2009-12-21T15:31:29Z Heating season is upon us and it's been an unusually cold December here in the Massachusetts, but the good news is that a variety of rebates, incentives and credits are available for homeowners who want to cut their heating costs... green home improvements exists as well.]]> Planning to buy a house? Don't wait around too long. tag:channingrealestate.com,2009:/blog//1.65 2009-12-10T15:25:20Z 2009-12-10T15:29:16Z If You Don't Buy a House Now, You're Stupid or Broke" That's the headline of an article in Business Week. Despite the flippant tone of the headline, the article presents solid, common sense advice. Find out why getting a low... Business Week. Despite the flippant tone of the headline, the article presents solid, common sense advice. Find out why getting a low interest rate loan today will save you more money than waiting around for a bargain-priced house.]]> Boston Home Values See Biggest Gains in the US tag:channingrealestate.com,2009:/blog//1.64 2009-12-09T18:27:34Z 2009-12-09T18:33:22Z Home values increased in 48 of 152 real estate markets this year. The Boston area is at the top of that list with an increase of $23.3 billion this year. Let's hope this trend continues. Read more here... here]]> Presidential residences in Cambridge tag:channingrealestate.com,2009:/blog//1.63 2009-11-23T16:17:08Z 2009-11-23T16:25:46Z If you're the President of a major Massachusetts university, you definitely get to live in style. Cambridge can boast of three such university-owned presidential mansions. Check them out, and others, in this slide show.... slide show. ]]> Watch out for this short sale pit fall tag:channingrealestate.com,2009:/blog//1.62 2009-11-21T15:27:03Z 2009-11-21T16:37:14Z Short sales are complex transactions. Much of the public, attracted to short sales and bank-owned properties by the prospect of getting a bargain, doesn't know the shocking truth about the short sale timeline: it can take weeks, even months before... article sums it up nicely:
A short sale is a completely volunatry attempt by a borrower to avoid a foreclosure -- a borrower does not have to opt for a short sale. That being the case, how could it be said that a lender has a right to be presented an offer?
]]> Pending Home Sales UP for the 8th Month in a Row! tag:channingrealestate.com,2009:/blog//1.61 2009-11-10T15:29:49Z 2009-11-10T16:13:28Z The national real estate market sure is active! NAR released it's pending home sales data for September 2009 and the numbers are looking good. The index increased 6.1% from September to August and is 21.2% higher than September 2008. That’s... pending home sales index in 2001.]]> Great news for Home Buyers in 2010 tag:channingrealestate.com,2009:/blog//1.60 2009-11-05T21:49:06Z 2009-11-05T22:01:48Z It's almost official: the new home buyer tax credit pass both the Senate and House, and is awaiting President Obama's signature. If you're a first time home buyer, you'll have into 2010 to take advantage of the federal tax credit.... 2010 Home Buyer Tax Credit.]]> Market Watch for the Week of Nov 2 tag:channingrealestate.com,2009:/blog//1.59 2009-11-04T20:34:08Z 2009-11-04T20:35:38Z >> Market Update INFO THAT HITS US WHERE WE LIVE Last week September New Home Sales were reported down 3.6% for single-family units. But the supply of unsold new homes is just 7.5 months and inventories, at 251,000, are down... > Market Update INFO THAT HITS US WHERE WE LIVE Last week September New Home Sales were reported down 3.6% for single-family units. But the supply of unsold new homes is just 7.5 months and inventories, at 251,000, are down 56.1% from their mid-2006 peak and at their lowest level since 1982. The sales drop followed five straight months of sales increases and some observers felt the decline may have come from more aggressive pricing by sellers, actually a bullish sign for the housing market. Indeed, the median new home price was UP 2.5% for September, a bigger than usual gain for the time of year. The average price went UP 10.2%, the biggest September rise on record. Finally, the average price of new homes sold -- $282,600 -- was only 1.6% lower than last year. Speaking of prices, the Case-Shiller index reported home prices up in August for the fourth month in a row. The average of the 20 metro areas measured showed a 1.2% gain. Finally, we had the good news covered in last week's Inside Lending Bulletin that the Senate passed an extension of the first-time homebuyer $8000 tax credit, with higher qualifying income limits and adding a $6500 credit to buyers who have owned their homes at least 5 years. Let's hope the House passes it too. Finally, the House and Senate extended the ability of Fannie Mae, Freddie Mac and the Federal Housing Administration to back conforming loans in high-cost areas, up to $729,750 through all of 2010. These higher limits would have expired at the end of this year. >> Review of Last Week CAUTIOUSLY RECOVERING... The government reported our first quarter of positive economic growth last week, indicating the recovery has begun. Yet investors kept the Dow moving up and down over 100 points four out of the five days, ending the week with a startling 249-point drop. Was this a bull market correction, or the return to a bear market? Who knows? The only thing certain is that investors aren't quite sure the economy is back on track. Makes you wonder what it will take to convince them. The initial estimate for Q3 real GDP revealed the economy growing at a 3.5% annual rate -- way better than expected and the first rise in GDP in over a year. Happily, most of the advance was driven by consumption. Q3 GDP also showed home building UP at a 23.3% annual rate, its fastest rise since the '80's. Plus, Q3 corporate earnings reported so far show over 80% of the companies beating estimates, the highest rate in history. On the jobs front, Initial Unemployment Claims dropped and the 4-week moving average hit a new low in the recovery of 526,000. Continuing Claims fell to 5.8 million. Positive news also included Durable Goods Orders UP for September, their fourth boost in six months. Most impressive of all, the Chicago PMI measuring Midwest manufacturing, shot up to its highest level in over a year. And the Richmond Fed index for Mid-Atlantic manufacturing logged its sixth straight month in expansion territory. All are favorable signs for U.S. manufacturing. For the week, the Dow finished down 2.6%, to 9712.73; the S&P 500 was down 4.0%, to 1036.19; while the Nasdaq fell 5.1%, to 2045.11. The bond market closed the week with a rally, helped in no small measure by the slide in stocks. The FNMA 30-year 4.5% bond we watch ended up from the previous week's close, finishing at $101.19. Mortgage rates inched up a bit but remain in historically low territory. For this year, the Freddie Mac survey of mortgage rates reported its lowest 10-month average going back to 1971. >> This Week’s Forecast FOCUS ON THE FED... Almost no one expects a rate change coming out of this week's Fed meeting, but economists will be looking at the Fed policy statement for any signs of when things may change. Other items of interest this week include Pending Home Sales on Monday and Friday's Employment Report, where we'll search for signs of a turnaround on the jobs front. >> Federal Reserve Watch Forecasting Federal Reserve policy changes in coming months. With Q3 GDP showing the economy growing again, the big question is, when will the Fed start raising rates? Most economists think rates will stay down for a few months more, unless inflation bubbles up.]]>