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.

Posted by: RAPV | June 18, 2015

Interest Rates Expected to Rise

At a June 17th news conference Chairwoman of the Federal Reserve, Janet Yellen, was clear about three things.

  1. Rates will start rising later this year.  Both Lawrence Yun, NAR Chief Economist and Eliot Eisenberg, the BowTie Economist, have stated the rise will likely occur in mid-September,
  2. Rates will rise by 1 percentage point every 12 months for the next three years, which is unusually slow, just half as fast as in past rate-rising cycles, and
  3. Sustained GDP growth above 2.5 percent/year is not expected soon.

A snow-choked winter has given way to a strong spring for home sales in the Pioneer Valley.  Sales of single family homes rose 16.2 percent in May.  There were 438 homes sold in May, up from 377 homes sold in May 2014.  The median price was down 2.2 percent from $205,000 to $200,470.

The full news release includes separate reports for Hampden, Hampshire and Franklin counties.  The numbers by county will vary.  View the full report.

We are happy to report that the Director of the Consumer Financial Protection Bureau (CFPB) announced the Bureau will be implementing a good-faith enforcement grace period when the new Truth in Lending Act and Real Estate Settlement Procedures Act (TRID) regulation goes into effect on August 1.  This does not delay implementation.  A good-faith ‘open-ended’ grace period does delay enforcement.

The CFPB announced that it would be “sensitive” to companies that make a good-faith effort to comply with the new TRID regulation.  This is a welcome development.

The announcement by CFPB is a net win but less than what some Members of Congress requested, which was a hard deadline five-month testing or “grace” period.  NAR has been leading the effort to ensure an effective implementation of the TRID regulation.  They will continue to have a dialog with Congress and the CFPB as we move toward August 1.  It was through RAPV members efforts, and those of thousands of Realtors® from across the country during the Realtor® Legislative Mtgs & Trade Expo a few weeks ago in D.C. that more than 275 U.S. Senators and Representatives signed onto a letter to CFPB Director Richard Cordray to ask for the clarification that was issued yesterday..

Read this helpful article.

For more information on this topic visit NAR’s RESPA page.

The Massachusetts Association of Realtors (MAR) released their April sales report yesterday.  MAR President Corinne Fitzgerald comments on inventory levels. 

Highlights:
Statewide single family (SF) sales down 5.9 percent
Statewide median price up 2.3 percent to $326,500
Inventory of SF homes down 19.2 percent

Compared to the Pioneer Valley (RAPV)
RAPV sales up 5.8 percent
Median price up 0.4 percent to $185,750
Inventory of SF homes down 8.5 percent

Read Corinne’s comments and view the full MAR report here.

REach is NAR’s growth technology accelerator program.  Part of NAR’s Second Century Ventures, REach 2015 introduces truly phenomenal organizations that are innovating both within and beyond the real estate space.

Take a look at the entrpreneurial spirit and energy that this class embodies.  2015 REach products and services.

Posted by: RAPV | May 21, 2015

April single family sales climb 5.8%

Sales of single family properties in the Pioneer Valley rose 5.8 percent in April compared to the same time last year.  This marks the fifth consecutive month of rising sales.  The median price rose 0.4 percent to $185,750. County reports will vary.

Full report.

For a 5 year history of sales in the Pioneer Valley, visit the web site of the REALTOR Association of Pioneer Valley.

Posted by: RAPV | May 18, 2015

NAR Apps

Access National Association of Realtors news, tools and tips from your mobile phone or tablet at NAR Apps.

Posted by: RAPV | May 7, 2015

Free Guide to Closing Open-House Visitors

Realtor.com® is offering a free guide with dialogues and scripts to help you get a higher rate of success from your open house.

Single family home sales in March were down less than one quarter of a percent as reported today by the Massachusetts Association of Realtors.  The report compared to the same time last year.  The median price rose 1.9 percent to $320,000.  A shortage of homes for sale has been reported across much of the state.  Here is a link to the March 2015 housing report

Posted by: RAPV | April 23, 2015

Claim Your Free REALTOR® Profile on REALTOR.com

Did you know you are able to post your profile on Realtor.com.  It’s free!   First, there is a helpful reference link where you can find an abundance of help with enhancing your profile.  This information can be found here.  Next, is the link to the Agent Profile video – entertaining and informative – and only 2 minutes 16 seconds. Take advantage of this free personal marketing opportunity.

Sales of single family properties in the Pioneer Valley (MA) rose 14.2 percent in March compared to the same time last year.  This marks the fourth consecutive month of rising sales.  The median price dropped 2.8 percent to $180,000.  This marks the first drop in the monthly median price since August 2014.

Read the full report which includes inventory, supply, days on market, and pending sales.  Individual county reports will vary.

For a 5 year history of sales in the Pioneer Valley, visit the web site of the REALTOR Association of Pioneer Valley.

Posted by: RAPV | April 15, 2015

Credit Score Changes in the Works

Voice for Real Estate Video
Credit Score Changes
Surge in Vacation Home Sales
Drone Rules

Credit scoring changes are in the works. That’s the top story in the latest The Voice for Real Estate, NAR’s news video program. HUD Secretary Julian Castro spoke at the NAR building in Washington to tell real estate and mortgage industry experts that FHA is looking at the way it measures creditworthiness.  Also covered in this report: Sale of vacation homes surge, and Drone Rules.

Posted by: RAPV | April 13, 2015

How much do you know about today’s home buyers?

Test your knowledge.  Take this quiz, based on the findings of the NAR 2014 Profile of Home Buyers and Sellers, to find out how much you know about today’s home buyers.

Once on the site, you can also read highlights from the report, or buy the full report.

Some information on the NAR site is password protected and accessible only to members of the National Association of Realtors®.  (Note: Association members will need their NAR login name and password.)

As the Internet continues to evolve, you can be at the forefront of change. Create a .REALTOR web address and instantly tell the world you are a REALTORAnyone can create a .com web address, but only REALTORS can have a .REALTOR web address, differentiating REALTORS from other real estate professionals.  Learn all you need to know to set up your personal .REALTOR web address.

The domain is free to the first 500,000 REALTORS who register.  VIew a short video.
Click here to claim you .REALTOR domain.

The HUD-1 and other long-used closing documents are going away on August 1.  REALTORS and other industry professionals should no longer expect to be able to make last minute changes at the closing.  They should prepare clients for this as well.  REALTORS will need to adapt and pre-plan to avoid a bumpy transition.  RAPV will present an information session later this spring (date to be announced).

Read more and view a brief video.

More people found their transacting agent on realtor.com® than on zillow.com, trulia.com or homes.com, according to NAR’s 2014 Profile of Home Buyers and Sellers.
Learn more.

Sales of single family properties in the 3-county Pioneer Valley area of western Massachusetts rose 3.7 percent in February compared to February 2014.  The median price rose 11.2 percent to $189,000.  Individual county reports vary.

Read the full report here.

Posted by: RAPV | March 18, 2015

7 Predictions for What Homes Will Look Like in 2020

What is the “near-future” for home design?  Storage, gadgets, furniture and space take on new meanings.  Read more here.

Source: FastCo and IKEA.

Posted by: RAPV | March 5, 2015

5 Tax Mistakes New Homeowners Make

New homeowners are advised to avoid these 5 common mistakes at tax time.
Source: Realtor.com

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