LATEST RESULTS

The National Association of Home Builders has just released their latest forcast which states the Northeast will be one of the first regions to rebound. They expect signs for most areas in the 3rd quarter, no later than the 4th. Here in central MA we are already seeing the market start to improve with steady sales and in some cases multiple offers on one property. If you are waiting for the bottom do not wait too long as we may be there.

PROCEED WITH CAUTION

The term that is being thrown around lately is "short sale". This simply means that the current mortgage holder may ot may not accept a sale price lower then what is owed on a property. Most short sale situations the mortgage holder will take up to 90 days to make a decision after reviewing all offers, they also reserve to right to foreclose on the property anyway. Do not be fooled by artificially low list prices in order to lure multiple bids raising the price. Keep your eyes open for traditional sales as well, sometimes they are the better deal in the end.

LATEST RESULTS

The Massachusetts Association of Realtors (MAR) has reported that home sales are down for the third straight month in November. The median sale price of single family homes are -2.9% and the median sale price of condominiums are +1.9%...maybe we can say we have stabilized?

RATE CUT

Ii is official the fed did cut the rate by 25 basis points.

Home sales up in July. There has been alot of negative press however according to Mass Association of REALTORS July 2006 the median sale price on a single family was $361,250 and July 2007 it was $365,775.

Arts for Aids Sake is set for November 2, 2007 at the Worcester Craft Center on Sagamore Road.

Home Show at the DCU Center Worcester, March 9, 10, & 11.