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MORTGAGE
RATES fell to the lowest level in decades for the ninth time in 10
weeks, as concerns grow that the economy is weakening.
The average rate for a 30-year fixed mortgage dropped to 4.36% this
week from 4.42% last week, mortgage finance giant Freddie Mac said
yesterday. That's the lowest since 1971, when the company began tracking
rates.
The average rate on 15-year fixed loans dropped to 3.86% from 3.90% the previous week, the lowest on records starting in 1991.
Rates have fallen since spring as investors gobbled up Treasury
bonds, lowering their yield. Mortgage rates tend to track those yields.
The low rates have prompted thousands of borrowers to refinance their
home loans. Refinancing is at its highest level since May 2009 and made
up 82.4% of all new loan activity.
Many New Yorkers could benefit financially from refinancing - how can
they figure out if they qualify and how the numbers will sort out for
them?
Read the Your Money section in Monday's Daily News for details,
issues to consider and helpful tips on how to get started in refinancing
your home loan.
Staff and Wire Reports- NYDailyNews.com
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Harwich, Town of Harwich
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We invite everyone to visit our open house at 23 Long Pond on
September 4
from 11:00 AM to 2:00 PM.
Property information
Captivating! Long Pond area ranch style bungalow. Walk to Long Pond for swimming, boating, bike trail & Pleasant Lake General Store. This newly renovated home is OZZING with Cape Cod charm! Built in bunk beds, vaulted ceilings and skylight in large beamed family room, new natural gas forced hot water heating system and hot water tank, newly insulated walls in both bedrooms, new custom old world pine flooring, new Anderson sliders in family room and master bedroom, Hunter Douglas window treatments and beautiful furnishings are included! Large .56 acre lot with new 4 bedroom Title V Septic makes expansion possible. Professionally landscaped yard is pristine yet natural. This is your perfect Cape getaway or year round home, everything has been done..all this needs is YOU!
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By Jon Chesto
BOSTON —
Home prices in Massachusetts continued to rise moderately last month despite a sharp drop-off in sales hurt by the expiration of federal tax credits.
The Massachusetts Association of Realtors reported that the median price of a single-family home in the state rose to $333,000 last month, up 7.4 percent from July 2009. A separate report from The Warren Group, which uses some additional transactions for its calculations, shows the median home price rising by 3.3 percent to $315,000 last month.
Home appreciation continued despite a severe plunge in home closings last month. Both The Warren Group and the Realtors reported that statewide sales fell by more than 25 percent last month compared with the same time a year ago. This marked the first time in 2010 that home sales dropped from the same month in 2009.
The drop was widely anticipated by real estate brokers, who had seen a slowdown in purchase-and-sale agreements following the April 30 deadline to participate in generous federal tax credits for most first-time buyers and certain other buyers. It typically takes up to two months for a home sale to close after a purchase-and-sale agreement is signed.
Walter Hall, chairman of HouseSavvy in Norwell, said the expiration of the tax credits for first-time buyers is actually one of the drivers behind the rise in home prices last month. That’s because a greater portion of home sales were in the higher price ranges once first-time home buyers were no longer eligible for the $8,000 tax credit.
“First-time home buyers, by their very nature, are going to buy less expensive homes (so) the sales prices were weighted toward the lower end of the spectrum,” Hall said. “The minute the (credit) evaporated, sales went down, but the sales that did take place were not as weighted as they had been to the lower price range.”
Single-family home prices this year have been stronger in communities that are closer to Boston. For example, The Warren Group reported that the median sale price in Norfolk County rose 13.6 percent to $426,000 last month from July 2009, and it is up 8.6 percent for the first seven months of the year compared to the same time last year.
Meanwhile, the median price in Plymouth County rose 0.7 percent last month to $299,000 and has been essentially flat from January through July compared with last year.
George Jamieson of Capital Residential Real Estate in Hingham said he doesn’t expect prices to rise in the area for the rest of the year, partly because the number of unsold homes on the market is expanding again.
“The inventory levels are still fairly high,” he said. “I would anticipate seeing flat sales prices going forward. ... Now we’re going to see what the real home market is without any sort of (federally-funded) incentives out there for buyers.”
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Must be seen!!
• 1,900 sq. ft., 2 bath, 3 bdrm single story "Contemporary Cape Style Ranch" - 
MLS® $549,000 - Reduced!
Chatham, Town of Chatham - Frank Bicchieri presents an immaculate 3 bedroom, 2 bath home. Exceptional landscaping throughout. Private setting. Heated pool in back is perfect for family and friends-- cookouts or just relaxing in the sun. New granite counter tops in kitchen. Pristine hardwood floors. All patio , pool, and interior furnishing are included. Just bring some weekend clothes. Must be seen!!!!!!!
To view this home call Frank directly at 508-735-5172
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Harwich Port, Town of Harwich - Carol Thayer announces a price reduction on 18 Saquatucket Point, a 3,625 sq. ft., 4 bath, 6 bedroom water front home.. Now MLS® $2,800,000 - Reduced! Call Carol for a private viewing directly at 508-246-2335.
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Harwich, Town of Harwich - Nancy & John announce 23 Long Pond, a 734 sq. ft., 1 bath, 2 bdrm ranch for sale. Wow only $259,900! For a private viewing call John direct at 508-246-2911
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West Brewster, Town of Brewster - Debra Bassett Announcing a price reduction on 253 Stony Brook Road, a 3,352 sq. ft., 5 bath, 5 bdrm 2 story. Now MLS® $1,000,000 !- To view this fabulous home call Deb directly 508-246-1302
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West Harwich, Town of Harwich
Cape Cod Charmer just steps to sandy Earle Rd. Beach! Sweet and clean 3 BR, 1 BA with bright, newly updated kitchen, cathedral ceilings, bright open living room, bamboo floors and other hardwood throughout, renovated full bath new windows & roof. Smell the ocean from the lovely private yard abutting town owned land just 2/10ths mile to beach. $2,000. weekly summer rental. A real gem!
Property information
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• 1,144 sq. ft., 2 bath, 3 bdrm ranch
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MLS®
$270,000
- Price below assessment
Town of Harwich, Barnstable County
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Debra Bassett invites everyone to check out this fantastic opportunity with this first-ever offering! Priced below assessment, this 3BR, 2BA ranch features garage, fireplace, partially finished lower level and a peaceful (surprisingly private) backyard. Only 6/10th to the public beach on Long Pond and a short stroll to the bike path and General Store! Please call Deb at 508-246-1302 for a private viewing.
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Beautifully maintained ranch.
• 1,328 sq. ft., 1 bath, 3 bdrm single story
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MLS®
$395,000
South Chatham, Town of Chatham
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Deidre Hedmark is proud to present 55 Lantern Lane in South Chatham. Beautifully maintained ranch in serene setting and just over a half mile walk to Cockle Cove Beach. Living room with sparkling wood floors and fireplace, fabulous cathedral ceiling room addition, eat in kitchen with new appliances and three bedrooms with wood floors. Beautiful brick walkways and patio offering great family gathering space. Close to town landing on Taylors Pond too! Call Deidre at 508-776-9456 for a private viewing.
Property information
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• 1,145 sq. ft., 1 bath single story
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$1,500 USD
Monthly
Harwich Port, Town of Harwich
- 466 Main Street (Rte 28) Harwich Port.
Fantastic office space available in Harwich Port! Currently it is the location of Lower Cape Podiatry. Nicely laid out with reception/waiting area and private offices. Ideal for many types of businesses. Also included is the full basement. Available October 1. Owner may consider a lease/purchase or a purchase situation.
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• 1 bath, 1 bdrm single story
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$995 USD
Monthly
South Yarmouth, Town of Yarmouth
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Fabulous 1 bedroom home in convenient South Yarmouth location. Free standing cottage attached by breezeway. Remodeled inside with new flooring, paint, kitchen, bath and more.
Very clean and ready to go! $995.00 per month plus utilities. May consider a small pet. Available immediately. Call or email Mike 508-737-3574 or Mike@CapeCodAre.com
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Dennis Port, Town of Dennis
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Announcing a price reduction
on 3 Mill St. #5, a commercial. Now
MLS®
$69,000
- .
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Barnstable County, Massachusetts
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Announcing a price reduction
on 36 Mill Rd, a 1,355 sq. ft., 2 bath, 3 bdrm 2 story "Cape/Antique". Now
MLS®
$825,000
- .
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• 1,140 sq. ft., 2 bath, 2 bdrm ranch
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MLS®
$289,500
South Yarmouth, Town of Yarmouth
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Jack Conway is proud to present 96 Beacon St. South Yarmouth. Excellent 2 Bedroom ranch at the end of Beacon Street with lots of privacy. The dwelling has an oversized garage with direct entry into the home and cellar. The roof is one week old and many updates have been done throughout the house. The patio leads to an oversized backyard. Great area! Call Jack for details 508-776-7416.
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