NO SURPRISE...Taxes as Usual in Hamilton

The group Enough Is Enough (EiE) recently presented the Hamilton Board of Selectmen (BoS)with an article the group sought to have placed on the warrant for the fall Special Town Meeting. Calling it a "Local Stimulus Package", EiE was seeking a non-binding advisory question be placed on the ballot for the next election which read:

"Shall the town of Hamilton place a cap of 0% increase on the total taxes assessed for residential property in the town for the fiscal year beginning July 1, 2010?"

The question applied only to residential property taxes, not commercial (which only represents about 3% of Hamilton's tax base) and was intended to apply to only the one year. It was to be non-binding, so in essence it would serve simply as a poll for how the voters felt about paying the same taxes next year as they paid this year...with no increase. Naturally, a 0% property tax increase could possibly require cuts in services or adjustment for service personnel (pay cuts). EiE's stated intent was to use this non-binding question as a springboard to discussions, both pro and con, that such an initiative would undoubtedly create.

This week, the BoS voted to deny placement of the article on the fall Special Town Meeting warrant.

It comes as no surprise that the BoS chose to deny EiE's request of a question asking if the taxpayers in our town would like some relief from the burden they currently bare for living in the town with the highest property tax rate on the North Shore.

I say "no surprise" because the Hamilton BoS has consistently supported every single override for at least the past 12 years. Collectively, the overrides since 1998 have cost the taxpayers of Hamilton more than $39 million.

With such a record of endorsement for higher taxes, why should we be surprised that they would choose not to allow an opposing viewpoint to be openly discussed and voted upon by the residents of our town.

As I said, I am not surprised. But I am disappointed...disappointed because they have chosen NOT, as is so often espoused by override proponents, to LET THE VOTERS DECIDE.

The BoS has stated that they are aware of how tough times are in our current economy. But I am not certain they are quite as aware as they could be about how this economy is affecting the residents of Hamilton. Most of our citizens have slid down the economic ladder. Those that used to go out to eat are now serving meatloaf at home. Lawn maintenance contracts have not been renewed and homeowners are weeding their own gardens and mowing their own yards. Needed repairs to homes are being put off. Vacations, if taken at all, are spent at home or at nearby campgrounds. Pay freezes, pay cuts and job losses are much more common in our town than I believe the BoS realize. And foreclosures and short sales are becoming a way of life...even here in cherished Hamilton. And yet when a chance presents itself for voters to inform them of their plight, the BoS chose to deny them that opportunity.

The BoS stated that among their reasons not to support the request to let the voters decide is that the issue is too complicated and that the voters will not understand what they may need to give up in terms of services. It was suggested that capping the residential tax levy would mean cutting up to $500k from our budget.

But that's simply not correct. It's "fuzzy math".

You see, EiE was not suggesting cutting the taxes collected by 2.5% - they were recommending "level funding" based on the previous tax year's budget. The BoS was wrong to suggest that not raising taxes by 2.5% = cutting the budget by 2.5% (which is where they came up with the $500k). It does not. And EiE was remiss in not pointing that fact out. In fact, the only cuts that consistently are made every single year when the 2.5% formula is applied is a cut to the taxpayers' paychecks. Every tax is a cut in pay.

Most importantly, however, the BoS chose to ignore a rare opportunity to be innovative leaders during this dramatic economic decline...an opportunity to embrace a concept that is far removed from the "business as usual" budgets that rely on 2.5% MORE in taxes every year, year in and year out, regardless of the economy, and overrides to make up any anticipated shortfalls. They may have lost an opportunity for town-wide dialogue and discussion of an issue of critical importance to those they represent. And by the way, no one asked them to ENDORSE or RECOMMEND the question...just simply allow it to be placed on the warrant so that they can actually HEAR what residents are saying and thinking and FEEL what they are going through.

For so many residents, things are far worse than the BoS realizes. But unlike their willingness to support proposals that INCREASE our tax burden, they now are showing an unwillingness to support a question designed to suggest a LESSENING of our tax burden.

No surprise...

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On a positve note...At the same meeting the BoS voted to place an article on the warrant that would allow for secret (or private) balloting at Town Meetings when 25% of the registered voters present seek such a motion. The article also calls for private balloting for override motions requiring the appropriation of more than $250,000

Below are some other Massachusetts towns that have made similar changes to their bylaws regarding Town Meetings.

Any percentage is the number of registered voters needed to allow for a secret ballot at Town Meeting. Some towns just use a number of voters and some towns require automatic Secret Balloting on motions requiring large expenditures.

Essex = 20%

Andover = 25%

North Andover = 25%

Middleton = 25%

Wakefield = 25%

North Reading = 25 voters

Easton = 29 voters

Mendon = 10 voters

Stoneham = 25 voters

Wrentham = Automatic Secret Ballot on all issues of capital projects over $2 million

Berkley = Automatic Secret Ballot on all issues over $500k

Manchester = Automatic Secret Ballot on all issues over $250k



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Reminder...Town Meeting in Hamilton is Saturday, October 17th

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Secret Balloting in Hamilton?

The following article appeared recently in the Salem News:

Group wants ability to vote in secret at Town Meeting

By Steve LandwehrSTAFF WRITER
August 12, 2009 09:15 am—

HAMILTON — At their best, they are freewheeling wrangles over the public will, where the high and mighty and the low and powerless each have just one vote. At their worst, town meetings dissolve into name-calling, booing and other displays of boorishness before moderators restore order.

What if some people fear the latter more than they welcome the former, and claim to be uncomfortable expressing an opinion in such a forum, unwilling even to raise their hands or voices "yay" or "nay"?

They should be able to vote in secret, a group of Hamilton activists is proposing.

Members of Enough is Enough, a grass-roots group that has been lobbying for "fiscal responsibility" since 2007, have asked selectmen to place a question on the Special Town Meeting warrant this fall that would set a threshold for a secret ballot at future meetings.
Presently, town bylaws don't address secret ballots, meaning they are Moderator Bruce Ramsey's call. Ramsey said he asks that anyone who wants a secret ballot to say so before discussion of an article begins. After that, he lets a simple majority of those present make the decision.

Instead, proponents of the citizens' initiative want 20 percent of the voters at the meeting to make the call.

Ramsey can recall only one time when a secret ballot was employed in Hamilton. That was for a single-issue meeting called to decide the fate of new and renovated middle and high schools, when several thousand voters were expected. School operating budgets have been contentious in town for years. When a Proposition 2 1/2 override is called for to boost the budget, battle lines form quickly.

Opponents of the overrides have long claimed they are intimidated about appearing to be voting "against the children" if they speak up during a meeting. "I was actively booed at a town meeting," resident Betty Gray told the selectmen during their Monday night meeting. Others in the crowded room clamored in agreement.

While state law mandates some of the conduct at town meetings, individual towns decide whether secret ballots are allowed and how they can be called. Until two years ago, Middleton allowed a secret ballot if just five voters stood for it. Now, 25 percent of those present must favor it, and Town Administrator Ira Singer said the change seems to have dissuaded those who were routinely calling for it.

Undemocratic?

In Middleton, as in Hamilton, proponents of secret ballots claimed voters were intimidated by a public vote. But opponents say open discussion — and voting — is the very essence of democracy in this most basic of forms. "It's the nature of the system," Singer said. "There's nothing necessarily wrong with people having different opinions."

Hamilton Selectman Bill Bowler was vehement in his opposition to the citizens' initiative, on a number of levels. First, he's heard the arguments about reluctant participation, he said, but thinks they're overstated. Second, "Town Meeting is the legislative branch of town government," Bowler said. "Legislators vote in public." Finally, permitting 20 percent of the meeting to direct the actions of the other 80 percent would violate the very basis of Town Meeting, he said. "It's undemocratic," Bowler said, drawing rebuttal from Enough is Enough members.

"People are intimidated to vote on certain issues," Betty Gray said.

Selectman David Carey is of two minds about the proposal. He said that he wouldn't oppose "occasional" secret votes, because some people do feel intimidated. On the other hand, the point of the meeting is to gauge the community's support or opposition for the various items on the agenda. "Secret ballots don't do that," Carey said.

Ramsey's biggest concern is a rash of secret ballots that could bog down meetings and discourage attendance. If voters are so reluctant to speak and vote their minds, why not elect people to do it for them and adopt representative town government? In Hamilton, where the subject of merging with neighboring Wenham has consumed volumes of time over the years, dumping open Town Meeting would be a nonstarter, Bowler said.

"I think we'd merge the towns before we'd go to representative Town Meeting."

For an unquestionably fine and thoughtful

response to this Salem News article, go to:

http://unquestionablyquestionable.blogspot.com/2009/08/why-not-secret-ballot_15.html

Hamilton/Wenham Officials Close Doors to Public Input

The following is a Letter to the Editors of the Salem News and Hamilton/Wenham Chronicle:

Closed-door meetings, even if not secret, send the wrong message...

In an era when trust is a factor most of our citizens feel is lacking in town governance and the School Department, along comes a group of elected officials that still don't seem to get it.

Last week, members of the Budget Process Committee (BPC) decided to have a meeting that included one Hamilton selectman, one Wenham selectman, one School Committee member, one Hamilton FinCom member and the school superintendent. When three citizen members of Enough is Enough tried to attend, they were dismissed and told by the Hamilton selectman that "the meeting was not posted, and it was optional for those attending to allow the public to attend. I polled those who were attending, and the majority wanted it to be a working meeting without the public."

He went on to say, "As for why we felt it better to meet this way, it is not to hide things; but sometimes to advance all of our agendas and do the work, we need to be able to let our hair down. We all spoke bluntly and pointedly."

I don't know about you, but I want representatives who speak "bluntly and pointedly" and honestly at PUBLIC meetings, rather than in closed meetings where the public is not allowed or permitted to even listen. Additionally, the entire point of the BPC was to improve transparency and allow for citizen input.

Come on folks, a "working meeting without the public" is just another way of saying "closed-door meeting" or "secret meeting," both of which are completely unacceptable given the public's already justified lack of trust in the budget process. This is exactly the WRONG way of conducting town business and only serves to enhance taxpayer distrust.

What the heck happened to the "openness and transparency" we were promised after the spring town meetings?

Speaking of which, did you know that as part of their efforts at "openness and transparency," the School Department is now requiring citizens to file Freedom of Information forms and pay a fee for any request for information such as where, exactly, roughly $600,000 a year in maintenance line-item costs have actually been spent for each of the past three years?

It's true. And thus far, even that has not prevented the School Department from denying EiE's request for that simple information. We have been told twice now that what they will provide "will not be a specific detailed breakdown of the Maintenance Expense"; and, "Please be advised that the information that you have requested is not a matter of public record and, therefore, I cannot honor your specific request."

Not a matter of public record?! Are they serious? If they can't even tell us where they have spent nearly $2 million of our taxes earmarked for maintenance, it's no wonder they keep asking for more. The last we heard they were called PUBLIC schools, operating on taxes the PUBLIC pays. Don't we deserve some straight answers to simple questions? Why do you suppose they won't give us the answers we seek?

In both instances mentioned above, the message seems clear: "Sorry, we don't want you to know how we spend your tax dollars."

I'd probably be angry if I were not so astonished.

Jay Burnham, Moderator
Enough is Enough Steering Committee

http://www.enoughisenoughHW.org

Are Followers the Same as Friends?

Followers...Friends...Fans...It seems as though whatever blog or social networking site you are on, there is a different name for basically the same item. On Twitter, you have followers. On Facebook, you have friends or maybe fans. On LinkedIn...Well, you get the picture.

So do they all mean the same thing?

Sometimes, but not necessarily. Today's blog, however, is only devoted to explaining the benefits of becoming a "follower" of a blogger that you enjoy reading. You do not have to be a "friend" in the Facebook sense of the word to follow a blogger. You simply need to want to keep up to date with new posts by someone whose writing you enjoy reading.

There are several ways to become a follower of a blog. One of the easiest ways is to visit a blog that has added the "Following widget" and click on the "Follow" button. You will then have the option of following the blog publicly or privately. Select how you'd like to follow the blog, then click the "Follow this blog" button. It is that simple, you are now a follower of the blog!

The Following widget for my blog is at the left, at the top of the column. I have just posted it today and hope that you will consider following my blog which I promise will have interesting stories and articles on the real estate market in general, and the Massachusetts North Shore in particular, posted regularly.

Thank you for your consideration.

Very truly yours,

Jay Burnham

Hamilton, MA

Is There a Limit?

Do you have plans to buy a home soon? If so, has it occurred to you that some of the homes you inspect may be overpriced? They may be priced too high for the market.

How would you recognize that kind of situation? Should you assume that all houses are overpriced and make low offers on all of them until one is accepted?

Relax. There's a way to assure yourself of becoming a satisfied homeowner without taking the risk of paying too much. Consider for a moment how prices are set on the homes you will be seeing.

Some prices are arrived at by the owner's "guess-timation:, while others are decided only after thorough investigation of the present real estate market by knowledgable real estate agents. The latter involves careful study of homes for sale now as well as those which have sold recently. As a result, homes listed for sale with a highly successful real estate agent tend to be priced fairly up-front, from the very beginning.

Thus, by selecting your agent carefully, you can be assured of having a gnerous selection of homes from which to choose without having to worry about pricing. You'll be able to focus your concentration on features which fit your lifestyle and enjoy the process of choosing your next home...a satisfying experience.

Regards,

Jay Burnham

Hamilton, MA

End The Override Addiction in Hamilton & Wenham, MA

It is time to put an end to the Proposition 2 1/2 overrides in Hamilton and Wenham, Massachusetts. When Prop 2 1/2 was enacted in 1980 it had provisions to allow towns to pass overrides, but those overrides were intended for emergency purposes. Overrides were not intended to be used to subsidize school funding on an annual basis as has become the norm in our two towns. If override supporters in Hamilton and Wenham believe that "emergencies" have existed in our towns for 10 out of the past 11 years, then the answer lies with a broken system that obviously has not and can not be fixed by simply throwing more money at it.

Here's a little something that unfortunately many of our citizens do not realize: Each override is not one-time cost event. Each override is added to the basis of our tax cost and continues in effect year, after year after year. So we will be paying for last year's $1.8 mil override amount again this year and again in 2010 and 2011 and so on. We have been paying the $660k override passed in 1999 each year for 9 years now! That override alone has cost the taxpayers over $7 million.

And here's a FACT about ALL the overrides we have had to pay since 1998: The individual override amounts add up to $7,707,000. But hang on to your seats (and your wallets!) because compounded over the years, with the 2 1/2 % standard annual increase, and the real cost of those overrides has been whooping $39,518,000! Let me repeat that: $39,518,000!

If our national economy's meltdown has taught us anything, it's that we can not, and should not support a system that does not work. $39 million has not fixed the so-called "emergencies" in Hamilton and Wenham and another override certainly will not either. And did you know that we are the ONLY two towns in the Commonwealth with this kind of outrageous history of overrides? Just last year, out of 356 towns and cities in MA, only 102 sought override attempts...and two-thirds of those were rejected.

Residents must stop the override addiction in our two towns this year... By just saying NO! $39 million is enough! Help make a difference in 2009. Start on the local level.

Thank you,

Jay Burnham

Hamilton, MA

Coldwell Banker Residential Brokerage Ranks Number One On North Shore

The Beverly, Gloucester, Ipswich and Manchester Offices Catapult Coldwell Banker Residential Brokerage to the Number One Slot Regionally (North Shore, MA) in 2008.

WALTHAM, Mass. (January 23, 2009) – Coldwell Banker Residential Brokerage in New England is pleased to announce its ranking as the number one brokerage in total dollar volume and transaction sides for the combined towns of Beverly, Danvers, Essex, Gloucester, Hamilton, Ipswich, Manchester, Rockport and Wenham in 2008, according to the MLS Property Information Service. The success of the Coldwell Banker Residential Brokerage offices in Beverly, Gloucester, Ipswich and Manchester contributed to the company’s regional standing and total sales volume of more than $260 million in these towns.

Coldwell Banker Residential Brokerage is the largest residential real estate company in New England and has the dominant market share in Massachusetts and in New England*. The company’s Beverly, Gloucester, Ipswich and Manchester offices are home to a combined 137 real estate experts, specializing in residential re-sale, new construction, waterfront and luxury homes.

“Our ranking as the number one brokerage in this area is a testament to the hard work, dedication and high-quality service our sales associates provide,” said Rick Loughlin, president of Coldwell Banker Residential Brokerage in New England. “In any market, success can be achieved with the necessary resources and tools. Coldwell Banker Residential Brokerage remains committed to supporting our sales associates with innovative tools, expert knowledge and varied resources to best serve their clients.”

The managers of these offices, Linda Morey, Alyson O’Hara, Katharine Pickering and Joan Wogan strongly believe that their sales associates’ expertise and local market knowledge along with Coldwell Banker’s national and international presence provide the best possible experience in the buying and selling process.

[* Source: MLS Property Information Network]

Coldwell Banker Residential Brokerage is the largest residential real estate brokerage company in New England. With more than 4,000 sales associates and staff in more than 90 office locations, the organization serves consumers in Massachusetts, Rhode Island, New Hampshire and Maine. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest residential real estate brokerage company.



Congratulations to all my colleagues and friends at Coldwell Banker, North Shore! Another great year as number one!

...Jay Burnham, VP

Coldwell Banker Agent Attends CyberStar Summit Conference

Jay Burnham, VP of Coldwell Banker Residential Brokerage in Beverly, MA, recently attended the 3-day CyberStar® National Conference in Scottsdale, AZ.

The CyberStars® is an invitation-only group of 200 top real estate agents from the US, Canada, Australia and the Bahamas, chosen for their ability to meet the needs of today’s consumers through the use of technology and personal service. Jay Burnham is one of only five agents selected for membership from Massachusetts and he is the only CyberStar® from the North Shore region.

The annual CyberStar® Summit brings together top agents for a 3 day event where technology focused real estate professionals present, share and network with one other. The meeting’s purpose is to enable CyberStar® members to provide ever-improved customer service to their buyers and sellers. Summit participants were exposed to the newest and most effective cutting-edge technology tools.

The CyberStars® have successfully marketed homes in the midst of what is considered the most difficult real estate market ever experienced. Burnham sees his CyberStar® membership as an important part of his success. “I am honored to be part of such a wonderfully helpful and sharing group of real estate professionals. Our networking activities keep me up to date on the best ways to help my sellers and buyers, an advantage not available to other agents”, said Burnham. “I returned from Scottsdale with a renewed enthusiasm and with unique technological tools and systems I can use to elevate my level of service.”

For more information about Burnham or his team, call 978-233-2828, send an email to jay@northshorerealestate.com or visit his website at http://www.northshorerealestate.com/.

Introducing REMV...Not heard of it yet?...You will.

REMV, or Real Estate Music Video, is the newest and hottest way of video marketing homes. Like the music videos you see on TV and Youtube, this application can range from hard-hitting impact marketing to soft (think James Taylor) and smooth video marketing.

To give you an idea of what an REMV can look like, here's a sample:

http://www.youtube.com/watch?v=spj8xa9lIGA&fmt=18

If you think this marketing application is cool, you should see what you can do with a single property REMV. A key component to creating this kind of video is looking at your photography in a different way. It's no longer just about posting pictures and adding a soundtrack, it's about telling a story and creating a sequence of photos that take the viewer on a ride complete with images of the area as well as the individual property.

Best regards,

Jay Burnham, VP
Coldwell Banker Residential Brokerage
Direct: 978.233.2828
Text: 978.578.5590

is in Dallas. Anyone want to trade places? It's about 80 degrees here.

is headed back to Boston from Phoenix and will miss being able to dine outside. Anyone know the current temp in Boston?

has wrapped up the final day of the CyberStar Real Estate Summit. Now for some R&R and Italian food w/my fellow C'Stars!

"It's not the strongest of species that survives, nor the most intelligent, but the one most responsive to change"...Charles Darwin

wants to thank CyberStars Alan Mah and Mike Parker for a great educational morning session at the this year's Summit.

is attending day-two of the annual CyberStar RE Summit conference in Scottsdale. The brightest, most innovative minds in the industry are here.

The Complete 2008 North Shore MA Real Estate Update

Hot off the "Actual Statistics" press, it is now time for my Complete 2008 Report of how the real estate market fared in my area of the country - the Massachusetts North Shore, north of Boston. The area of observation consists of 22 towns on the North Shore and considers only SINGLE FAMILY homes for comparison.

So how did we do in December and thus far this year? In December, 145 single family homes came on the market on the North Shore and 148 homes went under contract. That marks the first time in 12 months that more homes SOLD in a single month than came on the market. Unfortunately, this is proving to be common for the month of December as last year and the year before we experienced the same occurence in December and it is likely a result of sellers taking their homes off the market for the holidays or waiting until the new year to place their homes on the market.

Except for December, every month in 2008 showed more homes coming ON than going OFF the market. In January, that difference was +150, in February, +188; in March, +226; in April, +262; in May, +199, in June +175, in July +148, in August +99, in September +167, in October +113 and in November +40.

That's 1,767 more homes that came on vs. went off during the year 2008.

At first glance, this seems like good news because in 2007, 2,146 more homes came on vs. went off the market. So 2008 showed a drop of almost 18% in the delta. Unfortunately, upon closer examination we see that the overall number of new listings for 2008 was down by 847, or nearly 17% less than in 2007. Likewise, the number of Under Agreements for 2008 were down 468, or about 16% over 2007. So overall, 2008 was nearly identical to 2007.

So, what does this mean in general for our market area?

It means that we will likely continue to remain in a DEPRECIATING market and will continue to remain there until this trend reverses...but there is "light in the tunnel"...it's just faint.

Here's a recap of the previous 12 months:

In December, 145 single family homes came on the market on the North shore and 148 homes went under contract.

In November, 190 single family homes came on the market on the North shore and 150 homes went under contract.

In October, 308 single family homes came on the market on the North Shore and 195 homes went under contract.

In September, 374 single family homes came on the market on the North Shore and 207 homes went under contract.

In August, 317 single family homes came on the market on the North Shore and 218 homes went under contract.

In July, 374 single family homes came on the market on the North Shore and 226 homes went under contract.

In June, 444 single family homes came on the market on the North Shore and 269 homes went under contract.

In May, 497 single family homes came on the market on the North Shore and 298 homes went under contract.

In April, 518 single family homes came on the market in the North shore and 256 homes went under contract.

In March, 454 single family homes came on the market on the North Shore and 225 homes went under contract.

In February, 357 single family homes came on the market on the North Shore and 169 homes went under contract.

In January, 313 single family homes came on the market on the North Shore and 163 single family homes went under contract.

The solution? Sellers need to continue to price their homes ahead of the declining price curve. As noted above, many homes are selling, but they are the ones that are priced properly and AHEAD of the declining value curve.

I will continue to provide updates throughout the year and we'll take a look and see if the market is changing or if we can expect more of the same for a while.

Regards,

Jay Burnham, VP
Coldwell Banker Residential Brokerage
North Shore, Massachusetts

http://www.thecoldwellbankerguy.com/

March Market Update: Massachusetts North Shore Housing Trends

In January of 2007, I wrote a blog entitled "Knowing Exactly When the Market will Change" that received many comments, replies and supportive feedback. In that blog, I stated that it is my belief that as soon as we have 3 consecutive months when more inventory is going off (under contract) than is coming on (new listings) we can once again expect to experience an appreciating market.

Hot off the "Actual Statistics" press, it is now time for my March update (February 2008 statistics) of how the real estate market is faring in my area of the country - the Massachusetts North Shore, north of Boston. The area of observation consists of 22 towns on the North Shore and considers only SINGLE FAMILY homes for comparison purposes.

So how did we do in February and thus far this year? This February, 357 single family homes came on the market on the North Shore and 169 homes went under contract. Once again more listings came on than went off the market: +188 during the month of February. In January, that difference was +150 for a total of +338 so far in 2008.

So, what does this mean in general for our market area?

It means that we remain in a DEPRECIATING market and will remain there until this trend reverses. The message: Real estate values will continue to decline until this trend reverses.

Part of the solution? Sellers need to recognize that it is no longer 2005 or 2006 or even 2007 and price their homes ahead of the declining price curve. As you can see, many homes are still selling, but they are the ones that are priced properly and AHEAD of the declining value curve. I will provide another update again in the beginning of April (for the month of March) and we'll take a look and see if the market is changing or if we can expect more of the same for a while.

Regards,
Jay Burnham, VP
Coldwell Banker Residential Brokerage
North Shore, Massachusetts

2007 - The Complete Month-to-Month Market Update

In January, 2007, I wrote a blog entitled "Knowing Exactly When the Market will Change" that received many comments, replies and supportive feedback. In that blog, I stated that I felt that as soon as we have 3 consecutive months when more inventory is going off (under contract) than is coming on (new listings) we can expect to once again experience an appreciating market.

Hot off the "Actual Statistics" press, it is now time for my January update (December, 2007 statistics) of how the real estate market is faring in my area of the country - the Massachusetts North Shore, north of Boston. The area of observation consists of 22 towns on the North Shore and considers only SINGLE FAMILY homes for comparison.

So how did we do in December and thus far this year? In December, 127 single family homes came on the market on the North Shore and 143 homes went under contract. That marks the first time in 12 months that more homes SOLD in a single month than came on the market. Unfortunately, this is proving to be common for the month of December as last December we experienced the same occurence and is likely a result of sellers taking their homes off the market for the holidays or waiting until the new year to place their homes on the market.

Except for December, every month in 2007 showed more homes coming ON than going OFF the market. In January, that difference was +195, in February, +135; in March, +287; in April, +288; in May, +315, in June +255, in July +129, in August +142, in September +236, in October +130 and in November +50.

That's 2,143 more homes that came on vs. went off during the year 2007.

So, what does this mean in general for our market area? It means that we continue to remain in a DEPRECIATING market and will remain there until this trend reverses.Here's a recap of the previous 11 months:

In November, 247 single family homes came on the market on the North shore and 197 homes went under contract.

In October, 375 single family homes came on the market on the North Shore and 245 homes went under contract.

In September, 463 single family homes came on the market on the North Shore and 227 homes went under contract.

In August, 405 single family homes came on the market on the North Shore and 259 homes went under contract.

In July, 442 single family homes came on the market on the North Shore and 313 homes went under contract.

In June, 554 single family homes came on the market on the North Shore and 299 homes went under contract.

In May, 655 single family homes came on the market on the North Shore and 340 homes went under contract.

In April, 550 single family homes came on the market in the North shore and 262 homes went under contract.

In March, 543 single family homes came on the market on the North Shore and 256 homes went under contract.

In February, 377 single family homes came on the market on the North Shore and 242 homes went under contract.

In January, 404 single family homes came on the market on the North Shore and 209 single family homes went under contract.

The message: Real estate values will continue to decline until this trend reverses.

Part of the solution? Sellers need to recognize that it is no longer 2005 and price their homes ahead of the declining price curve. As you can see, many homes are selling, but they are the ones that are priced properly and AHEAD of the declining value curve.

I will provide another update again in the beginning of February (for the month of January, 2008) and we'll take a look and see if the market is changing or if we can expect more of the same for a while.

Regards, Jay Burnham, VP

Coldwell Banker Residential Brokerage

North Shore, Massachusetts
http://www.thecoldwellbankerguy.com/

The December Market Update for Massachusetts

In January, I wrote a blog entitled "Knowing Exactly When the Market will Change" that received many comments, replies and supportive feedback. In that blog, I stated that I felt that as soon as we have 3 consecutive months when more inventory is going off (under contract) than is coming on (new listings) we can expect to once again experience an appreciating market.

Hot off the "Actual Statistics" press, it is now time for my December update (November statistics) of how the real estate market is faring in my area of the country - the Massachusetts North Shore, north of Boston. The area of observation consists of 22 towns on the North Shore and considers only SINGLE FAMILY homes for comparison.

So how did we do in November and thus far this year? In November, 247 single family homes came on the market on the North Shore and 197 homes went under contract. That's means that many more homes came on the market than went off - marking the eleventh month in a row that more listings came on than went off the market: +50 more during the month of November.

In January, that difference was +195, in February, +135; in March, +287; in April, +288; in May, +315, in June +255, in July +129, in August +142, in September +236 and in October +130.

That's 2,159 more homes that came on vs. going off since the beginning of the year:

So, what does this mean in general for our market area? It means that we continue to remain in a DEPRECIATING market and will remain there until this trend reverses.

Here's a recap of the previous nine months:

In September, 463 single family homes came on the market on the North Shore and 227 homes went under contract.

In August, 405 single family homes came on the market on the North Shore and 259 homes went under contract.

In July, 442 single family homes came on the market on the North Shore and 313 homes went under contract.

In June, 554 single family homes came on the market on the North Shore and 299 homes went under contract.

In May, 655 single family homes came on the market on the North Shore and 340 homes went under contract.

In April, 550 single family homes came on the market in the North shore and 262 homes went under contract.

In March, 543 single family homes came on the market on the North Shore and 256 homes went under contract.

In February, 377 single family homes came on the market on the North Shore and 242 homes went under contract.

In January, 404 single family homes came on the market on the North Shore and 209 single family homes went under contract (off market).

The message: Real estate values will continue to decline until this trend reverses.


Part of the solution? Sellers need to recognize that it is no longer 2005 and price their homes ahead of the declining price curve. As you can see, many homes are selling, but they are the ones that are priced properly and AHEAD of the declining value curve.


I will provide another update again in the beginning of January (for the month of December) and we'll take a look and see if the market is changing or if we can expect more of the same for a while.

Regards, Jay Burnham, VP
Coldwell Banker Residential Brokerage
North Shore, Massachusetts

November's Massachusetts North Shore Market Update

In January, I wrote a blog entitled "Knowing Exactly When the Market will Change" that received many comments, replies and supportive feedback. In that blog, I stated that as soon as we have 3 consecutive months when more inventory is going off (under contract) than is coming on (new listings) we can expect to once again experience an appreciating market.

Hot off the "Actual Statistics" press, it is now time for my November update (October statistics) of how the real estate market is faring in my area of the country - the Massachusetts North Shore, north of Boston.

The area of observation consists of 22 towns on the North Shore and considers only SINGLE FAMILY homes for comparison.So how did we do in October and thus far this year?

In October, 375 single family homes came on the market on the North Shore and 245 homes went under contract.

That's means that many more homes came on the market than went off - marking the tenth month in a row that more listings came on than went off the market: +130 more during the month of October. In January, that difference was +195; in February, +135; in March, +287; in April, +288; in May, +315, in June +255, in July +129, in August +142 and in September +236. That's 2,109 more homes that came on vs. going off since the beginning of the year.

So, what does this mean in general for our market area? It means that we continue to remain in a DEPRECIATING market and will remain there until this trend reverses.

Here's a recap of the previous six months:

In September, 463 single family homes came on the market on the North Shore and 227 homes went under contract.

In August, 405 single family homes came on the market on the North Shore and 259 homes went under contract.

In July, 442 single family homes came on the market on the North Shore and 313 homes went under contract.

In June, 554 single family homes came on the market on the North Shore and 299 homes went under contract.

In May, 655 single family homes came on the market on the North Shore and 340 homes went under contract.

In April, 550 single family homes came on the market in the North shore and 262 homes went under contract.

In March, 543 single family homes came on the market on the North Shore and 256 homes went under contract.

In February, 377 single family homes came on the market on the North Shore and 242 homes went under contract.

In January, 404 single family homes came on the market on the North Shore and 209 single family homes went under contract (off market).

The message: Real estate values will continue to decline until this trend reverses. Part of the solution? Sellers need to recognize that it is no longer 2005 and price their homes ahead of the declining price curve. As you can see, many homes are selling, but they are the ones that are priced properly and AHEAD of the declining value curve.

I will provide another update again in the beginning of December (for the month of November) and we'll take a look and see if the market is changing or if we can expect more of the same for a while.

Regards,

Jay Burnham, VP
Coldwell Banker Residential Brokerage
North Shore, Massachusetts