GNAR News 01/26/11

No Caravan on 1/27/11 – Due to predicted poor weather there will not be a Thursday Caravan or weekly meeting at the GNAR, drive safely everyone!

Parking Ban News from City of Newburyport 
The Mayor, in cooperation with the Department of Public Services and the Newburyport Emergency Management Agency, is calling for a snow emergency & parking ban starting Wednesday evening January 26, 2011 at midnight and lasting until 6:00 PM Thursday evening January 27, 2011. Off street parking will be in effect during the snow emergency/parking ban.  If any vehicles are parked in areas which are considered on-street parking they will be ticketed and towed. The reason for the snow ban is to allow the DPS to clear the snow and widen the streets.

The Parking Ban Blue Lights will be turned on at 4:00 PM on January 26 to notify residents.  City crews continue to remove snow throughout the city to improve safety and access in many areas.The Mayor and the Newburyport DPS greatly appreciate your cooperation and understanding during this busy winter season.  If you have not already registered for Reverse 911 notifications on the City Web Site you are encouraged to do so as it is a primary method of communication the City uses to convey information about emergencies taking place in the City.

MAR Reports

Results of the 2010 Mass Profile of Home Buyers and Sellers report released.

Posted: 19 Jan 2011 07:29 AM PST
In case you missed it last week (multiple snow storms can do that), we issued the results of our annual Massachusetts Profile of Home Buyers and Sellers Report.  While you need to be a member of the Massachusetts Association of REALTORS® to access the report, here are a few interesting facts that we wanted to share.  To see more, click here to access the news release.

  • When first-time and repeat home buyers were asked “what was the primary reason they purchased a home in 2010,” 36 percent responded it was the “desire to own a home”
  • The study also reported that 55 percent of all homes purchased in the Bay State in 2010 were made by first-time home buyers (compared to 50 percent nationally).
  • The median income of buyers (which is reported from 2009 household data) was down to $82,100 compared to $94,800 in 2008 and higher than the $72,200 national median income.
  • The study showed that 94 percent of Massachusetts home sellers chose to work with a real estate professional, which is six percent higher than the 88 percent national average.
  • The median age of the home seller was 46 years (which is up from 44 years in 2009) and they had a median income of $108,900 (the US median was $90,000).

Just so you know, the 2010 Massachusetts Profile of Home Buyers & Sellers was compiled by the National Association of REALTORS® (NAR), on behalf of the Massachusetts Association of REALTORS® (MAR).

Mortgage Interest Deduction update.
 Posted: 20 Jan 2011 07:30 AM PST
Back in December we wrote a post titled “ The housing market needs the mortgage interest deduction and you can help“. The article’s intent was to let you know that a suggestion was made to modify or eventually repeal the mortgage interest deduction (MID), one of the most important tax incentives for home ownership for over 80 years, as a good way to help improve the country’s fiscal situation. Since we wrote that post, we wanted to let you know that Congressman Gary Miller (R-CA) and a group of bipartisan cosponsors have introduced House Resolution 25 (HRes 25), a resolution that affirms the importance of the mortgage interest deduction and urges retention of current law. He has circulated a letter to all House members to secure additional cosponsors.The National Association of REALTORS(R) is also working to let Congress know why the MID is important to the housing market and the overall US economy.We’ll continue to provide more updates as we receive them.






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