Massachusetts Real Estate off to a positive start!

Massachusetts Real Estate is off to a positive start in 2014

The market momentum of 2013 has continued through the new year and into January as home sales and prices were up again to start the year. While inventory continues to be down, the return of equity is giving homeowners a better opportunity to put their homes on the market – if that’s what they want to do. Unfortunately, inventory can’t come back if sellers don’t list their homes. 

Highlights from the release:

•     January single-family home sales – Up 0.7% over last year.
•     January Single-family median prices were UP 14.3% to $320,000. Sixteen straight months of increases.
•     January condo sales up 4.1% and median prices UP 20.2% ($300,500)
•     Inventory in January Down 20.4% to 15,246 and Condominium available Down 27.0% to 4,232
•     SF listings added to the market in January Down 11.1% over last year. (4,167 from 4.685 in 2013)
•     Condo listings added to the market Down 11.4% over last year. (1,700 from 1,919 in 2013)

This information is provided from the Massachusetts Association of Realtors

Pets Make a House a Home!

I love the new Coldwell Banker TV ads.  It puts in perspective what home ownership is all about - kids, family gatherings, holidays, pets and more.   Most of you know I have an adorable Beagle and just had to pick the commercial about pets making a house a home!    Can you guess whose voice is on the commercials?  Hint, he is a famous actor!

In the Headlines - Weekly Real Estate News

Help for homeowners, positive outlook on housing, January pending sales are up in Massachusestts and more are in the real estate headlines.   

Massachusetts Pending Home Sales Up Again in January

States Negotiate $26 Billion Agreement for Homeowners
BanksPaying Homeowners to Avoid Foreclosures

Fannie Mae: Outlook for Home Prices Rises Again
Multiple Industries Join Together to Urge Long-TermNFIP Extension
Home Owners Shouldn’t be Washington’s Personal ATM

Winners and Losers in the Proposed Housing Plan

What does it mean if the government eliminates Freddic Mac and Fannie Mae?  It will cost Buyers more money to borrow money with higher interest rates and larger down payments which are all part of what could happen.   There is no doubt drastic changes are on the horizon.  Over the next several months we need to pay attention to what is being proposed and how that will effect you as a homeowner and future home buyer.

Read on about the winners and losers of the new housing plan - http://reut.rs/gdaupD