Norwell, MA

A home inspector working in Norwell 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 Norwell MA Home Inspection web page from United Inspection Service for some useful information about homes in Norwell 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 Norwell MA Home Inspector web page for consumer information links ...

Norwell Massachusetts 2010 Homes and Condos Sold During Quarter 2

Norwell Massachusetts Single Family Homes Sold

The Norwell, MA 2nd quarter real estate market report indicates that there were 34 homes sold in Q2 2010 as compared to 29 in 2009. This represents a 17% increase in the number of homes sold. The average sales price changed from $652945 in 2009 to $587254 in 2010, a 10% decrease in value. The days on market changed 11 % from 121  to 134.

Visit North Reading MA real estate for information about the community, relocation, demographics, MLS search, home buying and selling guides.

Go to Norwell MA homes for sale to view current listings of homes, condos, multi-family and land listings.

Mortgage Rate Forecast for August 27, 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 103.28 this morning - the same as yesterday's close.
  
  
• At 10:00 AM, the 4.0% MBS coupon was trading at 103.08 - down 6/32 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 0.250 points 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 4.0% coupon over the past 30 days from 7-28-2010 to 8-27-2010:

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

• First Revision to the 2nd Quarter Gross Domestic Product (GDP) - the GDP in the 2nd Quarter of 2010 contracted to an annualized rate of 1.6%, but was more than the 1.3% growth rate that was expected. So far, this has been a jobless recovery, and this report confirms that economic growth is sputtering. This doesn't bode well for employment, and is raising fears that the nation's jobless rate could climb higher. The data usually does not have an impact on the mortgage market. However, this report led to higher pricing for mortgage rates this morning.
  
  
• University of Michigan's Index of Consumer Sentiment - came in with a reading this morning of 68.9, a little worse than expected, and reflects a weak jobs market. This index measures consumer willingness to spend and can usually have enough of an impact on the financial markets to change mortgage rates. This report indicates that consumers are not very likely to make many purchases. The consumer sentiment report did not have an impact on the mortgage market or mortgage rates this morning.

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 a few days last week 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 Norwell MA - Improving, or...?

Home prices in Norwell on average are falling! Home prices have fallen 5.4% since July of 2009.

The current average listing price of homes for sale in Norwell MA is $723,370, down 2.9% from a month ago. Compare this to the current median sales price of $482,500 - where half of sales are above this amount and half below it.

Prices of 3 and 4 bedroom homes are down from year ago levels. 3 bedroom homes are down just 0.7% while 4 bedroom homes are down 15.3%. Below is a chart of the trend of median prices of homes for sale in Norwell MA over the past 5 years through July 2010:

Norwell Recently Sold Homes

Although cyclical, the number of sales for all homes have been increasing over the past year:

Norwell Recently Sold Homes

So what does all this mean? Well, if you're looking for a 4 bedroom home in Norwell, you can probably find a bargain. Still, lowball offers won't cut it in a market like this.

However, if you're looking for a 3 bedroom home in Norwell, you better not mess around too much. While prices are down slightly, sales of these homes are increasing. 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. 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 Norwell 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 in Norwell or in the surrounding area. Otherwise you may end up frustrated, disappointed and, unfortunately, perhaps misled.