Open Houses TODAY
Open Houses are on Saturday this weekend:
Marblehead Open Houses
Swampscott Open House
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Spring Cleaning tips
Here are some spring cleaning tips from the Boston Globe:How to spring clean like a Pro
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
New Listings mid-week April 17
Easter, Passover and School Vacation week – a trifecta of events leading to a fairly slow week for new listings:
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
Lynn new listings
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Rutter Requiem tonight in Marblehead
This hauntingly beautiful Requiem is the main feature of tonight’s concert at 7:30 pm at Old North Church, 35 Washington Street in Marblehead. Admission is free to this 70 minute concert and a free-will offering will be accepted:
Open Houses Sunday April 14
Today’s Open Houses in Marblehead, Swampscott, Salem, Beverly and Lynn:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Open Houses weekend April 13/14
Here the Open Houses this weekend (check tomorrow’s post for an updated list for Sunday):
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
New Listings week ending April 12
New Listings are starting to pick up:
Marblehead new listings
Swampscott new listings
Salem new listinngs
Beverly new listings
Lynn new listings
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Open Houses Sunday April 7
Here are today’s Open Houses. Please also read also Housing Supply Jumps Sharply.
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Mortgage rates rise as yield curve reverts to normal shape
The spread between the 3 month (3M) and 10 Year (10T) Treasury yields, which gained so much attention two weeks ago when it inverted (meaning the yield on the 3 month Treasury was greater than on the 10 Year; read Treasury yield curve inverts: what it means for the housing market ), actually lasted just 5 days before reversing, as the yield on 10T increased to 2.5%, largely on evidence that the US economy continued on the path of steady, albeit slow, growth. Meanwhile, inflation remains subdued.
The result is that the cost of a 30 year Fixed rate Mortgage (FRM) edged up a little last week to 4.08%. One might have expected the rate to be higher; remember the rule of thumb is the yield on 10T plus 1.7%, which would imply a FRM of 4.2%.
It appears that mortgage lenders may have held rates down to encourage borrowing. If so, they were successful as Freddie Mac reported: “Purchase mortgage application demand saw the second highest weekly increase over the last year and thanks to a spike in refinancing activity, overall mortgage demand rose to the highest level since the fall of 2016.”
At a time when the rest of the world is suffering from a significant slow down in economic activity, the US economy continues to grow steadily. Chains has already started to stimulate its economy and others may need to. The big potential positive is a trade deal with China. Depending upon what was accomplished, such a deal could remove the self-inflicted damage that tariffs have imposed on the US economy.
Forgive me if this gets boring, but for the third time in recent months (after the stock market’s sharp sell off in December and following the rally in the first quarter this year) I repeat that: “the likelihood for 2019 is a slowing, but still growing, economy and a stable housing market.”
And it is still possible to get a mortgage for around 4% (call me for an introduction to a lender offering a 30 year mortgage with no points for 3.99% up to $2 million).
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Open Houses weekend April 6/7
Here are this weekend’s Open Houses. Please check back for tomorrow’s post for an updated list of Sunday Open Houses. And read also Housing Supply Jumps Sharply.
Marblehead Open Houses
Swampscott Open Houses
Beverly Open Houses
Salem Open Houses
Lynn Open Houses
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
New Listings week ending April 5
Here are the latest new listings (read also Housing Supply Jumps Sharply):
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
Lynn new listings
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Housing Supply Jumps Sharply
I have been reporting for some time the increase in the number of homes for sale, Year over Year (YOY) in Essex County (see charts below) but first I want to highlight the big jump in the numbers just this week as we head into the spring selling season.
Here are the numbers for the 34 cities and towns of Essex County:
That’s right, a 16% increase in the number of Single Family Homes(SFH) for sale and 8 % increase in the number of Condos in just 4 days!
More inventory means more choices for buyers at a time when mortgage rates are back near 4% after flirting with 5% as recently as last November.
Now, here are the charts for the last 3/4 years. The supply of SFHs in April increased, YOY, for the 10th consecutive month.
Condos
And the supply of condos for sale increased, YOY, for the 11th consecutive month.
Comment
In late December in Is a recession coming soon? I wrote: “the likelihood for 2019 is a slowing, but still growing, economy and a stable housing market.” Recent economic data confirms that the US economy remains on the path of steady growth. What has changed since December is that the 30 year Fixed Rate Mortgage is close to 4% vs 4.5% then.
Mid-week New Listings
As we head into spring and increased activity I am resuming publication of new listings on both Wednesdays and Saturdays.
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
Lynn new listings
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Open Houses Sunday March 31
It may be damp today, but it is mild for these Open Houses:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Open Houses weekend March 30/31
Here are this weekend’s Open Houses (as always, check tomorrow’s post for an updated list) :
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
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