What??! Boston Area Real Estate “fairly valued”??
November 21st, 2007
SmartMoney Magazine reports in the December 2007 issue that Massachusetts real estate is considered “fairly valued”.
They compared local housing prices with other factors, including household income, population density, and interest rates.
Generally, when home prices and incomes grow in tandem in a particular metro area, that market is probably fairly valued; when home prices rise much faster, the market becomes overvalued and a real estate slump is a real danger.
Link to Smartmoney Stats: http://www.smartmoney.com/mag/download/december2007housing.xls
Link to SmartMoney Magazine Article:
http://www.smartmoney.com/mag/index.cfm?story=december2007-housing
Here are the stats that the article reports:
Worcester MA Median Price of $244,300;
10% overvalued; -3% home price chg 06-07
Springfield MA Median Price of $214,100;
10% overvalued; 1% home price chg 06-07
Essex County MA Median Price of $333,800;
6% overvalued; -3% home price chg 06-07
Boston-Quincy Median Price of $345,100;
2% undervalued; -3% home price chg 06-07
Cambridge-Framingham MP of $$379,500;
5% undervalued; -2% home price chg 06-07
All of these areas fall within the study’s classification of “fairly valued”. For all you people who are wondering where NOT to go buy a home because it is “extremely overvalued”, stay away from Miami, California, and Honolulu. They recommend the “undervalued” markets of Dallas, Rochester NY, and Tulsa.
Categories: Ashland, Framingham, Holliston, Hopkinton, Milford, Natick, Real Estate
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Natick Food Pantry’s newest Volunteer
November 21st, 2007
Natick, MA has a food pantry located on Hartford Ave that is a great source for the people in Metrowest. I have had the pleasure of volunteering there several years ago while living in Natick, and now I make it there for an annual event for Thanksgiving.
This year I brought Lara, my 3 year old, with me for the food pickup. We had a great time and would recommend a family event like this for your family. Our job was to take the official “Place to Turn” van over to a distribution terminal in Foxborough, MA. There were many families there to pack up truck after truck with food boxes collected from various sources. It actually did not take any work because there were so many families there to load up the van.
15 minutes later we were on the road back to Natick.The food collected was given out in boxes to referred families to the food pantry. The volunteers seperated out the food and gave them out for Thanksgiving. Everyone has a big meal on Turkey Day!
Wishing you and your family a Happy Thanksgiving.
Categories: Events in Community, Natick
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