Bridgewater, MA

The Trend in Home Sales in Bridgewater MA 02324 – Improving, or...?

Home prices in Bridgewater on average have been rising in recent months! While home prices on average are down 11.8% compared to 2010, and they are up 13.5% since August of 2011.

The current average listing price of homes for sale in Bridgewater MA is $299,902, up 2.3% from a month ago. Compare this to the current median sales price of $244,000 - where half of sales are above this amount and half below it.

Below is a chart of the trend of median prices of homes for sale in Bridgewater MA over the past 5 years through December 2011:

Bridgewater Recently Sold Homes

So what does all this mean? Well, if you're looking for a home in the town of Bridgewater, you better not mess around too much. Both sales of homes and prices of homes are up.

You can still buy a home with no money down with a VA Loan or with a USDA Rural Development Home Loan. With the FHA Mortgage program, you can purchase a home with as little as 3.5% down. With a MassHousing loan, you can purchase a home with as little as 3.0% down. When you’re ready to buy a home, find out how much house you can afford to buy in Bridgewater or in the surrounding area.

Be sure to contact me, Lew Corcoran, toll free at 1-800-941-5616, when you're looking to get pre-approved for a purchase of your next home. Otherwise you may end up frustrated, disappointed and, unfortunately, perhaps misled.

A home inspector working in Bridgewater MA is required to perform a home inspection to the Massachusetts Home Inspector Standards of Practice. A copy of the standard will be provided to the client by the home inspector.

The MA Home Inspector Standards of Practice is written for the professional home inspector. United Inspection Service has created some easy to read Consumer Information Sheets illustrating what is included and excluded in a Standard MA home inspection. Clear client communications (3c) are one of our core values. See the easy to read one page consumer information sheets for each of the systems in a MA Home Inspection.

Visit the Bridgewater MA Home Inspection web page from United Inspection Service for some useful information about homes in Bridgewater MA and the Massachusetts Home Inspection.

• Massachusetts Home Inspector Standards of Practice
• Recommended Questions to Ask the Seller/Seller's Representative
• Home Inspection Photographs
• Flood Zones
• Lead Paint
• Hazardous Waste Release
• Check the Bridgewater MA Home Inspector web page for consumer information links ...

The Trend in Home Sales in Bridgewater MA 02324 - Improving, or...?

Home prices in Bridgewater on average are falling! Home prices have fallen 9.2% since June of 2011.

However, the current average listing price of homes for sale in Bridgewater, MA is up. The average listing price is $314,274, up 1.1% from a month ago. Compare this to the current median sales price of $243,270 - where half of home sales are above this amount and half are below it.

Below is a chart of the trend of median sales prices of homes in Bridgewater, MA over the past 5 years through August 2010:

Bridgewater Recently Sold Homes

Median Sale Prices of Homes in Bridgewater, MA

The number of home sales in Bridgewater, MA is down 33.8% from year ago levels:

Bridgewater Recently Sold Homes

Number of Home Sales in Bridgewater, MA

So what does all this mean? Well, if you're looking for a home in the town ofBridgewater, you may be able to find a bargain. Both prices and sales of homes are down significantly from where they were a year ago.

You can still buy a home with little or no money down. You can buy a home with no money down with a VA Loan or a USDA Rural Development Home Loan. With the FHA Mortgage program, you can purchase a home with as little as 3.5% down. With a MassHousing Loan, you can purchase a home with no money down or with as little as 3.0% down. When you're ready to buy a home, find out how much house you can afford to buy in Bridgewater or in the surrounding area.

Be sure to contact me, Lew Corcoran, toll free at 1-800-984-3341, when you're looking to get pre-approved for a purchase of your next home in Bridgewater or in the surrounding area. Otherwise you may end up frustrated, disappointed and, unfortunately, perhaps misled.

The Trend in Home Sales in Bridgewater MA - Improving, or...?

Home prices in Bridgewater on average are rising! Home prices have risen 3.1% since June of 2009.

The current average listing price of homes for sale in Bridgewater MA is $306,818, down just 1.3% from a month ago. Compare this to the current median sales price of $268,000 - where half of sales are above this amount and half below it.

While prices of homes in Bridgewater on average are rising, 2 and 4 bedroom homes are selling for less. Prices of 2 bedroom homes are down 35.6% while prices of 4 bedroom homes are down 19.5% from a year ago. Prices of 1 and 3 bedroom homes are up. 1 bedroom homes are up 8.8% while 3 bedroom homes are up 8.4% from a year ago. Below is a chart of the trend of median prices of homes for sale in Bridgewater MA over the past 5 years through June 2010:

Bridgewater Recently Sold Homes

While cyclical, the number of sales have been increasing for all styles of homes in the past 5 years:

Bridgewater Recently Sold Homes

So what does all this mean? Well, if you're looking for a home in the town of Bridgewater, you better not mess around too much. Overall, sales are up, and prices of homes have risen in the past year. While sellers still aren't in control of this market, buyers should still be reasonable in their offers when negotiating.

You can still buy a home with no money down in Bridgewater with a VA Loan or with a USDA Rural Development Home Loan. With a MassHousing loan, you can purchase a home with as little as 3.0% down. And, with the FHA Mortgage program, you can purchase a home with as little as 3.5% down.

Be sure to contact me, Lew Corcoran, toll free at 1-800-984-3341, when you're looking to get pre-approved for a purchase of your next home in Bridgewater or in the surrounding area. Otherwise you may end up frustrated, disappointed and, unfortunately, perhaps misled.

Mortgage Rate Forecast for May 7, 2010

Here are some of the events affecting mortgage rates today:

What Mortgage Backed Securities Are Doing Today:

• The price of the FNMA 30-Year 4.5% MBS coupon opened at 101.56 this morning - the same as yesterday's close.
  
  
• At 9:30 AM, the 4.5% MBS coupon was trading at 101.50 - down 2/32 from its opening.

Remember, on mortgage backed securities (MBSs), as the price goes down, the yield goes up - and so do mortgage rates. I expect that mortgage rates will be up to 0.125 points or more worse in price this morning as compared to yesterday.

Price Trend in Mortgage Backed Securities:

The chart below shows the price trend of the FNMA 30-Year 4.5% coupon over the past 30 days from 4-7-2010 to 5-7-2010:

Economic Reports, News, and Events Affecting Mortgage Interest Rates Today:

• Employment Situation Report - according to the Bureau of Labor Statistics, non-farm payroll increased by 290,000 in April, much more than the 200,000 gain that was expected, and is the largest growth in jobs in 4 years. This follows a revised gain of 230,000 jobs in March, a revised gain of 39,000 jobs in February. Despite the increase in jobs, the unemployment rate increased to 9.9%. The labor market is showing notable improvement, and could help consumers regain optimism which in turn will strengthen the overall recovery. This data had a negative impact on the mortgage market this morning as prices of mortgage backed securities fell on the news. This lead to higher mortgage rates this morning.

In other news, investors continue to withdraw from the stock market and seek safer investments in US Treasuries and mortgage backed securities as the economic crisis in Greece continues. The Euro also continues to decline in value against the US dollar. This is helping to keep mortgage rates down today.

What's Happening With Mortgage Interest Rates Today:

Moderate to High Volatility. Mortgage rates are at their lows for 2010. While they rose significantly a several weeks ago when the Feds ended their MBS purchase program, they have since come back down. But this may be temporary.

The overall economy is improving and people are going back to work. However, the federal deficit continues to grow while demand for US debt is waning. We're also in the prime home selling and buying season. Historically, mortgage rates rise and fall with the thermometer. Usually from this time of the year and into the summer months, as the weather warms, mortgage rates rise.

Trend in Mortgage Rates:

The chart below shows the trend in mortgage rates over the past year:

The Bottom Line:

Mortgage rates continue to fall as the economic crisis in Europe worsens. While mortgage rates are at their lows for 2010, there's no telling how low mortgage rates will go or how long this will last. If you're happy with the interest rate being offered to you today and if you don't want to risk mortgage rates moving higher, then you should apply and lock in now. It's better to have locked when you should have floated than it is to float when you should have locked.

If I were applying for a mortgage today, I would lock the rate as mortgage rates are already at their lows for 2010, and they're probably as low as they're going to go. However, if I was willing to take a chance that mortgage rates may still go even lower, I would proceed with caution and maintain contact with my mortgage professional. I would be ready to lock in at a moment's notice as mortgage rates can change for the worse.

Be sure to check out today's mortgage rates.