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Worcester, MA Real Estate News

By Bryan Flynn, Central Mass and Worcester Mortgages
(Regency Mortgage Corporation)
Bonds had a nice rally yesterday and closed above a key level of resistance.  In order for confirmation of a technical break through the next trading day needs open above that as well......well bonds did not and they have given back 70% of yesterday's gains already.  The headline number of durable goods came in much better than expected.  Estimates called for negative 0.3% and the actual number was up 0.8%, stock market should open well today.  Friday's in the summer tend to be very volatile so expect yet another crazy day in the markets.   __________________________________________________________________________________________________  The above Mortgage Market Update information was provided by Bryan Flynn of Wells Fargo Home Mortgage.  Bryan can be reached at Bryan.K.Flynn@wellsfar...
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By Bryan Flynn, Central Mass and Worcester Mortgages
(Regency Mortgage Corporation)
Mortgage Bonds have traded lowered for 4th straight session today losing just shy of 200 basis points over that period.  To get a rate quoted on Monday a client would now have to pay 2 points on their loan if they did not lock and wanted that , that is scary. No economic news out this morning; movement today should be technically driven, the sellers are losing their steam and the buyers should be coming to market for a reversal in pricing.   Have a great weekend!  __________________________________________________________________________________________________  The above Mortgage Market Update information was provided by Bryan Flynn of Wells Fargo Home Mortgage.  Bryan can be reached at Bryan.K.Flynn@wellsfargo.com or by phone at 508.363.2223.  Bryan has worked in the Central Mass and ...
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By AnnMarie Belair, Sterling Realty Belair, INC
(Real Estate Worcester County MA)
MINT MOVE IN! DONT MISS THIS BEAUTY..NEW EVERYTHING ! Ann Marie Belair - REALTOR® RE/MAX Associates 50 Leominster Rd • Sterling, MA  01564 - - - - - - - - - - - - - - - - - - - - - - - Direct: 978-422-8100 x36 • Phone: 978-678-0136 Cell: 508-523-2676 • Fax: 978-422-7997 Toll Free: 800-496-5551 x36 • Vm/Pager: 978-678-0136 Website: www.annmariebelair.com • Email: annmariebelair@remax.net Back   PrintListing   EmailListing   CompareListing   MortgageCalculator   TownInfo   MapListing  
DistanceSearch
  Property Listing   AdditionalPhotos (20)       Worcester, MA 01602 2 Tatnuck Ter Neighborhood: Small dead end off the beginning Mill St Area/Village: Tatnuck List Price: $19...
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By AnnMarie Belair, Sterling Realty Belair, INC
(Real Estate Worcester County MA)
Listing Agent Information Ann Marie Belair - REALTOR® RE/MAX Associates 50 Leominster Rd • Sterling, MA  01564 - - - - - - - - - - - - - - - - - - - - - - - Direct: 978-422-8100 x36 • Phone: 978-678-0136 Cell: 508-523-2676 • Fax: 978-422-7997 Toll Free: 800-496-5551 x36 • Vm/Pager: 978-678-0136 Website: www.annmariebelair.com • Email: annmariebelair@remax.net   Back   PrintListing   EmailListing   CompareListing   MortgageCalculator   TownInfo   MapListing  
DistanceSearch
  Property Listing   AdditionalPhotos (12)       Worcester, MA 01606 6 Deepdale Street Area/Village: Summit List Price: $319,000 Type: Single Family Type of Single-Family: Attached Style: Ranch Status...
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By Bryan Flynn, Central Mass and Worcester Mortgages
(Regency Mortgage Corporation)
   CPI was hotter than expected which is inflationary and bad for mortgage bonds. CPI was estimated at .7% and came in at 1.1% year or year is 5%   Core CPI, ex -food and -engergy,  was estimated at .2% and came in at .3% year or year it is 2.4% It is the biggest CPI jump in a single month since 1982, biggest year or year  rise since 1991.   Bonds are down 25 bps but are down 19 bps right now but it's still early......overall not a great number but you kind of had to expect this so it could be priced in already by the traders.       __________________________________________________________________________________________________  The above Mortgage Market Update information was provided by Bryan Flynn of Wells Fargo Home Mortgage.  Bryan can be reached at Bryan.K.Flynn@wellsfargo.com o...
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By Christina Dowell
(Worcester Property Management LLC)
Jazz at Sunset at Worcester's Ecotarium! July 18: Worcester Jazz Orchestra - July 25: Lavay Smith and Her Red Hot Skillet Lickers  Gates open at 5:30PMConcert 6:30PM-8:30PMBring your own chair---chairs are not provided Concerts are on Fridays (through 7/25/08) from 6:30 to 8:30 p.m. on the museum's Sundial Plaza. In case of rain or the threat of rain, concerts are held in the tent pavilion Tickets are $18 per person (includes museum admission) or $15 per Ecotarium and WICN member.It's free for children 12 and under! Order tickets in advance at 508-929-2703 or www.ecotarium.org. Advanced tickets are available until 4:30 the Thursday before the show. Tickets also available at the gate on the night of the show. Light dinners, snacks, wine, beer, and soda are sold at all concerts. Please fe...
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By Bryan Flynn, Central Mass and Worcester Mortgages
(Regency Mortgage Corporation)
Another crazy day in this economy....the PPI was hotter than expected this morning which means inflation and the Retail Sales number missed.  The core PPI which takes out food and energy was slightly better than expected which is some positive upside, but really food and energy is an obvious concern.  Mortgage Bonds had a nice run up yesterday after their big brother, our government, backed Fannie Mae and Freddie Mac which confirms these companies are just too big to fail. Stocks look to open down this morning as GM halted their dividend.  Technically bonds closed between the 50 and 100 day moving average but are giving back some of yesterday's upside as they are down 16 bps this morning.  The dollar hit a record low against the euro this morning as well.  Look for volatility today as B...
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By Bryan Flynn, Central Mass and Worcester Mortgages
(Regency Mortgage Corporation)
The Crisis of Confidence....that's probably the best way to describe it.  Friday was a crazy day in the financial markets being headlined by the potential failure of the government sponsors agencies (GSEs), Fannie Mae and Freddie Mac.  At the start of Friday it was reported the government could take over these agencies over the weekend and perhaps they would dissolve and rename them.  Well both stocks opened sharply to the downside.  At about 2pm there were rumors that the Bernanke was going to announce the opening of the discount window to Fannie and Freddie to help solve their liquidity problems.  By 315pm the information was deemed untrue.  Freddie Mac rallied to positive territory and ended up closing slightly negative on the day, Fannie Mae was still done considerably.  After the c...
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By Christina Dowell
(Worcester Property Management LLC)
Worcester MA Condo real estate report: June 2008 CondosStatistics from June 2008:Average sale price in Worcester, June 2008: $126,181Average days on the market June 2008: 175 daysNumber of properties sold June 2008: 24Number of properties under agreement June 2008:  23 Statistics from June 2007:Average sale price in Worcester, June 2007: $181,087Average days on the market June 2007: 128 daysNumber of properties sold June 2007: 36Number of properties under agreement June 2007:  0 The condo market in Worcester remains a buyer's market. There is significant amount of inventory at various price points. For example in June, the sales prices ranged from $68,000-$515,000! So inventory is there at various price levels for buyers in Worcester! Worcester also just launched a new incentive program...
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By Christina Dowell
(Worcester Property Management LLC)
Worcester MA real estate report: Single family homes Statistics from June 2008:Average sale price in Worcester, June 2008: $222,140Average days on the market June 2008: 138 daysNumber of properties sold June 2008: 126Number of properties under agreement June 2008:  58 Statistics from June 2007:Average sale price in Worcester, June 2007: $238,249 Average days on the market June 2007: 111 daysNumber of properties sold June 2007: 115Number of properties under agreement June 2007:  0 The activity in the Worcester single family home market is stable. There is a decrease in average sale price of home. However the many bank owned properties and short sales can account for some of that price decrease. Homes are taking slightly longer to sell, but there has been more sales activity and 58 more p...
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By Christina Dowell
(Worcester Property Management LLC)
Worcester has launched a new program, Buy Worcester Now, to help buyers purchase properties in Worcester. The program has banks, attorneys and other partners who are committed to help buyers attain below market mortgage rates, no down payments financing, reduced closing fees and other excellent incentives. For more information, please contact me. It is an excellent program that can benefit many buyers! From the Buy Worcester Now website: Check out Worcester's home sale listings by neighborhood, and choose from the best and most responsible mortgage programs available from trustedlocal banks and credit unions - with extra gifts and rewards to make you feel right at home. Financing features to bolster your success:  ¼ or ½ percent below market rates, all at 30-year fixed rates No down pay...
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By Bryan Flynn, Central Mass and Worcester Mortgages
(Regency Mortgage Corporation)
Bonds have been on a wild ride this week trading significantly lower until a sharp turn around Monday afternoon followed by a big rally yesterday, opening at their low and closing just off their high.  The 30 year fixed rate is at it's best level in just over a month.  Bonds and stocks both finished up on the day which is not a normal occurrence.  Oil was down over $5 on the day, the biggest one day drop in about 4 months.  Technically bonds broke through 2 levels of resistance and are just 28 bps below the 200 day moving average, which will be their next level of resistance to overcome.  There are no major economic numbers for the rest of the week that should sway the market. For the LOs out there....pricing should improve this morning as the late day repricing probably did not account...
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By Christina Dowell
(Worcester Property Management LLC)
Worcester MA investor real estate report: June 2008Multi family homesAverage sale price in Worcester, June 2008: $160,916Average days on the market June 2008: 167 daysNumber of properties sold June 2008: 29Number of properties under agreement June 2008:  45 Statistics from June 2007:Average sale price in Worcester, June 2007: $232,437 Average days on the market June 2007: 112 daysNumber of properties sold June 2007: 19Number of properties under agreement June 2007:  0 The activity in the Worcester real estate investor market is picking up with 45 properties going under agreement to sell in June 2008. The average sale price has diminished since 2007. However the many bank owned properties and short sales can account for some of that decrease. All in all, it's remaining an active investor...
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By Bryan Flynn, Central Mass and Worcester Mortgages
(Regency Mortgage Corporation)
   Today is the last day of the 2nd quarter and the DOW is on pace to have its worse month of June since 1930.  A new oil intraday high of $143.57 just hit as well.  I just heard those stats and thought I should share. This is my first update in a week, I was in training most of last week and had limited computer access.  Mortgage Bonds did rally last week after the Fed changed their policy statement preparing themselves to act if inflation worries continue.  Personal Consumption Expenditure was released Friday as well and the Core PCE which does not count food and energy was lower than expected estimated 0.2% and the actual was 0.1%; meaning inflation for now is in check.  Bonds closed at their high on Friday above 2 levels of resistance and are up 6 bps today.  Rates will be better th...
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By Christina Dowell
(Worcester Property Management LLC)
The Greater Worcester Farmers Market season officially opened last week at 306 Chandler St. (Beaver Brook parking lot), Worcester. The market will operate from 9:30 a.m. to 2 p.m. Monday, Wednesday and Friday at the Chandler Street site. For years, the Friday market has been held in front of City Hall in Worcester, but it was displaced this year as a result of the Worcester Common Restoration project. Andrew O'Keefe, the market's managing director, said he would have preferred to stay downtown. "There wasn't anything I could do," O'Keefe said about the move. There isn't any other space downtown as desirable as the City Hall spot, he said. The Friday market will remain on Chandler Street until next year, according to O'Keefe.   Real Estate in Central MassachusettsWorcester Property Mana...
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By Bryan Flynn, Central Mass and Worcester Mortgages
(Regency Mortgage Corporation)
This week is about about Wednesday and what the Fed is going to do.  It would be an absolute shock if they chose to raise rates to begin the fight on inflation.  Wall Street is most interested in what the statement is going to say about the issues and their views, expect volatility.....safe beat is to lock.   _______________________________________________________________________________________________________________________ The above Mortgage Market Update information was provided by Bryan Flynn of Wells Fargo Home Mortgage.  Bryan can be reached at Bryan.K.Flynn@wellsfargo.com or by phone at 508.363.2223.  Bryan has worked in the Central Mass and Worcester area for the past 6 years as a mortgage loan officer.   More than likely, this is one of the largest and most important financia...
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By Bryan Flynn, Central Mass and Worcester Mortgages
(Regency Mortgage Corporation)
Bonds were off 3 bps on the day this Friday, aftering stalling out and not being able to break up the upward resistance line for the 3 consecutive day.  There was not economic released and the down did finish off down over 200 points and the S & P finished down 1.8%.  Unusual day for stocks and bonds both to lose stream.  However bond traders awaiting the fed decision on Wednesday, expect a very votatile week ahead.     _______________________________________________________________________________________________________________________ The above Mortgage Market Update information was provided by Bryan Flynn of Wells Fargo Home Mortgage.  Bryan can be reached at Bryan.K.Flynn@wellsfargo.com or by phone at 508.363.2223.  Bryan has worked in the Central Mass and Worcester area for the pa...
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By Bryan Flynn, Central Mass and Worcester Mortgages
(Regency Mortgage Corporation)
 Rates were down modestly today 22 bps on the day.  Bonds tested both the closest support and resisitance levels and closed right in the middle of it....meaning we are in another tug of war with the bulls and the bears going into next week's Fed meeting.  From a technical standpoint bonds are still "oversold" so hopefully we can break through the resistance and get interest rates back down a bit.   _______________________________________________________________________________________________________________________ The above Mortgage Market Update information was provided by Bryan Flynn of Wells Fargo Home Mortgage.  Bryan can be reached at Bryan.K.Flynn@wellsfargo.com or by phone at 508.363.2223.  Bryan has worked in the Central Mass and Worcester area for the past 6 years as a mortga...
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By Bryan Flynn, Central Mass and Worcester Mortgages
(Regency Mortgage Corporation)
Mortgage Bond are trading higher 12bps this morning following yesterday's momentum.  Bond are resting just above the closest resistance level which is bullish, no real news to report today.  Watch the stocks if they go down should be good for bonds today.  Tomorrow the Philly Fed Index will move the markets and next week the Fed meets......   _______________________________________________________________________________________________________________________ The above Mortgage Market Update information was provided by Bryan Flynn of Wells Fargo Home Mortgage.  Bryan can be reached at Bryan.K.Flynn@wellsfargo.com or by phone at 508.363.2223.  Bryan has worked in the Central Mass and Worcester area for the past 6 years as a mortgage loan officer.   More than likely, this is one of the l...
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By Christina Dowell
(Worcester Property Management LLC)
New England Summer Nationals in Worcester! Where: Greenhill Park2 Green Hill Avenue, Worcester, MA 01605 When:July 3-July 6 For four days Worcester hosts the New England Summer Nationals. Cars, trucks, hotrods, stunt bikes and more from all over the U.S. travel to Worcester, MA to showcase their vehicles! Live entertainment, Concerts, Vendors, Food, a bikini contest and more!!! Walk all over Greenhill and enjoy the cars, shows, shopping, food and more! At night Downtown Worcester shuts down the streets and converts the tunnel into a flamethrowing, burnout, and stunt show! Be sure to get there early for a good spot to view the show! Headquarter Hotel is the Crowne Plaza, where the hot rod and drag racing shows happen! For more information visit http://www.summernationals.com/index2.html
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