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Warren Group: Massachusetts housing market as ‘turned the corner’ | Bedford Hills Realtor

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In another sign that the housing market may be on the mend, the median sale price of single-family homes in Massachusetts rose more than 12 percent in December to $300,000, the first time since August that median home prices have broken the $300,000 mark, the Warren Group said Thursday.

Looking at the entire year, the Warren Group added that single-family home sales in Massachusetts rose 18 percent in 2012, marking 12 consecutive months of year-over-year sales gains and the best year on record since 2006.

“I would characterize 2012 as the year of robust recovery in the real estate market,” Warren Group chief executive Timothy M. Warren Jr. said in a statement. “It is clear we have turned the corner and are gaining ground rapidly. I contrast the 18 percent gain last year with the decline of 6 percent in 2011.”

As for condo sales in December, they rose 5.4 percent to 1,402 units. The median condo price in December rose 8 percent to $275,000, the Warren Group said.

 

For 2012, condo sales were up more than 25 percent to 19,061 units.

The Massachusetts Association of Realtors issued a separate monthly report Thursday on the local housing market. The association uses a slightly different method to track real estate activity than the Warren Group does.

According to the association’s press release, 3,737 detached single-family homes sold in December, a 13 percent increase from the previous December. December 2012 was the 18th straight month of year-over-year increases.

The median selling price for single-family home in December was $303,500, which was up 10.4 percent from the price in December 2011.

In the Bay State, there were 1,434 condominiums sold this December, a 14.2 percent increase from the same time last year.

The median selling price for condominium in December was $282,750, which was up 8.7 percent from December 2011.

“December capped off a very active year in 2012 as the real estate market in Massachusetts made significant progress towards recovery,” association president Kimberly Allard-Moccia said in a statement. “With the ‘fiscal cliff’ averted for now and pending activity remaining strong, we anticipate a healthy start to 2013.”

Allard-Moccia suggested that there are some concerns about the short supply of homes on the market.

“2012 was the type of year the market needed to help it eventually recover,” said Allard-Moccia. “With inventory continuing to go down, we’re at risk for slipping back to where we were. A truly vibrant market has a good selection of homes at all price levels for all types of buyers.”

via bostonglobe.com

 

Top 10 Facts About Super Bowl Ads Online for 2013 | Bedford Hills Realtor

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Our friends at Unruly Media have some data to share for advertisers concerning the Super Bowl.  The video measurement company is releasing these stats in tandem with their 2013 Super Bowl Playbook, which we will also cover soon.  Last year, Super Bowl ads became bigger than ever, as Unruly reports a 129% increase in shares for Super Bowl ads in 2012 from 2011’s numbers.  But Unruly found some very interesting stats that might surprise you.  Like, for instance, did you know that that initial burst of views that happen before and after the Super Bowl isn’t nearly the bulk of an ad’s overall views?

Unruly’s Top 10 Facts You Should Know About Super Bowl Advertising

Here’s how Unruly breaks it down:

1. 129% increase of shares 2011-2012 year on year.

Perhaps buoyed by the success of VW’s “The Force” in the previous year, many companies got their act online and promoted their ads like they had never done before.

2. 75% of the Top 20 most shared ads were launched before the Super Bowl.

Yeah, there’s absolutely no reason to wait until the Super Bowl to show your ad anymore.  You’re paying a ton of money to get the thing on the Super Bowl and get those tens, possibly hundreds, of millions of people watching it.  But by promoting it early, you can build a lot of buzz for the ad and gets millions of people watching it even before the game.

3. The top 4 most shared ads also had teaser videos, and 7 of the top 10 used teasers.

The most memorable were the ones featuring Matthew Broderick, teasing a Ferris-Beuller’s-Day-Off-style ad for what would eventually be the Honda CR-V ad that got so much attention, and VW’s teaser featuring dogs singing the “Darth Vader theme,” which would eventually be their hybrid dog/Star Wars ad.  Teasers get people talking, speculating, and they generate a ton of views on their own.

4. VW’s teaser actually ended up getting shared more than the Super Bowl ad.

This one:

Beat this one:

Three times more shares, actually.  That’s amazing.

5. 55% of Super Bowl 2012 shares came after March 1.

You might say, well, that’s more time to share an ad.  True, true, but also consider that the tremendous interest leveraged from the Super Bowl has died down by then, so this stat is amazing.  It shows that if you make great, memorable content, it can play all year.

6. 92% of shares came from the top 20 Super Bowl ads.

What this means is that there is a lot of room for many brands to try to get a piece of this pie.  Brands should be using online more, especially since it’s free and promotion of great content can lead to tons of extra views.

7. Automotive was the most shared vertical of 2012, a 137.5% increase from 2011.

Brands like Honda, Chevrolet, and VW dominated this category.  This is another area where competing car companies could do better, because only a few brands dominate the landscape.

8. Speaking of which, VW is the most shared brand over the last 2 years.

In 2011, VW led Chrysler and Doritos by a large margin.  In 2012, VW edged out Chevrolet and Honda.

9. The top 10 Super Bowl ads of 2012 were on average 83 seconds long, up 31 seconds from 2011.

With online video, brands can tell a longer story, putting extra stuff they couldn’t fit into their Super Bowl ad, and people are more likely to watch the ad when it’s not the same, old 30-second ad they saw on TV.

10. VW’s “The Force” is the most shared Super Bowl ad and most shared ad of all time.

Unruly measured it at 5.57 million shares, with VW Passats increasing sales by 116%.

I’m looking forward to seeing what Unruly has found for advertisers in their playbook, and of course, what advertisers have in store for 2013.

via reelseo.com

Foreclosure Supply Plummeted in November | Bedford Hills NY Real Estate

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Completed foreclosures fell 23 percent in November compared to a year ago and the national foreclosure inventory declined 18 percent from November 2011, from 1.5 to 1.2 million properties as demand from investors kept local inventories low.

According to CoreLogic, there were 55,000 completed foreclosures in the U.S. in November 2012, down from 72,000 in November 2011, a year-over-year decrease of 23 percent. On a month-over-month basis, completed foreclosures fell from 59,000* in October 2012 to the current 55,000, a decrease of 6 percent.

Approximately 1.2 million homes, or 3.0 percent of all homes with a mortgage, were in the national foreclosure inventory as of November 2012 compared to 1.5 million, or 3.5 percent, in November 2011. Month-over-month, the national foreclosure inventory was down 3.5 percent from October 2012 to November 2012. Year-over-year, the foreclosure inventory was down 18 percent. The foreclosure inventory is the share of all mortgaged homes in any stage of the foreclosure process.

(See National Foreclosure and Shadow Inventories fell by a Total 500K in 2012).

“The continued fall in completed foreclosures is a positive supply-side contribution in many regions of the U.S.,” said Anand Nallathambi, president and CEO of CoreLogic. “We still have a long way to go to return to historic norms, but this trend is firmly in the right direction.”

Historically, foreclosures averaged 21,000 per month between 2000 and 2006. Since the financial crisis began in September 2008, there have been approximately 4.0 million completed foreclosures .

“The pace of completed foreclosures has significantly improved over a year ago as short sales gain popularity as a disposition method. Additionally, the inventory of foreclosed properties continues to decline while the housing market demonstrates an ongoing ability to absorb the distressed sales that result from completed foreclosures,” said Mark Fleming, chief economist for CoreLogic.

Highlights as of November 2012:

  • The five states with the highest number of completed foreclosures for the 12 months ending in November 2012 were: California (102,000), Florida (94,000), Michigan (75,000), Texas (58,000) and Georgia (52,000).These five states account for 50 percent of all completed foreclosures nationally.
  • The five states with the lowest number of completed foreclosures for the 12 months ending in November 2012 were: South Dakota (10), District of Columbia (62), Hawaii (415), North Dakota (491) and Maine (597).
  • The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were: Florida (10.4 percent), New Jersey (7.3 percent), New York (5.1 percent), Nevada (4.7 percent) and Illinois (4.7 percent).
  • The five states with the lowest foreclosure inventory as a percentage of all mortgaged homes were: Wyoming (0.4 percent), Alaska (0.7 percent), North Dakota (0.7 percent), Nebraska (0.8 percent) and South Dakota (1.0 percent).

*October data was revised. Revisions are standard, and to ensure accuracy CoreLogic incorporates newly released data to provide updated results.

via realestateeconomywatch.com