Well the news just keeps coming about how bad everything is out there...but don't believe everything you hear.
Across the nation new mortgage applications increased for the first time in more than a month according to the Mortgage Bankers Association. This increase is most likely due to the 30-year fixed rate climbing to 6.27 and then dropping to 5.98. When buyer's saw the rates plummet, they locked in on their purchases.
Number Two: The pending home sales didn't decline last month as previous months...they just stayed flat. This is "maybe" an indication that the sales decline has or is bottoming out.
Number Three: The Federal Reserve is expected to drop the overnight rates another quarter point next week -- and maybe more in the weeks ahead.
Well this sounds good to me! If the rates stay low with the lower prices the buyer's will say..I'm ready...this is for me!
Remember...the only way to know the market has really bottomed out is when it starts to rise, and you don't want to lose that opportunity!
Psychological factors are causing some buyers to remain on the sidelines, waiting for prices to stabilize or for more favorable news about the market and the economy. Contributing to this hesitancy is a lot of negative news stories, but in the end we believe that underlying market fundamentals will prevail," When it comes to housing, consumers today lace their gloves with information -- digital and otherwise -- and then take it to the market, fighting smart.
-David Lereah, NAR Chief Economist
Homes are staying on the market longer as buyers are being extra cautious. The bidding wars are over.Buyers now have more choices and more time to make decisions. The housing market is different from the stock market. In the housing market, sellers will hold out for a while before cutting price; in the stock market, prices are lowered right away.The market is changing and notes watching.... WIth more homes coming on the market buyers will have options.Sellers are pricing their homes more competitively...real estate markets are experiencing a cool spell, where markets that were once in full favor of sellers, have now balanced out. Buyers have more room to negotiate on conditions and prices, while sellers have to be more competitive and willing to have their homes on the market for longer periods of time. Let me help you stage your home for the buyers looking now...First impressions are SO IMPORTANT and I know what buyers are looking for!
Remember to ask who's representing you in the transaction! All brokers represent sellers' unless specifically disclosed and contracted as a BUYER'S Agent. I am a certified BUYERS REPRESENTATIVE (after spending many hours in training at the Mass. Association of Realtors). Ask me how I better serve my Seller Clients and Buyer Clients with my 25+ years of experience....
For your individual market study on your home visit www.DebraCahill.com and click on Your Market Snapshot on the left side banner...
I've created this link to individualize the market for you...
ZIP Codes: 02375, 02356 Location Characteristics: The Town of Easton is located approximately 24 miles south of Boston and 20 miles northeast of Providence, Rhode Island. The community is approximately 29 square miles in area and has an estimated 1995 population of 23,242. Easton is governed by an open town meeting. A five member Board of Selectmen and full time Town Administrator ensure efficient local government services for the twenty first century.
Our History The land that is now the Town of Easton was bought in 1668 by Thomas Leonard, the clerk of the Taunton North Purchase Company, in the name of fifty-two other Taunton men and himself from the Plymouth Court for the sum of 100 pounds. The fifty square mile purchase also included most of Mansfield and part of Norton. In 1694, the first settler, Clement Briggs established his home near the Easton Green. In 1711, the Taunton North Purchase area became Norton, and in 1713, the twenty-six families settled in Easton and hired Elder William Pratt as their first minister. There was no legal parish in Easton untill 1722 when the East Precinct of Norton was recognized. In 1725, the area was incorporated as the Town of Easton; it was so named because it was formerly called the "East End" of the Taunton North Purchase and was shortened by pronunciation to Easton.
In 1803, the Ames Shovel Company was established and became nationally known as having provided the shovels which laid the Union Pacific Railroad and opened the west. In 1875, the shovel production of the Ames plant was worth 1.5 million.
The Ames Family The Ames family not only shaped the town's ecomony, but also its geography and architecture. In the late 19th century, the family created a remarkable legacy by donating several landmark buildings to the town. This was noteworthy not only for its benevolence, but for its architectural significance, since the nationally known architect, H.H. Richardson designed Oakes Ames Memorial Hall, the Ames Free Library and the Old Colony Railroad Station, which now houses the Easton Historical Society in impressive Romanesque style. Two additional Richardson-designed buildings remain in private ownership. Also, a number of the Richardson properties and "The Rockery" were designed by the famous landscape architect Frederick Law Olmsted. The community has carefully preserved these buildings and properties as part of the proud heritage of the Town.
Our Character
Conservation is an integral component of Easton's character. With the purchase of Wheaton Farm and other areas by the Conservation Commission, the acquisition by the Natural Resources Trust of "Sheep Pasture" and the enjoyment of state-owned "Borderland," approximately 15 percent of the community is dedicated conservation land. Also, historical awareness has resulted in the designation of four national historical districts and a historical landmark district.
For your individual market study on your home visit www.DebraCahill.com and click on Your Market Snapshot on the left side banner...
I've created this link to individualize the market for you...
About Debra J. Cahill:
Serving The Bridgewaters' and surrounding towns for over 25 years....Just starting to think about selling? Give us a call for a FREE Market Consultation on your home....We'll help you pick just the right time and STAGE your home to show off it's best features and benefits.... Call today for a NO OBLIGATION consultation with a member of the Cahill Consulting Group... 508-697-2480 X177
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
