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Western Massachusetts Real Estate Economic Outlook Improved

Map showing the counties typically considered ...
Map showing the counties typically considered to make up Western Massachusetts (dark green). Worcester County is considered to be either western or central Massachusetts (light green). (Photo credit: Wikipedia)

Over the past few weeks the economic outlook for real estate has improved in Western Massachusetts. As a real estate agent in Western Massachusetts for the past 23 years, I have seen a lot of change in the local real estate market. Park Square Realty has noticed a few key elements that will impact the real estate market in Western MA this Spring.

Mortgage rates have been at a lifetime low, but they won’t last forever. Over the past week the rates have been creeping up and it is probably time to ask your lender about a “rate lock” and start seriously hunting for your new home.

Rising interest rates could spur more activity in home sales in Western Massachusetts. As a home buyer this means you want to get out there quickly and get your dream home before the competition grows. If you are a home seller in Western MA then you want to get your house on the market now to try to be there when the buyers show up.

This January and February have been the best two months in winter home sales in the past five years.

Let’s hope these economic indicators are a sign of improvement in Western Massachusetts real estate!

If you are looking to buy a home in Western MA or sell your Western MA home, I will help you make it happen!

 

 
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Lesley Lambert
Park Square Realty
4135753611
realestate.lesleylambert@gmail.com
 

 

 
Search All Homes For Sale
Free List of Foreclosed Homes For Sale
What is your home worth?
Homes Close to Where You Work
Lesley Lambert
Park Square Realty
4135753611
realestate.lesleylambert@gmail.com
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Define Tech Savvy

 

This week I received my first really nasty comment on my blog.

 

English: iPad tablet
Image via Wikipedia

My first instinct was to delete and ignore.  My mother always warned me that engaging with angry people is fruitless and much like poking a tiger.

My second thought was, wait, there is a blog post here.  It might be a sort of blogger’s illness that I want to turn everything into a blog post, but I really want to explore the question that this nasty comment brought up and I want your input, too.

Do me a favor, though?   Make the comments a bit less nasty.  On second thought, maybe I find nasty comments inspiring.

Without further ado, here is the aforementioned comment:

The fact that you have facebook, twitter and a blog doesn’t make you tech saavy it makes you like everyone else in the world including my 10 year old nephew. Do you know XML? PHP? C+? Ruby on Rails? CSS? I didn’t think so. You real estate agents are pathetic.

I used that quote directly via cut and paste and left the bad spelling in place but I do know how to spell SAVVY.

Now, I CAN actually do some amateur coding, but I really don’t see how that is relevant to being a tech savvy real estate agent.  Is Ruby on Rails going to assist me when negotiating a contract?  Do I need to know CSS to assist a buyer client in finding their perfect home?

I use technology to be a more efficient and effective real estate agent in Western Massachusetts.

I define tech savvy as the ability to use technology to perform my job in a better way than I could without the technology.  I think my effective use of iPhone, iPad, a blog, cloud applications and social media does make me tech savvy.

How do you define Tech Savvy?

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On Foreclosure, Short Sales and First Time Buyers in Western MA

COMMERCE CITY, CO - SEPTEMBER 03: Local resid...
Image by Getty Images via @daylife

The economy is creating a strange situation.  On the one hand, people are in tight spaces and are being forced to face reality and leave their homes via distressed sales like a Short Sale or Foreclosure.

On the other hand, home prices in Western Massachusetts have hit what many consider the bottom and interest rates are the lowest we are likely to to see in our lifetime.  This creates a great buying environment, especially for investors and first time buyers.

 

Here are some interesting facts that were brought up at the Massachusetts Association of REALTORS state conference earlier this fall…

 

– They just raised the “Right to Cure” in Massachusetts…. It’s a minimum of 150 days before and bank/lender can start foreclosure proceedings… (This is due to the volume of foreclosures)

– 1 out of every 3 properties in Massachusetts are distressed…

– 34% of all sales (2010) were first time home buyers…

– 13% of all sales are short sales …

– 27% of all sales are foreclosed properties.

– 22% of all sales are investment properties.

– 35% of all sales are cash sales.

If you are a homeowner in Western MA that needs help with a distressed sale, I have the experience it takes to get your home sold and help you move on with your life.

If you are a home buyer in Western MA, I can help you to find the best opportunity for you no matter if you are a first time buyer, investment buyer or move up buyer.

Contact me, Lesley Lambert of Park Square Realty at 413-575-3611 or use the contact me button to the left of this post.

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How is the Real Estate Market in Western Massachusetts?

I am asked a version of this question each day. As a REALTOR in Western MA, it isn’t surprising that people come to me with this question, but it isn’t always an easy answer.

There are still a lot of changes in the housing, real estate and mortgage sector and these can be confusing to most people.

Today while driving to show a house, I listened to “On Point”, on NPR. Their interview with three authorities proves that real estate is local and that mainstream national media figures are not usually reflective of what is happening here for real estate in Western MA.

Most areas of Western MA were not driven as high during the boom. As such, they didn’t feel as much of the crash, either. There are, however, areas in Western MA that were heavily impacted with foreclosures. It pays to have a local expert who can discuss the facts as they apply to your home.

If you are curious about the housing market and what the future may hold, I recommend that you listen to this story…I found it very informative.

Western MA: Park Square Realty has Good Real Estate Market News!

Charlie Brown: Good News Charlie Brown
Western Massachusetts, here is some good real estate news!

Based on Park Square Realty’s Showdesk Tracking, during the same 3 month period from 2010 and 2011:

2011 showed 22 more pending sales (+ 61.1% increase).

This year, we had 262 fewer recorded showings on Park Square listings (40.4% decrease).. This means that we are experiencing less showings yet more sales.

The average Sale Price of a home represented by Park Square Realty in Western Massachusetts is up from $153,750 (in 2010) to $ 192,927 (in 2011) which is a 25.5% increase.

WHAT DOES ALL THIS TELL US?

Things are getting better in the Western MA real estate market!

– More Park Square Listings are selling… (great sign)

– Less Showings yet More Sales – this means buyers are buying quicker… (great sign)

– Average Sale Price is up 25.5%… (great sign)

This also means that it’s a really great time to put your house on the market (inventory is down and buyers are buying).

There is a basic SUPPLY & DEMAND issue… Less Supply = More Demand and the home sellers that move fast will be the ones to capture the market.

If you are thinking of selling your Western MA home, I hope you will give me an opportunity to interview for the job.

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