Blog :: 05-2016

Check out our latest blog posts below!

The Helmer Castle in Jackson, MI

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The Castle, constructed with over 500 tons of fieldstone and steel reinforcement include a dungeon below grade which is accessed through a trap door. The walls of the home are over three feet thick at the base with a lookout/sun deck on the top of the massive 7 story tower which is accessed by an iron spiral staircase. In total, the Castle has five bedrooms, three bathrooms and five fireplaces.

Middlesex County Has Fourth Highest Purchasing Power in MA

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According to a recent study by SmartAsset, Middlesex County has the fourth strongest purchasing power in Massachusetts. The study examined the cost of living expenses balanced with average income.

 

Shelter Island, Flathead Lake, MT

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This majestic mountain aerie, Shelter Island Estate, sits atop a solid granite foundation on 24-acre Shelter Island, rising from Montana’s Flathead Lake; one of the top 3 cleanest lakes in the world. This rare offering, currently the largest private home in Montana, features over 32,000 square feet of structures and commands 7,000 feet of prime lakeside frontage, extremely unique for private ownership. Being situated next to Glacier National Park is one more facet in this incredible jewel of a property.

 

Home Sales Forecasted to Have Best Year Since 2006

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Relentless supply constraints and home price growth outpacing wages are testing the patience of homebuyers this year, but existing-home sales are still on track to come in at their highest pace since 2006, according to an economic forecast forum at the 2016 Realtors® Legislative Meetings & Trade Expo.

Among the topics addressed were: the growing burden repaying student loan debt is having on young adults, the housing market and the overall U.S. economy.

Pending Home Sales Hit 10-Year High

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After the housing market’s best first quarter since 2007, sales this year are expected to come in around 5.41 million, a 3 percent boost from 2015. This report represents a boom in the housing market, and a solid foundation as the spring buying season ramps up. If this growth continues, 2016 could be the best year for the real estate market in a decade. 

 

 

Fidelity's CEO is the Wealthiest Individual in Massachusetts

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The new Forbes ranking of the wealthiest individuals declared Abigail Johnson, CEO of Fidelity Investments, as the wealthiest individual in Massachusetts with a net worth of $14.7 billion. 

A Solution to The Affordabiilty Crisis? The Affordable Millennial Dreamhouse

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In designing homes, there is a need for flexibility to make it financially plausible for millennials to afford ownership. That means a lower price point and space to rent out while the millennial buyer builds equity. One solution is the “responsive home” built in Henderson Nevada as a collaboration between TRI Pointe Group’s Pardee Homes and Hanley Wood’s Builder Magazine.

GE CEO Jeff Immelt's New Boston Home

One of the greatest real estate speculations this season has been the question of where Jeff Immelt, the CEO of General Electric, will move when the organization moves to Boston this late spring.

Well, according to public records, Immelt and his S.O., Andrea, are under contract to buy a 3,565 sq. ft. triplex home at 36 Commonwealth Ave., a 4 room property found a short distance from the Boston Public Garden. 

New Home Sales Soar Higher

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New home sales data released this week showed that sales were 16.6 percent higher than March when comparing the seasonally adjusted annualized rates, and 23.8 percent higher than last year.

This news comes from estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.

Colonial Residence in Cambridge for sale at $11.5 M

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47 Raymond Street in Cambridge, a beautiful 7,258 sq. ft. residence has just been made available for sale in the market for an asking price of $11,500,000.

The interior consists of 15 rooms and 5 bedrooms with state-of-the-art amenities. The house has an elegant finish to it with state-of-the-art heating, cooling and media technologies installed throughout the home. The 4,000 bottle wine cellar, heated driveway and reflecting pool complete the house.

Mortgage Rates Are At Their Lowest In 3 Years

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Despite a rapid increase in home prices, mortgage rates have dropped to their lowest point in three years. As of Tuesday, the average rate for a 30-year conforming mortgage nationally was 3.6 percent, down 2 points from last week. This drop means a 6 percent increase in buying power.

There are disadvantages to lower mortgage rates however. Credit availability declines marginally as the rates decline. With a small margin, lenders become more risk averse so indicators of credit tightness like the average FICO scores have gone up as rates have gone down.

Home Maintenance Tips: Wooden Fixtures

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Quality wood furniture can last a lifetime and is often a treasured heirloom, passed down through multiple generations. Still, even the highest quality wood is susceptible to scratches and abrasions. No matter what type it is, wood needs to be properly cared for.

When purchasing furniture, it never hurts to ask for specific cleaning and care instructions.

Here are 10 tips to keep your wood furnishings looking best for many years to come: