Each week we will highlight a community in Massachusetts and Rhode Island. We will tell you how many home are currently on the market, median price for the month and the year and we will give you some additional facts about the community. Norwood Active Single Family Listings: 11 2020 Median Sale Price: $550,000 Median Sale Price for November: $547,500 Closed Sales for 2020: 184 Pending Sales to Date: 201…
Image courtesy of Getty Images. Will interest rates go up in 2021? That’s the $64,000 dollar question. It depends on who ask. Typically rates do experience an uptick after a presidential election but I wouldn’t expect a dramatic rise in the new year. According to Fannie Mae, rates for the 30-year fixed loan will remain at 2.8% through 2021 and only rise to 2.9% for 2022. That is great news…
According to the Bureau Of Veteran Affairs, more VA loans were processed in 2020 than any other year. The number of mortgages that were backed by the VA doubled from 2019 to 2020 with more veterans entering the market as buyers. Thanks largely to low interest rates and a no money down requirement with VA loans, veterans are buying homes at an unprecedented rate. Especially millennial veterans who are first…
Each week we will highlight a community in Massachusetts and Rhode Island. We will tell you how many home are currently on the market, median price for the month and the year and we will give you some additional facts about the community. Dedham Active Single Family Listings: 18 2020 Median Sale Price: $588,500 Median Sale Price for November: $570,000 Closed Sales for 2020: 253 Pending Sales to Date: 281…
Uxbridge, Massachusetts The real estate market is still strong despite COVID 19 and limited inventory. Pending home sales are up 20% from last year nationally. Mortgage applications are up 27%. Most people in Massachusetts, especially millennials want to live in or near the city. Unfortunately, many of them cannot afford to live near the city because of surging home prices and low inventory. They are being priced out. It was…
Most people think that the real estate market slows down this time of year and it does to a certain extent. However as I tell potential buyer clients, now is the right time of year for people looking for a home to buy. I know you have heard me say this before, but interest rates are at an all time low and they are probably not going to stay this…
President Elect Joe Biden has unveiled an ambitious plan designed to help first time home buyers get into their first home. Before we breakdown Biden’s first time homebuyer tax credit, check out his website for his vision for the real estate industry. It can be found on his website. The proposal is part of a $640 million dollar housing plan that Biden plans to usher in once he becomes president….
It is funny how conditioned people are in the northeast when it comes to the seasons. I recently spoke to a couple who was thinking of buying a home but said they are holding off until the spring. When I asked them why? They said it’s the fall. There are no houses on the market. I did a double take and proceeded to tell them that the fall is a…
The cost of renting an apartment is on the rise in Massachusetts. Massachusetts is currently fifth in the nation in rent cost. That is out of 56 states and territories. As of 2018, the average Fair Market Rent for a 2-bedroom home in Massachusetts was $1,352 per month. The average for a 3 bedroom was $1,707 dollars. A four bedroom would cost you on average $1,893 per month. 2 and…