Sign up now for the Graduate REALTOR® 101 Skills for Success course on May 7th and 8th from 8:00am to 5:30pm. This two day course takes REALTORS® through the listing process and introduces technology that will provide assistance on both marketing property and on listing appointments. Use this opportunity to gain a thorough understanding of how to find potential sellers, show your value as a real estate agent, secure the listing, and learn key habits that are needed in daily routines!
Here are the articles and posts that resulted in the release of our March 2014 closed sales report yesterday. We’ll continue to update this post as more articles come in.
Thursday, April 24, 2014
Condos sizzle as home sales slump
BostonRealEstateNow Blog (Boston.com)
Wednesday, April 23, 2014
New England Cable News
MAR: New Listings Increase, But Inventory Still Squeezed
Banker & Tradesman
Bay State home sales fall in March, prices up
Boston Business Journal
Mass. single-family home sales fell in March
Housing supply still not meeting homebuyer demand
Real Estate: Inventory up, prices rise, sales fall
Cape Cod Today (via State House News Service)
Attleboro area home sales plunge in March
Massachusetts Homes Sales Down in March
WBUR 90.0 FM (Associated Press)
Closed home sales went down again in March, but there are signs that the spring market (and hopefully the weather) is starting to warm up as new listings added in March went higher. Once again there continued to be an overall shortage in the number of homes for sale, which combined with strong buyer demand, pushed home prices up again. (see graphs below – click on them to enlarge)
- Direct link to podcast with MAR President Peter Ruffini
Click arrow below to listen to podcast:
Highlights from the release:
- March single-family home sales – Down 11.5% over last year. (2.698 sales in 2014 from 3,047 sales in March 2013)
- March single-family median prices were UP 8.3% to $314,063. Eighteen straight months of increases
- March condo sales up 4.2% and median prices UP 11.2% ($300,154)
- Inventory in March Down 13.9% to 16,961 and Condominium available Down 23.7% to 4,733
- SF listings added to the market in March Up 12% over last year. (7,110 from 6,343 in 2013)
- Condo listings added to the market down 0.8% over last year. (2,651 from 2,671 in 2013)
We wanted to let you know that FEMA recently issued a bulletin about the Homeowner Flood Insurance Affordability Act that REALTORS® should know about.
The provision we’re highlighting in the bill is Section 3(b). This section allows for a subsidized policy to be assumed by a new buyer at the time of purchase.
What does this mean to you and your clients?
It means effective May 1st, older homes that were subjected to a full risk rate because they were purchased after enactment of Biggert-Waters or because of a lapse in coverage will see their subsidized rates restored.
Read the FEMA bulletin here:
With the passage of the NAR-supported Homeowner Flood Insurance Affordability Act in early April, REALTORS® were able to help bring property buyers and owners relief from exorbitant rate shocks and potentially inaccurate rate quotes that were causing uncertainty in the real estate market.The story doesn’t end there, however. Now the new legislation must be implemented and there are both concerns and questions that remain unanswered. Check out the rest of the story from the NAR article from here.
The REALTOR® Day on Beacon Hill isn’t the only hot ticket in town this June! MAR and The Warren Group are coming together for an event that will feature great market analysis, vendors, food and cocktails, and a free Warren Group Market Share Report. Just in case that wasn’t enough to lure you in, every attendee will also be entered to win $500 in cash! The program will take place on June 25th from 1 – 6:00 pm at the Hilton Boston/Woburn in Woburn Massachusetts. For information on the schedule, speakers, directions, and more, please click here.