zillow-truliaOnline real estate database, Zillow is acquiring one of its biggest competitors, online residential real estate site, Trulia. News of the merger leaked Thursday, July 19th, with a rumor that Zillow planned to acquire Trulia for $2 billion, generating a stock price rise of 15.3 percent. The site’s stock reached $158 per share ending the week with a 28 percent gain.

Zillow confirmed these rumors Monday, July 28th announcing the final sale price of $3.5 billion to acquire their rival, Trulia, Inc. The deal has officially been approved by both Zillow and Trulia’s Boards of Directors and is set to close some time in 2015.

The Attias Group believes that these data-based sites provide valuable information to the consumer, and serve as a steadfast resource. We will continue to spend significant marketing dollars in order to give our clients homes a competitive sales edge on both sites. As a firm, we are committed to using a multitude of resources to “get the job done”.

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home-prices.riseThe most recent Massachusetts Association of Realtors (MAR) report of the Realtor Price Confidence Index (RPCI) is good news for those homeowners looking to sell this season. The RPCI, an indicator of realtor confidence in the strength of the market as it relates to securing fair-market value for real estate, climbed to 76.96 (out of a possible 100 points) in January — signaling its 24th consecutive month of increases. Since December, the index is up 1.57 points.

To calculate this score and the Realtor Market Confidence Index (RMCI), a random sample of surveys to Massachusetts Association of Realtors members is collected. The survey asks two very simple questions:

  1. How would you describe the current housing market?
  2. What are your expectations of home prices over the next year?

A third question unrelated to the RMCI or RCPI is posed based on current events and context of the market.  Each response to the RCPI survey reports that expected conditions to:

Rise >5%        (score of 100 points)

Rise 0-5%       (score of 75 points)

Level               (score of 50 points)

Fall 0-5%        (score of 25 points)

Fall >5%         (score of 0 points)

From this information we can ascertain that members of the Massachusetts Association of Realtors believe strongly that the price of homes will see significant growth in the current and near-future market.  A score of over 75 points (current RPCI: 76.96) indicates that most respondents believe prices will rise 0-5% with a minority concluding that it will increase over 5% from here.

Zur Attias, of The Attias Group, believes that the market deserves even more confidence, predicting a 5-8% increase in home values this season.

“Values of homes in the area are well positioned to continue rising this season,” Attias noted, “and we expect to see a significant increase in this low-inventory seller driven market.”

Partly responsible for the steady RPCI is the currently limited inventory of the Greater Boston area. “Low inventory has realtor confidence about prices remaining positive,” according to 2014 MAR President Peter Ruffini. Would you like to exert greater control over the price of your home in the face of multiple offer scenarios? Sounds like a healthy market to sell!

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sell-2014Have you been thinking of selling your home, but haven’t because of market concerns?

Well the time is now! The Greater Boston real estate imbalance has left buyers with a shortage of inventory to choose from and has left you, the sellers, in control of the reins. Listing your home at fair market value now, in January or February, will put you in a position of less competition and will also place you in a stronger negotiating situation. Buyers shopping in the winter season are serious purchasers. Who in many cases, must buy.

According to the Warren Group, a firm that collects real estate statistics and publishes Banker & Tradesman, October 2013’s Massachusetts’ single-family home sales rose almost 19 percent from last year’s, and the median price of a single-family home rose nearly 10 percent. This is the highest median price for the month of October, the last full month of the Fall 2013 market, since 2007. October’s median condominium price also rose a little over 11 percent compared to October 2012’s median price.

Despite Eastern Massachusetts’ 34.4 percent decrease in the number of new listings compared to last year, buyers are continuing to search and are consistently having bidding wars for properly priced homes. Buyers also fear a continued increase in mortgage rates and are looking to buy before the rates climb any further. Although previously not recommended, some home buyers are even going as far as making offers without a home inspection contingency in order to win the bid in multiple offer situations. Sound familiar?

Between 9/1/2013 – 11/27/2013 our local markets of Concord, Carlisle, and Acton saw single-family houses selling above asking price at a substantial percentage.

During these dates, Concord saw approximately 17% of its homes sell above their listing price, Carlisle 18%, and Acton 24%.

Clearly, based on these facts, the market for 2014 will be strong.

To speak with one of The Attias Group’s skilled listing agents about selling your home or with one of our top buyer agents, please contact us at 978.371.1234 or visit our website at www.theattiasgroup.com.

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Investing in a Vacation Home

November 11, 2013

Tweet Whether you want to invest in a vacation home in the hills and valleys of the Berkshires, the islands of Nantucket or Martha’s Vineyard, the ski mountains of Vermont, or the Swiss Alps The Attias Group Real Estate believes now is the time to buy. According to the National Association of Realtors, the sale […]

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Home Prices on the Rise

August 2, 2013

Tweet This week’s headlines have been dominated by a double-digit increase in home prices reported by Standard & Poor’s/CaseShiller indices.  Their report showed on a national level, home prices jumped 12.2% in May compared with a year earlier.  The Attias Group Real Estate surveyed some local communities over the same time period as a comparison.  […]

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Finding a Home’s True Value

July 26, 2013

Tweet When evaluating a piece of real estate, there should always be a pro/con list created at some point in the discussion.  Required and future improvements should appear on that list.  These improvements can dramatically affect your perception of value.  “In a seller driven market, buyers have to decide if they want to make an […]

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Summer Safety

July 5, 2013

Tweet As the school buses take refuge for the summer months and barbeque grills take the brunt of the work from the stove, it is important to think about summer safety.  There are plenty of hidden dangers associated with summer such as swimming pools, bikes, mosquitoes, etc., but The Attias Group Real Estate wants you […]

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Equity Building in Various Markets

June 28, 2013

Tweet Figures released by CoreLogic further bolster predictions made by The Attias Group Real Estate about the overall health and recovery of the real estate market.  CoreLogic reports 850,000 more residential properties that have a mortgage returned to a state of positive equity during the first quarter of 2013.  The total number of mortgaged residential properties […]

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Protecting Your Biggest Investment

June 21, 2013

Tweet As severe and dangerous weather stories dominate the headlines throughout the country, it is a good time to reflect on catastrophic events that can occur in New England.  We may not be at risk for tornadoes, but blizzards, Nor’Easters, and hurricanes are real threats to our homes.  Have you thoroughly protected your single greatest […]

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New Construction Market Trends

June 14, 2013

Tweet The United States Census Bureau released their annual report on Characteristics of New Housing this week.  The report contains historical data back to 1973 on construction trends in materials, size, price, and types of systems.  Of note to The Attias Group Real Estate is the size and price per square foot of new construction.  […]

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