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FASTEN YOUR SEAT BELTS!

2016 is going to be a dynamic year for our local real estate market! 

I recently attended a real estate economic forecast at the Federal Reserve Bank in Boston, where one of the top real estate economists in the nation predicted that 2016 will go down as one of the busiest years ever, especially in the Greater Boston region.

Locally, we share those expectations for the new year based on the latest economic data, strong consumer demand, and the solid momentum from 2015 that continues to propel our local real estate market forward. 

Existing home sales and prices have finally recovered from the "great recession" and in many cases hit new highs in 2015. Distressed activity like short sales and foreclosures are down substantially as values have increased to pre-downturn levels.

All through 2015 inventory was pretty consistent with demand exceeding supply.  We expect this condition, known as a "sellers' market" to continue to be the case throughout 2016.

Demand is being been fueled by low interest rates, easing of credit access, and a strong local economy that continues to create well-paying jobs.

Most importantly though, are the demographic changes that are effecting our region. 

According to Realtor.com the Boston area will be number 1 region in the nation in 2016 when it comes to baby boomers shaking up the real estate market.  Whether it is downsizing from an empty nest to a condo, buying a larger home or investing in a vacation property, boomers are driving the market's resurgence.

Just as importantly are today's millennial generation, a huge group born starting in the early 1980's.  This well educated and consumer savvy generation are already making an enormous impact as they begin to make their move into homeownership.  This next wave of buyers are drawn to our area in particular because of our strong local school systems.

According to all the national data, 6 month purchase plans are up-pointing to a strong spring.  In fact, according to realtor.com, over the past 90 days, a record number of buyers and sellers have begun the preliminary step of preparing for a move by accessing the popular real estate web site.

If you are serious about making a move in 2016, now is the time to start preparing for what will be an intense spring market.  

If you're a seller that means taking the time over the next few months to prepare your property for the marketplace.  That could mean simple decluttering or making more extensive improvements to maximize value.  Our agents can provide you with important advice and guidance as well as an accurate market evaluation to properly price your home.

If you're a buyer, it makes sense to establish a relationship with a Realtor now before the spring rush.  As a buyer, when you are shopping in a marketplace with a shortage of homes it makes all the difference when you work with an experienced and knowledgeable agent especially when you are competing against others for a chance to buy your dream home.

We would like to take this opportunity to thank all of our clients in 2015 for once again making Northrup Associates the leading real estate company in the region. 

We are a unique company, that has stood the test of time.  We are proud to have worked with generations of families helping them buy and sell their homes. The secret to our success is the time we take to  work personally with each and every one of our clients.

Call Northrup Associates so that we can help make your move in 2016 a success!

Northrup Associates Announces Top Producers, Bolino Takes Top Honors

Standing (L-R) Elena Drislane, Alex DeRosa, Gale Rawding, Marcia Poretsky, Christine Carpenter

Seated: (L-R) Debra Roberts, Helen Bolino, Maria Miara

 

Northrup Associates Announces Top Producers,

Bolino Takes Top Honors

LYNNFIELD-Northrup Associates honored the firm's Top Producers for 2014 during a recently held annual meeting and awards breakfast. 

"Northrup is pleased to recognize these Realtors with this honor. Each is a leader in the real estate community empowering local homebuyers and sellers with valuable information, helping them to make informed real estate decisions," said Broker/Owner Richard Tisei.

At the meeting, Helen Bolino was named overall Top Producer for listings and sales in 2014.  Bolino has been the number one agent in Lynnfield sales and listings for 13 consecutive years. This award represented her investment of many hours of personal service and attention to her customers and clients. "Helen's intimate knowledge of the North Shore has earned her a strong base of loyal repeat clientele," said Tisei.

"Gale Rawding was Northrup's 2nd Top Producing Realtor and she has a unique combination of skill, wealth of knowledge and over 25 years of impressive real estate experience. "Gale has built relationships based on trust, respect, integrity and complete customer satisfaction," said Tisei.

Tied for 3rd place were Marcia Porestsky and Maria N. Miara.

"Throughout her career, Marcia Poretsky has consistently been one of the region's top producers, specializing in single-family and condominium sales, she has built a loyal clientele as a result of her attention to detail and problem solving skills," said Tisei.

Maria N. Miara "Maria's career has continued to excel in representing clients with their residential and commercial real estate needs and is identified as a highly skilled real estate broker, having the qualification as a former building inspector with an extensive construction and business background," said Tisei.

Alex DeRosa and Elena Drislane of The Alex & Elena Team are highly experienced professionals with a combined 37 years in real estate. "Both use the latest in technology to ensure prompt communication, timely responses to inquiries, & keep their clients informed throughout the process," said Tisei.

Debra Cuozzo Roberts prides herself on a high level of honesty, accessibility, and personal service. Debra has a love of decorating and design and is available to lend advice and help with home staging and redesign prior to placing your home on the market," said Tisei.

Christine Carpenter was recognized for outstanding sales achievement and her knowledge of the North Shore communities makes her an asset to the firm. Christine began her career in a difficult market yet she quickly established herself as a Top Producing Realtor," said Tisei.

Overall the company's regional market share and total volume were among the highest in the company's history in 2014 ending the year with $78,561,666 in total volume sold.

"As a locally owned and independently run office, Northrup Associates is able to provide a level of service that other real estate firms simply cannot match. That has been Northrup's mission in the past and will remain our guiding principle in the future. I would like to thank our entire sales force for their dedication, hard work and for providing distinct satisfaction to those customers and clients in Lynnfield, Peabody and the surrounding North Shore communities," concluded Tisei.

Comments

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    • Ruth on

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      NORTHRUP ANNOUNCES 2013 TOP PRODUCERS

       

      Standing (L-R) Debra Roberts, Marcia Poretsky, Helen Bolino, Maria Miara

      Seated: (L-R) Elena Drislane, Alex DeRosa

       

      LYNNFIELD-Northrup Associates recently honored its 2013 Top Producing Realtors® during their annual meeting and awards breakfast. Northrup’s Broker/Owners, Bernie Starr and Richard Tisei discussed the real estate firms productive and successful year. “Although the national real estate market has slowed since last year, home sales on the North Shore are still very strong, creating inventory shortages in many neighborhoods,” said Broker Owner Richard Tisei. “We are proud to recognize these Realtors® for their high level of accomplishment and commitment to the real estate industry,” said Broker Owner Bernie Starr.  The local market was dynamic in 2013, with some homes receiving multiple offers over the asking price. Northrup Associates and its Realtors® capitalized on these market conditions, enabling their seller clients to maximize the return on their investments, and helping buyer clients purchase the homes they wanted even in an extremely competitive marketplace.

      Each of our Realtors® maintains high standards of professionalism along with a quality of superior customer service. Northrup’s standard of excellence is not a Goal; it is our Standard Operating Procedure. This is what makes our real estate firm stand out among other real estate offices.

      Helen Bolino earned the distinction of having her best year ever in 2013. Helen was not only Northrup’s Top Realtor but she also continues to be the #1 Agent in Lynnfield, with 40 transaction sides, 22 being Lynnfield sales which is more than double the number of transactions than any agent in town. Helen has held this achievement for thirteen consecutive years with a total unit volume in excess of $125 million dollars. “Helen’s trademark has been her knowledge of the real estate market, her tireless work ethic and superior customer service,” said Tisei.  This award represents her investment of many hours of personal service and attention to her customers and clients.

      Marcia Poretsky was Northrup's 2nd Top Producer for listings and sales and has consistently been one of the region’s Top Producers, specializing in single-family and condominium sales. “She has earned this distinction for her years of dedication, professionalism and has established a strong reputation for excellence and created a large following of satisfied customers,” said Tisei.  Marcia strives to ensure that everything that is expected from a Realtor® is delivered with superior skills for property owners and prospective buyers.

      Maria Miara has built and maintained relationships with clients that have continued to have her among the Top Producers at Northrup. “Her top priority is to provide all of her client’s with unparalleled service and personal assistance for their real estate needs,” said Tisei. Maria provides her clients with the markets’ most accurate and updated information, is incredibly detailed, and executes even the most complex transactions while exceeding her client’s expectations.

      Debra Cuozzo Roberts prides herself on a high level of honesty, accessibility, and personal service. As an Accredited Staging Professional, she has a love of decorating and design and is available to lend advice and help with home staging and redesign prior to placing you home on the market.  “Debra’s proactive thinking and a high level of initiative and direct communications make her a vital representative for her clients,” said Tisei.  Highlighting a properties strengths is an important marketing tool and Debra does this with ease.

      Alex DeRosa and Elena Drislane of The Alex & Elena Team earned the title of Top Producers through their knowledge of local properties, marketing, technology, experience and drive.  “Alex and Elena are excellent negotiators and problem solvers who are able to maneuver through all types of issues that typically arise during a real estate transaction,” said Broker/Owner Richard Tisei. Alex and Elena are consummate professionals who have built their business on the numerous referrals of many satisfied clients.

      Overall, Northrup Associates market share and total volume grew both locally and regionally in 2013 ending the year with MLS statistics depicting a total dollar volume of sales of $89,961,276 with 162 sales throughout the Commonwealth of Massachusetts. In 2013 Northrup Associates proudly closed more sale transactions that they have in the firm’s 60th year history.  It is no wonder Northrup Associates has and continues to be “Your Home Town Realtor”.

      “As a locally owned and independently run office, Northrup Associates is able to provide a level of service that others simply can not match. That has been the secret to our success in the past and will remain our guiding principle in the future. I would like to thank our entire assembly of Realtors, for their efforts in 2013 and for providing distinct satisfaction to those customers and clients in Lynnfield, Peabody and the surrounding North Shore communities,” concluded Tisei.

      June Bay State Home Sales Rise For Second Consecutive Month

      Per: Banker and Tradesman,
      Tuesday, July 23, 2013
      Massachusetts single-family home sales increased again in June, climbing to the highest level for any month in three years, according to the latest report by The Warren Group, publisher of Banker & Tradesman. Single-family home sales rose 1 percent in June, the second straight month of increases. A total of 5,591 single-family homes sold in June, up from 5,535 a year earlier. This marks the best month for sales since June 2010, when there were 5,662 sales. June2013MASales chartSecond quarter home sales totaled 13,915, a 2.2 percent increase from 13,616 in the second quarter of 2012. "The housing market continues to boom locally, and nationally," said The Warren Group CEO Timothy M. Warren Jr. "As long as mortgage rates and home prices don't spike too high, we'll see a very strong recovery year for the market in 2013." Year-to-date home sales statewide are up 0.12 percent. From January to June, a total of 21,659 single-family homes have sold, compared to 21,633 during the same period a year ago. For the ninth consecutive month, year-over-year home prices increased. The median sale price of single-family homes statewide increased almost 9 percent to $350,000 in June, up from $321,800 in June 2012. The year-to-date median sale price rose more than 12 percent to $315,000, up from $281,000 during the same period last year. Quarterly prices increased more than 10 percent to $330,000, up from $299,700 during the second quarter 2012. "No monthly median price had been this high for any month since August 2007. Buyers have come out to the market in droves and aggressive bidding is driving up prices. While not a problem at this juncture, I hope for more modest increases in the future," Warren added. "We don't want to see prices rise to the point where home ownership becomes unaffordable." Bay State condominium sales dropped in June, decreasing more than 3 percent from a year earlier. A total of 2,189 condos sold in June, down from 2,261 a year earlier. Year-to-date condo sales are up almost 2 percent to 8,750 from 8,609 a year earlier. However, condo sales for the second quarter climbed from a year earlier. In the second quarter, 5,679 condos sold, up almost 3 percent from 5,552 during the same period a year ago. The median sales price of condos increased again in June. The median selling price was $320,000, up 3.2 percent from $310,000 a year earlier. The second quarter median condo price rose 2.4 percent to $302,000 from $295,000 in the second quarter 2012. The year-to-date median price of condos in the Bay State is $284,000, up more than 3 percent from $275,000 a year ago. - See more at: http://www.bankerandtradesman.com/news155837.html#sthash.A5hWJWWn.dpuf

      Northrup Associates Announces Top Producers

      Northrup Associates Announces Top Producers,

      Bolino Takes Top Honors

      Seated: (L-R) Helen Bolino, Debra Roberts Standing (L-R) Alex DeRosa, Maria Miara, Elena Drislane Seated: (L-R) Helen Bolino, Debra Roberts
      Standing (L-R) Alex DeRosa, Maria Miara, Elena Drislane

      Seated: (L-R) Helen Bolino, Debra RobertsStanding (L-R) Alex DeRosa, Maria Miara, Elena Drislane

      LYNNFIELD-Northrup Associates recently honored the firms Top 5 Producers for 2012 during their annual meeting and awards breakfast. At the meeting, Northrups Broker/Owners, Bernie Starr and Richard Tisei reviewed the companys growth over the past year and outlined plans for a productive 2013. Northrup is pleased to recognize these Realtors with this honor. Their competitive intelligence, professionalism and dedication have made them valued and trusted real estate resources for the North Shore community with each being major contributors to the overall success of Northrup Associates as a whole. said Broker/Owner Richard Tisei. Each of our Realtors maintains high standards of professionalism along with a quality of superior customer service. Northrups standard of excellence is not a goal; it is our Standard Operating Procedure. This is what makes us stand out among other real estate offices and it is what Northrup has been become known for and that each our clients expect, said Broker/Owner, Bernie Starr Helen Bolino has been the number one agent in Lynnfield sales and listings for twelve consecutive years with a total unit volume of more than $125 million dollars. Most recently she was names Top Producer with a sales volume of $14,487,350 for 2012. This award represented her investment of many hours of personal service and attention to her customers and clients. Helens trademark has been her knowledge of the real estate market, her tireless work ethic and superior customer service, said Tisei. Alex DeRosa and Elena Drislane of The Alex & Elena Team earned the distinction as a being Top Producers for 2012 with a total unit volume of $7,973,500. Both are consummate professionals who have built their business on the referrals of so many satisfied clients. Their competitive intelligence and dedication to their respective communities of Peabody and Lynnfield make them valued and trusted real estate resource. said Broker/Owner Richard Tisei Maria Miara has built and maintained relationships with clients that have continued to have her among the Top Producers at Northrup. Her top priority is to provide all of her clients with unparalleled service and personal assistance for their real estate needs, said Tisei. Maria provides her clients with the markets most accurate and updated information, is incredibly detailed, and executes even the most complex transactions while exceeding her clients expectations. Debra Cuozzo Roberts prides herself on a high level of honesty, accessibility, and personal service. She has a love of decorating and design and is available to lend advice and help with home staging and redesign prior to placing you home on the market. Debras proactive thinking and a high level of initiative and direct communications make her a vital representative for her clients, said Tisei. Overall, Northrup Associates market share and total volume grew both locally and regionally in 2012 ending the year with MLS statistics depicting a total dollar volume of sales of $75,149,521 with 149 properties sold throughout the Commonwealth of Massachusetts. In 2012 Northrup Associates proudly closed more sale transactions that they have in the firms 60th year history. It is no wonder Northrup Associates has and continues to be Your Home Town Realtor. As a locally owned and independently run office, Northrup Associates is able to provide a level of service that others simply can not match. That has been the secret to our success in the past and will remain our guiding principle in the future. I would like to thank our entire sales force for their dedication, hard work and for providing distinct satisfaction to those customers and clients in Lynnfield, Peabody and the surrounding North Shore communities, concluded Tisei.

      Bolino Recevies Top Achievement Award

      Bolino Recevies Top Achievement Award

      Realtor, Helen Bolino and Broker/Owner of Northrup Associates, Richard Tisei,

      Realtor, Helen Bolino and Broker/Owner of Northrup Associates, Richard Tisei,

      LYNNFIELD-Northrup Associates is proud to congratulate Helen Bolino for having won the Top Achievement Award for an impressive twelve years as the #1 agent for Lynnfield sales and listings with a total unit volume of more than $125 million dollars. It is very rewarding to be recognized for my work. During these economic times, it takes a lot of hard work, dedication and perseverance to succeed. I am very fortunate in having many loyal customers who refer new clients to me and it is very gratifying to know that they have been satisfied with the level of service they have received, Bolino said in accepting the award. Helen has consistently been a Top Producer at Northrup Associates and the #1 agent in our community for the twelve years. She has earned this distinction for her years of dedication, professionalism and has established a strong reputation for excellence and created a large following of satisfied customers, said Tisei.

      Comments

      1. Jenifer on

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        Housing market improves slightly last year

        By Jeff Shmase LYNNFIELD-While the housing market is not nearly as strong as it was five years ago, it is improving and no exception, siad the owner of local real estate company. Richard Tisei, the owner of Northrup Associates in town, said if home prices are priced correctly, it should be a good year for the market. "If (interest) rates remain low, I think you'll continue to see the market moving in the right direction," he said. Both single-family and condominium sales were up in Lynnfield in 2010, relative to 2009. Last year, 108 single family homes were sold, compared to 98 in '09. Twenty-five condominiums exchanged hands last year, versus 16 in 2009. The median single-family home price was also up, about 10 percent. The median price in 2010 was $529,000; it was $479,500. Condominium prices, however fell in a year-over-year comparison. The median price of a condo sale in 2010 was $350,000 versus $389,900. Properties were not on the market as long either. The average days on the market for the 108 homes sold was 111, compared to 147 in 2009. The same held true for condominiums, where on average it took 165 days to sell those properties, compared to 181 in 2009. Lynnfield bucked the statewide trend in several areas. First, home sales fell slightly (1. percent) across the state. While the median price of a single-family home across the state rose, it did not match Lynnfield's gain. Article courtesty of: Peabody & Lynnfield Weekly News February 3, 2011

        December Existing-Home Sales Jump

        Washington, DC, January 20, 2011 Existing-home sales rose sharply in December, when sales increased for the fifth time in the past six months, according to the National Association of REALTORS. Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 12.3 percent to a seasonally adjusted annual rate of 5.28 million in December from an upwardly revised 4.70 million in November, but remain 2.9 percent below the 5.44 million pace in December 2009. Lawrence Yun, NAR chief economist, said sales are on an uptrend. December was a good finish to 2010, when sales fluctuate more than normal. The pattern over the past six months is clearly showing a recovery, he said. The December pace is near the volume were expecting for 2011, so the market is getting much closer to an adequate, sustainable level. The recovery will likely continue as job growth gains momentum and rising rents encourage more renters into ownership while exceptional affordability conditions remain. The national median existing-home price2 for all housing types was $168,800 in December, which is 1.0 percent below December 2009. Distressed homes3 rose to a 36 percent market share in December from 33 percent in November, and 32 percent in December 2009. The modest rise in distressed sales, which typically are discounted 10 to 15 percent relative to traditional homes, dampened the median price in December, but the flat price trend continues, Yun explained. Total housing inventory at the end of December fell 4.2 percent to 3.56 million existing homes available for sale, which represents an 8.1-month supply4 at the current sales pace, down from a 9.5-month supply in November. NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I., said buyers are responding to very good affordability conditions despite tight mortgage credit. Historically low mortgage interest rates, stable home prices, and pent-up demand are drawing home buyers into the market, Phipps said. Recent home buyers have been successful with very low default rates, given the outstanding performance for loans originated in 2009 and 2010. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 4.71 percent in December from 4.30 percent in November; the rate was 4.93 percent in December 2009. A parallel NAR practitioner survey shows first-time buyers purchased 33 percent of homes in December, up from 32 percent in November, but are below a 43 percent share in December 2009. Investors accounted for 20 percent of transactions in December, up from 19 percent in November and 15 percent in December 2009; the balance of sales were to repeat buyers. All-cash sales were at 29 percent in December, compared with 31 percent in November, but up from 22 percent a year ago. All-cash sales have been consistently high at about 30 percent of the market over the past six months, Yun said. Single-family home sales jumped 11.8 percent to a seasonally adjusted annual rate of 4.64 million in December from 4.15 million in November, but are 2.5 percent below the 4.76 million level in December 2009. The median existing single-family home price was $169,300 in December, down 0.2 percent from a year ago. Existing condominium and co-op sales surged 16.4 percent to a seasonally adjusted annual rate of 640,000 in December from 550,000 in November, but remain 5.2 percent below the 675,000-unit pace one year ago. The median existing condo price5 was $165,000 in December, which is 7.4 percent below December 2009. Regionally, existing-home sales in the Northeast jumped 13.0 percent to an annual pace of 870,000 in December but are 5.4 percent below December 2009. The median price in the Northeast was $237,300, which is 1.4 percent below a year ago. Existing-home sales in the Midwest rose 11.0 percent in December to a level of 1.11 million but are 4.3 percent below a year ago. The median price in the Midwest was $139,700, up 3.3 percent from December 2009. In the South, existing-home sales increased 10.1 percent to an annual pace of 1.97 million in December but are 2.5 percent below December 2009. The median price in the South was $148,400, unchanged from a year ago. Existing-home sales in the West surged 16.7 percent to an annual level of 1.33 million in December but remain 1.5 percent below December 2009. The median price in the West was $204,000, down 5.6 percent from a year ago. The National Association of REALTORS, The Voice for Real Estate, is Americas largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries. Article Courtesy of: National Association of REALTORS

        H.R. 4853: Real Estate Provisions in the 2010 Tax Relief Bill

        On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (H.R. 4853) extending the Bush-era tax rates and a host of other expired and expiring provisions. The legislation is not "paid for," so there are no revenue raisers taken from real estate or other industry groups. The package provides temporary extensions of its numerous provisions. Some are retroactive, as well, so that the rules that had been in place previously will operate as if they had never expired. Included in the bill are provisions that affect real estate investment and operationssuch as energy-efficiency tax credits, capital gains, and more. A few key provisions of interest to REALTORS include:
        • Retention of Bush-era tax brackets through the 2011 and 2012 tax years;
        • Retention of the capital gains tax rate of 15 percent for assets sold or disposed of during 2011 and 2012;
        • Reduction of payroll taxes for employees and self-employed individuals during 2011;
        • Extension of numerous energy efficiency credits through December 31, 2011, including: the Energy Efficient New Homes, Energy Efficient Existing Homes, and Energy Efficient Buildings credits.
        For more detailed information on the provisions of this bill affecting real estate, home owners, and REALTORS as small business owners, please see the see the full summary. Article Courtesy of National Association of REALTORS