Member News ~ March 7

CARAVAN for Thursday, March 8 

44 Purchase St., Newburyport –7/ 3/ 2.5 – $579,000, Bromfield St. and Purchase St., Melinda Fields, CBRB,  978-360-3208

243 Water St, Newburyport—9/3/3—$1,050m, Antique – Merrimac River side of Water Street, Dolores Person, William Raveis DPG, 978-660-0967

272 Water Street, Newburyport—10/3/3.5—$2,450,000
Karen Tutrone, RE/MAX On the River, (978) 471-9425

18 69th St, Newburyport (Plum Island) — 6/2/1.5 — $689,900, Plum Island Turnpike to Northern Boulevard to 69th St., Corner of 69th and Reservation Terrace, Mary Lou Gagnon, 978-270-2512 

39 Harbor St, Newburyport (Plum Island)— 4/2/1—$839,900, Plum Island Blvd turns into Northern Blvd, take left onto 78th St , turn right onto Harbor St.
Dolores Person, William Raveis DPG, 978-660-0967 

28 Summit Place, Newburyport – 10/5/4 (3).5—$1,575,000,  High St or Rolfes Ln in the bend of the Road. Craig Holt, RE/MAX On the River, 508.633.6366

295 High Street, Newburyport— 8/4/1.5— $749,900, cross streets High/Forrester, Sean Perkins, Stone Ridge Properties, 508-846-5412 

10 Boyd Drive, Newburyport—8/4/2.5—$859,900,Cross Street– Ferry Rd
Mary Holmes, Heritage Realty, 978- 808- 6559

15 Lucey Drive (Port Village), Newburyport—8/3/2.5—$659,900,Lucey Drive is located offMoseley Avenue orMerrimac Street headed for the Chain Bridge.
Tom Tormey, RE/MAX On the River, 978-689-5759

53 Warren Street, Unit 116, Newburyport—4/2/2— $269,900, Between Eagle and Monroe, Tom Mahoney, RE/MAX on the River, 978-992-4262

6 Caldwell’s Court, Newburyport—11/4/2.5—$799,900, Merrimac to Caldwell’s Ct (behind the Park Lunch), Pam Hill-Schuster, CBRB,  978-335-4449

One Market St., Newburyport – 9/5/3 — $675,000, Corner of Merrimac St & Market St, downtown, The Cronin Team, RE/MAX On the River, 978-388-0062

Luncheon – 12pm-1:30pm
9 Washington St, Newburyport      click photo for flyer>>

$1,050m – 10/4/3 +2 h bath
Hosted by Dolores Person, William Raveis DPG
catered by Guiseppi’s – Lasagne, Caesar Salad and Italian red wine

Dessert and Coffee – 12pm-1:30pm
65 Middle Street,Newburyport
        click photo for flyer>>
$799,900 – 9/3/3.5
Hosted by Linda Gillard-McCamic, William Raveis DPG              

New FHA Mortgage Insurance
Premium Schedules effective 4/1/12

The new FHA mortgage insurance premium will be increasing effective April 1.  The two-part fee is paid through UFMIP or “Upfront Mortgage Insurance Premium” which will rise from 1.000 percent of the loan to 1.750.  The amount is added to the loan, so interest is paid on it over the life of the loan.

Changes in the FHA’s annual mortgage insurance premiums (MIP) are less extreme, rising 10 basis points.  The new schedule for loans (case number assigned on or after April 1)

  •          30-year loan terms with Loan to Value over 90% : 01.25 percent annual MIP
  •          30-year loan terms with Loan to Value under 90% : 1.20 percent annual MIP
    There is no “jumbo FHA mortgage premium” for loans made prior to April 1, 2012

As detailed by Bob Pezzella, the bottom line is:
On a typical $250,000 purchase price (sound about right?!) the UFMIP will increase from $2,412.50 to $4,221.88 or 1,809.38 and the monthly MIP will rise from $233.51 to $255.70 per month.  As is the case with all price increases, this one could quite possibly be significant enough to cut yet another small wedge out of the shrinking pie of qualifying candidates.  If you have FHA buyers out there who are on the fence, there isn’t a better time to give them a nudge and ultimately save them some money!  You can lock in today’s fees by getting the FHA case numbers assigned before April 1st.  You don’t have to close before April 1st, just get the case numbers in!

Thank you to our affiliate members for the update
Bob Pezzella of Evolve Mortgage (617) 513-8143 and
 Lance Adie, Bank of America (781) 557-1042     


Register Now for April 2 –  Two classes provided by REIC (Real Estate Inner Circle) -valid for MA CEUs for the Division of Licensure courses listed below, to register visit:

RE34C03 – National Economic Trends and the Real Estate Professional 
REIC course name “8 New Trends of Highly Successful  Agents”

RE32RC03 – Technology and Real Estate Brokerage 
REIC course name “2012 Social Media and Online Marketing Trends Less Than 1% of Agents Know”

Thanks for coming to the The 1031 Exchange class taught by Patricia Flowers this past Monday — it was well-received by all.  We had 26 GNAR members in attendance.
Thank you again to Arlene Keating and Patty Flowers for her sponsorship of CEU fees for MA & NH and for Arlene Keating Law Offices for the delicious coffee/breakfast provided for all attendees.


Tomorrow, March 8 – Say No to LHD – Lyndie Lanphear and other members of “Say No to LHD” will speak to GNAR in opposition to the proposed Local Historic District plan.

March 22 – Newburyport Mayor Donna Holaday on current happenings in and around the City of Newburyport.

April 26 – Amesbury Mayor Thatcher Kezer on Amesbury happenings.

REALTOR® Magazine Seeking Nominations for
Annual Good Neighbor Awards

(from NAR -Washington, DC, February 28, 2012)
Realtors® work hard to help people buy and sell homes, while also dedicating their time and efforts to improve the quality of life in communities across the country. The National Association of Realtors® recognizes these Realtors® who devote themselves to volunteer service through REALTOR® Magazine’s Good Neighbor Awards, which is currently accepting applications through May 18.  For more information on the award visit . . .

Explore the World’s Largest Real Estate Library

As an association member and REALTOR®, you have access to over 12,000 ebooks, journals, research reports, and more through the National Association (NAR)’s world-class library. These instructional videos show how to explore the collection, set up your own account, and take advantage of this unique member benefit.
Watch Overview & Account Setup >
Watch Basic and Advanced Searching & Browsing >


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