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THE LATEST HAPPENINGS
ALL THE BERKSHIRE REAL STATE NEWS THAT IS FIT TO TYPE
Berkshire real estate sales show increase from previous year
Wednesday, September 01, 2010, 12:46 AM - new sales
By Sandy Carrol
Despite reports in the national news, year-to-date Berkshire real estate sales are showing increases from the previous year. Overall the market has slowed after highs in June. Based on August 25 sales statistics, it seems that total number of sales in August will be down from 2009 levels, but dollar volume transacted could be close to the same, with $18.8 million already transacted this month in Berkshire County home sales.
The sales statistics comparing the first seven months in 2009 with 2010 (Jan-July) show a positive increase in all of our predictive factors for residential sales: number of homes on the market (up 10%); dollar volume transacted in residential sales (up 22%); number of homes sold (up 13%); number of homes under agreement (up 11%) and rising median prices (up 8%), for all three regions in Berkshire County.
Southern Berkshire is showing the largest improvement over last year from any other location in the county. Inventory levels are the most constant when comparing July 2009 with 2010. There was a 5% increase in inventory with 1161 single family homes on the market for sale, but the northern and central regions saw a jump of 20% and 12%, respectively. While June sales were much higher than the previous year, July sales were down. Comparing January-July 2009 with 2010, the total number of southern Berkshire homes under contract was up 19%, number sold up 22% and dollar volume transacted up 30% from the previous year. Median sale price is now at $282,500, up 2% from $275,000.
Central Berkshire is showing modest improvement over last year January-July statistics. Inventory levels at the end of July were up 12% over the previous year, with 932 single family homes on the market for sale. The inventory in central Berkshire represents 36% of the market, yet 44% of the sales, which is a strong indicator of supply not exceeding demand. While June sales were much higher than the previous year, July sales were down. Comparing January-July 2009 with 2010, the total number of central Berkshire homes under contract was up 4%, number sold up 5% and dollar volume transacted up 13% from the previous year. Median sale price is now at $170,000, up 6% from $159,900.
Northern Berkshire is showing significant improvement over last year January-July statistics. Inventory levels at the end of July were up 20% over the previous year, with 466 single family homes on the market for sale. Unlike the central and southern Berkshire markets, sales in Northern Berkshire were higher than the previous year in both June and July. Comparing January-July 2009 with 2010, the total number of northern Berkshire homes under contract was up 18%, number sold up 15% and dollar volume transacted up 18% from the previous year. Median sale price is now at $140,750, up 1% from $138,750. While all parts of Berkshire has diverse housing stock in both price and style, northern Berkshire is, on average, the most affordable of the county.
Mortgage Rates Hit Another Low: 4.54 Percent
Thursday, August 05, 2010, 5:21 PM - buying
Mortgage Rates Hit Another Low: 4.54 Percent
by THE ASSOCIATED PRESS
text size A A A July 29, 2010
Mortgage rates dropped to the lowest level on record for the fifth time in six weeks, making homebuying and refinancing the most attractive in decades for those who can get loans.
The average rate for 30-year fixed loans this week was 4.54 percent, down from 4.56 last week, mortgage company Freddie Mac said Thursday. That's the lowest since Freddie Mac began tracking rates in 1971.
The last time rates were lower was during the 1950s, when most mortgages lasted just 20 or 25 years.
The rate on the 15-year fixed loan dropped to 4 percent, down from 4.03 percent last week and the lowest on record.
Rates have fallen since the spring. Yields on U.S. Treasury bonds have dropped as jittery investors seek safer investments. Mortgage rates tend to track the yields on Treasurys.
Mortgage Rates Sink Again
Weekly rates, in percent, for fixed 30-year mortgages
Source: Freddie Mac
Credit: NPR
Low rates helped spark a little activity in the weak housing market. Applications to purchase homes rose 2 percent last week from the previous week, the Mortgage Bankers Association said Wednesday. Still, the housing market has been struggling and overall applications for loans were down last week as fewer people applied to refinance.
High unemployment, slow job growth and tight credit have made it difficult for many to purchase homes. The housing industry received a boost this spring when the government offered homebuying tax credits, but since those expired in April housing activity has fizzled.
Sales of previously occupied homes fell 5.1 percent in June. New home sales jumped last month, but it was the second-weakest month on record and it came after sales tumbled in May.
Refinance activity has increased over the last month as homeowners seek more affordable monthly payments. But many don't qualify for a loan or don't have the cash to pay for closing costs. And rates have been low for so long that many have already refinanced.
To calculate the national average, Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day.
Rates on five-year adjustable-rate mortgages averaged 3.76 percent, down from 3.79 percent a week earlier. Rates on one-year adjustable-rate mortgages fell to an average of 3.64 percent from 3.70 percent.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount. The nationwide fee for loans in Freddie Mac's survey averaged 0.7 a point for all loans.
Tag along on a trip through Americana in Massachusetts' Berkshires
Thursday, August 05, 2010, 5:29 PM - buying
BY CATHERINE MALLETTE
cmallette@star-telegram.com
Now the first of December was covered with snow
And so was the turnpike from Stockbridge to Boston
Lord, the Berkshires seemed dream-like on account of that frosting...
No, no. There is no snow. It is a hot, sweltering July night, but still, the Berkshires do seem dreamlike, magical even, and the crowd roars its approval.
After all, life is good. James Taylor is onstage at Tanglewood, that venerable outdoor amphitheater in western Massachusetts' Berkshire Mountains. Summer home of the Boston Symphony Orchestra since the 1930s, the Lenox venue features a covered stage and seating known as the Music Shed, but, more enchantingly, it also boasts acres of lush green lawn surrounded by towering pines and topped, as the evening goes on, by an inky sky bedazzled with stars.
This is practically Taylor's back yard. He has a home about 10 minutes down the road, and locals say he is frequently seen in Stockbridge, a slip of a town incorporated in 1739 and also about five to 10 minutes from the theater.
The crowd, mainly middle- to late-middle-age folks who have been fans of the singer for decades, loves him. His voice, filling the vast outdoor space, sounds exactly like it did when they listened to him on vinyl. Tonight, they've brought their baby, their blanket and their bucket of beer.
But wait, as they say, there's more. Taylor is onstage with Carole King as part of their 2010 Troubadour Reunion tour. She has been belting out hit after hit and at 68 seems better than ever. And just when the crowd has been lulled into a "Dear Lord, could this concert be any better?" state of tranquility, Taylor says he has a special guest, and Yo-Yo Ma appears, cello in hand, joining the group for a sublime version of Sweet Baby James.
I break into a grin from ear to ear, as Taylor would say, and suddenly it's perfectly clear: That's why we're here.
While Ticketmaster was raking in the bucks with the American Idol tour this summer, a tour that seemed to be getting an inordinate amount of media coverage, my husband, David, and I decided to take a different tack. We bought tickets online to the Tanglewood concert, booked a cottage room for three nights at a historic inn in Lenox and embarked on a sort of American Icon tour, intent on rediscovering some of our nation's vacation classics. Seeking Nature and Culture, we set off to lose ourselves in the tiny rural triangle of Stockbridge, Lee and Lenox, Mass.
Berkshires, once haunt of captains of industry, offer urbane renewal.
Tuesday, June 15, 2010, 7:44 PM - buying
Berkshires, once haunt of captains of industry, offer urbane renewal.
Sunday, June 13, 2010
LAST UPDATED: SUNDAY JUNE 13, 2010, 10:51 AM
BY SHANNON ROXBOROUGH
THE RECORD
SPECIAL TO THE RECORD
Once tribal lands of the Mohawks and Mohicans, and later populated with missionary settlements, the Berkshires became a fashionable retreat for the captains of industry in the Gilded Age. The Vanderbilts, Carnegies and Westinghouses built grand seasonal estates, and the region became a spring and summer escape for city-weary socialites.
Artists and writers were attracted by the area's bucolic character and inspiring landscapes, prompting the likes of Norman Rockwell, Nathaniel Hawthorne and Herman Melville to put down local roots.
Even today, the small cities, villages and hamlets strewn among the Berkshires' scenic, low-slung Taconic and Hoosac mountain ranges in western Massachusetts continue to draw the social elite and those with an appreciation for art, as well as back-to-nature escapists seeking peace and semi-seclusion.
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Sales of single-family homes in Massachusetts surge
Tuesday, June 15, 2010, 7:43 PM - new sales
Sales of single-family homes in Massachusetts surge
By The Associated Press
May 25, 2010, 8:23AM
BOSTON (AP) - Sales of single-family homes soared in Massachusetts in April when compared to the same month a year ago according to two groups that track the numbers, further evidence that the state's housing market is recovering.
The Warren Group reports Tuesday that the number of single-family homes sold jumped nearly 46 percent last month when compared to April 2009, while the Massachusetts Association of Realtors says the year-over-year sales numbers rose about 44 percent.
The two organizations use slightly different methods of calculation.
The Realtors group also reported that inventory increased for the second consecutive month after 23 straight months of year-over-year declines.
The median price of a single-family home was up more than 7 percent when compared to last April, according to both groups.
Top 20 Retirement Dream Areas
Wednesday, April 14, 2010, 8:00 AM - buying
WALLETPOP Rates Lenox one of:
Top 20 Retirement Dream Areas
No. 20: Lenox, Mass.
Neighborhood: Lenox
ZIP Code(s): 01240, 01242
Scout's Retirement Score: 86 (Very Good)
Median House Value: $342,652
"Currier and Ives lovely” is how LIFE Magazine described Lenox which lies in the heart of the beautiful Berkshire Hills in Western Massachusetts. A century ago, many of America’s wealthiest families were attracted to Lenox by the clear air and commanding vistas. They built magnificent summer mansions here and called them “cottages.” Lenox has become famous around the world as the site of Tanglewood, summer home of the Boston Symphony Orchestra. Today, Lenox is a premier destination for the traveler and retiree in search of culture, outdoor recreation or a getaway from the everyday world. Lenox remains a place of restful beauty and gentle hills, a place to soothe the weary body and busy mind. Nearby Stockbridge is home to the Norman Rockwell Museum. Sophisticated, funky and quiet, Lenox is a special place.
Is The Dip Done?
Saturday, February 27, 2010, 11:27 AM - buying
The Berkshires
Saturday, January 16, 2010, 4:39 PM - buying
This interesting post comes from our friends at the Berkshire Visitors Bureau:
The Berkshires
By the time the ice age retreated some 25,000 years ago, the mountain ranges which enclose the Housatonic, Green and Hoosic River valleys forming “the Berkshires” had worn from near Himalayan size to, for the most part, gently rolling hills. Today this special tri-state area covering western Massachusetts, part of northwestern Connecticut and the New York side of the Taconics attracts many to its bounty of natural beauty, cultural events, recreational amenities and fascinating heritage.
The first documented settlement occurred in the mid-1600s when the Mahican Indians moved away from the Iroquois along the Hudson to live in peace at “The place beyond the mountains”, “Questennuck” (Housatonic)*. Not long after, these Indians taught the first white men to settle here how to clear the land of forests and glacial rocks in order to grow basic crops. They also told the secret of tapping maple trees to make syrup and sugar. Others soon followed to this countryside seeking a better life than that offered by the Dutch Patroons of New York State or the British Crown in Boston.
The Berkshires soon came to represent a promising land of “free-thinkers”. Important events such as the drafting of the first Declaration of Independence, the demise of the British judicial system in America, the first slave freed under due process of law, the swinging influence for ratification of the U.S. Constitution, the birth of the women’s rights movement in Susan B. Anthony and of the civil rights movement in W.E.B. DuBois…all occurred here.
The many rivers of the region invited early industry, Mills of all kinds were built; lumber, grain, cider and spirits, textile, and paper including today’s Rising, Mead, and Crane (where paper for most world currency is still produced). Factories for brooms, buggy whips, axles and shoes; iron and clay mines; marble, granite, limestone and sand quarries…industry fed on abundant raw materials. The Hoosac Tunnel became the engineering feat of the 19th century and opened up an eastern route for railroad export of goods. William Stanley’s alternating current transformer made Gt. Barrington the world’s first town lighted by electricity. The Shakers alone invented hundreds of purposeful items including such “modern conveniences” as the circular saw and the washing machine.
Cultural development harks back to 1739 when the Rev. John Sergeant established an Indian school at Stockbridge. Col. Ephraim Williams was killed in the French & Indian war leaving an inheritance to found Williams College. Jonathan Edwards wrote Freedom of the Will. Josh Billings was born in Lanesborough. Henry Ward Beecher, William Cullen Bryant and Fanny Kemble were the first Berkshire literati to promote the beauty of the “American Lake District” or “inland Newport”. Henry David Thoreau, Nathaniel Hawthorne, Herman Melville, Edith Wharton, Oliver Wendell Holmes, James Weldon Johnson and Henry Wadsworth Longfellow were a few of the writing notables who were drawn here. Of course, scores of the wealthy followed to build their “cottages”, mingle with the famous and enjoy the mountain landscapes. Musicians Albert Spalding, Serge Koussevitzky (the first conductor at Tanglewood) and Cole Porter all found harmony in these hills. Artists Ammi Phillips, Daniel Chester French, Henry Hudson Kitson and Normal Rockwell were all inspired to call this colorful place home. Today the hills are alive with the creativity of contemporaries in all fields.
Fine history and art museums, superb music and dance festivals, quality live theater, exceptional educational centers .… all of these factors and more have combined to complement the wondrous natural environment inviting all to enjoy in all seasons. Whether hiking the Appalachian Trail over Massachusetts’ two highest mountains, Greylock and Everett, or exploring the numerous state parks, golfing, skiing, biking country roads, boating, swimming, fishing or just relaxing …. the Berkshires are best for all reasons!
Pronounced ‘Westenhook’ by the Dutch.
Deborah Mossman
Administrative Manager
Berkshire Visitors Bureau
3 Hoosac Street, Adams, MA 01220
dmossman@berkshires.org
www.berkshires.org
The Berkshires
By the time the ice age retreated some 25,000 years ago, the mountain ranges which enclose the Housatonic, Green and Hoosic River valleys forming “the Berkshires” had worn from near Himalayan size to, for the most part, gently rolling hills. Today this special tri-state area covering western Massachusetts, part of northwestern Connecticut and the New York side of the Taconics attracts many to its bounty of natural beauty, cultural events, recreational amenities and fascinating heritage.
The first documented settlement occurred in the mid-1600s when the Mahican Indians moved away from the Iroquois along the Hudson to live in peace at “The place beyond the mountains”, “Questennuck” (Housatonic)*. Not long after, these Indians taught the first white men to settle here how to clear the land of forests and glacial rocks in order to grow basic crops. They also told the secret of tapping maple trees to make syrup and sugar. Others soon followed to this countryside seeking a better life than that offered by the Dutch Patroons of New York State or the British Crown in Boston.
The Berkshires soon came to represent a promising land of “free-thinkers”. Important events such as the drafting of the first Declaration of Independence, the demise of the British judicial system in America, the first slave freed under due process of law, the swinging influence for ratification of the U.S. Constitution, the birth of the women’s rights movement in Susan B. Anthony and of the civil rights movement in W.E.B. DuBois…all occurred here.
The many rivers of the region invited early industry, Mills of all kinds were built; lumber, grain, cider and spirits, textile, and paper including today’s Rising, Mead, and Crane (where paper for most world currency is still produced). Factories for brooms, buggy whips, axles and shoes; iron and clay mines; marble, granite, limestone and sand quarries…industry fed on abundant raw materials. The Hoosac Tunnel became the engineering feat of the 19th century and opened up an eastern route for railroad export of goods. William Stanley’s alternating current transformer made Gt. Barrington the world’s first town lighted by electricity. The Shakers alone invented hundreds of purposeful items including such “modern conveniences” as the circular saw and the washing machine.
Cultural development harks back to 1739 when the Rev. John Sergeant established an Indian school at Stockbridge. Col. Ephraim Williams was killed in the French & Indian war leaving an inheritance to found Williams College. Jonathan Edwards wrote Freedom of the Will. Josh Billings was born in Lanesborough. Henry Ward Beecher, William Cullen Bryant and Fanny Kemble were the first Berkshire literati to promote the beauty of the “American Lake District” or “inland Newport”. Henry David Thoreau, Nathaniel Hawthorne, Herman Melville, Edith Wharton, Oliver Wendell Holmes, James Weldon Johnson and Henry Wadsworth Longfellow were a few of the writing notables who were drawn here. Of course, scores of the wealthy followed to build their “cottages”, mingle with the famous and enjoy the mountain landscapes. Musicians Albert Spalding, Serge Koussevitzky (the first conductor at Tanglewood) and Cole Porter all found harmony in these hills. Artists Ammi Phillips, Daniel Chester French, Henry Hudson Kitson and Normal Rockwell were all inspired to call this colorful place home. Today the hills are alive with the creativity of contemporaries in all fields.
Fine history and art museums, superb music and dance festivals, quality live theater, exceptional educational centers .… all of these factors and more have combined to complement the wondrous natural environment inviting all to enjoy in all seasons. Whether hiking the Appalachian Trail over Massachusetts’ two highest mountains, Greylock and Everett, or exploring the numerous state parks, golfing, skiing, biking country roads, boating, swimming, fishing or just relaxing …. the Berkshires are best for all reasons!
Pronounced ‘Westenhook’ by the Dutch.
Deborah Mossman
Administrative Manager
Berkshire Visitors Bureau
3 Hoosac Street, Adams, MA 01220
dmossman@berkshires.org
www.berkshires.org
Pittsfield: One of 10 Top Housing Markets for the Next 10 Years
Monday, November 23, 2009, 9:53 PM - buying
According to a recent US NEWS & WORLD REPORT article, Pittsfield and Berkshire County is one of the top 10 housing markets in America for the next 10 years.
Luke Mullins Writes:
"Pittsfield is the cultural and commercial hub of Berkshire County, a wonderland of art, museums, and historic sites nestled into beautiful western Massachusetts. The revitalization of Pittsfield's downtown district could help area home prices rise an average of 3.5 percent a year over the next 10 years."
PEACEFUL EGREMONT REFUGE
Saturday, November 07, 2009, 7:42 PM - new sales
I spent a few days this week creating a video for one of the most special properties I've come across in the past few years. This is a peaceful, country refuge on a quiet dirt Egremont road with a spacious great room, a separate guest bedroom and bath that lends privacy to your visitors or an older child. There's a large master with its own fireplace with glass doors leading to an outdoor patio and flower gardens. Enjoy a second living room with fireplace which leads to an open kitchen, and a large, sunny, dining room. There are three fireplaces for cozying up on those cold winter nights after a great day of skiing at nearby Catamount Ski Resort. Step out the French doors off the kitchen onto a beautifully landscaped blue stone patio. The house is surrounded by perennial gardens and lush greenery with four plus acres and a pond nestled in the front meadow. Hundreds of feet from the New York State border, this house has easy access to NYC via the Taconic Parkway. You'll be only 15 minutes from Great Barrington and just down the road from French Park and Prospect Lake, this location has the right blend of convenience and quiet.
Take a moment and watch our video tour of this unique offering:
Take a moment and watch our video tour of this unique offering: