Have house prices gone up too far?

I read yet another “warning” this week of an impending housing bubble and so I decided to put together a very simple table showing what has happened in recent years in the stock market compared with the housing market. I have used the Dow Jones 30 share index and the Case-Shiller 20 city index (which reports in arrears).

Here are the results:

Dow Jones vs Case-Shiller

The dates chosen represent the peaks and troughs in these indices.

Any one see a housing bubble there?

If you are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 781.631.1223 or andrew@HarborsideRealty.com.

Andrew Oliver is a Realtor with Harborside Realty in Marblehead.


Mortgage rates drop as Fed blinks

On Wednesday, when it was widely expected that the Federal Reserve would announce plans to start reducing its purchases of mortgage backed securities (MBS)* this month, it surprised the market by announcing that the start of the slow down – the taper – would be delayed. The result was a drop of about 1/4% in mortgage rates. (more…)

Marblehead Oceanfront Open House Sunday 12-2

This spectacular oceanfront compound offers an elegantly restored, south facing, sun-drenched 6,265 sq. ft. main home with 15 spacious rooms including 7 bedrooms and 4 1/2 baths. Uniquely protected from coastal storms.

Plus Marblehead’s most stunningly located carriage house offers an additional 2,404 sq. ft., perfect for the extended family, nursing home alternative – or weekend retreat. Access to a private beach. Wonderful neighborhood and potential for a private mooring. (more…)

Signs of life at higher end of market

I have commented before that I have been surprised at the low level of activity at the higher end here on the North Shore compared with Boston and its immediate neighbors. I have pondered – hoped? – that maybe it was a timing issue.

Well there does seem to be some activity developing. Since the start of the third quarter (July 1), there have been sales in the $2-3 million range in Andover, Manchester and Swampscott; in the $3-4 million range in Manchester; and $4-5  million in Hamilton and Manchester. (more…)

Outlook for mortgage rates

I have commented before that HSH Associates (HSH.com) publishes very good commentary on the mortgage market.
In this week’s article (which will be on their website on Monday) they point out:

Marblehead: median list price $995,000; median sale price $532,000

The median list price of Single Family Homes (SFHs) in Marblehead currently available for sale is $995,000, whereas the median price of SFHs sold in the first 8 months of 2013 is just $532,000. Why the difference?

First the inventory numbers. It is very clear just how short of inventory the market is under $750,000 and under $500,000 in particular. These numbers were as of September 1st. This shortened week saw 4 more houses under $500,000 receive an accepted offer (including one that was listed this week), so there are now just 6 SFHs available in Marblehead under $500,000. And 106 have sold in the last year. Wow! (more…)

Condo market tightens

Overall supply for the North Shore condo market tightened as of September 1st to just 3.4 months of supply, down from 4.7 months earlier in the summer. As with SFHs, supply is tightest at lower price levels. (more…)

Massachusetts housing inventory: very little available at lower prices

August generally does not see a lot of new properties coming to the market, while anxious buyers are inclined to snap up what is available before the start of the school year. Thus, supply should tighten, at least in theory. And as the last table in this post shows, the inventory of SFHs under $500k for all 17 North Shore cities and towns I follow, represented just 2.1 months of supply at the beginning of September, whereas 6 months is generally regarded as being a market in equilibrium.

Marblehead Oceanfront Open House Sunday

What better way to spend Sunday than to drive to Marblehead, have a leisurely brunch at one of our fine restaurants, and then visit this spectacularly located property which contains a main house and a fully restored carriage house sitting directly on the ocean’s edge, while being uniquely protected from storms. (more…)

Massachusetts home sales reach highest level since 2004

According to the Massachusetts Association of Realtors (MAR) July Report sales of Single Family Homes (SFHs) in July rose 20% from a year ago, while the median price at $350,000 increased by 8%. The number of sales was the highest in one month since July 2004. (more…)

Missing in Action: Reflections on Mimi’s disappearance and return

This Column was published yesterday in the Marblehead Reporter online edition.

Mimi came home yesterday!

As I posted Mimi’s absence here I should also post the wonderful news that she is back home! (more…)

Mimi sightings on Lucia and Treat: please keep a look out!

There has been another possible sighting yesterday on Lucia Road (not far from the Treat sighting on Sunday). I’m off to post this new flyer, which will be in the Reporter on Thursday. Please call 781.631.1223 with any possible sighting! Thank you.


My daughter’s cat is missing: please help us find her

The last 3 days have been consumed with trying to find Mimi, my daughter’s indoor cat, who disappeared Tuesday night/Wednesday morning from Crown Way, Marblehead. This is she: (more…)

Would you like to see this sign at your house?

Sold: 36 Crestwood Road

How a house is presented to the market has a major influence on how quickly it sells and at what price. 90% of buyers use the internet in their home searches.

For this house I had a website, www.36Crestwood.com with interactive floor plans.

I used Facebook marketing which resulted in more than 400 clicks on the website in one weekend.

If you are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 781.631.1223 or andrew@HarborsideRealty.com