FRIDAY FACTS
June 24, 2011
ALL PROPERTY TYPES YEAR TO DATE COMPARISON CCIMLS
County/Barnstable Town/Falmouth Town/Mashpee Town/Bourne
Date Range: 1/01/11 1/01/10 1/01/11 1/01/10 1/01/11 1/01/10 1/01/11 1/01/10
Thru Thru Thru Thru Thru Thru Thru Thru 6/15/11 6/15/10 6/15/11 6/15/10 6/15/11 6/15/10 6/15/11 6/15/10
Under $100,000 62 55 5 4 5 1 4 4
$100,000-$199,999 285 257 15 17 22 20 26 15
$200,000-$299,999 414 488 51 59 28 27 25 32
$300,000-$399,999 293 375 51 58 17 16 6 19
$400,000-$499,999 191 189 26 35 12 9 6 11
$500,000-$599,999 121 122 20 25 3 7 5 4
$600,000-$999,999 145 174 18 44 12 12 1 6
1,000,000-1,999,999 69 57 8 9 3 2 2 3
2,000,000-3,374,999 15 18 2 2 1 0 0 0
3,375,000-5,999,999 1 7 0 0 0 0 0 0
Total 1596 1742 196 253 103 94 75 94
HIGH END:
From Banker & Tradesman: “Sales of $1 million-plus homes in Massachusetts took a big hit during the recession, and despite a mini-rally last spring, have yet to fully recover, according to data obtained from the Warren Group. The decline in very high-end homes was gradual at first, with the number of $1 million-plus sales barely budging from the 2,300 to 2,400 – per year mark in 2006 and 2007, even as the rest of the real estate market began to tank. With the near-collapse of the global financial system in 2008, high end sales dropped 25% statewide down to 1,800 for all of 2008. As the worst recession in generations kicked in, sales of homes worth $1 million and more took another dive in 2009, to 1,400. By the end of 2010, sales of home $1 million an up rose to 1,760. In the first quarter of 2011, 260 homes above $1 million sold in MA, the exact same number as the first quarter of 2010.”
KEEP IT IN PERSPECTIVE:
Here’s our quote of the day from Steve Murray in RealTrends: “Still, over 5 million homes will be bought and sold this year, and that activity will generate over $35 billion in residential commissions. So stop worrying about double dips and start focusing on how you are going to grow your share of that market and do so profitably.
END WITH A LAUGH:
In the category of “spin”: A headline in RISMedia said, “May Home Prices Spring Back”. The first sentence in the article read: “Home sale prices continued a downward trend in May – but only half as far and half as fast as in April …”
Friday, June 24, 2011
Friday, June 17, 2011
Friday Facts June 17, 2011
FRIDAY FACTS
June 17, 2011
NAR’s recently released 2011 Realtor Profile puts the median age of a Realtor at 56, up from 54 last year. 12% were under 40, 50% were between 40 and 59, and 38% were above 60. 57% were female.
Hitwise rankings of Internet real estate sites for April were: #1-Realtor.com with 6.5% market share, #2-Yahoo Real Estate 6.10%, #3-Zillow 5.52%, #4-Trulia 4.75%, and #5-AOL Real Estate 2.91%
Inman News notes that April foreclosure starts fell below 200,000 for the first time in years, but cautioned that there are more than 4 million homes are already in foreclosure and more than 90 days delinquent.
LinkedIn Today reports that the Case Shiller National Home Price Index was down 4.2% in Q1 of 2011 after a drop of 3.6% in Q4 of 2010. The National Index, the 20 City Composite, and the 12 MSA’s (Metropolitan Statistical Areas) all hit new lows through March 2011.
The Real Trends Blog gave tips on show casing the stand out features of your open house:
Display features and benefits visually. For example, a solid oak front door with heavy duty hardware heightens security and minimizes exterior noise. Create a tent card noting that.
Provide custom display boards with neighborhood market data such as DOM stats, and recent pending and sold information
Display a community board with population, demographics, parks, services, schools, shopping, etc.
June 17, 2011
NAR’s recently released 2011 Realtor Profile puts the median age of a Realtor at 56, up from 54 last year. 12% were under 40, 50% were between 40 and 59, and 38% were above 60. 57% were female.
Hitwise rankings of Internet real estate sites for April were: #1-Realtor.com with 6.5% market share, #2-Yahoo Real Estate 6.10%, #3-Zillow 5.52%, #4-Trulia 4.75%, and #5-AOL Real Estate 2.91%
Inman News notes that April foreclosure starts fell below 200,000 for the first time in years, but cautioned that there are more than 4 million homes are already in foreclosure and more than 90 days delinquent.
LinkedIn Today reports that the Case Shiller National Home Price Index was down 4.2% in Q1 of 2011 after a drop of 3.6% in Q4 of 2010. The National Index, the 20 City Composite, and the 12 MSA’s (Metropolitan Statistical Areas) all hit new lows through March 2011.
The Real Trends Blog gave tips on show casing the stand out features of your open house:
Display features and benefits visually. For example, a solid oak front door with heavy duty hardware heightens security and minimizes exterior noise. Create a tent card noting that.
Provide custom display boards with neighborhood market data such as DOM stats, and recent pending and sold information
Display a community board with population, demographics, parks, services, schools, shopping, etc.
Friday, June 10, 2011
Friday facts June 10, 2011
FRIDAY FACTS
June 10, 2011
NAR reports that nationally, pending home sales fell 11.6% this April compared with March. They fell 26.5% comparing April 2011 with April 2010. In the Northeast, pending sales rose 1.7% in April compared with March, but fell 33.4% in April 2011 compared with April 2010. In Barnstable County, pending single family sales fell 18.3% this April compared with last April.
Inman News reports that real estate investors are likely to be three times more active than other types of home buyers in their local markets in the next two years
Inman also notes that housing affordability hit a new record high in the first quarter of 2011. Nationwide, 74.6% of homes sold were affordable to families earning the national median income of $64,400.
The latest Case-Schiller Housing Data shows that U.S. home prices fell to 2002 levels in March.
RIS Media had an article on International buyers in the U.S. 30.8% came from Europe. 27.5% came from North America. 25.2% came from Asia. The rest were from Latin America, Africa and Oceania. 69% of their purchases were single family homes, 18% were condos. They paid on average 20% more than the domestic buyer and 45% paid cash.
An article in Inman News indicated that foreclosure sales were 28% of U.S. home sales in the first quarter of this year and that those properties sell on average 27% less than non-foreclosed properties.
June 10, 2011
NAR reports that nationally, pending home sales fell 11.6% this April compared with March. They fell 26.5% comparing April 2011 with April 2010. In the Northeast, pending sales rose 1.7% in April compared with March, but fell 33.4% in April 2011 compared with April 2010. In Barnstable County, pending single family sales fell 18.3% this April compared with last April.
Inman News reports that real estate investors are likely to be three times more active than other types of home buyers in their local markets in the next two years
Inman also notes that housing affordability hit a new record high in the first quarter of 2011. Nationwide, 74.6% of homes sold were affordable to families earning the national median income of $64,400.
The latest Case-Schiller Housing Data shows that U.S. home prices fell to 2002 levels in March.
RIS Media had an article on International buyers in the U.S. 30.8% came from Europe. 27.5% came from North America. 25.2% came from Asia. The rest were from Latin America, Africa and Oceania. 69% of their purchases were single family homes, 18% were condos. They paid on average 20% more than the domestic buyer and 45% paid cash.
An article in Inman News indicated that foreclosure sales were 28% of U.S. home sales in the first quarter of this year and that those properties sell on average 27% less than non-foreclosed properties.
Friday, June 3, 2011
Friday Facts June 3, 2011
FRIDAY FACTS
June 3, 2011
Here are some bullet points from Lawrence Yun, Chief Economist for NAR from the Midyear Meetings:
Annual home sales currently below the trend line. Underperforming. Last three years about the same – little under 5 million in 2008, little over in 2009 and a little under in 2010. Currently on track for 5.1 million in 2011.
Those with jobs responded to the tax credit.
Buyers want distressed properties at deep discounts.
International buyers are cashing in on the weak dollar.
Slow job recovery on average nationwide. Unemployment over the past three weeks has been disturbing. May be stuck at this level.
Residential real estate net worth has a long way to recover, but at least it’s not falling. It’s trending sideways, but maybe a slight dip in the last quarter.
Rents are rising. 1% higher than the previous year – could be 2 to 3% by year’s end.
New home values slightly lower than rent so it’s better to buy. There’s a growing pool of renters with the necessary income to buy.
Distressed sales were 20-40% of transactions. Will remain significant for the next 2 years.
Serious mortgage delinquencies are trending down, but are way above historical norm.
Dollar is very weak.
All cash sales at record 35% of all sales. Investors want quick deals. They can’t get mortgages. They don’t want to bother with appraisals. Hedge against future inflation. Empty nesters are downsizing and using leftover cash to buy homes for kids.
High inflation is a possibility
Housing starts are at historic lows. Prediction no rise this year or next.
Mortgage writing can’t get any tighter. Fannie FICO now 762, normal average 720. Freddie now 750, normal 720. FHA now 698.
Economic hurdles: inflation is hitting pocketbooks – gas, oil, food. Huge pool of underemployed – everything is unaffordable. Higher number of people claiming disability than ever.
June 3, 2011
Here are some bullet points from Lawrence Yun, Chief Economist for NAR from the Midyear Meetings:
Annual home sales currently below the trend line. Underperforming. Last three years about the same – little under 5 million in 2008, little over in 2009 and a little under in 2010. Currently on track for 5.1 million in 2011.
Those with jobs responded to the tax credit.
Buyers want distressed properties at deep discounts.
International buyers are cashing in on the weak dollar.
Slow job recovery on average nationwide. Unemployment over the past three weeks has been disturbing. May be stuck at this level.
Residential real estate net worth has a long way to recover, but at least it’s not falling. It’s trending sideways, but maybe a slight dip in the last quarter.
Rents are rising. 1% higher than the previous year – could be 2 to 3% by year’s end.
New home values slightly lower than rent so it’s better to buy. There’s a growing pool of renters with the necessary income to buy.
Distressed sales were 20-40% of transactions. Will remain significant for the next 2 years.
Serious mortgage delinquencies are trending down, but are way above historical norm.
Dollar is very weak.
All cash sales at record 35% of all sales. Investors want quick deals. They can’t get mortgages. They don’t want to bother with appraisals. Hedge against future inflation. Empty nesters are downsizing and using leftover cash to buy homes for kids.
High inflation is a possibility
Housing starts are at historic lows. Prediction no rise this year or next.
Mortgage writing can’t get any tighter. Fannie FICO now 762, normal average 720. Freddie now 750, normal 720. FHA now 698.
Economic hurdles: inflation is hitting pocketbooks – gas, oil, food. Huge pool of underemployed – everything is unaffordable. Higher number of people claiming disability than ever.
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