The real estate market is starting to correct itself. Between low inventory and rising interest rates, the market is starting to balance out. Notice I said balance out. I did not say it will favor buyers or sellers because it is too early to tell which way the pendulum will swing. Truth be told, I do not think it will swing fully to one side or the other but I…
Interest rates continue to climb. The rate on a 30 year fixed as of July 8th was 6.4%. In comparison, rates were in the mid fours four months ago. So what does that mean if you are pre-approved? It means you need to contact your loan officer and adjust that pre-approval letter. With interest rates soaring, it will impact your buying power. What you could afford in March April or…
Rhode Island governor Dan McKee announced a new program last week that could help first time homebuyers buy their first home. The program is called FirstGenHomeRI. It is only available in select communities right now but if you are a first generation, first time homebuyer, you could be eligible for up to $25,000 towards a down payment. The program could be very helpful for first time homebuyers who may not…
Active Single Family Listings: 3 2021 Median Sale Price: Median Sale Price for January: $695,000 Closed Sales in 2021: 20 Pending Sales to Date: 7 Cumulative Days On Market: 29 Mansfield Town Facts: Mansfield is a medium sized community. It has a population of 23,860 people with four primary neighborhoods. 87% of the workforce in Mansfield works in white collar jobs. The average commute time for Mansfield residents is 33 minutes. The per…
Interest rates are climbing. It is a trend that started last year. The average rate for a 30 year fixed mortgage was 2.65% in January of 2021. Rates have gradually increased since. They peaked for the year in December at 3.1% percent. Rates have continued to climb since the start of the new year and are currently 3.45% for a 30 year fixed mortgage. Unfortunately this was coming. Real estate…
Home sales (and values) have been on a strong uptick nationwide thanks to low interest rates, freer lending standards and a drop in the foreclosure rate. Sellers everywhere are breathing a giant, collective sigh of relief! But for all of the buyer activity, it seems like most houses sit on one end of two extremes: they either get snatched up the moment they hit the market (with multiple offers and…
Here is your market update for Norfolk County for April 2021 Norwood Pending Sales: 28 Closing Sales: 14 Median Sales Price: $517,500 Cumulative Days On Market: 15 Dedham Pending Sales: 36 Closing Sales: 20 Median Sales Price: $636,500 Cumulative Days On Market: 19 Walpole Pending Sales: 16 Closing Sales: 10 Median Sales Price: $597,750 Cumulative Days On Market: 17 Canton Pending Sales: 38 Closing Sales: 12 Median Sales Price: $732,250…
You are in the market to buy your dream house but every time you find a home you like and put in an offer, you get outbid. Thus is the life of a buyer in 2021. There are too many buyers and not enough homes. Buyers are resorting to desperate measures to secure the home of their dreams. From writing letters to waving inspections, buyers are doing everything they can…
People who are looking to sell their home scoff at the notion of selling their home in the winter. Between the holidays and the weather, people always seem to put off listing their home in the winter. The belief is, the spring time is the ideal time to sell your home. While there might be some truth to that, there are benefits to selling your home between the months of…