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NORTH ANDOVER REAL ESTATE - Week of March 5th, 2012

03-11-12
Praful Thakkar - Real Estate Consultant Andover Homes For Sale North Andover
Praful Thakkar - Real Estate Consultant Andover Homes For Sale North Andover: Real Estate Agent in Andover, MA
  • view my blog
  • Office: (978) 475-2111
  • Mobile: (508) 314-1640
NORTH ANDOVER Real Estate - Week Of March 5th, 2012


Here is a snapshot of real estate market for single family homes in NORTH ANDOVER, MA for the week of March 5th, 2012. (Source: AltosResearch)


 For Week of March 5th, 2012
Median Price$510,000
Average List Price$554,587
Average Days on Market187
Number of Homes On Market98
Median House Size2592 sq.ft.
Market Action Index15.3 - Strong Buyer's


Data provided by ©2011 Altos Research LLC.

The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.

The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.

The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.

SEARCH ALL AVAILABLE NORTH ANDOVER HOMES FOR SALE, LIKE I DO!

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Blog_tag

ANDOVER REAL ESTATE - Week of March 5th, 2012

03-11-12
Praful Thakkar - Real Estate Consultant Andover Homes For Sale North Andover
Praful Thakkar - Real Estate Consultant Andover Homes For Sale North Andover: Real Estate Agent in Andover, MA
  • view my blog
  • Office: (978) 475-2111
  • Mobile: (508) 314-1640
ANDOVER Real Estate - Week Of March 5th, 2012


Here is a snapshot of real estate market for single family homes in ANDOVER, MA for the week of March 5th, 2012. (Source: AltosResearch)


 For Week of March 5th, 2012
Median Price$654,900
Average List Price$750,374
Average Days on Market169
Number of Homes On Market96
Median House Size2950 sq ft.
Market Action Index16.6 - Strong Buyer's


Data provided by ©2011 Altos Research LLC.

The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.

The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.

The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.

SEARCH ALL AVAILABLE ANDOVER HOMES FOR SALE, LIKE I DO!

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Newburyport Real Estate Home Inspections Electrical: Fuses

02-28-12
John P. Wells
John P. Wells: Real Estate Media in Newburyport, MA
  • view my blog
  • Office: (978) 462-9733
  • Mobile: (978) 518-1481
Realtor John P. Wells interviews Andy Consoli of ABC Home Inspections as he checks out an older electrical system. Find out what you should do about an old fuse box in the Newburyport home you want to buy.
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Newburyport MA Real Estate Home Inspection with ABC Home Inspections

02-28-12
John P. Wells
John P. Wells: Real Estate Media in Newburyport, MA
  • view my blog
  • Office: (978) 462-9733
  • Mobile: (978) 518-1481
John P. Wells interviews Andy Consoli of ABC Home Inspections as he checks out an older boiler. Find out what you should do about an old boiler in the Newburyport home you want to buy
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Newburyport MA Short Sales

02-28-12
John P. Wells
John P. Wells: Real Estate Media in Newburyport, MA
  • view my blog
  • Office: (978) 462-9733
  • Mobile: (978) 518-1481

Newburyport MA Short Sales

Unlike neighboring Amesbury MA, Newburyport MA short sales are rare. The reason for this is simple; real estate values in Newburyport have not suffered that much. Short sales occur when people owe more on their homes than their home is worth, and have suffered a hardship that makes it difficult or impossible for them to keep the house. If the value of the home is worth more than the mortgage, there is no reason for a short sale. Newburyport values are such that there is rarely a reason for a short sale.

Banks may be forgiving some of the seller debt, but they don’t like to give away money. They want the house to sell reasonably close to market value. Banks have become much more efficient in handling short sales so they are no longer as complex or need to take months to accomplish. A year ago I was still avoiding them, now I am doing them on a regular basis in some communities.

The homeowner doesn’t really care about the price of the home as long as the bank approves the sale and forgives the balance of their debt. Between this and the bank wanting a reasonable price, you will find that short sales are priced to sell, based upon market value. Many homes on the market may be overpriced because the seller refuses to accept real value and their Realtor takes the listing anyway. That generally will not be the case with short sales.

Unfortunately, some Realtors are still pricing short sales at unrealistically low prices to collect offers to send to the bank. Beware of pricing that seems too good to be true – the lender won’t go along with it and you will be wasting your time.

Call us and let us help you in your search for a home

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