Blog :: 04-2020

Social Distancing and The Real Estate Market Week 6

The amount of new listings over the past weeks has been increasing, so for sellers its a good time to come on the market to stay ahead of the competition.  For buyers, many desirable homes are going under contract within a few days, so if you see something you like you'll want to go after it quickly.  

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If you're considering a move in the suburbs north of Boston we'd love to hear from you!

Call us at 617-275-3379 or Contact us here.

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Social Distancing and The Real Estate Market North of Boston Week 5

If we take a look back at the market from the past three weeks, it hasn't changed much and it's still a seller’s market.  However, we are noticing a change in the numbers compared to where we were in the Spring of 2019 

 

Watch the video below to learn more!
Please don't hesitate to reach out if you have any questions or concerns.

If you're considering a move in the suburbs north of Boston we'd love to hear from you!

Call us at 617-275-3379 or Contact us here.

Be sure to like us on Facebook and follow us on Instagram for a behind the scenes of our day to day and favorite happenings north of Boston!

 

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April 2020 Real Estate Market Update for the Suburbs North of Boston

“This unprecedented pandemic has unleashed marvelous creativity when it comes to selling property,” reports Linda O’Koniewski, CEO of Leading Edge.  “We are seeing buyers make offers on homes they have only seen virtually. Witness the stunning adaption by attorneys, title companies and all of the important people who are involved in a sale to work digitally. We are seeing virtual stagers “de-clutter and stage homes” and home inspectors are using FaceTime with buyers during a home inspection.  It has taken a crisis to move the industry in new and previously unheard-of ways. This will change the way real estate is conducted in the future.  Professionals previously rooted and stuck in the ways they conduct business are forced to think differently.  It’s refreshing, but not always ideal.

Meanwhile, despite the economic conditions, people always need to move. People always need a place to live, and now they are re-thinking how their current space works for the new work at home environment,” concludes O’Koniewski.

 

If you're considering a move in the suburbs north of Boston we'd love to hear from you!

Call us at 617-275-3379 or Contact us here.

Curious about the numbers for your area?  Click the link for your town!

AndoverNorth AndoverNorth ReadingReadingWakefield and Stoneham

Be sure to like us on Facebook and follow us on Instagram for a behind the scenes of our day to day and favorite happenings north of Boston!

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434 Essex Street Unit 2L, Salem, MA 10970 Condo For Sale!

This sun-filled and spacious home is located just outside of all the amenities of downtown Salem. This second floor unit offers an eat-in kitchen, hardwood floors, an abundance of windows, and in unit laundry! Bonus room offers a great space for a home office. Pet - friendly! Move in ready with, opportunity for personalization and additional upgrades. One parking spot included and the condo fee includes heat! Convenient to train, restaurants, libraries, museums, hospitals, YMCA and shopping!

Click here to learn more about this property!

Click here for a 3D tour!

Send us a message for details or contact us at (617) 275-3379.

Watch the video virtual tour for 434 Essex Street Unit 2L Salem, MA 01970 below!

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Why the Stock Market Correction Probably Won't Impact Home Values

Why the Stock Market Correction Probably Wont Impact Home Values | MyKCM
 

With the housing crash of 2006-2008 still visible in the rear-view mirror, many are concerned the current correction in the stock market is a sign that home values are also about to tumble. What’s taking place today, however, is nothing like what happened the last time. The S&P 500 did fall by over fifty percent from October 2007 to March 2009, and home values did depreciate in 2007, 2008, and 2009 – but that was because that economic slowdown was mainly caused by a collapsing real estate market and a meltdown in the mortgage market.

This time, the stock market correction is being caused by an outside event (the coronavirus) with no connection to the housing industry. Many experts are saying the current situation is much more reminiscent of the challenges we had when the dot.com crash was immediately followed by 9/11. As an example, David Rosenberg, Chief Economist with Gluskin Sheff + Associates Inc., recently explained:

“What 9/11 has in common with what is happening today is that this shock has also generated fear, angst and anxiety among the general public. People avoided crowds then as they believed another terrorist attack was coming and are acting the same today to avoid getting sick. The same parts of the economy are under pressure airlines, leisure, hospitality, restaurants, entertainment consumer discretionary services in general.”

 

 

.Why the Stock Market Correction Probably Wont Impact Home Values | MyKCM

Since the current situation resembles the stock market correction in the early 2000s, let’s review what happened to home values during that time.

The S&P dropped 45% between September 2000 and October 2002. Home prices, on the other hand, appreciated nicely at the same time. That stock market correction proved not to have any negative impact on home values.

Bottom Line

If the current situation is more like the markets in the early 2000s versus the markets during the Great Recession, home values should be minimally affected, if at all.

If you are interested in learning more about the value of your home Contact The Ternullo Team today!