Wednesday, January 29, 2014

Single Family Home Inventory in Beverly at 10 Year Low in Critical Market Segment

Single Family Home
The inventory of single family homes for sale in Beverly in the price range of $300,000 to $399,999 is at a 10 year low for January. 

Single family homes selling between $300,000 and $399,999 typically account for 30% or more of the total units of single family homes sold annually in Beverly. In 2013 it was 35% of total single family home units sold. How thin is the inventory in this critical market segment? As January draws to a close, there are only 2 single family homes in this price range actively on market; the average over the past 10 years for this point in time is 27.

Across all price points, single family home active inventory in Beverly is down significantly from this point last year.

If you have been thinking about moving and wondered if it was a good time to sell, now is certainly the time to call or stop in to your Beverly Coldwell Banker Residential Brokerage Office and speak with a residential sales and marketing specialist about the market value of your home.

Karen Fogarty

Coldwell Banker Residential Brokerage
50 Dodge Street, Suite 105, Beverly, MA. (978)927-1111

Thursday, January 9, 2014

5 Things You Don't Need In Your Home in 2014

Welcome to the New Year. It’s now time for everyone to tell you what you should be doing this year to improve your life, your career, your feelings, your indigestion, etc.
While everyone shares their advice for the new year, I wanted to share things you shouldn’t worry about adding to your home in 2014. You may agree. You may disagree. But either way I welcome the discussion. So here we go.

1. A Blu-Ray DVD Player
All those Blu-Ray DVDs you got back in 2009. Sell them on eBay immediately. Blu-Ray’s will soon be obsolete as we move further into the world of digital entertainment. My bet is in the next few years they become discontinued as digital movies and on-demand service become the primary means of enjoying Hollywood in your home.

2. A Home Phone
If you’re paying for home phone service, stop reading and call up your phone company and cancel. Chances are you’re not paying much for it, but it’s still an unneeded expense. Cell phones have already become the primary means of communication in our homes and the trend is sure to continue in 2014. But what about for emergencies? You’re better off buying a disposable cell phone with a limited minutes plan on it and storing it in your kitchen. Chances are you won’t use all the minutes on it anyway. Another excuse used to be that home security systems required a home phone line. Nowadays many security companies can connect to your home’s internet service and ping your cell phones for emergency. Be sure to call and inquire if your security service offers that.

3. A Smart TV
Much like the Blu-Ray, the Smart TV will become obsolete. I know, I know. Every TV manufacturer is touting one and this year’s Consumer Electronics Show will have millions of Smart TV’s on display, but I’m telling you don’t buy one if you have an Apple TV, Google Chromecast, Xbox, Playstation, or Roku. The user interface on Smart TV’s is far from user friendly and most of them offer nothing more than what you can experience with any of the devices I just listed connected to your TV. All you want in your TV at home is an exceptional picture quality. Your DVR, gaming system or entertainment add-on can offer better experiences and the same breadth of services as a Smart TV.

4. A Drip Coffee Pot
Unless you have a Starbucks-sized, high-end drip coffee maker that allows you to make espresso, coffee and lattes, you don’t need drip coffee pot. Get yourself a Keurig and enjoy your coffee in an instant without it tasting like instant coffee.

5. Full Price Cable TV
You will read a ton about how you don’t need cable TV in your home. You could be a “cord cutter” and just use YouTube, Netflix, Hulu, etc. for your home entertainment. That’s true. You could as long as you no longer have a desire to watch live sports, awards shows, local news, or just enjoy a good channel surf on a Sunday afternoon. What you should do is cut the cost your paying for cable. You don’t need to pay full price as many cable operators are seeing a decrease in subscribers. Many of them are willing to offer deals and discounts to keep existing customers from switching to another company or cutting them all together. Now is the time for cable negotiations if you’re not quite ready to cut your TV service all together.

Let me know what you think isn’t needed in your home this year in the comments.

Jay Burnham, Premier Agent
Coldwell Banker Residential Brokerage, North Shore

Thursday, January 2, 2014

Biggest Real Estate Story of 2013

Homeowners’ net-equity holdings soared by $2.2 trillion between the third quarter of 2012 and the third quarter of 2013, according to new data collected by the Federal Reserve.

This is a record rebound for a 12-month period.

A new research study released by CoreLogic, a real estate and mortgage data firm, estimated that 791,000 homes moved from negative to positive equity status during the third quarter of 2013 alone, and more than 3 million have done so since the beginning of 2013.

Though 6.4 million homes continue to be underwater on their mortgage debt — 13 percent of all homes with a mortgage — that is down from 7.2 million (nearly 15 percent) as recently as the end of the second quarter.

The gains are crucial because as more homeowners get out from underwater, they can sell without bringing money to the closing table, borrow against their homes to help pay for home improvements and other expenses, or refinance their mortgages.

Jay Burnham, Premier Agent
Coldwell Banker Residential Brokerage, North Shore