The Ternullo Real Estate Team http://ternullorealestate.posterous.com Most recent posts at The Ternullo Real Estate Team posterous.com Wed, 23 May 2012 10:15:00 -0700 Harmful Effects from Changing the Listing Price? http://ternullorealestate.posterous.com/harmful-effects-from-changing-the-listing-pri http://ternullorealestate.posterous.com/harmful-effects-from-changing-the-listing-pri

This is a post we originally ran this time last year by Ken H. Johnson, Ph.D. — Florida International University (FIU) and Editor of the Journal of Housing Research as our guest blogger. To view other research from FIU, visit http://realestate.fiu.edu/. - The KCM Crew

The Research 

Are there any negative effects from changing the listing price of a property?  This question haunts Brokers/Agents as well as sellers of property every day.  At present, there does not seem to be a consensus answer to this question within the professional real estate community.  Fortunately, this question was scientifically investigated by John R. Knight. Unfortunately, few know the results of Professor Knight’s research.

In Knight, the impact of changing a property’s listing price is investigated.  Additionally, the types of property that are most likely to experience a price change are also estimated.  The findings from this research indicate that, on average, properties which experience a listing price change take longer to sell and suffer a price discount greater than similar properties.  Furthermore, bigger price changes are found to experience even longer marketing times and greater price discounts.  Finally, as for which properties are most likely to experience a price change, Knight finds that the greater the initial markup; the higher the likelihood that any given property will experience a listing price change. 

Implications for Practice

 Sellers as well as Brokers/Agents should therefore be aware of the critical necessity of getting the price correct from the start.  Sellers wanting to over list will ultimately take longer to sell and will sell their property for less, on average, according to Knight.  Brokers/Agents’ desire to take a listing and get the price right later will ultimately lead to their working harder according to Knight, and they are not doing their sellers any favors.  Thus, an initial and detailed analysis of the proper price is much more critical than many originally thought.  

Interestingly, I have found in my own research that the direction (up or down) of the listing price change does not matter.  A listing price increase and decrease both lead to similar results found in Knight’s work – longer marketing times and lower prices.  Therefore, get the price right from the beginning.  It is best for all.

Endnotes

[1] Knight, John, R.  (2002).  Listing Price, Time on Market, and Ultimate Selling Price: Causes and Effects of Listing Price Changes.  Real Estate Economics.  30:2, 213-237.

 

 

 

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Tue, 22 May 2012 11:14:00 -0700 Where Are House Prices Actually Headed? http://ternullorealestate.posterous.com/where-are-house-prices-actually-headed http://ternullorealestate.posterous.com/where-are-house-prices-actually-headed
National Projections from the Home Price Expectations Survey (HPES), theUrban Land Institute Real Estate Consensus Forecast (ULI) and the Demand Institute’s Report (DIR): The Shifting Nature of U.S. Housing Demand.
Media_httpwwwkcmblogc_jtjbc

 

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Fri, 04 May 2012 13:50:00 -0700 Bidding Wars Catch Buyers Off-Guard http://ternullorealestate.posterous.com/bidding-wars-catch-buyers-off-guard http://ternullorealestate.posterous.com/bidding-wars-catch-buyers-off-guard

We have been seeing homes that are priced right are moving very quickly.  Many open houses are packed, and some buyers are shocked to find themselves in bidding wars.   With proper strategy, pereperation and pricing, sellers can take advantage of this busy spring market.


DAILY REAL ESTATE NEWS | MONDAY, APRIL 30, 2012

Home buyers are unexpectedly finding more competition this spring in landing their dream home. Bidding wars are increasingly being reported in markets across the country, from California to Florida, The Wall Street Journal reports. 

"It's a little surprising because we thought bidding wars were done with," Andy Aley, a home shopper in Seattle, told The Wall Street Journal. Aley says he was outbid on a home earlier this year, even though he offered to pay $23,000 above the listing price and also waive inspections and other closing conditions.

Home buyers are frustrated and caught off-guard about the bidding wars re-emerging, real estate professionals report. 

"We're writing a record number of offers, but we're not seeing a record number of closings and that's because it's so competitive," Glenn Kelman, chief executive of Redfin Corp., told The Wall Street Journal.

Why are things getting so competitive? Many housing markets are seeing a drastic decrease in the number of homes listed for-sale, leaving home buyers with fewer options and more bidding on the same house. Housing analysts say the shortage in supply is from sellers unwilling to take much less for their home than what they originally paid for it and pulling their homes off the market. Also, a surge in investors has made the market more competitive, as investors snatch up homes in bulk in all-cash deals. 

“The bidding wars caused by tight inventory provide the latest evidence that housing demand is starting to pick up after a six-year-long slump,” The Wall Street Journal reports.

Indeed, the National Association of REALOTRS® reported late last week that pending home sales in March reached their highest level in nearly two years and are up 12.8 percent from a year ago.

Source: “Stunned Home Buyers Find the Bidding Wars Are Back,” The Wall Street Journal (April 27, 2012)

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Tue, 20 Mar 2012 10:35:00 -0700 Avoiding the "NOT A DRIVE BY" http://ternullorealestate.posterous.com/avoiding-the-not-a-drive-by http://ternullorealestate.posterous.com/avoiding-the-not-a-drive-by

 

Many times we see homes listed as "Not a Drive By"- This translates to "Awful Curb Appeal!" Potential buyers want to take pride in their new home, so not having great curb appeal can make the sale of a home that much more difficult.  

Here are some great tips so when potetial buyers see your home, they will be more inclined to stop and schedule a veiwing rather than just "drive by"...

 

 


6 rules of curb appeal

How to beat out competition when selling your home

By Paul Bianchina
Inman News®

It's that time of year again, when I take a moment to talk to all of you who are thinking of putting your home on the market this spring. If real estate's favorite old adage is "location, location, location," then it's got to be followed closely by, "You get only one chance to make a first impression."

You can't change your home's location, but you can certainly do everything within your power to make that first impression a strong one, so let's go over the basics of that all-important must-have for a successful sale: curb appeal.

Start with a step back

You've seen the outside of your house so many times that you don't really see it anymore. So now's the time to look at it with new eyes, from the perspective of a prospective buyer. And if you can't do it objectively, get a friend, a neighbor or your real estate agent to do it for you.

Put yourself in the buyer's shoes, and make a written list of those things that might raise some concerns for you if you were thinking of buying it. And while the front of the house is the primary focal point, don't overlook the sides and rear of the house as well. Here are some things to keep in mind:

Exterior paint: The color and condition of your home's exterior paint job is one of the single most important things to a prospective buyer. The color makes a visceral impact the moment a buyer walks up, and while you might have thought that the hot pink siding with neon purple trim was a great showcase of your individuality when you painted the house, it's going to severely limit the home's appeal.

And no matter what color the house is, if the paint job is faded and peeling, it's an immediate warning sign to buyers that the house hasn't been maintained, so they'll have their magnifying glass out to look for other defects.

If you're handy with a brush and an airless sprayer, you might just want to undertake a repainting project yourself. A long weekend and a few hundred dollars in paint can make a world of difference in how well the home shows and how quickly it sells.

If you don't want to paint the entire house -- or if it doesn't really need it -- just painting the trim, exterior doors, garage door or window shutters can make a big difference as well.

Roofing: A bad roof is another indicator of a general lack of maintenance, and may point a finger at potential structural and even mold problems resulting from leaks. Roofs are expensive to replace, but depending on your market and your desire to reap top dollar from the sale, you may want to take a hard look at the economics of re-roofing.

Talk with your agent about the pros and cons of re-roofing now versus crediting the cost of a new roof to the buyer in escrow.

Driveway and walkways: Driveways are a pretty dominant feature in most homes. Clean any oil-stained concrete, and repair small cracks before they get larger. For asphalt driveways, a seal-coat can often make a big difference in appearance and help prolong the asphalt as well.

For concrete or asphalt that's badly damaged, it's time to be thinking about replacement. You can replace the driveway with the same material as before, or consider an updated look by using paving stones instead -- they hold up well in all types of weather, and can even be a very satisfying do-it-yourself project.

How about walkways? When someone arrives, is there a clear and safe path to your front door? You may not mind walking across your front lawn, but guests and prospective buyers would definitely prefer a walkway. There are lots of options for creating a new front walkway or replacing an existing one, so check out your home center or some landscaping magazines for ideas.

Landscaping: Are things overgrown? Dead or dying? Obviously neglected? Landscaping is a huge part of that first impression, so remember to take a critical look at it.

  • Fertilize and water the lawn regularly to green it up, and run an edger along sidewalks and driveway edges.
  • Rake up leaves and pine needles.
  • Repair sprinkler systems.
  • Prune back or even remove those wild shrubs, and trim overhanging tree branches.
  • Use bright flowers to create borders and accent areas that add both color and hominess to the yard.
  • Consider adding new shade trees in front, which help a home look more established and appealing. Trees look best planted in odd numbers -- a grouping of three or five for example -- and the folks at your local nursery can help you with proper spacing.

Clean and organize: Finally -- clean! If you're not going to paint, wash down the siding to remove dirt and stains and get it looking fresh and clean. Wash driveways, walkways and patios. If you have a wood deck, consider a complete cleaning to restore the wood to a fresher look.

Wash all the windows, inside and out, and wash the screens as well. Polish doorknobs and light fixtures. Stow all of your garden tools and kids' toys away to remove clutter and potential tripping hazards. Take a trip to the local landfill and dump all the stuff that's accumulated in and around the yard.

Check the night view

One last thing: Check the night view as well. A home that shows well at night really creates an impression. Replace any burned-out lightbulbs, and consider adding a timer or two to keep the lights on a little longer into the evening.

Consider some low-voltage or solar lights to accent front walkways, and maybe provide up-lighting to accent trees and larger shrubbery. Keep a light or two on in the front windows as well, to add to the feeling of coziness and comfort.

Remodeling and repair questions? Email Paul at paulbianchina@inman.comAll product reviews are based on the author's actual testing of free review samples provided by the manufacturers.

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Wed, 22 Feb 2012 14:38:00 -0800 MORTGAGE SERVICES SETTLEMENT http://ternullorealestate.posterous.com/mortgage-services-settlement http://ternullorealestate.posterous.com/mortgage-services-settlement

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Tue, 21 Feb 2012 21:13:00 -0800 Home Depot's earnings raise hopes for Housing http://ternullorealestate.posterous.com/home-depots-earnings-raise-hopes-for-housing http://ternullorealestate.posterous.com/home-depots-earnings-raise-hopes-for-housing

By msnbc.com news services

Home improvement retailer Home Depot’s strong quarterly earnings report Tuesday has some wondering: Is this an indicator of an improving trend in the much-beleaguered U.S. housing market?

Brian Nagel, a retail analyst at Oppenheimer, thinks so.

One of the warmest U.S. winters on record has certainly encouraged homeowners to take up home projects earlier than usual, leading to strong demand for everything from paint to concrete and boosting Home Depot’s results. But behind that factor you also have a strengthening hosing environment, Nagel told CNBC.

“I spend a lot of time looking at the index of builders confidence and the commentary that has come from the home improvement retailers lately -- it all points to a strengthening demand trend here over the last few months,” he said. “I think this has legs and will persist for some time.”

The world's largest home improvement chain also gave a better-than expected profit forecast for the year Tuesday, just days after a report showed U.S. homebuilder sentiment had risen in February to its highest level in more than four years. That report raised hopes that the housing market was stabilizing.

Tuesday's news drove Home Depot shares to their highest level since May 2002.

Credit Suisse analyst Gary Balter said the most important part of Home Depot’s strong quarterly earnings performance and earnings beat were that “they are occurring prior to any sustained housing recovery.”

The company’s earnings power will rise significantly once the housing market and the economy improve, Balter added.

Reuters contributed to this report.

Is the housing market rebounding? Discuss on our Facebook page.

 

Locally we have noticed showings are high, levels close to that of last spring.. But there is little inventory out there, many buyers are just waiting for the "right" home to come to market. For sellers, it a great time to get a jump on the spring market and avoid competition.

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Wed, 25 Jan 2012 07:15:00 -0800 Boston Area Real Estate is on the verge of bouncing back http://ternullorealestate.posterous.com/boston-area-real-estate-is-on-the-verge-of-bo http://ternullorealestate.posterous.com/boston-area-real-estate-is-on-the-verge-of-bo

From Forbes Magazine

 

http://galleries.forbes.com/gallery/Cities_Where_Real_Estate_Is_Ripe_For_A_Re...&view=filmstrip

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Wed, 25 Jan 2012 06:53:00 -0800 Buying VS Renting http://ternullorealestate.posterous.com/buying-vs-renting http://ternullorealestate.posterous.com/buying-vs-renting

With interest rates so low, homes are becoming much more affordable. Often times home buyers are finding their monthly payments are cheaper than rent!

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Tue, 27 Dec 2011 06:23:00 -0800 More buyers qualify for mortgages than you think http://ternullorealestate.posterous.com/more-buyers-qualify-for-mortgages-than-you-th http://ternullorealestate.posterous.com/more-buyers-qualify-for-mortgages-than-you-th

By Kenneth R. Harney / The Nation’s Housing

Could gloomy popular assumptions about how tough it is to get approved for a mortgage be scaring away large numbers of people who are qualified from even applying?

Could the same worries — I can’t come up with the big down payment I need, my credit scores are too low, my bank account has almost none of the “reserves” lenders want to see — put a needless damper on a housing recovery in the new year?

You bet. Lenders and economists will tell you flat out: The lack of accurate information about the availability of loan programs that are designed to address special needs is discouraging far too many consumers from even considering an application, much less shopping around.

Mortgage banker Alex Stenback of the Residential Mortgage Group in Minnetonka, Minn., says he sees it every day: “People just aren’t aware of what’s possible right now” and as a result, they are missing real estate prices and long-term interest rate opportunities they shouldn’t. Doug Lebda, founder and CEO of LendingTree, the online site that allows banks to make competing offers to applicants, believes that “the fear of being rejected” because they don’t conform to standards that may not even exist, is keeping qualified applicants on the sidelines for no reason.

  For example, what’s needed for an acceptable down payment? Is it 20 percent? 10 percent? Less? Yes, it’s less -— and potentially a lot less if you qualify for the right program. The widespread erroneous assumption that banks require a minimum 20 percent for conventional loans may have arisen from heavy media coverage this spring and summer of a controversial proposal by federal agencies calling for borrowers to put down that much if they want to get the best interest rates and lowest fees.

Also contributing to incorrect beliefs about down payments: The Obama administration floated the idea of a phased-in move to 10 percent upfront cash for all loans eligible for purchase by mortgage giants Fannie Mae and Freddie Mac, who together dominate the conventional home-loan sector. But neither the 20 percent nor the 10 percent plan has been adopted and the odds of either moving forward in 2012 are remote. Fannie Mae’s and Freddie Mac’s standard minimums are still 5 percent with mandatory mortgage insurance coverage.

If you have little or no cash to put down, there are multiple options for you: FHA requires just 3.5 percent down on its insured mortgages. Other programs let you go to zero — even finance more than the price on the house when fees are rolled into the mortgage — provided you fit into an eligibility niche. If you qualify as a veteran or active member of the military, you can get a zero-down VA-guaranteed mortgage. Plus the VA allows your seller to pay your loan fees and closing costs provided they don’t exceed 6 percent of the house price.

You can also buy with nothing down if you are purchasing a home in any of the many communities around the country that are eligible for rural (USDA) guaranteed mortgages. Though the property may be located on the outskirts of a large metropolitan area and might not strike you as particularly “rural,” if the local population is below roughly 20,000, there’s a decent chance you’re eligible. The little-publicized USDA guaranteed home loan program, by the way, is booming. In the last fiscal year alone, according to housing administrator Tammye Trevino, more than 130,000 borrowers received low or no down payment guaranteed mortgages — quadruple the number of loans extended as recently as 2006.

What about credit? Haven’t lenders been pushing up minimum FICO scores into the mid-700s and rejecting applications with lower scores outright? Not everywhere. Though most lenders doing FHA loans require 620 to 640 scores to get you in the door, a few of the biggest FHA originators, such asQuicken Loans, will accept scores down to 580.Bottom line: Don’t assume you can’t qualify for a mortgage in 2012. Talk to lenders and seek out loan products that offer flexibility where you need it. You just might be surprised.

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Thu, 01 Dec 2011 12:18:00 -0800 Looking for some cost saving tips? Check out this article. http://ternullorealestate.posterous.com/83275078 http://ternullorealestate.posterous.com/83275078

10 Tips for Saving Energy in the Kitchen

By: Douglas Trattner

Published: August 28, 2009

Maintaining your large kitchen appliances is part of a smart home energy efficiency plan.

 

Refrigerator/freezer

Energy-efficiency experts tell us to focus our efforts on the biggest energy hogs in the house, and that definitely includes the fridge. Because it cycles on and off all day, every day, the refrigerator consumes more electricity than nearly every appliance in the home save for the HVAC systems. The average refrigerator costs about $90 per year to operate, according to the U.S. Department of Energy. The good news is that a few simple adjustments can trim roughly $38 to $45 off those utility bills.

1. Adjust the thermostat. By setting the thermostat colder than it needs to be, you might increase your fridge's energy consumption by as much as 25% on average. Adjust the refrigerator so that it stays in the 37-40 degrees F range. For the freezer, shoot for between 0-5 degrees F. You could save up to $22 per year. If your model doesn't display the current temps, invest in two appliance thermometers (one for the fridge, one for the freezer). They cost roughly $3-$20 apiece at online retailers.

2. Clean the coils. As dust accumulates on the condenser coils on the rear or bottom of the fridge, it restricts cool-air flow and forces the unit to work harder and longer than necessary. Every six months, vacuum away the dust that accumulates on the mechanism. Also, check to see that there is at least a 3-inch clearance at the rear of the fridge for proper ventilation. This routine maintenance can trim up to 5% off the unit's operating cost, says energy savings expert Michael Bluejay, saving you about $4.50 a year.

3. Use an ice tray. Automatic ice makers are a nice convenience, to be sure, but it turns out the mechanisms are energy hogs. An automatic ice maker can increase a refrigerator's energy consumption by 14% to 20%, according to Energy Star. By switching off the ice maker and using trays, you can save about $12 to $18 off your annual electricity bill. Most units require little more than a lift of the sensor arm to switch them off. To reclaim the space remove the entire unit, a simple DIY job on many models. 

4. Unplug the "beer fridge." Many homes have an extra fridge that runs year round even though it's used sparingly. Worse, these fridges tend to be older, more inefficient models. By consolidating the contents to the main fridge and unplugging the additional unit, you eliminate the entire operating cost of a fridge. The second-best solution is to make sure the extra fridge remains three-quarters full at all times. The mass helps maintain steady internal temps and lets the fridge recover more quickly after the door is opened and closed, according to the California Energy Commission

Ovens and ranges

"Green" cooking all comes down to proper time and space management. By using gas and electric stoves more effectively, you can painlessly save a few dollars a year.

5. Cut the power early. As anybody who's ever bumped a burner on an electric stove can attest, those heating elements stay hot long after they've been switched off. Put that residual heat to work by shutting off the burner several minutes before the end of the cook time. The same technique can be applied to the oven. The savings can add up to a couple bucks every month.

6. Match the burner to pan. When a small pan is placed on a big burner you can practically see the money disappearing into thin air. By matching the burner to the pan, electricity won't be squandered heating the kitchen rather than the food. The reverse is true, too. A small burner will take considerably longer to heat a large pan than would an appropriately sized burner. For gas stoves, don't let the flames lick the sides of the pot. Follow these tips and watch the utility bills shrink by a few dollars a month.

7. Do away with preheating. You can save about $2 a month by not preheating your oven (20 cents per hour to operate electric oven; eliminate 20 30-minute preheats a month). Many cooks agree that the practice is wholly unnecessary for all but a few recipes, namely baking breads and cakes. This approach may add a few minutes to the overall cooking time, but it eliminates all that wait time on the front end.

Dishwasher 

As with washing machines, most of a dishwasher's energy needs go to heating the water. Still, says Lane Burt, an energy policy analyst with The Natural Resources Defense Council, a 10-year-old dishwasher can be made nearly as efficient as a newer model simply by knowing when and how to run it. Follow a few simple tips, and you can reduce your annual utility costs by roughly $35-$54.

8. Manage the load. Most dishwashers use the same amount of water and energy whether they're run full or half-full. You can cut your operating costs by one-third or one-half by running the machine only when it's full. It costs about $54 to run a pre-2000 model dishwasher per year, based on government data. Proper load management can save up to $27 each year.

9. Activate energy-saving features. A dishwasher's heated dry cycle can add 15% to 50% to the appliance's operating cost. Most machines allow the feature to be switched off (or not turned on), which can save $8-$27 per year, assuming an operating cost of $54 annually. If your dishwasher doesn't have that flexibility, simply turn the appliance off after the final rinse and open the door. 

10.  Use the machine. Many homeowners believe they can save water and energy by hand washing dishes. The truth is that a dishwasher requires less than one-third the water it would take to do those same dishes in the sink. By running the machine (when full), you can cut down the operating time of the hot water heater, your home's largest energy hog. Not only will you save a buck per month, you won't have to do the dishes.

 

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Mon, 28 Nov 2011 10:35:00 -0800 What is more important price or cost? check out this great article from the KCM Crew! http://ternullorealestate.posterous.com/what-is-more-important-price-or-cost-check-ou http://ternullorealestate.posterous.com/what-is-more-important-price-or-cost-check-ou

The PRICE Is the Same, But the COST Is Less

There is more and more research coming out showing that it makes great financial sense to purchase a home today . Whether it be rent vs. buy ratios, income-to-price ratios or income-to-mortgage payment ratios, purchasing a home right now is a bargain compared to historic norms. Now we want to look at the COST of a home today compared to pre-peak prices.

According to the most recent S&P Case Shiller price index, residential real estate values have returned to 2003 1Q PRICEs. That, in itself, says something. However, when you factor in mortgage rates, the case for buying a home today becomes even more compelling.

In 2003, 30 year mortgage rates stood at 5.88%. Today, they are 4%. How does that impact the actual COST of a home? On a home purchased for $250,000, here is the difference in monthly cost:

That means you save $285.30 a month, $3,423.60 a year and $102,708 over the life of a 30 year mortgage! You buy the home for the same PRICE but the COST is over $100,000 less.

Bottom Line

This is why so many financial advisors are saying that this may be one of the greatest times in history to purchase a home.

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Sun, 02 Oct 2011 11:24:00 -0700 Fallfest 2011! http://ternullorealestate.posterous.com/fallfest-2011 http://ternullorealestate.posterous.com/fallfest-2011

Stop by Ipswitch river park for Fall fest 2011!

Contacst us with any questions.  Hope to see you there!

 

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Sat, 01 Oct 2011 11:01:00 -0700 Home prices post fourth month of gains - From IMNAN NEWS http://ternullorealestate.posterous.com/home-prices-post-fourth-month-of-gains-from-i http://ternullorealestate.posterous.com/home-prices-post-fourth-month-of-gains-from-i

Case-Shiller indices show Las Vegas, Phoenix losing ground in July

 

U.S. home prices inched up for the fourth month in a row, rising 0.9 percent from June to July, according to the latest Standard & Poor's/Case-Shiller Home Price Indices.

Only two of the 20 metro areas tracked by the Case-Shiller 20-City Composite saw month-to-month price declines: Las Vegas (-0.2 percent) and Phoenix (-0.1 percent). The index showed prices in Las Vegas down 59.3 percent from their August 2006 peak, hitting a new low.

Looking back a year, 18 out of 20 metro areas saw annual price declines, with the price index for Minneapolis falling 9.1 percent, Phoenix down 8.8 percent, and Portland, Ore., dropping 8.4 percent.

Detroit (up 1.2 percent) and Washington D.C. (up 0.3 percent) were the only cities to post annual gains in July, leaving the 20-City Composite down 4.1 percent.

But a dozen other cities -- Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Las Vegas, Miami, Minneapolis, Phoenix, Portland, and Tampa -- posted improvements in annual price declines compared to June.

Metros tracked in Case-Shiller 20-City Composite


Metro

Change June-July

Change from year ago

Atlanta

0.2%

-5.0%

Boston

0.8%

-1.9%

Charlotte

0.1%

-3.9%

Chicago

1.9%

-6.6%

Cleveland

0.8%

-5.4%

Dallas

0.9%

-3.2%

Denver

0.0%

-2.1%

Detroit

3.8%

1.2%

Las Vegas

-0.2%

-5.4%

Los Angeles

0.2%

-5.4%

Miami

1.2%

-4.6%

Minneapolis

2.6%

-9.1%

New York

1.1%

-3.7%

Phoenix

-0.1%

-8.8%

Portland

1.0%

-8.4%

San Diego

0.1%

-5.9%

San Francisco

0.3%

-5.6%

Seattle

0.1%

-6.4%

Tampa

0.8%

-6.2%

Washington, D.C.

2.4%

0.3%

10-City Composite

0.9%

-3.7%

20-City Composite

0.9%

-4.1%

Source: S&P Indices and Fiserv

 

Standard & Poor's said the report included some "unusually large revisions" across some metro areas. Detroit was the most affected, with additional sales in May and June showing "a much healthier market than previously thought."

 

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Tue, 06 Sep 2011 10:55:00 -0700 Reading Ma ranks in CNBC's 10 Perfect suburbs http://ternullorealestate.posterous.com/reading-ma-ranks-in-cnbcs-10-perfect-suburbs-17405 http://ternullorealestate.posterous.com/reading-ma-ranks-in-cnbcs-10-perfect-suburbs-17405

http://www.cnbc.com/id/44347217?slide=1

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Tue, 06 Sep 2011 09:44:00 -0700 Reading Ma ranks in CNBC's 10 Perfect suburbs http://ternullorealestate.posterous.com/reading-ma-ranks-in-cnbcs-10-perfect-suburbs http://ternullorealestate.posterous.com/reading-ma-ranks-in-cnbcs-10-perfect-suburbs

http://www.cnbc.com/id/44347217?slide=1

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Tue, 30 Aug 2011 08:17:00 -0700 Boston Real Estate is Outperforming most of the Country http://ternullorealestate.posterous.com/boston-real-estate-is-outperforming-most-of-t http://ternullorealestate.posterous.com/boston-real-estate-is-outperforming-most-of-t

Boston is # 3 as monthly chage is up 2.4% from May, and # 3 as prices only declined 2.1% from last year ( while we had the tax credit)

 

 http://on.wsj.com/r4Yx0P

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Wed, 24 Aug 2011 12:33:00 -0700 Home Buying Tips- Home Inspections http://ternullorealestate.posterous.com/home-buying-tips-home-inspections http://ternullorealestate.posterous.com/home-buying-tips-home-inspections

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Sun, 14 Aug 2011 18:33:00 -0700 Stoneham Market Snapshot - Condos Aug 2011 http://ternullorealestate.posterous.com/stoneham-market-snapshot-condos-aug-2011 http://ternullorealestate.posterous.com/stoneham-market-snapshot-condos-aug-2011

Sales have decreased since last year about 24%.  (Somewhat expected due to tax credit) During the last 2 months however,  there has been a severe decrease in homes coming under agreement while the amount of homes for sale has stayed relatively flat (65 homes).  This amount of extra inventory makes it very favorable for buyes, but makes it much more challengng for sellers.

 

StonehamCondoAUG2011.pdf Download this file

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Fri, 12 Aug 2011 08:49:00 -0700 National Real Estate News- Boston outperforms 24 of 25 top metro areas http://ternullorealestate.posterous.com/national-real-estate-news-boston-outperforms http://ternullorealestate.posterous.com/national-real-estate-news-boston-outperforms

See full article here http://bit.ly/prYOk8

A  bumby road is predicted ahead in real estate... However , we are lucky in the Boston area that we are outpreforming the national market. Numbers are only slightly down from last year, not bad considering we had the tax credit then. Many communities we service are also much less than 20% off from the peak.

 


REAL_ESTATE.pdf Download this file

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Fri, 12 Aug 2011 08:42:00 -0700 Reading Market Report Aug 3, 2011 http://ternullorealestate.posterous.com/reading-market-report-aug-3-2011 http://ternullorealestate.posterous.com/reading-market-report-aug-3-2011

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