Banker & Tradesman: Jan. 20, 2019

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MONTHLY TRANSFER DIRECTORY REPORTS

Call 617.896.5388 or email datasolutions@thewarrengroup.com

THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS

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County close-up: Dukes and Nantucket Spotlight: Aquinnah

In an age of retail turmoil, developers no longer have the luxury of setting aside ground-floor space and waiting for tenants to line up. Architect Deniz Ferendeci is part of a team that provides landlords with comprehensive design, market research and leasing services for their retail space.

IN PERSON

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WEEK OF MONDAY, JANUARY 20, 2020

RESIDENTIAL REAL ESTATE BY THE NUMBERS

5 MLS services face five major challenges. See Dan Marra’s story on page 10. Source: MLS Roundtable

2 The Massachusetts Association of Realtors opposes a 2 percent real estate transfer tax. See Kurt Thompson’s column on page 5. Source: Massachusetts Association of Realtors

$400,000 The statewide median single-family sale price hit $400,000 this year. See Diane McLaughlin’s story on this page. Source: The Warren Group’s Statistics Module

2017 Concerns about the future of MLS systems were raised as early as 2017. See Dan Marra’s story on page 10. Source: MLS Roundtable

MILLENNIAL MORTGAGES

AS PRICES RISE, BUYERS SEEK

DOWN PAYMENT HELP

Programs Expand to Meet Need Among Millennial Buyers BY DIANE MCLAUGHLIN BANKER & TRADESMAN STAFF

$792,000 The median single-family home sale price on Martha’s Vineyard, through November 2019. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module

5 Columnist Bernice Ross offers five tips for avoiding fair housing violations in your brokerage. See her column on page 4. Source: Bernice Ross

567 Aquinnah has 404 residents and 567 homes. See the Town Spotlight in By the Numbers on page 6. Source: U.S. Census Bureau

$1.55 million The median single-family home sale price on Nantucket, through November 2019. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module

Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.

T

he unexpected drop in interest rates that drove mortgage activity in 2019 could continue in 2020, setting lenders up for a strong purchase market this spring even as the state’s median single-family home sale price hit $400,000 and the median condominium sale price hit $380,000 at the end of last year according to The Warren Group, publisher of Banker & Tradesman. Despite rising home prices and lagging wage growth, lenders can count on Millennials to be among the borrowers, with more and more becoming first-time homebuyers. “They had a different view of the American dream – When do you buy a house? Do you buy a house?” said David Lazowski, senior vice president for the New England region at Fairway Independent Mortgage Corp. “Now we’re seeing that generation decide they want to own homes.” Continued on Page 9

SINGLE-FAMILY MORTGAGE VOLUME BY TYPE

2014 2015 2016 2017 2018 2019

FHA VA

$1,180 $1,916 $2,260 $2,570 $2,132 $2,431 $233 $411 $592 $718 $677 $730

• Millions of dollars • Conforming purchase loans • Source: The Warren Group

CONDO MORTGAGE VOLUME BY TYPE

2014 2015 2016 2017 2018 2019

FHA

$52 $61 $82 $145 $99 $122

VA

$191 $22 $34 $51 $46 $60

• Millions of dollars • Conforming purchase loans • Source: The Warren Group

MEDIAN STATEWIDE SALE PRICES

2014 2015 2016 2017 2018 2019

SINGLE-FAMILY

$331,750 $340,000 $348,000 $365,000 $385,000 $400,000

CONDOMINIUM

$310,000 $317,000 $329,500 $341,000 $365,000 $380,000

• Source: The Warren Group

COMMERCIAL INTERESTS

CHANGING CHARLESTOWN

Business Leaders Should Reject Politicians’ Calls to “Step Up” and Pay for Housing

Taps into I-93 North Growth Spurt

By Scott Van Voorhis | Banker & Tradesman Columnist

By Steve Adams | Banker & Tradesman Staff

Don’t Pay the Stickup Artists Hood Park Is Ready to Fix Their Problems for its Next Act

Commercial Real Estate PAGE 3

Commercial Real Estate PAGE 7


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