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Archive for the ‘Real Estate Industry’ Category

Existing-Home Sales Plunge 6.4%, Mortgage Rates Blamed

January 23rd, 2019 by Michael Mahoney

December Real Estate Snapshot

Following two consecutive months of increases, existing-home sales dialed back at the end of 2018 and economists pointed to higher mortgage rates for most of last year as one of the main culprits. However, they’re optimistic a turnaround will be in sight for home sales in the spring season, particularly given that mortgage rates have started to decrease in recent weeks.

Total existing-home sales—which are completed transactions that include single-family homes, townhomes, condos, and co-ops—dropped 6.4 percent in December compared to November. Sales are now down 10.3 percent from a year ago, according to the National Association of REALTORS®’ existing-home sales report, released Tuesday.

You can see the full article here on Realtor.org

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Fannie Mae: Housing market will stabilize in 2019

January 22nd, 2019 by Michael Mahoney

Fannie Mae: Housing market will stabilize in 2019

After multiple rate hikes brought volatility into the housing market, 2019 should see things stabilize as the pace of rate increases slows, according to researchers at Fannie Mae.

In its 2019 Economic and Housing Outlook, Fannie’s Strategic Research Group said it continues to predict a slowdown in economic growth in the year ahead, projecting a 2.2% decline in growth that it attributes mostly to decreased consumer spending.

But researchers also said that the Federal Reserve’s “dovish” stance on rate hikes in 2019 will help stabilize home sales. They predict only one rate hike in the year ahead.

Considering these projections, the group defined its theme for 2019: “The economy’s slowing, the Fed slows, housing plateaus.”

Researchers said they expect mortgage rates to change little in the year ahead, continuing to hover in the 4.5% range, which they said will allow homebuyers to adjust to the new rate environment after last year’s volatility.

See the Full Article Housingwire

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Michael Mahoney
Boston Realtor with eXp Realty
617-615-9435

Couple Loses $130K Down Payment in Wire Scam

January 22nd, 2019 by Michael Mahoney

A Kansas City, Mo., couple lost their entire $130,000 down payment on a home purchase from a money wire scam that has been increasingly targeting real estate transactions.

Ross and Melinda Fulton were purchasing a home to live closer to their daughters and new granddaughter in the Kansas City area. Ross, a retired pastor of 46 years, and Melinda found the perfect home in Independence, Mo., and were planning to pay for it with cash.

They received an email from someone they thought was their real estate agent. The message was sent from an iPhone and was signed with their agent’s name. As reported by KSHB-41 Kansas City, the email read:

Hello Ross and Melinda, In preparation for your closing on the 30th of November. The closing balance will be required to be wired 26th of November. I would like to know if you will be able to perform the wire on the 26th, so I can inform (actual title company’s name).

Read the full article and how to protect yourself here

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Michael Mahoney
Realtor in Boston
eXp Realty
617-615-9435

You Won’t Believe This Home is Made of Storage Containers

January 21st, 2019 by Michael Mahoney

Photos by: Rocket Lister, rocketlister.com

 

A shipping container for hauling heavy freight in trains, trucks, and ships isn’t often associated with anything glamorous. But the housing industry wants to prove otherwise.

This 3,000-square-foot home in Phoenix is made up of stacked shipping containers, but you’d never know it once you walked inside. It’s modern, open designed interiors matches the style and spaciousness of any other single-family home today.

Homes constructed of shipping containers are drawing more attention in the building industry. These homes are flood and fire-proof, eco-friendly, energy efficient, and there’s certainly no shortage of them to transform. Worldwide, an estimated 24 million empty shipping containers are retired, just waiting to find a new purpose. Could real estate be it?

Some housing experts predict shipping containers to make up a bigger footprint of homes and buildings in the future. One shipping container can be transformed into a tiny home, several molded together could form a standard-sized single-family home, and hundreds stacked together in a Lego-like way could make for an apartment complex. Shipping containers can also be transformed as add-ons to existing homes, such as a garage. See more pics of the shipping container home here

Content courtesy of Realtor.org

Michael Mahoney
Realtor in Boston
eXp Realty
617-615-9435

Will Lower Mortgage Rates Escalate Sales Gains?

January 19th, 2019 by Michael Mahoney

Will Lower Mortgage Rates Escalate Sales Gains?

National Mortgage Rates Courtesy Realtor Magazine

From Realtor Magazine:

 

The real estate industry will soon see what kind of impact weeks of declining mortgage rates have had on home sales. Will it provide the boost some experts are predicting?

Since early November, the 30-year fixed-rate mortgage has fallen nearly half a percentage point, from 4.94 percent to 4.45 percent, where it stood at the end of this week. This could provide an important incentive for potential home buyers to make a move. The 30-year rate, which didn’t budge in the latest week of reporting, was on a downward trend for six consecutive weeks prior. Existing-home sales in November were already bouncing back from unusually low volume in the summer months, gaining 1.9 percent month over month, due largely to stability in the overall economy, according to data from the National Association of REALTORS®. But when NAR’s data for December existing-home sales is released Tuesday, it may reveal whether lower mortgage rates have escalated sales gains.

NAR Chief Economist Lawrence Yun told Yahoo! Finance on Thursday that he expects recent declines in mortgage rates to keep home sales on an upward track—possibly leading to an additional 200,000 transactions this year. “Buyers will want to take advantage of the lower rates,” Yun says. “This additional demand will help absorb inventory. Both home prices and home sales will be lifted.”

See the full article here

Michael Mahoney
Boston Realtor
eXp Realty
617-615-9435

Boston eXp Realtor Michael Mahoney on Boston Real Estate Stats

January 16th, 2019 by Michael Mahoney

Boston eXp Realtor Michael Mahoney on Boston Real Estate Stats

Michael Mahoney
eXp Realty
617-615-9435
mike@mmahoney.com

#Boston #realtor #exprealty

Fed Chair Says FED will be Patient with Raising Interest Rates

January 15th, 2019 by Michael Mahoney

Fed Chair Says FED will be Patient with Raising Interest Rates.

Play the video below.

 

 

Michael Mahoney
Realtor
eXp Realty
Boston
617-615-9435

Fed Reserve Bank will be slow with increasing the interest rate – good for the 2019 home buyer. 

January 15th, 2019 by Michael Mahoney

The Fed Reserve Bank will be slow with increasing the interest rate. This is good for the 2019 home buyer.

“At a December news conference, Fed Chairman Jerome H. Powell said the economy remained strong, and the Fed expected to continue to raise rates in 2019. But upset investors had driven down asset prices and prompted a market slump. The Fed has since lightened its tone and has emphasized that it’s taking note of investors’ concerns.”

Here is the full article on Realtor Magazine

 

What a Government Shutdown Means for REALTORS and Clients

January 14th, 2019 by Michael Mahoney

What a Government Shutdown Means for REALTORS and Clients

As of midnight on December 21, 2018, the President and Congress were unable to agree on the provisions of a Continuing Resolution (CR) to fund the federal government. As a result, a partial shutdown of some government operations has occurred. This partial shutdown includes some federal housing, mortgage, and other programs of interest to the real estate industry. A summary of the impact on selected agencies is provided here.

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Greater Boston Real Estate Report SEPT 2018

September 20th, 2018 by Michael Mahoney

Greater Boston Real Estate Report SEPT 2018

 

Would you like to know what’s happening in Boston real estate? Here is a quick two pager that summarizes the market in under a minute.

Thanks for your interest in the latest Greater Boston Real Estate Board Report.

You can click here to request the Boston report  or click the report below . 

You will instantly be granted access to it.

What You Say Matters – Use Scripts by Tom Ferry

September 8th, 2018 by Michael Mahoney

What You Say Matters Use Scripts by Tom Ferry

As a real estate agent, what you say matters. It’s important that we are communicating with our clients in the most effective manner.

A way to ensure that our communication is not a hindrance to our business is to learn scripts. Many people don’t like scripts because they think it’s not them or that it makes them sound funny.  The truth is that every professional business person you interact with has a script. It’s how good businesses run. Why do you think people buy franchises?

A script is really a good way to ensure a good outcome for both you and the client as the process of working together to buy or sell a house unfolds.

In order to be an effective real estate agent, it helps to know what to say to client. If you are just winging it, the client experience will not be as good as it could be for the client. Download the free Tom Ferry Scripts here

this is the link to download all the real estate agents scripts by tom ferry

 

In order to help some of our agents here at eXp Realty, I have made available to you a book of scripts by Tom Ferry.  I would study these Tom Ferry scripts and internalize them.  Read the scripts that are relevant to your daily business on a continual business and watch your business skills improve.

Tom Ferry is an amazing real estate trainer. You really should check out his book. See Tom’s book here

If I can help you with anything at all, please feel free to reach out to me at 617-615-9435. 

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Michael Mahoney
Realtor
eXp Realty
Serving Greater Boston
617-615-9435
Contact Me

 

     

Read my other blog here 

EXP Realty Realtor Michael Mahoney

Realtor Michael Mahoney on Facebook

 

 

 

Michael Mahoney | Greater Boston Realtor with EXP Realty

Some of the area Michael Mahoney  includes:
AshlandAttleboro Bellingham Boston Canton Dedham Dorchester Dover Foxboro Framingham
Franklin Holliston Hopedale  Hyde Park Mattapan Medfield Medway Milford Millis Milton Natick
Norfolk North Attleboro  Norwood Plainville
Quincy Randolph Roslindale Sharon Sherborn Stoughton Walpole Wellesley
West Roxbury Westwood Wrentham

 Get the value of Any Boston Area Property Now @ www.HomeValueBoston.com

eXp Realty Agents – What You Say Matters Use Scripts by Tom Ferry

August 20th, 2018 by Michael Mahoney

eXp Realty Agents – What You Say Matters Use Scripts by Tom Ferry

As a real estate agent with eXp Realty, what you say matters. It’s important that we are communicating with our clients in the most effective manner.

A way to ensure that our communication is not a hindrance to our business is to learn scripts. Many people don’t like scripts because they think it’s not them or that it makes them sound funny.  The truth is that every professional business person you interact with has a script. It’s how good businesses run. Why do you think people buy franchises?

A script is really a good way to ensure a good outcome for both you and the client as the process of working together to buy or sell a house unfolds.

In order to be an effective real estate agent, it helps to know what to say to client. If you are just winging it, the client experience will not be as good as it could be for the client. Download the free Tom Ferry Scripts here

this is the link to download all the real estate agents scripts by tom ferry

 

In order to help some of our agents here at eXp Realty, I have made available to you a book of scripts by Tom Ferry.  I would study these Tom Ferry scripts and internalize them.  Read the scripts that are relevant to your daily business on a continual business and watch your business skills improve.

 

Tom Ferry is an amazing real estate trainer. You really should check out his book. You can check order Tom’s book here

If I can help you with anything at all, please feel free to reach out to me at 617-615-9435. 

Search All Homes For Sale
Thinking About Joining eXp Realty
HomesinBostonMass – See it all here
Free List of Foreclosed Homes For Sale
Get the Equity Position of your House Now – Equitywatch
Boston Listings Search
What is Your Home Worth?
Michael Mahoney – Youtube Channel


Michael Mahoney Realtor on Zillow 

 

More @ my About Me Profile

 

My profile on Linkedin

Michael Mahoney
Realtor
eXp Realty
Serving Greater Boston
617-615-9435
Contact Me

 

     

Read my other blog here 

EXP Realty Realtor Michael Mahoney

Realtor Michael Mahoney on Facebook

 

 

 

Michael Mahoney | Greater Boston Realtor with EXP Realty

Some of the area Michael Mahoney  includes:
AshlandAttleboro Bellingham Boston Canton Dedham Dorchester Dover Foxboro Framingham
Franklin Holliston Hopedale  Hyde Park Mattapan Medfield Medway Milford Millis Milton Natick
Norfolk North Attleboro  Norwood Plainville
Quincy Randolph Roslindale Sharon Sherborn Stoughton Walpole Wellesley
West Roxbury Westwood Wrentham

 Get the value of Any Boston Area Property Now @ www.HomeValueBoston.com

Existing-Home Sales Fade in December; 2017 Sales Up 1.1 Percent

January 25th, 2018 by Michael Mahoney

Michael Mahoney  a Boston Realtor sells homes in winterWASHINGTON (January 24, 2018) — Existing-home sales subsided in most of the country in December, but 2017 as a whole edged up 1.1 percent and ended up being the best year for sales in 11 years, according to the National Association of Realtors®.

Total existing-home sales1, https://www.nar.realtor/existing-home-sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 1.1 percent in 2017 to a 5.51 million sales pace and surpassed 2016 (5.45 million) as the highest since 2006 (6.48 million).

In December, existing-home sales slipped 3.6 percent to a seasonally adjusted annual rate of 5.57 million from a downwardly revised 5.78 million in November. After last month’s decline, sales are still 1.1 percent above a year ago.

Lawrence Yun, NAR chief economist, says the housing market performed remarkably well for the U.S. economy in 2017, with substantial wealth gains for homeowners and historically low distressed property sales. “Existing sales concluded the year on a softer note, but they were guided higher these last 12 months by a multi-year streak of exceptional job growth, which ignited buyer demand,” said Yun. “At the same time, market conditions were far from perfect. New listings struggled to keep up with what was sold very quickly, and buying became less affordable in a large swath of the country. These two factors ultimately muted what should have been a stronger sales pace.”

The bottom line right now in Boston real estate market is that the inventory is still really low and we could use some of the baby boomers homes to sell in the open market since there are a lot of buyers looking to settle down into those homes and create their American Dream.

Curious What Your Home is Worth

Full Press Release from The National Association of Realtors Here

Home Sales Are Rising Despite Supply Woes

November 28th, 2017 by Michael Mahoney

“Listings—especially those in the affordable price range—continue to go under contract typically a week faster than a year ago, and even quicker in many areas where healthy job markets are driving sustained demand for buying,” Yun says. “With the seasonal decline in inventory beginning to occur in most markets, prospective buyers will likely continue to see competitive conditions through the winter.”

The report is from Realtor Magazine’s DAILY REAL ESTATE NEWS on TUESDAY, NOVEMBER 21, 2017

You can read the full article here

Inventory So Low Even Pepto Pink will Sell

September 28th, 2017 by Michael Mahoney

Inventory So Low Even Pepto Pink will Sell

Boston Low Housing Inventory

Get the value of your home now…

If you are looking for professional advice on how to prepare your home for the market please feel free to reach out to Michael Mahoney.

Michael Mahoney Boston Realtor

Reviews

5suzannechapman1208

I selected Mike after having a very unsuccessful experience with a previous broker. He had excellent ideas in helping to sell my house and continued to advertise it with a fresh perspective. His experience helped in a number of ways and I only wish we had... (more)

5goodlife99

This is the second property I have sold in Weymouth MA with Mike as my broker. He research the area and give you all the information you need to decide what to list your property for, so it sells timely. He also helps review and negotiate all offers and is... (more)

5SullyLemmons

We had been trying to sell our condo for well over a year and decided to give Mike a shot at it as he came well recommended. It was not easy for him but he persisted and had success. Even though it wasn't a big sale or profit for him, he acted as though it... (more)

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