According to the U.S. Census Bureau, millennials number 83.1M – more than one quarter of the nation’s population. Millennials are a powerful buying force and their preferences will greatly impact the economy and shape of the residential real estate market. They are the most racially diverse and educated generation. The infographic in this article shows various characteristics of millennials and what they value in the homebuying and selling experience. It also highlights their untapped demand for homeownership, which brings great opportunities in real estate for those who are positioned to serve them.
A study by online brokerage Redfin found that average sellers net more above asking price during December, January, February and March than they do from June through November, even in cold weather regions. And homes listed in winter sold faster than those posted in spring. Share the article found here with sellers reluctant to list now.
NAR’s G-Fee Call for Action has been extended until Nov. 20. If you and those in your office have responded, thank you. You are among the 148 RAPV members who have acted. If not, please do so and encourage your colleagues to take action and urge federal lawmakers to oppose the proposed use for transportation projects of guarantee fees (g-fees) charged by Freddie Mac and Fannie Mae. G-fees add to the cost of obtaining a mortgage, and NAR is against using them for purposes not related to housing. Between now and Nov. 20, the U.S. House of Representatives will be working on a long-term transportation bill that could contain extended G-Fees. By keeping the Call for Action open REALTORS® will have an opportunity to take action while the final bill is crafted. Act now at Call for Action and encourage others to do the same..
NAR’s recent Housing Pulse Survey shows a vast majority of Americans believe that buying a home is a solid financial decision. The survey measures consumers’ attitudes and concerns about housing issues. 68 percent believe that now is a good time to buy.
To view the key findings and learn more, visit Housing Pulse Survey.
September single family real estate sales rose 19 percent in the Pioneer Valley of western Massachusetts. The median price rose 4.1 percent from $191,750 last year at this time to $199,700 this year.
To view a 6-page detailed report, visit September Sales. The report includes single family and condo sales, inventory, days on market, and pending sales for the Pioneer Valley and separate reports for Franklin, Hampden and Hampshire counties.
View the 5-year history of sales in the Pioneer Valley.
President Obama designated October as National Cyber Security Awareness Month. Governor Charlie Baker made a similar proclamation. Cyber Security Awareness Month is designed to engage and educate public and private sector partners through events and initiatives with the goal of raising awareness about cybersecurity and increasing the resiliency of the nation in the event of a cyber incident. More information on cyber safety can be found here:
What you can do to protect yourself from the latest Wire Scam targeting real estate transactions:
- Secure your computer systems and email accounts and encourage your clients to do the same
- Prior to making any transfers, parties should confirm all emailing wiring instructions directly with the escrow officer via telephone
- If any party in the transaction has received suspicious or questionable wiring instructions, all parties should be notified immediately
- Carefully review your E&O Policy to see if your policy covers cybercrime
In a win for real estate, the U.S. Supreme Court struck down a local sign restriction in Arizona that could have set a troubling precedent for open house and other temporary signs. Learn about it in NAR’s latest news video, The Voice for Real Estate for the week of September 7. Other stories: Access a list of 1,300 companies and individuals cleared to operate drones commercially, including for taking aerial real estate photos and videos. And, despite recent volatility in the stock market, home sales are on track for a strong year.
The Realtor Association of Pioneer Valley reported today that single-family home sales in July were up 30.8 percent compared to the same time last year. The median price rose 3.8 percent from $199,750 last year at this time to $207,250 this year. County reports vary. View the full report.
It is intermission. We have seen the first act of 2015 and many are enjoying the show. Sales have come up every month this year. The median price has been up 3 out of the past 6 months. In June, closed single family sales increased 4.9 percent. The median price was down 1.5 percent to $201,000. Individual counties vary. Read the full report.
Many homeowners and homebuyers are not aware of the true value a Realtor® provides during the course of a real estate transaction. The list here on the home page of the RAPV website is just a baseline of services. Many Realtors® routinely provide a wide variety of additional services that are as varied as the nature of each transaction. Know and share your value.
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The May 2015 housing release issued today by the Massachusetts Association of Realtors shows May single-family home sales down 5.2% over last year. The May single-family median price was down 1.5% at $341,000.
By comparison, May sales in the Pioneer Valley rose 16.2% compared to May 2014. The median price was down 2.2% to $200,470.