I just receive this email mortgage update from Chris Smith, president of Capstone Mortgage and thought I would pass it along as I found the content relevant and interesting.

Real Estate Headlines Hurry Up and Close to Get the Homebuyer Tax Credit Be proactive and prepare for the unexpected. The next few weeks are crucial for homebuyers who need to close on a house before the end of June to claim the federal homebuyer tax credit. Here are tips to make sure you get to the closing table on time. Market Watch (5/31/10) Facts & Figures U.S. Average Weekly Mortgage Rates (1 Year) Source: mortgagenewsdaily.com Economy Growing Slowly but Steadily Recent data suggest that the recovery is more broad-based and self-sustaining, and perhaps even stronger than anticipated. Washington Post (6/5/10) Real Estate Outlook: Sales Promising Consumers have growing confidence in the economy and their own incomes. Homebuyers no longer fear further price declines – and that's a crucial turning point in the cycle.  Yahoo Real Estate (5/31/10) Building a Home Is a Bargain These Days  Builders, designers, and architects say now is a great time to build a new custom home or remodel an existing one. Investor’s Business Daily (05/27/10)

Anyone have an interest in collaborating on the MyAgentBook site?  Perhaps partnering with another related site? 

Well, everything goes in cycles, what goes down must come up…..

There have been signs of a bounce back in the housing market in the Metro West area of Boston for quite awhile but the most recent activity is virtually unmistakable.  Last week in Lexington, several new single family listings hit the market with a BANG!  Last weekend was a weekend of multiple offers.  WOW!  On one new listing there were 13 offers!

There is no doubt that any buyer that is standing on the sidelines waiting for the market to “hit bottom” or who may be looking for a bargain, it is starting to become very clear that that time has passed.  If you are hoping to buy in the near future, therefore, it is time to get going and get prepared.  Be ready to act quickly and aggressively in this housing market.

Start your search!  Be ready to hop right in when the “right” house presents itself to you.  If a competitive situation presents itself you will have to act decisively.  Put your best offer in right away…..Highest with the most favorable terms to the seller.  Keep in mind you will likely have to go over the asking price!  Good Luck!  Here are recent statistics from the MLS pin system for Lexington and the surrounding towns as of 2/16/2010:

Lexington

Single Family Listings: 105     Average List Price: $1,248,609     Average Market Time: 166.09

Bedford

Single Family Listings: 24     Average List Price: $668,174     Average Market Time: 81.83

Concord

Single Family Listings: 65     Average List Price: $1,401,248     Average Market Time: 151.34

Winchester

Single Family Listings: 57     Average List Price: $1,226,158     Average Market Time: 175.82

Arlington

 Single Family Listings: 38     Average List Price: $586,167     Average Market Time: 139.05

I received this invite to a webinar this Thursday which looks great!  Whether you are interested in investing yourself or working with client investors- it really should be informative!