January 13, 2010

NORWELL Real Estate

Happy New Year!! We are now into full swing for the 2nd decade of the 21st century.

Turn of the century homes will no longer mean the antiques that once came to mind, but…hmmm, what WILL come to mind? Perhaps big beautiful new homes with enormous great rooms and gourmet, granite kitchens; no wallpaper and hardwood flooring and 3 car garages….and there are now lots of those for sale.

Recent news tells us one out of every four homes is worth less than is owed. This is often referred to as an upside down mortgage, and the percentages on these are climbing daily according to various reports.

Short sales are when you sell a house for less money than is owed to the bank, and the lender accepts taking the loss.

Foreclosures happen when payments have not been made to the lender, even if there is very little left on the note.

The good news is, pending home sales for Massachusetts were up for the 6th straight month in December, and November sales were up 63%, according to Massachusetts Association of Realtors. These are promising statistics and helped by the Buyers Tax Credit. Norwell statistics are:

59 Homes on the market, ranging from $ 170,000 to $ 2,950,000.

11 pending sales, ranging from $ 150,000 to $ 1,949,000

With no crystal ball, I can’t begin to imagine the future of real estate this year. But common sense tells me houses will continue to sell quickly when priced at fair market value.

If you need more information on Norwell or any other towns in Massachusetts, it’s very easy to compile from MLS, so give a call or email and I’ll get back to you ASAP.

I work around the corner and around the Globe, so any move, anywhere, is real estate to me…I LOVE referrals and RELOCATIONS of every kind. I look forward to hearing from you!

Posted by:Kristen Morse