Blog :: 04-2011

Celebrate May Day in Ipswich - for FREE! This Weekend!

Crane Estate Spring Open House this weekend!  Both Crane Beach and Castle Hill on the Crane Estate will be open and included in the day's festivities. The schedule of events includes lawn games, a may pole dance, tours, a nature walk, and a family treasure hunt. Castle Hill's Great House will be open for self-guided tours and refreshments. Visitors are welcome to bring a picnic and spend the day. Click here for the full schedule of events for this Sunday.

What's Selling is the Cream of the Crop!

Great Wall Street Journal article on the "false buyer's market" being reported in many areas. Read the full story!

Here, locally we see simlar situations. Cream of the crop listings simply don't last! If it's in move-in condition, in a good school system and is priced fair, we are seeing multiple offer situations. (Hint to you potential Sellers out there, if you are even thinking about selling, now is great time to take advantage of the pent-up demand!). Inventory here in Ipswich is extremely low and we have a pool of buyers ready and waiting.

The question I'm asked most, "Is it time to buy?" as reported in another WSJ article shows the contrast between the national outlook versus the local markets, something I've been talking about for about a year now. Read the full story.

Sign up for a MY WINDHILL account at WindhillRealty.com and search all mls listings like the pros! Award winning website with great mapping feature! Click here to check it out!

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Buzz About the Ipswich Wind Turbine!

Thanks Ipswich Utilities Department! The photo gallery and videos of the wind turbine delivery you posted on your website are awesome! I only wish I had been there in person so see those huge blades rolling through town, down Route 1A. If you're like me and you missed seeing the deliveries, click here to learn about delivery times, watch the videos and see the really cool images. Don't miss the photo gallery at the bottom

We (the general public) will be invited soon, when the work is done, to the turbine work site. Until then, the site is off-limits.

An Answer to Everyone's Questions!

People keep asking me...

"Is now really a good time to buy a house?" Click here for answer.

"Is my ability to write off my mortgage interest really on the line?" Click here for answer.

"Are interest rates really going to go up?" Click here for answer.

Click here to read the April edition of the Windhill Wire, our Newsletter - Keeping your finger on the pulse of your local real estate beat.

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Ipswich Real Estate-What Sold in March 2011?

Address #BR #BA List $ Sale $
Single Family        
10 Charlotte Rd Ipswich, MA 3 2 $289,900 $294,000
37 Brownville Ave Ipswich, MA 3 2 $314,000 $300,000
10 Birch Ln Ipswich, MA 3 1.5 $324,900 $314,000
7 First St Ipswich, MA 3 1.5 $344,000 $337,000
155 Topsfield Rd Ipswich, MA 5 2 $375,000 $360,000
29 Newmarch St Ipswich, MA 4 1.5 $469,000 $440,000
40 Farley Ave Ipswich, MA 4 2 $469,900 $455,000
5 Long Ridge Ln Ipswich Cty Club 2 2+2 $505,000 $475,000
9 Jeffreys Neck Rd Ipswich, MA 4 4.5 $650,000 $635,000
Condo        
16 Appleton Pk E6 Ipswich, MA 2 1 $94,900 $94,000
200 Colonial Dr #206 Ipswich, MA 2 1 $167,400 $162,000
200 Colonial Dr #205 Ipswich, MA 2 1 $169,500 $163,250
MultiFamily        
31-33 Washington St Ipswich, MA 2 Unit $349,900 $330,000

 

This representation is based in whole or in part on data supplied by our MLS partners. These entities neither guarantee nor are responsible for data accuracy. Data maintained by MLS may not reflect all real estate activity in the market.

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Legal Insider - How Will the Fannie Mae/Freddie Mac Bailout Effect You?

 

Atty. Rich Kallman

 

As the billions of dollars that taxpayers paid to bail out private companies such as AIG, General Motors, Chrysler, Bank of America and Citigroup after the 2008 sub-prime mortgage/stock market crisis are repaid, there is another, even larger public bailout that doesn't get nearly the publicity it merits.  It is the bailout of Fannie Mae and Freddie Mac that is ongoing and will only get more expensive.  To date, the two private companies have cost American taxpayers over $150 billion and the estimate is that the figure will double to $300 billion. OUCH!

The United States Treasury Department has been studying reforms to Fannie Mae and Freddie Mac since the height of the sub-prime mortgage crisis. Read NPR's series on the subject.  The Treasury's proposals were released just a few weeks ago and Congress is expected to act on them in the next few months.  The most aggressive reform would phase out Fannie Mae and Freddie Mac entirely over five years.  Without these mortgage giants to buy mortgage loans, the housing industry would have to rely exclusively on private lenders to finance the $12 trillion mortgage market. Mortgage rates, particularly for fixed rate loans, would certainly increase without the stabilizing effect of Fannie Mae and Freddie Mac, which currently own or guarantee more than 50% of all mortgages in the United States.  Lesser reforms have also been proposed that will increase the cost of borrowing.  Additional borrower fees or taxpayer-financed insurance are distinct possibilities to protect against a future financial crisis like the sub-prime meltdown that occurred in 2008.  These extra fees are expected to result in interest rate increases for home mortgage loans.

Most Washington insiders believe politicians don't have the stomach to take on true reform of Fannie Mae and Freddie Mac, since they were among the largest monetary contributors to federal lawmakers and one of the best organized lobbying forces in Washington.  As the housing market slowly recovers, the firms' strengths will be restored as will their political clout.

The key for potential homeowners is whether Congress enacts the more modest reforms or legislates the entire phase-out of Fannie Mae and Freddie Mac, housing analysts agree that the period of historic low 30-year fixed rate mortgages is drawing to a rapid close.  These pending reforms, along with a real estate market that has reached bottom, signify that this spring, more than ever, is the time for first-time homebuyers to jump into the market or for existing homeowners to trade up to their dream house.

Attorney Kallman presents a compelling answer to the question I'm hearing most often these days,  "Is now a good time to buy?"  You decide.

Legal Insider Content Contributed by Attorney Richard M. Kallman. Contact Atty. Kallman at 978-356-2934 or rich@kallmanlaw.com.

March Real Estate-What Sold in Wenham, MA?

Address #BR #BA List $ Sale $
Single Family        
15 Fiske Rd Wenham, MA 2 2 $270,000 $310,000
144 Larch Row Wenham, MA 5 4.5 $995,000 $937,500
         
Condo        
10 Wallis Dr Wenham, MA 3 2.5 $675,000 $645,000

 

This representation is based in whole or in part on data supplied by our MLS partners. These entities neither guarantee nor are responsible for data accuracy. Data maintained by MLS may not reflect all real estate activity in the market.

March Real Estate-What Sold in Danvers, MA?

Address #BR #BA List $ Sale $
         
Single Family        
32 Liberty St Danvers, MA 2 1.5 $149,000 $145,000
51N Putnam St Danvers, MA 2 1.5 $174,975 $180,000
14 Putnam Ln Danvers, MA 3 1.5 $229,900 $235,000
344 Andovers St Danvers, MA 3 1.5 $249,900 $251,000
59 Hobart St Danvers, MA 3 3.5 $269,000 $255,000
3 Linewood Rd Danvers, MA 3 2 $294,900 $280,000
10 Autumn St Danvers, MA 2 2 $339,900 $335,000
14 Tibbetts Ave Danvers, MA 4 1 $385,000 $330,000
29 Princeton St Danvers, MA 3 2 $389,000 $368,000
4 Old Stonewall Ave Danvers, MA 7 3 $584,000 $575,000
         
Condo        
38 Bayview Terr #12 Danvers, MA 2 1 $119,900 $114,900
72 Village Post Rd Danvers, MA 3 2.5 $329,900 $308,000
138 Holten St #1 Danvers, MA 3 1.5 $349,900 $335,000
138 Holten St #2 Danvers, MA 2 1.5 $409,900 $385,100
         
Land        
16 Toomey St Danvers, MA 16,508 sq. ft. $199,000 180,000
         
Commercial/Industrial        
250 Newbury St Danvers, MA 5,200 sq. ft. $995,000 900000

 

This representation is based in whole or in part on data supplied by our MLS partners. These entities neither guarantee nor are responsible for data accuracy. Data maintained by MLS may not reflect all real estate activity in the market.

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March Real Estate - What Sold in Hamilton, MA

Address #BR #BA List $ Sale $
Single Family        
258 Moulton St Hamilton, MA 3 1.5 $214,900 $215,000
122 Gregory Island Rd Hamilton, MA 3 1 $279,000 $250,000
376 Essex St Hamilton, MA 3 2.5 $359,000 $390,000
7 Hatfield Rd Hamilton, MA 5 3 $375,000 $305,000
58 School St Hamilton, MA 3 2 $425,000 $424,500
530 Bridge St Hamilton, MA 3 2.5 $499,000 $470,000
10 Villa Rd Hamilton, MA 4 4 $1,300,000 $1,130,000
2 Autumn Ln Hamilton, MA 4 3.5 $1,499,000 $1,250,000

 

This representation is based in whole or in part on data supplied by our MLS partners. These entities neither guarantee nor are responsible for data accuracy. Data maintained by MLS may not reflect all real estate activity in the market.

March Real Estate - What Sold in Rowley, MA?

Address #BR #BA List $ Sale $
Single Family        
448 Wethersfield St Rowley, MA 3 2.5 $439,800 $432,500
667 Main St Rowley, MA 3 2.5 $489,900 $472,000
155 Daniels Rd Rowley, MA 3 2.5 $549,900 $526,000
Condominium        
20 Lawrence Rd #14 Rowley, MA 2 1.5 $104,000 $99,000

 

This representation is based in whole or in part on data supplied by our MLS partners. These entities neither guarantee nor are responsible for data accuracy. Data maintained by MLS may not reflect all real estate activity in the market.

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