The Kinnane Group recently received confirmation of their status as an approved real estate appraisal service provider for the Rockland Trust Company. The Rockland Trust Company is a full-service community bank headquartered in Massachusetts, with approximately $4.5 billion in assets. The sole bank subsidiary of Independent Bank Corp. (NASDAQ: INDB), Rockland Trust provides a wide range of consumer, business, investment, and insurance products and services to communities in Eastern Massachusetts. The RTC network consists of 70 retail branches, 10 commercial lending centers, four mortgage banking centers, and three investment management offices located in Massachusetts, plus one investment management office in Rhode Island.
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BOSTON — Sales of single-family homes in Massachusetts plummeted in July when compared to the same month last year, reversing a trend of 12 consecutive months of increases and reflecting a weakened real estate market nationally, according to two reports released Tuesday.
Having suceesfully completed her course work during the spring of 2010, Karen Flaherty of Westport, MA has recently received confirmation from the state of Massachusetss that she has earned her Real Estate Appraiser's Trainee License. In Massachusetts, all applicants for licensure must demonstrate that he or she is of good moral character with a reputation for honesty, trustworthiness, and integrity; and also meet the requirements for the license. Each trainee applicant is required to complete 75 classroom hours of primary education in real estate appraisal courses approved by the Massachusetts Board of Real Estate Appraisers and shall satisfy the education criteria set forth by the Appraiser Qualifications Board.
Foreclosed homes permeate the American landscape. According to data from the Massachusetts Institute of Technology (MIT), they make up about one in 12 houses with under $1 million left on the mortgage.
These foreclosures drive down home prices, and MIT gives two reasons for their depreciating effect – because foreclosed homes add to the housing supply and because the financial firms that acquire the houses want to unload them promptly.
With all the talk of excess inventory and flood of foreclosures, the idea of a looming housing shortage sounds unrealistic if not fanciful.
After all, the most recent data from the National Association of Realtors (NAR) out last week showed a 5.1% decline in existing home sales in June. Meanwhile, total housing inventory increased 2.5% to four million homes available for sale, an 8.9-month supply, up from an 8.3-month supply in May.