Over the past few weeks, I have been monitoring the debate concerning the debt ceiling in our country. Particularly, I was trying to find out what impact, if any, that it had on mortgage rates. I even set a google alert for it. I am no student of economics, but I am trying to get an understanding of how this debt ceiling thing works because it appears that our country spends so much money and really does not care if we ever pay anything back. I saw a report today, written by Diana Olick, from CNBC, Entitled: “The Debt Crisis and Mortgage Rates”, where it discusses the impact of not raising the ceiling on mortgage rates. First, the article gets a position from some people who apparently know a lot about this stuff. First, Glenn Kelman, CEO of Redfin, takes the position that ” We see peop... 05/17/2011

Finally, the government has spoke regarding the definition of what a “safe” loan is and how the loans can be securitize and sold to different investors. According to the report by Reuters, U.S. lenders would have to offer mortgages with at least twenty percent down if the lender intends to sell the loan to other investors, while maintaining no risk on their books. Interestingly enough, the major critics on the “safe” loan definition were the smalll banks and regional lenders, claiming that the twenty percent down payments was too high. They continued to suggest that such large down payments would slow down the already struggling housing market. Moreover, the report states that mortgages sold to Fannie and Freddie would escape the risk retention requirement.  03/29/2011

I was reading a report written by CNNMoney and they make a claim that 13% of all homes in the United States are vacant. The report calls into question the procedure that they use (census report) to calculate what is considered to be a vacant home. Interestingly enough, a summer home, a vacation ski condo are all consider vacant. If you don’t live their, then it is consider to be vacant. So, I ask myself, why don’t they come up with a more efficient way to analyze the housing? The report is misleading and it does not give accurate information concerning the vacancy rate of homes in this country. In my opinion, the report says to me that these numbers are incorrect but we are going to give them to you anyway, with brief commentary on how we got our information. 03/28/2011

A Tewksbury MA home buyer should receive a brochure, Home Inspectors Facts for Consumers Sheet, at the time of the signing of the first written contract to purchase. A standard home inspection in Massachusetts is a visual examination of the physical structure and major interior systems of a residential building consisting of one to four dwelling units. It should be understood that there are certain risks inherent in the purchase of property and a home inspection is inherently limited in its scope and depth. The information gained from home inspection conforming to the Massachusetts Home Inspector Standards of Practice may reduce some of those risks, but the home inspection is not intended to provide the client with protection from all of the risks involved. Visit the Tewksbury MA Home I... 03/16/2011

Tewksbury Real Estate - Week Of March 6, 2011 Here is a snapshot of real estate market for single family homes in Tewksbury, MA (Source: MLSPIN)   For Week of 6th March, 2011 Number of Homes On Market 71 Median Price $329,900 Average List Price $366,750 Average Days on Market 131 Newly Listed 10 Price Changes 0   03/13/2011

TEWKSBURY REAL ESTATE - FOR THE MONTH OF February 2011 Here is what is happenning in Real Estate Market of TEWKSBURY for the month of February 2011. Please note that this statistics is for SINGLE FAMILY HOMES only. (SOURCE: MLSPIN)   February 2010 February 2011 Trends Number of Homes Sold 11 6 Median Sale Price $349,900 $290,000 Averge Sale Price $349,509 $322,500 Days on Market 227 204 Sale Price to List Price Ratio 96% 96% Total Volume $3,844,600 $1,935,000 This table compares the real estate market in TEWKSBURY, MA for the month of February last year and this year. Feel free to reach me should you have any question about this. See you next month - with another report to on how TEWKSBURY, MA Real Estate market is doing. 03/06/2011

Tewksbury Real Estate - Week Of February 20, 2011 Here is a snapshot of real estate market for single family homes in Tewksbury, MA (Source: MLSPIN) For Week of 20th February, 2011 Number of Homes On Market 65 Median Price $389,900 Average List Price $456,263 Average Days on Market 139 Newly Listed 5 Price Changes 0 02/26/2011

This video explains the governments' position regarding electronic notaries in the Commonwealth of Massachusetts. It is my position, pursuant to the electronic signature law in the Commonwealth, you need to have an electronic notarization in order to comply with the electronic signature act. We have tried to get an understanding of the logic applied to their decision regarding its supposed illegality but the government has not respond to this request. Any commentary would be most appreciated. 02/22/2011

Tomorrow should be an interesting morning since the MBA is releasing their mortgage application information. Hopefully, mortgage appplications will be on the rise. Stay tune for more details.  02/21/2011

02/18/2011

Please participate in our poll on Linkedin.   http://linkd.in/dRr2JF 01/19/2011

Down below are figures from Massachusetts Mortgage Association. I thought that the numbers are interesting, to say the least  As 2010 comes to a close and the New Year is upon us, we wanted to share with our members some interesting information relative to what we accomplished in 2010 and where we now stand.  Most importantly, what we as an industry are facing in the year ahead. Entity                                                                    2009                     2010 Mortgage Broker Companies                           435                          300 Mortgage Broker Branches                               221                          162 Mortgage Lender/Broker Companies              146                          140 Mortgage Lender/Broker Branches                  272       ... 01/19/2011

01/17/2011

Here's Tewksbury's stats for week ending 12/25/2010 - Single family Homes (Data Source: MLSPIN) # of homes sold - 5 Average Sale Price: $312,000 sold at 95% of original asking price Median Price: $325,000 # of Days on market: 37 Total Volume: $1.56M Very good for this time of the year! 12/25/2010

New Video describing changes to the Massachusetts Homestead Act 11/23/2010

  This is the activity report for Tewksbury, MA for the week of November 15th, 2010. (Data Source: MLSPIN) New listing : 9 (average sale price: $370,319) Price Changes: 10 (average price change: -2.12%) Pending and Under Agreement: 3 (average price: $372,967) Sold: 12 (average sale price: $247,640, sold at 91% of original asking price) Expired Listings: 2   11/21/2010

According to Banker & Tradesman, Foreclosure deeds decreased in October, 2010. For the full report, see Banker and Tradesman.  11/18/2010

Just started a poll on paperless mortgage technology. Please participate. see poll 11/16/2010

This is the activity report for Tewksbury , MA for the week of November 8th, 2010. (Data Source: MLSPIN) New listing : 5 (average list price: $337,920) Price Changes: 15 (average price change: -2.46%)  Pending and Under Agreement: 4 (average list price: $293,700) Sold: 3 (average sale price: $296,167, sold at 94% of original asking price) Expired Listings: 0! 11/14/2010

New England Title is offering a fifty percent discount on closing cost to any New England Title fan. Please see    http://www.facebook.com/pages/Tewksbury-MA/New-England-Title/165233565361     Thanks      Hugh Fitzpatrick   11/10/2010