The KCM Team
Many of our readers have asked whether or not we believe the Mortgage Forgiveness Debt Relief Act of 2007will be extended past its current expiration scheduled for the end of the year. As a reminder, the legislation ensures that homeowners who received principal reductions or other forms of debt forgiveness on their primary residences do not have to pay taxes on the amount forgiven.
Your Market Data for: Westport - May 2012 - Your real estate information source.
Single Family Homes $800,273
Condos/Townhousmes $331,876
Multi-family Homes $453,100
Single Family Homes 186
Condos/Townhomes 290
Multi Family Homes 225
Whether you celebrate Cinco de Mayo, Mother's Day or just are happy for the long weekend this month, to many people May means that summer is just around the corner. After all, it is the last full month of Spring. Summer comes next month. May is named after Maia, the eldest of the Pleiades, the seven daughters of Atlas and Pleione in Greek mythology. She was also the mother of Hermes. The birth flower for May is Lily of the Valley or the Hawthorn. The modern birthstone is Emerald (patience, understanding and foresight) and the traditional birthstone is Chrysoprase (secrecy and fertility).
Posted: 01 May 2012 04:00 AM PDT
Every day there seems to be more positive news about the real estate recovery. We attempt to give you two things in this blog:
1. The actual data that indicates where the housing market is headed
2. Quotes from analysts who have scrutinized this data
Today, we want to give you a quote by Ivy Zelman which appeared last week in a Wall Street Journal article Stunned Home Buyers Find the Bidding Wars Are Back.
“We very much believe we’ve hit bottom.”
Why is the quote from Zelman important? She is an industry expert consistently recognized by Institutional Investor, Greenwich Associates, StarMine and The Wall Street Journal as an industry-leading analyst. She has been nicknamed ‘Poison Ivy’ for her harsh positions on housing over the last several years. Now, Zelman is calling a bottom and projecting prices to moderately increase in the next twelve months.
Again, another expert on housing is calling a bottom; another bear turns bull.
The KCM Team
Noemi CardosoRE/MAX Welcome HomeServing Westport, Dartmouth, Fall River MALittle Compton, Tiverton RI and surrounding towns.www.DistinctiveHomes-NE.com