An article on July was the best month for Mass. home sales since 2006, the Warren Group says was written by Boston Globe on August 29, 2013. More good news regarding Massachusetts Housing…..

Excerpt of “July Was The Best Month For Mass. Home Sales Since 2006, The Warren Group Says”

The number of Massachusetts single-family homes sold in July was up
more than 18 percent on a year-to-year comparison basis as the Bay
State had its best month for sales volume since June 2006, the
Warren Group said Thursday.

Condominium sales in the state were also up sharply. Meanwhile, the
median price of a single-family home rose 10 percent in July,
increasing to $349,000, said the Warren Group, a Boston company
that tracks local real estate activity.

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For questions on this topic, contact Peter DaMore, Attorney at Law Offices of Peter T. DaMore Jr. at 781-229-7900 or pdamore@ptdlaw.com.

An article regarding Massachusetts Home Sales Rose Sharply in April was written by Boston Globe on May 14, 2013. More encouraging housing news…..

Excerpt of “Massachusetts Homes Sale Rose Sharply In April”

There were 5,948 single-family Massachusetts homes put under agreement in April, up 32.8 percent on a year-to-year comparison basis, the Massachusetts Association of Realtors, or MAR, said Tuesday.

That was the most homes that have gone under agreement in any month since the association began tracking data in January 2004, the association said in a press release.

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For questions on this topic, contact Peter DaMore, Attorney at Law Offices of Peter T. DaMore Jr. at 781-229-7900 or pdamore@ptdlaw.com.

An article about Consumer Spending in U.S. Climbs by Most in Five Months was published by Bloomberg on March 29, 2013. More good news on the economy!

Excerpt of “Consumer Spending In U.S. Climbs By Most In Five Months”

Consumer spending climbed in February by the most in five months and confidence unexpectedly improved in March, showing job-market gains are helping Americans overcome tax increases and concern about federal budget cuts.

Purchases, which account for about 70 percent of the economy, rose 0.7 percent after a 0.4 percent advance the prior month that was bigger than previously estimated, according to Commerce Department data today in Washington. Another report showed consumer sentiment advanced to a four-month high.

Record stock prices and rising home values combined with gains in wages are helping households repair finances left in shreds by the recession, making it easier to cope with a two percentage-point increase in the payroll tax. The pickup in spending at retailers including Macys Inc. (M) is giving the worlds largest economy a boost just as efforts to narrow the budget deficit prompt government cutbacks.

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For questions on this topic, contact Peter DaMore, Attorney at Law Offices of Peter T. DaMore Jr. at 781-229-7900 or pdamore@ptdlaw.com.

An article about Home Prices Are Accelerating Across the U.S. was written by Dow Jones Business News on March 26, 2013. Great article. Housing is coming back!!

Excerpt of “Home Prices Are Accelerating Across The U.S.”

Home-price appreciation is accelerating in much of the U.S., offering the latest confirmation that the housing market is turning after the most severe property downturn since the Great Depression.

Prices rose by 8.1% in January from a year earlier, the largest such gain in 6 1/2 years, figures from the S&P/Case- Shiller index of home prices in 20 major metropolitan cities released Tuesday show. All 20 cities posted annual increases.

Read more: http://www.nasdaq.com/article/home-prices-are-accelerating-across-the-us-20130326-00947#ixzz2Ol4ilYEd

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For additional information on this topic, contact Peter DaMore, Attorney at Law Offices of Peter T. DaMore Jr. at 781-229-7900 or pdamore@ptdlaw.com.

An article about Burlington Home Sales Up 28 Percent in 2012 was written by Burlington Patch on February 4, 2013. WOW!! Great news for the Burlington, MA housing Market……

Excerpt of “Burlington Home Sales Up 28 Percent In 2012”

Burlington saw a 40.13 percent increase in single-family home sales
in 2012, according to statistics gathered by the Warren Group, the
Boston-based real estate and banking information publishers for New
England.

Year-end numbers show Burlington at 213 single-family home sales,
compared to 152 sales in 2011.

In December, 18 single-family homes were sold in Burlington, a 28.5
percent increase over the number sold in December 2011.

According to a Warren Group press release, 2012 Massachusetts home
sales were the highest in six years, increasing 18 percent in 2012.
In all of 2012, the total number of homes sold statewide were
46,887, an increase from 39,594 home sales in 2011.

In addition to sales, median prices for single family homes in
Burlington also saw a rise in 2012, increasing from $358,500 in
2011 to $385,000 in 2012, or a 7.4 percent jump.

Statewide, median price for homes sold January through December was
up to $300,000, a 12 percent increase from $267,250 the prior year.

Condominiums sales in Burlington were on the decline in 2012. At
the end of 2012, 40 condos had been sold in town, compared to 42 in
2011, a 4.7 percent decrease.

The median condo price also dropped 12.82 percent from $410,000 to
$357,450.

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For questions on this topic, contact Peter DaMore, Attorney at Law Offices of Peter T. DaMore Jr. at 781-229-7900 or pdamore@ptdlaw.com.

An article about Steady US housing recovery is boosting economy was published by on November 19, 2012. More positive news on housing and the economy…..

Excerpt of “Steady US Housing Recovery Is Boosting Economy”

WASHINGTON (AP) From purchases and prices to builder sentiment
and construction, the U.S. housing market is making consistent
gains.

The latest evidence came in reports Monday that sales of previously
occupied homes rose solidly in October and that builders are more
confident than at any other time in 6 years.

New-home sales and home-price indexes have reached multi-year
highs. And Lowes Cos. on Monday reported a surge in net income, a
sign that home-improvement retailers are benefiting.

The housing markets recovery still has a long way to go. But for
now, its helping prop up an economy thats being squeezed by a
global slowdown and looming spending cuts and tax increases.

Joseph LaVorgna, an economist at Deutsche Bank, estimates that the
housing recovery could boost U.S. economic growth by a full
percentage point next year. Thats because a stronger housing
market would mean more jobs, especially in industries like
construction, and more consumer spending.

Housing could provide a meaningful and critical lift to
overall economic activity when other growth drivers, like exports,
are slowing, LaVorgna said.

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An article about Sales of existing homes rise 2.3% in July was published by Wall Street Journal on August 22, 2012. More positive news regarding the housing recovery…..

Excerpt of “Sales Of Existing Homes Rise 2.3% In July”

WASHINGTON (MarketWatch) Sales of existing homes in the U.S. rose 2.3% in July, as low mortgage rates, rising rent and some job creation led to a modest rebound, a trade group said Wednesday.The National Association of Realtors said sales increased to a seasonally adjusted annual rate of 4.47 million from 4.37 million in June.Economists polled by MarketWatch had anticipated a 4.5 million rate.Compared to July 2011, sales climbed 10.4%, the 13th straight year-on-year gain.Year-to-date, sales were up 8.6%, demonstrating the improvement that has taken place in a market recovering from the burst of the housing bubble.Lawrence Yun, chief economist at the NAR, said improving affordability and the economic backdrop are helping housing even as he said housing was underperforming the fundamentals of the economy.

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An article about What your home is really worth was published by CNN Money on August 9, 2012. Great article on what appraisers look at to value homes……

Excerpt of “What Your Home Is Really Worth”

NEW YORK (Money Magazine) — When it comes to assessing a home’s value, real estate agents and homeowners tend to be an optimistic bunch.In the post-bust world, appraisers are a different story. They have to predict a realistic value for your home that the bank can use to extend credit to a borrower — and that number can make or break your sale or refinance.Appraisers say the following five areas are where homeowners often misjudge the worth of their abode.1. The outsideThe appraiser sees: Overgrown bushes and chipped paint.What he does: Slices as much as 3% off the value of an average-size home.Why: Curb appeal is primo. And an unkempt yard is a sign that there may be other issues.

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For additional information on this topic, contact Peter DaMore, Attorney at Law Offices of Peter T. DaMore Jr. at 781-229-7900 or pdamore@ptdlaw.com.

An article about Warren Group: June foreclosure petitions drop to lowest monthly level so far in 2012 was published by Boston.com on July 19, 2012. More good signs for the housing market…..

Excerpt of “Warren Group: June Foreclosure Petitions Drop To Lowest Monthly Level So Far In 2012”

In June, the monthly total of foreclosure petitions in Massachusetts fell below 1,300 for the first time this year, the Warren Group said Thursday morning, and completed foreclosures also dropped.The Warren Group, a Boston firm that tracks local real estate, cited an improving economy and an active housing market as the reasons for the slower pace of foreclosure petitions.Foreclosure petitions mark the first step in the foreclosure process in Massachusetts.In June, 1,254 foreclosure petitions were recorded in the Bay State, a 29.5 percent drop from May. But year-over-year foreclosure petitions rose almost 27 percent in June, from 990 in June 2011, the Warren Group said.Completed foreclosures fell nearly 24 percent to 715 in June, down from 936 deeds in June 2011. This is the first time since September 2011 that foreclosures have posted a year-over-year decline, the firm said.In a statement, Warren Group chief executive Timothy M. Warren Jr. said: Its pretty significant to see foreclosure petitions drop by almost 30 percent from just a month ago. I believe that an improving economy, more jobs, and an active real estate market are having an impact and giving us a moderating trend in foreclosures.Last year, there was a lull in foreclosures when lenders home-seizure practices became the subject of nationwide scrutiny.In his statement, Timothy Warren said, After such a slow year for foreclosures in 2011 that left many distressed properties in limbo, we are starting to see banks work their way through the backlog.

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For questions on this topic, contact Peter DaMore, Attorney at Law Offices of Peter T. DaMore Jr. at 781-229-7900 or pdamore@ptdlaw.com.

An article about Mass. Association of Realtors: Pending home sales rise for 14th month in a row was published by Boston Globe on July 11, 2012. …….Positive signs for the Massachusetts Housing Market. Great time to buy or sell!

Excerpt of “Mass. Association Of Realtors: Pending Home Sales Rise For 14th Month In A Row”

The number of Massachusetts homes put under agreement in June went up for the 14th straight month on a year-to-year basis, the Massachusetts Association of Realtors said Wednesday.There was concern that the momentum from the spring market might slow, but the numbers for pending sales in June suggest that new buyers are continuing to enter the market, the association said.The number of Bay State single-family homes put under agreement in June was up 29.1 percent compared with the same time last year — 4,085 homes in June 2011 versus 5,273 homes in June 2012, the association said. Compared with May 2012, pending home sales were essentially flat.The number of condos put under agreement in June was also up 29.1 percent —1,572 units in June 2011 versus 2,029 units in June 2012. Compared with May 2012, pending condo sales for June were down 8.4 percent, the association said.

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