Stop by Ipswitch river park for Fall fest 2011!
Contacst us with any questions. Hope to see you there!
Home prices post fourth month of gains – From IMNAN NEWS
Case-Shiller indices show Las Vegas, Phoenix losing ground in July
BY INMAN NEWS, TUESDAY, SEPTEMBER 27, 2011.
U.S. home prices inched up for the fourth month in a row, rising 0.9 percent from June to July, according to the latest Standard & Poor’s/Case-Shiller Home Price Indices. Only two of the 20 metro areas tracked by the Case-Shiller 20-City Composite saw month-to-month price declines: Las Vegas (-0.2 percent) and Phoenix (-0.1 percent). The index showed prices in Las Vegas down 59.3 percent from their August 2006 peak, hitting a new low. Looking back a year, 18 out of 20 metro areas saw annual price declines, with the price index for Minneapolis falling 9.1 percent, Phoenix down 8.8 percent, and Portland, Ore., dropping 8.4 percent. Detroit (up 1.2 percent) and Washington D.C. (up 0.3 percent) were the only cities to post annual gains in July, leaving the 20-City Composite down 4.1 percent. But a dozen other cities — Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Las Vegas, Miami, Minneapolis, Phoenix, Portland, and Tampa — posted improvements in annual price declines compared to June.Metros tracked in Case-Shiller 20-City Composite
|
Metro |
Change June-July |
Change from year ago |
|
Atlanta |
0.2% |
-5.0% |
|
Boston |
0.8% |
-1.9% |
|
Charlotte |
0.1% |
-3.9% |
|
Chicago |
1.9% |
-6.6% |
|
Cleveland |
0.8% |
-5.4% |
|
Dallas |
0.9% |
-3.2% |
|
Denver |
0.0% |
-2.1% |
|
Detroit |
3.8% |
1.2% |
|
Las Vegas |
-0.2% |
-5.4% |
|
Los Angeles |
0.2% |
-5.4% |
|
Miami |
1.2% |
-4.6% |
|
Minneapolis |
2.6% |
-9.1% |
|
New York |
1.1% |
-3.7% |
|
Phoenix |
-0.1% |
-8.8% |
|
Portland |
1.0% |
-8.4% |
|
San Diego |
0.1% |
-5.9% |
|
San Francisco |
0.3% |
-5.6% |
|
Seattle |
0.1% |
-6.4% |
|
Tampa |
0.8% |
-6.2% |
|
Washington, D.C. |
2.4% |
0.3% |
|
10-City Composite |
0.9% |
-3.7% |
|
20-City Composite |
0.9% |
-4.1% |
Source: S&P Indices and Fiserv Standard & Poor’s said the report included some “unusually large revisions” across some metro areas. Detroit was the most affected, with additional sales in May and June showing “a much healthier market than previously thought.” 
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Boston Real Estate is Outperforming most of the CountryM
Boston is # 3 as monthly chage is up 2.4% from May, and # 3 as prices only declined 2.1% from last year ( while we had the tax credit)
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Stoneham Market Snapshot – Condos Aug 2011
Sales have decreased since last year about 24%. (Somewhat expected due to tax credit) During the last 2 months however, there has been a severe decrease in homes coming under agreement while the amount of homes for sale has stayed relatively flat (65 homes). This amount of extra inventory makes it very favorable for buyes, but makes it much more challengng for sellers.
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National Real Estate News- Boston outperforms 24 of 25 top metro areas
See full article here http://bit.ly/prYOk8
A bumby road is predicted ahead in real estate… However , we are lucky in the Boston area that we are outpreforming the national market. Numbers are only slightly down from last year, not bad considering we had the tax credit then. Many communities we service are also much less than 20% off from the peak.
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A Great time to buy
With all that is doing on in the news, it makes sense why many of us are are nervous. Check out this great graphic from The KCM crew. It illustrates how basic supply and demand ( and fear) apply in real estate.
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