31 Life Hacks That Will Change Your Life
If you can ignore the ads some of these SoGoodly 31 Life hacks are really quite useful.
Here are my favourites: (more…)
Open Houses weekend December 19/20
Here are this weekend’s Open Houses. This list will be updated on Sunday morning (because of the quirks of MLS some of the Sunday Open Houses don’t show up on Saturday.) (more…)
Would you like a 1% mortgage?
HSBC is offering a 5-year, variable rate mortgage at 0.99%. (more…)
What is the connection between airlines and real estate?
My guess is you are thinking either (a) you get on a plane to visit your winter residence, or (b) none.
Read on to find out why neither answer is right. (more…)
Open Houses Sunday December 13
Just a handful of Open Houses again – but there again there are not many properties on the market. (more…)
“Mortgage rates low, housing prices high for three years”
CoreLogic has released its Three-Year Housing and Mortgage Outlook and the report says millennials will add substantial demand for housing, while finding low rates and high prices.
“Low mortgage rates, growing numbers of first-time buyers, and gradually rising home values are three housing market trends we expect during the next three years.”
Here is a link to the full Corelogic report: Mortgage and Housing Market Outlook
Conforming Mortgage Loan Limits raised for 2021
Mortgage Markets Return to Normal
How Marblehead’s 2021 Property Tax Rate is Calculated
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReports.com. He’s assembled the most comprehensive analysis of Essex County we know of with market data and trends going back decades. It’s a great starting point for those looking in the towns of Marblehead, Salem, Beverly, Lynn and Swampscott.”
Open Houses Sunday December 6
Just a handful of Open Houses again – but there again there are not many properties on the market. (more…)
Mortgage Markets Return to Normal
Before delving into the details, let me show you the answer, the chart showing the spread – difference- between the 30-year Fixed Rate Mortgage (FRM), as reported weekly by Freddie Mac, and the yield on the 10-year US Treasury Note (10T):
In recent years the 30-year Fixed Rate Mortgage (FRM) has averaged a spread of about 1.7% above the yield on the US 10-year Treasury (10T). (more…)
New Listings week ending December 4
Just a handful of New Listings this week:
Click on these links for the New Listings: (more…)
Conforming Mortgage Loan Limits raised for 2021
The Federal Housing Finance Agency (FHFA) has announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2021. In most of the U.S., the 2021 maximum conforming loan limit for one-unit properties will be $548,250, an increase of 7.4% from $510,400 in 2020. FHFA has determined that the average U.S. home value increased by that amount between the third quarters of 2019 and 2020.
Essex County
The first table shows the limit both nationally and in Essex County in recent years, as well as the maximum home price that would qualify for a conforming loan. Since 2012 the limit has increased 31% nationally and 55% in Essex County.
Massachusestts (more…)
How Marblehead’s 2021 Property Tax Rate is Calculated
This article, which explains how the tax rate is calculated, is a follow up to Marblehead’s 2021 Property Tax Rate
The formula is actually very simple: take the $ amount of the previous year’s Tax Levy, add 2.5% for Proposition 2 1/2, and also add any New Growth (such as new construction or a condo conversion). This figure is the new tax levy. To this figure is added debt service – the Principal and Interest payable on the town’s debt. – to produce the new Tax Levy.
Here are the numbers for Fiscal Years 2020 and 2021, remembering that FY 2021 runs from July 2020 to June 2021. (more…)
Open Houses Sunday November 29
Some things don’t change. Normally there are few Open Houses on the Sunday after Thanksgiving. Well maybe a slight change – there are even fewer than usual. (more…)
Open Houses weekend November 28/29
Rather like the turkey by this stage, it’s slim pickings for this weekend’s Open Houses. This list will be updated on Sunday morning (because of the quirks of MLS some of the Sunday Open Houses don’t show up on Saturday.)
Click on these links for details:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open House
Lynn Open Houses
Mortgage Rates: Another new low
Goodbye Boston, Hello Marblehead
Why now is a GREAT time to sell (more…)
Last New Listings before Thanksgiving
These are the last New Listings before Thanksgiving: (more…)
Mortgage Rates: Another new low
As if in response to my questioning whether mortgage rates were about to rise in Mortgage Rates: another Head Fake or Early Warning? the 30-year Fixed Rate Mortgage (FRM) as reported by Freddie Mac dropped to yet another new low this week of just 2.72%.
This is the moment when you turn to a friend or family member – probably the latter at the moment – and say “when I bought my house in 19xx the rate was – fill in the blank, 7%,8% or whatever.” My highest was 7.3% in 1999. (more…)
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