GNAR News — 6/15/11

2011  REALTOR  OF THE  YEAR  CELEBRATION
A great networking opportunity and a chance to EXPLORE the Custom House Maritime Museum with friends and family.  For more information or if you did not receive an invitation or wish to add your friends & family, click here:  http://www.punchbowl.com/parties/2210863-realtor-of-the-year   Please rsvp via the evite ASAP so that we may get a count for catering.   Tickets before the event are $15,
day of the event $20.

Brief information on current CHMM exhibits –



RISK AND REWARD
Masters and Merchants in the making of Newburyport
Rewards for shipmasters, sea captains and merchants alike could be enormous, as were their risks. Far too often an entire ship would be swallowed by North Atlantic gales.  In families of 7, 8 or 9 siblings, it was not uncommon for more than half to have been lost at sea.  Associations like the Marine Society of Newburyport, founded in 1772, were formed to help lower these risks.  A great opportunity to learn about the earliest residents of our City.

“Clarissa” EXHIBITION
This exhibit opened May 18 and runs through only through June 30.    Comprising uniforms, accessories, keepsakes and photos from Elinor Bachelder’s (of North Hampton) World War II service, the exhibit provides a personal glimpse into the women of the “Greatest Generation” who volunteered for various wartime military postings so men could be freed up for combat duty. Elinor Bachelder was 31 when she volunteered for the SPARs. The SPARs were the women’s corps of the U.S. Coast Guard.

GNAR CARAVAN – 6/16/11

Mapquest:  http://mapq.st/jUW8Rk

51 Tyng Street, Newburyport —  6/3/1.5 —  $355,000
Nancy Purcell, Stone Ridge Properties, 978 502 6441

13 Cortland Ln, W. Newbury – 10/4/2+(2 ½ BA) — $744,000, Main to Coffin toCortland, top of hill
Deb Hamilton, RE/MAX On the River, 978-270-9129

cancelled on tour this week – 1 Colby Lane, W. Newbury — 8/4/3 – $489,900, at Stewart & Colby Ln
Wendy Willis, Keller Williams, 978-270-1872

82 Maple St, W. Newbury, — 11/4/4 – $529,000, Rt 113 and Maple St
Wendy Willis, Keller Williams, 978.270.1872

ADDED TO TOUR:  212 Ash St, West Newbury, Ann Topic, 978-223-0591

22 Albion Lane, W. Newbury — 8/4/ 2.5 – 113 West, Rt onAlbion, around corner on left
Jefferson W. Davis, CBRB, 978-372-8577

14 Birchmeadow Rd, Merrimac – 6/3/1.5 – $359,900, Off Rt 110
Stephanie Hans, Keller William Realty, 508-735-6343

7 Hillside Ave, Merrimac —  6/3/2.5 – $339,900, Rte. 110 to Attitash toHillside
Steve St. Arnault, Stone Ridge Properties, for Denis Merchant978-273-6006

9 Lakeside Terrace, Amesbury — 6/3/3 — $352,000, 110 to Old County Road to Amesbury Ave, bear left then quick right right onto Lakeside Terrace, Gray house on the right.
Craig Holt, RE/MAX On the River, 508-633-6366

CANCELLED FROM TOUR – 417 Main Street, Amesbury — 9/4/2.5 – $1,175,000, near Rocky Hill Road Cynthia Wootan-Johnson, RE/MAX on the River, 978-852-8590

OPEN HOUSES

Lunch

12:30 – 1:30pm

4 Crum Hill, Amesbury, $839,900— 9/3/2.5
Main St at Point Shore to Crum Hill
Ellen Lewis, RE/MAX on The River, 978-317-3609

Desserts
7 12th St, Salisbury, $459,900– 7/3/2.5

12:30 – 1:30pm

Delectable Desserts from Eat Cake! And Chococoa Baking
Sponsored by Lance Adie, Wells Fargo Home Mortgage
Sonja Shine, Stone Ridge Properties, (978) 463-4322 Ext. 128

FACEBOOK AND TWITTER
Are you on FB and TW?  GNAR is!!!!  Follow us on twitter @greaternbpt or on facebook, like our page at https://www.facebook.com/pages/Greater-Newburyport-Association-of-Realtors/125624944182755

Social Media Strategies Less than 1% of REALTORS Know! Presented by REIC
sponsored by Michael Galatis and Fairway Independent Mortgage
When:  June 21 ~ 12:30 Registration and Lunch, 1-3pm Educational Session
What:  Earn 2 CEUs for Tecnology and RE Brokerage (RE32RC03)
Register today at:  http://on.fb.me/June21Fairway

Federal Proposal Would Toughen Debt Restrictions on Mortgages
Washington Post (6/8/11); Dina ElBoghdady
While a requirement that borrowers make a 20% downpayment to qualify for the cheapest mortgages has captured the public spotlight since the government unveiled its plan for qualified residential mortgages in March, experts who track the housing industry say the proposed debt limits could be just as onerous for borrowers. “The debt limits are far and away the most binding constraint,” said Mark Zandi, chief economist at Moody’s Analytics. “It’s probably the one thing that will knock the largest number of borrowers out of the market by keeping them from getting the most favorable rates.” The proposal restricts a borrower’s total debt — including credit cards, auto loans and student loans — to 36% of gross monthly income. The measure would also limit the mortgage payment itself to no more than 28% of a borrower’s gross monthly income. Nearly three out of every five U.S.borrowers who bought homes last year would not have met the proposed restriction on total debt, according to an analysis by mortgage research firm CoreLogic. A separate federal analysis showed that more than half of buyers whose loans were sold to Fannie Mae and Freddie Mac in 2009 would have fallen short of one or both of the two debt requirements.   To read the entire Washington Post article click: http://wapo.st/lpzL10
Thanks to Lance Adie, Wells Fargo for this Washington Post article 


FROM MAR — Mass. REALTOR Market Index down in May as Price Index up slightly
Posted: 14 Jun 2011 11:42 AM PDT
Today we issued the results of the May 2011 REALTOR(R) Market Index (RMI) and the REALTOR(R) Price Index (RPI). The May RMI was down 7.5 percent from the April RMI and down from the same time last year.  The REALTOR(R) Price Index was down from April, but up slightly from May 2010.

This month’s “Hot Topic” question asked REALTOR(R) members about the direction they thought interest rates were headed in the next 12 months.   Click here to read the full release: May 2011 Realtor(R) Market Index and Realtor(R) Price Index

Here are the highlights:
* REALTOR® Market Index was 28.00. Down 7.5% from April
* REALTOR® Market Index was down 29.1% from same time last year
* REALTOR® Price Index was 38.89.  Down 20% from April
* REALTOR® Price Index was up 1.3% from same time last year

Let us know what you think? In fact, if you are a member of the Massachusetts Association of REALTORS(R) and would like to participate in the monthly survey, please send your name, email address and NRDS# (which can be found on the cover of your copy of Bay State REALTOR(R) Magazine) to themarreport@marealtor.com

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