The Tax Credit Is Over – Should I Buy?

Well, from the perspective of the North Shore marketplace, here are some good reasons you should buy a home now:

While Boston appears flat, according to the Case-Shiller price index, there is much speculation that the market has hit bottom here.

Read the full S&P/Case-Shiller release.

Home sales were up in April.

Home prices rose in April.

Nationally, new home construction permits were up in April.

Interest rates have fallen to below 5% and according to an article in Realtor Magazine:

“Borrowers eager to lock in a very low-rate mortgage should apply in the next day or two, says Bankrate.com mortgage analyst Holden Lewis.

Rates haven’t been this low since the 1950s, he says, adding that rates are unlikely to fall further.

“You can float, but that’s not a smart strategy. It’s like asking for another card when you have 19 in blackjack. Stand and take your chances,” he advises.”

Source: Bankrate.com (5/26/10)

Do you think it’s a good time to buy?  Write in and share your thoughts.

It’s Planting Time On The North Shore

No matter the size of your garden -  a patch, a pot, a window box, an acre – May is the month for planting on the North Shore.  The area nurseries are chock-full of tempting plants and the weather has been delightfully cooperative.  This weekend, I visited Corliss Brothers in Ipswich and picked up tomato, pepper, basil, and lettuce plants, as well as a basket of petunias, some bean and spinach seeds, and a bale of salt hay.  I was having a grand time wandering among the flowers, shrubs, and trees, envisioning them planted in my landscape – while my husband waited in line with our purchases.  There are many great garden centers on the North Shore.  Others I frequent are Northeast Nursery in Peabody, Wolf Hill in Ipswich (which is holding “Date Night” on Thursdays & Fridays), and Ward’s Greenhouse in Beverly for hanging and bedding plants.

Of course, this is only a partial list of all of the great places you can find healthy and happy plants for your garden.  What are your favorites?  Write in and tell us.

Happy gardening!

North Shore Housing Recovery? Which Data Are You Looking At?

On this morning’s news I heard that stocks fell on a disappointing  jobs report.  MSNBC.com reported, “Unemployment remains a major obstacle to a strong recovery. The unemployment rate jumped to 9.9 percent last month, although employers added 290,000 jobs. Investors want to see consistent job creation as well as regular declines in claims for jobless benefits before becoming confident that the labor market is healing.”

Therefore, I wasn’t expecting to see this from today’s Boston Globe, “The April gains were the largest monthly increase in 17 years, as employers added jobs for the third consecutive month . The unemployment rate fell to 9.2 percent in April from 9.3 percent in March and 9.5 percent in February.”

Since we know that housing won’t recover until jobs do, it is important that the local data is separated from the national data.  If the Massachusetts unemployment data is correct, that bodes well for the future of our local housing market.

On May 4th – “The Massachusetts Association of REALTORS® (MAR) reported that the number of single-family homes put under agreement in April was up 25 percent over the same time last year, while condominiums were up 22 percent.  April is the tenth straight month that the number of both single-family homes and condominiums put under agreement had increased over the year before.”

The first-time home buyer tax credit of $8,000 and a move-up tax credit of $6,500 both expired on April 30th.  The real estate community is holding its collective breath to see what impact the tax credit expiration will have on home sales going forward.  We’ve had considerable momentum heretofore in the North Shore market; will it continue?

Using Multiple Listing reports, it shows that 190 single-family homes in the North Shore went under contract from May 1 through May 20 of this year.  For the same period in 2009, 138 properties went under contract.  So, in my informal survey, it looks like a better season this year.

Keeping my fingers crossed!

There’s A New Pet Store In Town – Unleashed Comes To Beverly

Unleashed, a division of Petco, has opened a new store in Beverly Plaza (think Shaw’s, Panera Bread). This weekend was their Grand Opening celebration and Casey and I visited this morning. Lots of people and their pets, along with a Guide Dog Organization, a Photographer (yes, I had Casey’s portrait taken), Cape Ann Animal Aid, and more.  Very festive and friendly.  The celebration is through this weekend.  Stop by and say hi, along with your four-footed family member.

Unleashed Grand Opening - Beverly, MA

A Shout Out To Danvers Animal Hospital

My dog, Casey, is starting to show signs of old age.  At almost ten, arthritis has made her lame many days and she doesn’t enjoy walks the way she once did.  A recent trip to the veterinarian started me thinking about my long relationship with Danvers Animal Hospital.  Dr Myers, the principal, is kind and patient, and a talented surgeon.  Fifteen years ago, he performed some delicate surgery to repair the shattered hip of one of our cats, who had been hit by a car.  When I took in an old, stray street cat with feline aids, they were able to help me give him eight healthy years. More than twenty years ago, one of his then associates (I’m embarrassed to say I’ve forgotten her name) helped me nurse my collie, Mackie, through many health crises, including megaesophagus and colitis.  It was she, with sensitivity and patience, who helped me make the awful decision to end his life – when age and illness had taken away his joy in living.

In addition to Dr. Myers, Danvers Animal Hospital has seven associates, so you’ll be sure to find someone who matches you and your dog’s temperament.  Dr. Caroline Balint is my and Casey’s doctor of choice.  She’s down to earth, friendly, pragmatic – and Casey loves her.  They have a friendly and efficient staff and a dynamite parrot, Cedric, who’ll entertain you with his talking.  You’ll meet the resident hospital cat, Ashton, and there are often kittens available for adoption through Strays in Need.  In addition to veterinary services, you can take your dog to one of their techs when he/she needs a nail trim.  Last, but not least,  they have a great website www.DanversAnimalHospital.com, which has a “pet portal” you can set up for your own pet.

The only complaint I have, is when there are emergencies, you can have quite a wait.  Despite that minor inconvenience, they have my loyalty and recommendation.  Casey’s too!

New Massachusetts Law Regarding Oil Tanks

Effective July 1, 2010, a new law takes effect in Massachusetts that requires the upgrading of home oil-heat systems.  The fix does not appear to be prohibitively expensive and should help prevent the nightmare of a leaking oil tank. 

To help explain the new regulation, I’ve enlisted the aid of Ellen Boisvert of Scott Oil.

Effective July 2010, New MA Law Requires Some Oil Line Replacements Before Legal Transfer of Property

Home buyers and sellers have one more thing to think about before a home sale this year. They need to be aware of a new Mass State law taking effect on July 1, 2010.  Non-compliance with the law could hold up a sale and/or spur unwanted disputes.

The law was passed as a consumer protection measure, which addresses only oil lines that come in contact with the floor and requires that they either be coated with a continuous, non-metallic sleeve or be protected by an oil safety valve.  If you are not sure, contact the home’s current oil company to get the facts.  There is a cost for replacing the line or adding the valve but it is a wise precautionary measure that will also make the home safer.  Work should be complete prior to the July 1, 2010 deadline.  A certificate of compliance is granted for use in the home sale and for proof for insurance.

The same law also requires insurance companies to offer optional coverage to protect the home in event of an accidental release of oil.  Homeowners will have a choice whether or not to buy the additional insurance.h

Because the law is new, the consequences of non-compliance are unclear at this point.  However, this should not prevent homeowners from understanding the law and working closely with their oil dealer and real estate agent as the mandated deadline approaches.

Ellen Boisvert, Marketing Manager at Scott Oil Company for the past year, with prior experience in Environmental Services and Food Industry Marketing & Sales.  Scott Oil is located in Gloucester MA and services 20 communities in the greater Cape Ann / North Shore area.  The company prides ourselves on being industry leaders and indoor air climate experts.  We are pleased to report that through pro-active measures over 95% of our customers are in compliance with the requirements of the new law.

Ellen can be reached at 978-526-4929, email: ellen@scottoil.com

Fact sheet regarding the new law.

Thinking About Title Insurance

Since the beginning of the year, three of the properties I’ve sold or listed have had title issues.  None of the homeowners involved had title insurance.  In one case, an heir to the property in a prior sale had to be tracked down to get his signature on the deed.  What this meant to the buyer and seller was that the closing kept being postponed.  Since each party had to scramble to change their moving plans on several occasions, this resulted in considerable stress.

It’s often been my experience that well-meaning friends, family, and even agents will advise the buyer that title insurance is a “waste of money”.  After all, the reasoning goes, the bank requires the buyer to purchase title insurance.  Yes, but this only covers the bank.  An owner’s title policy will protect you, the homeowner.  When you run into a title problem when trying to sell your house, you’ll regret not having spent that extra money.  It can cost considerable time, money, and perhaps the sale, to clear a title defect; and the problem usually isn’t discovered until close to closing day.  Buyers should research the benefits of having an owner’s title insurance policy and think about putting money aside to purchase it at closing.  You may find it’s money well spent.

An excellent post by Elizabeth Weintraub of About.com Guide, on Title Insurance

Beverly Household Hazardous Waste Day, Nature Walks, and more…

If you’re a Beverly or Salem resident, and you’ve managed to amass a collection of old cans of oil paint, pesticides, weed killers, and florescent bulbs; you’ll soon have a chance to get them out of your house.  Beverly is holding a Household Hazardous Waste Collection Day at Beverly High School on Saturday, April 24, 8 a.m. to noon.  There is a $20 fee. The city has a reciprocal agreement with Salem, so that Salem residents can bring their household hazardous waste to Beverly’s collection and vice versa (Salem holds theirs on October 2).  By the way, latex paint is not included. To dispose of latex paint, simply remove the lid, let the paint dry, then throw it in the trash.

Beverly offers its fifth annual Earth Day Nature Walk Series from the end of April to the end of May.  Details here.

Calculate your carbon footprint at these Webs sites: earthlab.com, carbonfund.org.

On The North Shore, Everything’s Coming Up Spring

No doubt about it, Spring is here! Everywhere you look, trees, shrubs, and bulb flowers are in bloom. Leaves are forming on the trees, and the lawns have turned green. The squirrels dug up and moved most of my bulbs, so they’re coming up in all sorts of places I didn’t expect. Serendipity. In downtown Beverly, it’s a festival of white, as the pear trees lining the streets have burst into flower.

Speaking of pears, come celebrate Beverly Main Streets’ first Pear Blossom Festival downtown from April 30-May 2. Loads of activities for kids and adults. Activities include a scavenger hunt, costume parade, May Day basket-making, musicians.  Tickets are being sold for the Swing Dance, 5K Road Race and Children’s Fun Run, and a Formal Tea.  You can find ticket information and a schedule of events here.

Hope to see you there!

Walk In A Favorite North Shore Place

Sunday, with Mike, I visited one of my favorite North Shore places, the Ipswich River Wildlife Sanctuary in Topsfield.  It was a beautiful day to enjoy a walk along some of its miles of trails.  The parking lot was full of cars and people were everywhere; some with cameras and binoculars – hoping for a glimpse of a bluebird or two, others hiking  their favorite trails.  Mike and I headed for the river and then the Esker trail.  All along the path, near the water’s edge, we could see where beavers had been gnawing on trees.  A turtle was sunning itself on a log.  At one point, we came face to beak with a wild turkey in the trail.  He walked along in front of us for quite a while, until at a fork in the trail, he scooted away.  We often see deer, and last spring, an otter.  It was a little busy for wildlife watching, so we contented ourselves with a pleasant walk in the woods.  The Ipswich River Wildlife Sanctuary is a Mass Audubon property and you can buy a membership at the Visitor Center there.  They offer programs throughout the year for adults and children and a membership gives you access to all the Audubon sanctuaries.  Visit their website for information and to sign up for their e-newsletter, Ipswich River Meanderings.