Hello everybody. I hope I don't shoot myself in the foot when I say this, but who's to blame for all the foreclosures and tough economic times...It seems everybody is blaming the public and the buyers...Let's not forget, everyone needs a home...a roof over their heads...a place where they can come home from a long day at work and say it was all worth it...and they are the working people...one job...two jobs...
Let's not forget...the ones lending the money really don't care if you can pay back...they make a profit either way...whether you pay up every month or find that even though you are working 2 jobs and still can't make ends meet and let the mortgage payment slide because you have to put food on the table....
Let's not forget that banks have wanted to enter the Real Estate business of selling Real Estate. The National Association of Realtors has been fighting it. To quote another blog...
"Folks, the vast majority of market share goes to a few big chains. You've heard the names. You know who they are. One belongs to one of the world's biggest financial corporations. Four of them, that most people think of as being competitors, are nothing more than different brands owned by the same company. On that scale, independents like the one I work for - thousands of brokerages nationwide, some of them in multiple locations - account for a grand total of about fifteen percent of market share, last I checked. The big national chains get the rest. They're just as corporate as the lenders, and they're anxious to protect their turf from the one group of potential competitors who have some kind of understanding of the business and otherwise low barriers to entry."
Whose interests are being served?
Saturday, September 22, 2007
Thursday, September 6, 2007
Mixed month for the Cape real estate market
Property value, median price and foreclosures all rise on Cape
Cape Cod Online/Cape Cod Times
September 06, 2007
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In a mixed month for the Cape real estate market, property value, sales volume, median price and foreclosures were all up in August, according to data from the Barnstable County Registry of Deeds.
Nonetheless, Register of Deeds John Meade said, "August was a pretty good month given what we've been looking at for the last six."
The registry, which tracks commercial and residential transactions valued at more than $50,000, recorded 591 deeds in August, an increase of more than 20 percent over activity in the same month last year.
These numbers include increased activity in the $500,000 to $900,000 price range, which Meade said could be a hopeful sign.
"I don't want to put too much stock in one month's worth of transactions, but what that's an indicator of is that that price end of the market is not completely stalled out," he said.
Overall this year, the registry has recorded 4,359 sales, an increase of 2.1 percent as compared with the same period in 2006.
The median sale price last month was the highest yet this year at $355,000, meaning that half the transactions were valued above that number and half below. This price is up from the August 2006 median of $350,000.
Median sales value has increased for each of the past four months from a low of $325,000 in May.
This pattern, Meade said, might encourage hesitant buyers to venture into the real estate market.
"If we can see another month or two of this going forward, people can start feeling better about the market," he said. "There's a lot of people still waiting to jump in."
To date in 2007, the median sale price is $342,500, a decrease of 7.4 percent when compared with the same period last year, when the median sale value was $370,000.
The total value of all transactions in the county in August was up nearly 80 percent — to $423.4 million — though that number is inflated by the sale of four Tedeschi shopping centers, Meade said.
Early last month, Tedeschi Realty Corp. sold the Skaket Corners Shopping Center in Orleans; Star Market plazas in Harwich and Hyannis; and the Stop & Shop Plaza off Route 6A in Sandwich. Those properties were sold as part of a $377 million deal for 25 shopping centers owned by Tedeschi across southern New England.
For the year, however, the total sales volume in Barnstable County is still off about 6 percent when compared with the same period in 2006.
Foreclosures saw the sharpest increase.
The 31 foreclosures completed on the Cape in August bring the total for the year to 169 — more than triple the total through the first eight months of 2006.
Real Estate For sale and Open Houses on Cape Cod
Cape Cod Online/Cape Cod Times
September 06, 2007
--------------------------------------------------------------------------------
In a mixed month for the Cape real estate market, property value, sales volume, median price and foreclosures were all up in August, according to data from the Barnstable County Registry of Deeds.
Nonetheless, Register of Deeds John Meade said, "August was a pretty good month given what we've been looking at for the last six."
The registry, which tracks commercial and residential transactions valued at more than $50,000, recorded 591 deeds in August, an increase of more than 20 percent over activity in the same month last year.
These numbers include increased activity in the $500,000 to $900,000 price range, which Meade said could be a hopeful sign.
"I don't want to put too much stock in one month's worth of transactions, but what that's an indicator of is that that price end of the market is not completely stalled out," he said.
Overall this year, the registry has recorded 4,359 sales, an increase of 2.1 percent as compared with the same period in 2006.
The median sale price last month was the highest yet this year at $355,000, meaning that half the transactions were valued above that number and half below. This price is up from the August 2006 median of $350,000.
Median sales value has increased for each of the past four months from a low of $325,000 in May.
This pattern, Meade said, might encourage hesitant buyers to venture into the real estate market.
"If we can see another month or two of this going forward, people can start feeling better about the market," he said. "There's a lot of people still waiting to jump in."
To date in 2007, the median sale price is $342,500, a decrease of 7.4 percent when compared with the same period last year, when the median sale value was $370,000.
The total value of all transactions in the county in August was up nearly 80 percent — to $423.4 million — though that number is inflated by the sale of four Tedeschi shopping centers, Meade said.
Early last month, Tedeschi Realty Corp. sold the Skaket Corners Shopping Center in Orleans; Star Market plazas in Harwich and Hyannis; and the Stop & Shop Plaza off Route 6A in Sandwich. Those properties were sold as part of a $377 million deal for 25 shopping centers owned by Tedeschi across southern New England.
For the year, however, the total sales volume in Barnstable County is still off about 6 percent when compared with the same period in 2006.
Foreclosures saw the sharpest increase.
The 31 foreclosures completed on the Cape in August bring the total for the year to 169 — more than triple the total through the first eight months of 2006.
Real Estate For sale and Open Houses on Cape Cod
Sunday, September 2, 2007
Cape Cod Real estate sales volume dips in July
Cape Cod Real estate sales volume dips in July
GateHouse News Service
Thu Aug 09, 2007, 12:43 PM EDT
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Orleans -
Barnstable County Register of Deeds John F. Meade said the volume of real estate sales in July 2007 was down 1.5 percent from July 2006 volume and the total value of sales was down 9.5 percent from the previous year. The median individual property sale value was down 5.3 percent from the previous year. There was a 17.1 percent decrease in the volume of mortgage activity from July 2006 levels.
Year to date: Volume of sales is down 0.3 percent; total value of sales is down 15 percent; individual sales value is down 8.4 percent; mortgage volume is down 10.8 percent.
Meade said there were 518 deeds recorded at the Barnstable Registry of Deeds in July 2007 with stated sales values above $50,000, representing a stated value of $240,902,130 in county-wide real estate sales.
Based on all property sales value above $50,000, the median sale price of property in Barnstable County in July was $345,500.
There were 1,457 mortgages recorded with values above $50,000 in July with a total of $417,239,157. The median mortgage amount, commercial, residential or other, was $204,120.
For comparison, there were 526 deeds recorded at the Barnstable Registry of Deeds in July 2006 with stated values above $50,000, representing a stated value of $266,175,690 in county-wide real estate sales. Based on all property sales valued above $50,000, the median sale price of property in Barnstable County in July was $365,000.
There were 1,693 mortgages recorded with values above $50,000 in July with a total value of $467,607,846. The median mortgage amount, commercial, residential or other was $210,000.
Real Estate Open Houses on Cape Cod
GateHouse News Service
Thu Aug 09, 2007, 12:43 PM EDT
--------------------------------------------------------------------------------
Orleans -
Barnstable County Register of Deeds John F. Meade said the volume of real estate sales in July 2007 was down 1.5 percent from July 2006 volume and the total value of sales was down 9.5 percent from the previous year. The median individual property sale value was down 5.3 percent from the previous year. There was a 17.1 percent decrease in the volume of mortgage activity from July 2006 levels.
Year to date: Volume of sales is down 0.3 percent; total value of sales is down 15 percent; individual sales value is down 8.4 percent; mortgage volume is down 10.8 percent.
Meade said there were 518 deeds recorded at the Barnstable Registry of Deeds in July 2007 with stated sales values above $50,000, representing a stated value of $240,902,130 in county-wide real estate sales.
Based on all property sales value above $50,000, the median sale price of property in Barnstable County in July was $345,500.
There were 1,457 mortgages recorded with values above $50,000 in July with a total of $417,239,157. The median mortgage amount, commercial, residential or other, was $204,120.
For comparison, there were 526 deeds recorded at the Barnstable Registry of Deeds in July 2006 with stated values above $50,000, representing a stated value of $266,175,690 in county-wide real estate sales. Based on all property sales valued above $50,000, the median sale price of property in Barnstable County in July was $365,000.
There were 1,693 mortgages recorded with values above $50,000 in July with a total value of $467,607,846. The median mortgage amount, commercial, residential or other was $210,000.
Real Estate Open Houses on Cape Cod
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