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THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS
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County close-up: Berkshire Spotlight: Sandisfield
IN PERSON
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Kevin Trainor first got into property management to solve a personal problem. He had been living at a condominium complex whose management neglected the building. Trainor not only wanted to see improved conditions but believed that with his background in finance and construction, he could do a better job.
WEEK OF MONDAY, APRIL 15, 2019
RESIDENTIAL REAL ESTATE BY THE NUMBERS
1.5 percent The price of Boston condos put under agreement in the first quarter of 2019 fell by 1.5 percent. See Scott Van Voorhis’ column on page 10. Source: David Bates, William Raveis broker associate
671
MORTGAGE COMPETITION
LOCAL LENDERS DON’T FEAR ZILLOW
The number of housing units in Sandisfield. See the Town Spotlight in By the Numbers on page 6. Source: U.S. Census Bureau
$750 million The volume of sales overseen by the top Coldwell Banker agent in New England. See Week on the Web on page 2. Source: Coldwell Banker
62.67 acres The size of the top property in this week’s Gossip Report, a Dennis estate with two houses, a furnished antique barn and three potential building sites. See page 9. Source: Public records
5,000 The number of homes per month Zillow hopes to sell through its site with tools like Zillow Home Loans. See Bram Berkowitz’s story on this page. Source: Zillow
14 percent The share of January condominium sales in Boston that saw a bidding war, down from 53 percent. See Scott Van Voorhis’ column on page 10. Source: Redfin
187,000 The number of affordable units needed to meet demand in the Boston area. See Georgia Katsoulomitis’s column on page 5. Source: The Federal Reserve Bank of Boston
WITH ZILLOW HOME LOANS, A GIANT WADES INTO THE MORTGAGE BUSINESS
BY BRAM BERKOWITZ BANKER & TRADESMAN STAFF
Z
illow announced earlier this month that it has officially become a mortgage lender, a move which some fear could transform its platform into a competitor for established mortgage lenders who use Zillow for marketing and advertising. But while the online real estate giant’s foray into mortgage lending might seem scary initially, it is unlikely to have too much of a detrimental impact on local, more personalized lenders. That’s according to experts who say the lead generation model Zillow operates on is not one that many local lenders rely on or find effective at drumming up business. Continued on Page 9
DEVICE DILEMMA
COMMERCIAL INTERESTS
Mortgage Market Share Module,
Emerging Technology, Untested Liability
Stock Market Troubles and Recession Fears More Likely to Blame
Loan Originator Module, Statistics
By Steve Adams | Banker & Tradesman Staff
By Scott Van Voorhis | Banker & Tradesman Columnist
Unless otherwise noted, all data is sourced from The Warren Group’s
Can Apartments Be Both New Supply Not Driving Smart and Secure? Condo Market Cool-Off
Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.
Commercial Real Estate PAGE 7
Commercial Real Estate PAGE 10