Blog :: 07-2019

Mid-Year Housing Market Update: Three Things to Know Today

Mid-Year Housing Market Update: Three Things to Know Today | MyKCM
 

Shifting trends and industry-leading research are pointing toward some valuable projections about the status of the housing market for the rest of the year.

If you’re thinking of buying or selling, or if you just want to know what experts are saying is on the horizon, here are the top three things to put on your radar as we head into the coming months:

  1. Home prices are appreciating at a more normal rate: Home prices have been appreciating for about ten years now. Experts at the Home Price Expectation Survey, Mortgage Bankers Association, Freddie Mac, and Fannie Mae are forecasting continued growth throughout the next year, although it should be leveling-off to normal appreciation (3.6%), as we move into 2020.
  2. Interest rates are low: Over the past 30 years, the average mortgage rate in the United States has been 8.27%, and rates even peaked as high as 18% in the 1980s. Today, at 3.81%, the rate is considerably lower than the historical 30-year average. Although experts predict it may climb into the low 4% range in the near future, that’s still remarkably lower than our running average, suggesting a great time to get more for your money over the life of your loan.
  3. An impending recession does not mean there will be a housing crash: Although expert research studies such as those found in the Duke Survey of American CFOs and the National Association of Business Economics, are pointing toward a recession beginning within the next 18 months, a potential recession isn’t expected to be driven by the housing industry. That means we likely won’t experience a devastating housing crash like the country felt in 2008. Expert financial analyst Morgan Housel tweeted:

“An interesting thing is the widespread assumption that the next recession will be as bad as 2008. Natural to think that way, but, statistically, highly unlikely. Could be over before you realized it began.”

In fact, during 3 of the 5 last U.S. recessions, housing prices actually appreciated:Mid-Year Housing Market Update: Three Things to Know Today | MyKCM

Bottom Line

With prices appreciating and low interest rates available, it’s a perfect time to buy or sell a home. Let’s get together to discuss how you can take the next step in the exciting journey of homeownership.  Contact us today!

North of Boston Famers Market Guide

 

Now is the best time of year to visit one of the many wonderful farmers markets in the communities North of Boston! 
Not only will you be able to pick the best seasonal produce, but you'll likely find a delicious snack, lunch or dinner to munch on while you shop! Maybe the kids can help and everyone can try a new veggie for dinner tonight!? Also, visiting a farmers market is a great way to learn about the communities you're house hunting in!
Check out the guide below! 

North Reading- Wednesdays June 19th - Aug. 28th 
from 3:30pm to 7:00pm
Ipswich River Park
15 Central St, North Reading, MA 01864
http://www.northreadingfarmersmarket.org
 

Melrose- Thursdays from 2pm-7pm
June through October (closes at 6PM in October)
Bowden Park, near the Cedar Park Train Station
167 West Emerson Street, Melrose, MA 02176
https://melrosefarmersmarket.org

Stoneham- Thursdays June 6 - Sept 26th 2:30pm-6:30pm
Town Common
340 Main St, Stoneham, MA 02180
https://stonehamfarmersmarket.com
 

Winchester- Saturdays through Oct. 26th. 9am-1pm
Winchester Common
22 Church St, Winchester, MA 01890
https://www.winchesterfarmersmarket.org
 

Andover- Saturdays October 19th 10a.m.-2:00 p.m.. 
97 Main Street in downtown Andover on the South Lawn of the Andover Historical Society.
https://andoverhistorical.org/programs
 

North Andover- Sundays through September 29. 10am - 2:00 p.m.  
The intersection of First and Main Streets in downtown North Andover
https://northandoverfarmersmarket.org
 

 

Comments

  1. No comments. Be the first to comment.

Community Spotlight: RSK Marble & Granite

(photo courtesy of sanctuaryhomedecor.com)

For this month's Community Spotlight we are featuring one of our trusted vendors:  RSK Marble & Granite.  John and Michelle are renovating their kitchen and sought out the expertise of brother and sister team Peter and Kristine at RSK.  The family-owned business specializes in natrual and engineered stones.  Watch the video to learn more!   Also check out our Facebook page for the change to win a discount on countertops for your next renovation!

 

Comments

  1. No comments. Be the first to comment.

Home for Sale! 86 Prescott St., Medford, MA 02155

Welcome to 86 Prescott Street in Sought after West Medford! Built in 1995, this Colonial home is much younger than typical homes in the area and offers an updated and spacious layout. The kitchen offers an open layout ideal for entertaining and everyday living. The center island provides space for friends to mingle while entertaining as well as family to gather at breakfast. Summertime entertaining seamlessly extends outside with a large composite deck and retractable canopy! 4 bedrooms are located on the 2nd level, complete with master bedroom and master bath. The finished basement is ideal for a home office, or additional living space, and comes complete with a full bath! Comfortable Central Air! Convenient Attached Garage! Ideally located minutes to the commuter rail, express buses, major highways, restaurants, shops, and down the street from Brooks Elementary.

View Listing Details Here!

Questions about the listing?  Contact The Ternullo Team at (617) 275- 3379.

Comments

  1. No comments. Be the first to comment.

July 2019 North of Boston Real Estate Market Update

"An agent recently described the current market as, squirrley," reports Linda O'Koniewski, CEO of Leading Edge. "As the market has softened, buyers are more finicky and more selective, and right now many sellers have unrealistic expectations of their home's worth. The bottom line is, homes must be priced right."

 

Comments

  1. No comments. Be the first to comment.

Coming Soon to West Medford!

Beautiful, spacious colonial home in sought after West Medford!  Home features a one car garage, Central AC and private yard with deck.  4 bedrooms and 3.5 baths.  Bright and open with gorgeous wood floors downstairs!  

Watch the virtual tour below and contact us to find out more!

 

Comments

  1. No comments. Be the first to comment.