This week has really caused a little bit of an up rising in real estate market with rates increasing and buyer's scrambling to lock in their rates for their purchase. Do you think this will effect home prices going forward if rates continue to push higher ?
Mortgage News Daily Reports - Mortgage rates
are reprising past trauma, now matching the scope of the late 2010
sell-off, with the past two days matching the scope of Black Wednesday's
sell-off. "Selling" in this case, refers to the
Mortgage-Backed-Securities (MBS) that most directly affect rates. As
MBS prices fall, rates rise. The faster this happens, the worse it is
for rate sheets, and despite the month and a half of selling, the past
two days have been surprisingly abrupt for lenders. Rate sheets have
taken the most profound hits we've seen on back to back days (past
examples were more concentrated on one of the two days). Conventional
30yr Fixed best-execution is quickly up to a staggering 4.375%-4.5%, though we'd note that there's even more variation between lenders as volatility magnifies the effects of different pricing strategies.
Today's economic data had precious little effect on trading levels,
adding to the sense that it's going to take official employment data on
July 5th, a change in tone from the Fed, or an unexpected tape-bomb
style headline to convince markets that the Fed won't begin curtailing
asset purchases in September. While that continues to be the case,
interest rate movements continue to be a risk. We'd like to say "we've
moved high enough, fast enough that we'll probably be able to dig in and
hold some ground here," but that's not safe yet. Market participants
themselves, let alone mortgage lenders, are still feeling out the
post-Fed-Announcement environment. There's no reason rates can't go
even higher just because they've moved so high, so fast.
Fantastic townhouse condo built in 2002
Announcing a price reduction
on B-45 Clyde Street, a 1,463 sq. ft., 3 bath, 5 bdrm 2 story.. This property has it all from bedrooms, parking to central air conditioning. Open house Sunday June 23rd from 12:30 - 2:30 .
- SOLD for $415,000 over asking price. This over sized one bedroom condo has gone to a new owner. If you were interested in this property or if you have one to sell like it please feel free to give John Dean a call to discuss the current real estate market in Cambridge.
Ball Square, Somerville
We invite everyone to visit our open house at B-45 Clyde Street on
from 12:00 PM to 1:30 PM.
New Price on this fantastic townhouse style condo with everything. 5 Bedrooms, 3.5 bathrooms, central air, parking, and an exclusive use yard . Perfect for living in or for an investor. This is a must see property in a great location.
So Monday the 27th is Memorial Day, a day of remembrance for our armed forces and those that have given their lives in defense of America and our way of life. You will see communities around the country paying respect through local parades and adding American flags to gravestones dating all the way back to the Civil War. It should be a weekend of remembrance and reverence to our armed forces.
Every year I spend time in a random cemetery to pay my respects and reflect on the sacrifice these men and women have given to our great country. Their headstones decorated with bright new American flags to identify our fallen heroes among the field of stones some dating all the way back to the Civil War. It is amazing to see how many people drive by and never pay mind to the day's significance.
Many will just think it is another day off or an excuse for a picnic but I urge you to take a true look at the meaning of the day and reflect on the freedoms you enjoy thanks to these outstanding people.
Thank a Vet and maybe even think about supporting our local vets who need our help.
Cambridge Memorial Day
Somerville Memorial Day Parade
• 1,465 sq. ft., 3 bath, 5 bdrm 2 story
- New Price
Ball Square, Somerville
With a " 78 -Very Walkable" score with WalkScore this townhouse puts you close proximity of public transportation, Red Line, shops and more. The condo was built in 2002 and offers 5 generous bedrooms, bathrooms on every floor and a nice main level for entertaining. The additional "bonus rec" room is perfect for storage but it also has potential due to a full bathroom on this level. Plenty of green space with an exclusive use fenced yard and deck. This place has everything even off street parking!
48 Crescent Street
This sun filled top floor condo is located in the Agassiz
area of Cambridge between Harvard & Porter Squares. This tree lined neighborhood boasts a score
of 91 a “Walker’s Paradise” from Walkscore.com with easy access to Leslie &
Harvard University, public
transportation, coffee shops, places to eat and much much more.
This over-sized one bedroom condo is part of a 3 unit association
with 100% owner occupancy. The
condo has gleaming hardwood floors and a fantastic floor plan consisting of a
generously sized bedroom, a formal dining area; eat in kitchen and a bonus
office space. The private deck off the
kitchen offers glorious views of the landscaped common yard.
In addition to the layout the home has had many updates over
the last 2 years. The bathroom has been
full renovated to include a river stone floor, rain shower and ultra high end
fixtures. The windows have been
replaced with Harvey windows, and the kitchen has been updated.
This unit is truly a must see. Oh and by the way it is Pet Friendly
Open Houses are scheduled for this weekend on Saturday & Sunday ( March 2nd & 3rd) 1:30 - 3:00 pm .
The Cambridge area is being hit by
one of the largest storms since 1978 and Mother Nature is dumping inches and
inches of precipitation. According to the local weather channels we have not
seen the worst part of the snow and we will have a significant amount by
morning so I thought I would leave you with a few tips from the National Safety
Dress warmly to prevent exposure and
possibly frostbite. Paying close attention to feet, hands, nose and ears
Avoid shoveling snow if you are out
of shape. If you have a history of heart trouble, do not shovel snow unless
your doctor says it's okay
Do light warm-up exercises and
stretches before shoveling and take frequent breaks
If possible, push snow in front of
you. If you have to lift it, pick up small amounts and lift with your legs, not
your back. Do not toss snow over your shoulder or to the side.
Use rock salt or de-icing compounds
to remove ice from steps, walkways and sidewalks. Sand placed on walkways may
also help prevent slipping
If there is too much snow call
friends, family members or even your local snow removal company to help dig you
Our Friends at J Murray and Sons
Signs For A Potential Roof Collapse
Prior to a roof collapse,
buildings generally exhibit signs that the roof is in distress and action
should be taken to mitigate a roof collapse. The following are some of the
symptoms that have been reported prior to roof failure:
- Sagging roof steel - visually deformed
- Severe roof leaks
- Cracked or split wood members
- Bends or ripples in metal supports
- Cracks in walls or masonry
- Cracks in welds of steel construction
- Sheared off screws from steel frames
- Sprinkler heads pushed down below ceiling tiles
- Water in ponds where it never has before
- Doors that pop open
- Doors or windows that are difficult to open
- Bowed utility pipes or conduit attached at ceiling
- Creaking, cracking or popping sounds
To Remove Snow From Your Roof Safely
- Be on the alert for large accumulating snow build-up
or snowdrifts on your roofs.
- If roof snow can be removed with the use of a snow
rake (available at most hardware stores), do so.
- Use caution, as metal snow rakes conduct electricity
if they come into contact with a power line.
- Try to avoid working from ladders, as ladder rungs
tend to ice up. Snow and ice collect on boot soles, and metal ladders.
- Flat roofs can be shoveled clear, but only if it is
determined that the roof is safe to stand upon. Exercise care when on
the roof to avoid potentially dangerous falls.
- Flat roof drainage systems should be kept clear to
minimize the risk of excess roof ponding in the event of subsequent
heavy rainfall or melting.
- Large icicles can form on roof overhangs, but do not
necessarily mean ice damming is occurring. Icicles overhanging doorways
and walkways can be dangerous and should be carefully removed
West Medford -
This wonderful single family home came on the market right before the holidays and we received an offer at the first open house. I am happy to announce this home came on the market for $549,000 and sold for $21,0000 over the asking price at $570,000.
2013 has started off with a mild winter which means it is extremely likely the Spring Market will start sooner than later if Mother Nature continues to cooperate. If you would like a quarterly real estate report please contact me and I will make sure to get one out to you ASAP. If you are looking for the value of your home I am happy to set up a one on one appointment to provide you with the most customized complimentary report (CMA) on your home. I am happy to meet and provide this service even if you are just curious about your home's value. If you are thinking of bringing your home onto the market,I will work with you to create a plan to maximize your home's value.
It seems Hurricane Sandy is on the way up to the Northeast and while it has been downgraded to a tropical storm it seems she will still pack a punch. Coldwell Banker in Cambridge has closed both offices for Monday as the Govenor Devaul has declared a state of emergency. Please stay safe during the storm and I found a helpful website to help with preparation and tips to read before the storm hits.
West Medford, Medford
We invite everyone to visit our open house at 22 Jackson Road on
October 27 & 28
from 1:00 PM to 2:30 PM.
Ready To Move In !
• 2 bath, 3 bdrm colonial
- Just Listed in West Medford
West Medford, Medford
Nestled on a tree lined street in the heart of West Medford just a short walk from the mystic lakes and the commuter rail, this 3 bedroom 2.5 bath home is in move in condition. Recent improvements include a new roof, central air, a finished basement with full bath, new heat/hot water system, sprinkler system, and updated electrical and second floor bathroom
It is the second annual “Trick-or-Treat Bag Give
Away”. John Dean, a Realtor ® at Coldwell Banker Residential Brokerage
office at 171 Huron Ave. in Cambridge, invites parents to pick up free
trick-or-treat bags. The environmentally friendly reusable bags are full of
information on Halloween safety tips and other goodies to help keep kids safe
this Halloween. John will be providing the trick-or-treat bags which can be
picked at the Coldwell Banker Office on Huron Avenue up starting Thursday,
October 18th. The bags will be distributed until they run out. The
office is open Monday - Friday 9 am-6pm and 9am - 5pm on weekends.
“Halloween is just around the corner and the streets of
Cambridge will be full of children searching for the homes with the best
goodies. Keeping this in mind, there are steps parents can take to
keep their children safe,” said Dean, a sales associate in the Coldwell Banker
Residential Brokerage Cambridge office.
Active in the community, John donates a portion of his
real estate commissions to the Cambridge Camping Association, Salvation Army’s
Our Place, The Wounded Warrior Project and Coldwell Banker Residential
Brokerage Cares, the charitable arm of Coldwell Banker Residential Brokerage
Dean has defined his business with an age old
question, "How can I help you?" He is
committed to customer service with an open-door policy for
communication. John works with both seller's and buyers to
guide them through the entire real estate process. He is also
happy to just answer a simple question that you may have regarding all areas of
Coldwell Banker Residential Brokerage is the largest
residential real estate brokerage company in New England. With more than 4,000
sales associates and staff in approximately 90 office locations, the organization
serves consumers in Massachusetts, Rhode Island, New Hampshire and Maine.
Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest
residential real estate brokerage company. For more information,
please visit www.NewEnglandMoves.com.
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With Garage Parking!
• 1 bath, 2 bdrm single story
- New Rental Listing
Kendall Square, Cambridge
A " Walker's Paradisw" according to WalkScore.com with a score of 97. This fantastic condo hasall the perks without the big Cambridge price tag. This 2 bedroom, 1.5 bathroom condo has everything from in unit washer & dryer, garage parking as well as additional storage and even a bike room. The condo is located near Kendal Square and MIT as well as a short walk over to the Green Line at Lechmere.
On August 27th, 2012, Homeland Security started to release bacteria into T stops on the Red Line in Somerville and Cambridge. These bacteria sensors have been installed in three of the MTBA Red Line stations; Davis Square, Porter Square as well as Harvard Square and are one of the first of their kind in the US. The sensors were designed to test prevent the use of Boston's mass transit as a potential biological conduit for terrorist biological attacks on the city.
If you wish to know more you may want to visit the MTBA website.