GNAR News 3/02/11

CARAVAN and Weekly Meeting at GNAR
The meeting will be at the GNAR at 9am followed by the caravan as follows:

3 Riverview Drive, Newbury – SF 6/3/2  $369,900 (off High Road)
Gretchen Maguire – RE/MAX On The River, 978-499-8808

8 William Hall Drive, NBPT – SF 9/4/2.5 $729,000 (off 113)
Sally Longnecker – J Barrett & Company, 978-807-0662

 37 Whittier Meadows, Amesbury – Condo 2/2.5  $239,000
Tamora Flahardy – Heritage Realty Associates, 978-504-1946

16 Paige Farm Road, Amesbury – SF 6/3/2.5 $399,900 (off 110)
Lela Wright – Stone Ridge Properties, 978-815-6690 (for Mike Webber)

42 Paige Farm Road, Amesbury – SF 8/4/2.5 $399,900 (off 110)
Sally Gallagher – Stone Ridge Properties 978-771-1756

Broker Open House
141 Hillside St, Rowley — Karin Beirne will be hosting a broker open house from 10am to 11am.  8/4 /2.5  $469,000.  Rte 1 to Wethersfield to Hillside
Janet Hilton -Country Crossroads Realty,  (978) 948-5333 

MAR Report Post Published: 28 February 2011
Have you considered the FHA 203(k) Rehab Loan?
In case you didn’t see it, Fox 25 in Boston reported on a under-used loan program from FHA called the 203(k) rehabilitation loan.  Now, I’m sure there are plenty of you out there who know about it, but despite that, it was used less than 1,000 times out of 37,000+ home sales in 2010.   So, for those of you who haven’t heard, now you know.  For those of you who do know, consider this a reminder. Here’s the official summary from HUD.
Check out the video below.
Little-known home loan for fixer-uppers:

MAR Report Posted: 25 Feb 2011 11:06 AM PST

Questions about our local Massachusetts housing data
 You might have read news reports that the existing home sales data issued by the National Association of REALTORS® (NAR) has been challenged by the real estate data company CoreLogic for “over reporting sales figures”. While the economists and statisticians at NAR are looking into this potential flaw in their reporting, I wanted to explain why this will have NO impact on the Massachusetts Association of REALTORS® (MAR) monthly data.

Both NAR and MAR report their sales figures from data provided by Multiple Listing Services (MLS). However, that is where our similarities end. Because NAR has to compile data from hundreds of MLSs across the country, it’s more efficient and timely to take a statistically valid sample and use statistical models to produce a final number. In Massachusetts we only have three MLSs, and as a result, we are able to aggregate the actual number of homes bought and sold on a monthly basis.

In addition, because NAR’s universe includes markets from across the country that experience different high and low selling seasons, it is important to seasonally adjust the national data to create an accurate comparison. In Massachusetts we don’t. We simply provide the actual year-over-year monthly data, the actual month-to-month data and the percent change (in addition to inventory, month’s supply and average days on market).I hope this answers your potential questions.  Here is a link to FAQ on NAR existing home sales housing data.



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