Hanover, MA

35 Old Shipyard Lane is located in the historic section of Hanover, MA, Plymouth County, with views of the North River. This shingle-style, custom built Colonial has architectural grade features throughout the home. 4-6 bedrooms, finished 3rd floor, 4 full, tiled bathrooms.

Built in Viking appliances, maple and cherry hardwood floors. The spacious family room has vaulted ceilings and custom built in cabinets and a wood-burning firplace.

From inside there are multiple access points to a spectacular wrap around covered porch and to the professional landscaped grounds with brick patio and walkways. Included are an irrigation system, security and whole house stereo and intercom system. With absolutely no deferred maintenance, this is the perfect home. Come see what wonderful surprises Hanover has to offer.

Offered at $945,000. Please call for more details or showings:

617.671.5711

johnm@riverfarmproperties.com

http://RiverFarmProperties.com

Five Guys Burgers has opened a restaurant on Route 53 in Hanover. The chain has two other restaurants in Massachusetts, one in Seekonk and North Dartmouth. The new Five Guys in Hanover is located next to the Target on Washington Street and has already received favorable reviews on Yelp and other online review sites. The chain is a Virginia-based company and has restaurants throughout the United States. Welcome Five Guys to Hanover!

Mortgage Rate Forecast for August 20, 2010 - Improving, or...?

Here are some of the events affecting mortgage rates today:

What Mortgage Backed Securities (MBS) Are Doing Today:

• The price of the FNMA 30-Year 4.0% MBS coupon opened at 102.78 this morning - the same as yesterday's close.
  
  
• At 9:30 AM, the 4.0% MBS coupon was trading at 102.75 - down 1/32 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 about the same 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 4.0% coupon over the past 30 days from 7-21-2010 to 8-20-2010:

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

• There are no economic reports scheduled for release today.

Trend in Mortgage Rates:

The chart below shows the trend in mortgage rates over the past 20 years:

Mortgage Rate Forecast:

Mortgage rates are at their historic lows. They haven't been this low since the early 1950s. These low mortgage rates may be with us for some time - or they may not. Usually, mortgage rates go up during the summer months during the peak home buying season, then go down as the fall and winter seasons approach. But these are not "normal times." It's possible that mortgage rates will continue to slowly fall. However, as the last couple of days have shown, they could turn at any time.

If you're thinking about refinancing your mortgage and if these low mortgage rates make sense to you, then take advantage of them while you can. If you're happy with the mortgage 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.

Are you in need of a mortgage to purchase a home? Or want to refinance an existing mortgage into a lower permanent fixed rate? Or want to take cash out of the equity of your home? Or consolidate debt and reduce the monthly bills? Then be sure to request a mortgage rate quote today!

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

Home prices in Hanover on average are rising! Home prices have risen 2.3% since July of 2009.

The current average listing price of homes for sale in Hanover MA is $542,289, down 3.2% from a month ago. Compare this to the current median sales price of $379,500 - where half of sales are above this amount and half below it.

Prices of 2 bedroom homes are down from year ago levels while prices of 3 and 4 bedroom homes are up. Prices of 2 bedroom homes are down 13.5% while prices of 3 bedroom homes are up 2.4% and 4 bedroom homes are up 35.8% from year ago levels. Below is a chart of the trend of median prices of homes for sale in Hanover MA over the past 5 years through July 2010:

Hanover Recently Sold Homes

Although cyclical, the number of sales for all homes have been fairly flat over the past 5 years:

Hanover Recently Sold Homes

So what does all this mean? Well, if you're looking for a home in Hanover, you can probably find a bargain. Still, lowball offers won't cut it in a market like this. Sellers aren't in control of the market either, so both buyers & sellers should be reasonable when negotiating.

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 Hanover 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 Hanover or in the surrounding area. Otherwise you may end up frustrated, disappointed and, unfortunately, perhaps misled.