August 26, 2011
- Inman News reports that the seasonal price bump of spring has cooled off. Nationally, prices are down 7.9% when comparing June 2011 to June 2010, and 1.8% with June 2009. All four regions were down year over year. Now as summer ends, heavy demand shifts and prices will decline to bump along the bottom again. Boston’s price decline in July with 1.7% and inventory rose 4.9%.
- Clark, founder of CopyBlogger notes in Inman News: “Buyers want house listings, sellers want to know what their house is worth. Don’t ever make the mistake of thinking people want to talk to you.”
- According to WCVB, Channel 5,Massachusettsis #4 in the most expensive states to own a home based on the median monthly homeowner cost. New Jersey is #1, California is #2, Hawaii is #3, Connecticut is #5, Maryland is #6, New York is #7, New Hampshire is #8, Rhode Island is #9 and Alaska is #10.
- The Obama Administration’s latest proposal is to turn excess housing inventory into rentals. They’re soliciting investors to buy in bulk at massive discounts Fannie, Freddie and HUD foreclosures and turn them into rentals.
- Inman News reports that HUD has developed a mapping tool, ReoPortal, that displays the location of all foreclosed properties held by Fannie, Freddie and FHA.