Massachusetts Governor Deval Patrick and Boston Mayor Tom Menino have announced the formation of The One Fund Boston, Inc. to help the people most affected by the tragic events that occurred in Boston on April 15, 2013. The Kinnane Group will pledge 10% of commissions earned to The One Fund Boston | 2013 if you buy or sell your next home through us. This pledge will be made in the form of a charitable donation in your name that you'll get a tax credit for. Call us today for details! Click here to learn more about The One Fund Boston
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Over the past few years we have been releasing monthly and quarterly market statistics relative to the residential real estate market trends in the greater Fall River area. These snapshots, if you will, have been reported as summations of the overall local real estate maket activity, with no differentiating between the various segments of the residential market, namely, single family, muti-family and condominiums. This month we've broken it all down for you on a quarterly basis comparing each of the first quarter's market statistics in our local service area since 2009. These sales statistics cover the communities of Berkley, Dartmouth, Dighton, Fall River, Freetown, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport as serviced by the H3MLS-Property Information Network, (MLS-Pin). They illustrate quarterly pricing and sales volume, in terms of number of housing units, in total as well as by individual category. They are tabulated as follows: Sales Volume Quarter Ending Single Multi Condo Total % Change 3/31/2009 265 77 26 368 3/31/2010 299 80 34 413 12.23% 3/31/2011 273 65 27 365 -11.62% 3/31/2012 328 71 27 426 16.71% 3/31/2013 333 46 30 409 -3.99% Median Sale Price Quarter Ending Single Multi Condo Overall % Change 3/31/2009 $229,300 $164,900 $134,900 $176,367 3/31/2010 $236,250 $150,000 $ 94,450 $160,233 -9.15% 3/31/2011 $224,950 $149,000 $ 69,900 $147,950 -7.67% 3/31/2012 $199,900 $129,000 $139,900 $156,267 5.62% 3/31/2013 $234,900 $169,950 $100,000 $168,283 7.69% Mean Sale Price Quarter Ending Single Multi Condo Overall % Change 3/31/2009 $260,122 $199,260 $165,257 $208,213 3/31/2010 $264,979 $183,640 $159,202 $202,607 -2.69% 3/31/2011 $290,387 $170,746 $116,437 $192,523 -4.98% 3/31/2012 $257,129 $162,270 $131,577 $183,659 -4.60% 3/31/2013 $282,921 $189,841 $161,710 $211,491 15.15% We had indicated almost entirely throughout last year's monthly market reports that the local real estate market had demonstrated a seesawing affect with sporadic rising and falling taking place on a month to month basis while the overall trend remained relatively stable by way of both sales volume and housing prices. Looking at the same statistics, only on a slightly larger scale, we see much of the same pattern. While its easy to note that there have been gains and losses year to year, the overall summary is still that we have experienced relative stability in the local real estate market over the past few years. Comparing first quarter 2009 with each successive first quarter period through to the quarter ending March 31, 2013, we see that overall, sales volume grew by 3.33% while the median and mean sale prices remained relatively the same losing 0.88% and gaining 0.72%, respectively. On a positive note, however, when comparing first quarter 2012 to the same period in 2013 we see a jump in each the median and mean house prices of 7.69% and 15.15% despite a slight decline in volume. All in all, putting this in perspective, the local residential real estate market during the first quarter of 2013 continued to perform with a fairly healthy volume of sales with sizeable increases in pricing noted.
The Kinnane Group proudly announces that it has added Notre Dame Community Federal Credit Union of Fall River to its client base having recently been approved to provide real estate appraisal services to the credit union. Notre Dame Community Federal Credit Union was chartered in 1938 as Notre Dame Parish Federal Credit Union. Their mission at that time was to serve the community of French Canadians who were hard working blue collar workers and who had no access to a banking institution for their deposit, borrowing, and general financial needs. This mission over the years has been broadened to serve the ever changing faces of our membership. In those early years growth was slow due to limited hours and limited facilities. In 1968, the credit union expanded its membership to include wards 5 and 6 of the city of Fall River. This was done under a program called 'Model City'. As the credit union grew, so did the need for a larger facility. In 1971, the credit union moved from Pleasant Street to new quarters at 659 Eastern Avenue. This move resolved the need for a larger facility for a period of time. In 1986, they purchased a residence to expand this facilityg and add a drive-in service window. This expansion was finished in 1989. Since then the facility has been expanded upon and made even more convenient for members and their service area has been broadened to include the greater Fall River area suburban communities. The credit union for many years used the trade name of Notre Dame Federal Credit Union. The credit union also was very progressive in the services offered and to this day continue to look for ways to serve its members in the ways they have come to expect. The Kinnane Group was recently approved to provide real estate appraisal services to the credit union. The Kinnane Group has a long standing history of providing quality real estate appraisal services with high performance standards that embraces technology initiatives while demonstrating geographic competency. The Kinnane Group is in its 53rd year of operation as a leading real estate service provider to the southcoast area of Massachusetts and east bay region of Rhode Island. The Kinnane Group announces that it has added Somerset Federal Credit Union to its client base having recently been approved to provide real estate appraisal services to the credit union. The Somerset Federal Credit Union is a member-based, not-for-profit financial cooperative that is owned and controlled by members. Service-driven rather than profit-driven, their goal is to provide a safe, convenient place for members to save money and borrow at reasonable rates. Credit unions are chartered to serve particular groups of people. In the case of the Somerset Federal Credit Union, membership is open to anyone who lives or works in Bristol County. Each member becomes part of the credit union family and an owner who has one vote at the annual meeting. In 2010, the credit union earned a 5-Star rating for financial strength and stability from Bauer Financial, an independent financial rating firm that has been analyzing and reporting on the nation's financial institutions since 1983. The rating is based on the overall financial picture of an institution, with 5-Star being the highest rating given. The Kinnane Group was approved to provide real estate appraisal services to the credit union. The Kinnane Group has a long standing history of providing quality real estate appraisal services with high performance standards that embraces technology initiatives while demonstrating goegraphic competency. The Kinnane Group is in its 53rd year of operation as a leading real estate service provider to the southcoast area of Massachusetts and east bay region of Rhode Island. John Kinnane, president of the Kinnane Group announces that Mark Velozo of Somerset, Massachusetts has joined the real estate firm as a real estate salesperson. "Mark is clearly an excellent addition to our real estate company and we are excited about working with him and getting him up and running with our ongoing efforts of servicing our clients in the southcoast region of Massachusetts", says Kinnane. "Mark is well known in local circles as a hard working and honest individual who works dilligently on getting the job done, and done well". Mark majored in Business and Marketing at Bridgewater State University and his business and management experience include being President of Slade Formal Wear, Inc. of Fall River, Massachusetts and as President of Marque Theatre Productions, Inc., a not-for-profit theatre company based in Somerset, Massachusetts. Mark, his wife Alice and daughter Lindsay reside in Somerset, MA. The Kinnane Group is a full servie real estate company servicing the southcoast region of Massachusetts and the east bay area of Rhode Island. Founder, Chuck Kinnane, began brokering real estate in Swansea, Massachusetts in 1960. The company is now under the direction of John Kinnane and has specialized for many years in the appraisal of real estate. Over the past few years the Kinnane Group has made incremental progress at re-establishing its presence as an active real estate brokerage firm as well. After enjoying nearly 53 years of success, it's exciting that we are able to continue to enhance our brokerage team in the Greater Fall River area with the likes of such a quality individual as Mark. Mark's buisness acumen, strong work ethics and organizational skills will certainly take him a long way in this endeavor. John Kinnane of the Kinnane Group brokered the sale of a 1 acre commercial parcel of land at Bliss Four Corners in Tiverton Rhode Island. Bliss Four corners is an underserved area of the town of Tiverton where Routes 177 and 81 intersect. The site itself provides high visibility along Route 81 (Crandall Rd) just south of the intersection of Rte 177 (Bulgarmarsh Rd) between "Wally's Tap House" restaurant / tavern and the Tiverton Fire Station, near the brand new Bay Coast Bank branch, abutting the soon to be built 30,000 sf Tiverton Public Library and the Arts and Agricultural Community of Sandywoods Farm. This parcel represents the last remaining peice of what was, for decades, the Guimond Farm property run by Gilbert and Jeannette Guimond and their family. The Kinnane Group brokered the former property when the Guimonds decided to retire. Citizens-Union Savings Bank, (now Bay Coast Bank), purchased the entire property and redeveloped it with a full service branch bank and insurance office. The Kinnane Group went on to broker the unused portions of the property to the Tiverton Library Foundation who are nearly set to begin the construction of a new public library, and a 2nd parcel to a Dartmouth business man who owns and operates what is now known as Wally's Tap House just south of the Bay Coast Bank branch. Mr. Kinnane was the sole broker involved in this latest transaction. This sale represents the 5th transaction that the Kinnane Group has brokered within the immediate proximity of Bliss Four Corners that was initiated with the sale of the McGreavy property to the Deblois Company, now the home of a Hess Convenience Store and filling station at the northeast corner of the intersection. The Kinnane Group was recently hired as the exclusive real estate broker for the 22 home sites at Sandywoods Farm, immediately south of the town's Recreation Center along Rte 177. The Kinnane Group has been in service to the southcoast region of Massachusetts and the nearby east bay area of Rhode Island since its inception in 1960. The company has a long standing reputation for providing a wide variety of personalized real estate services. Westport Cape for Sale by The Kinnane Group The local real estate market has remained active and prices apparently are holding relatively steady. A brief summary of sales volume as well as median and mean sale prices for each of the months of August, September and October follow: Month/Year Units Median Sale Price Mean Sale Price Aug. 2012 157 $196,450 $244,645 Sept. 2012 145 $189,900 $253,607 Oct. 2012 137 $199,900 $232,913 These sales statistics cover the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. They reveal monthly activity for residential properties that went under agreement from 08/01/2012 through to 10/31/2012 in our local market area as serviced by the H3MLS-Property Information Network. This continues a fairly healthy volume of sales in our general market area of the southcoast region of Massacushetts and the nearby east bay area of Rhode Island, a trend that is sustaining. Although there is still room for improvement this is a continued good news for the local real estate market. Attached below is a link to a 'PDF' file that illustrates volume and price trending from January 1, 2011 through to October 31, 2012. If you're ready to jump off the fence and into the local real estate market and take advantage of the opportunities that exist, contact us today to determine your options as either a buyer or a seller. We're here to work through the complexities of the local real estate market, make sure you neither under sell or over pay for your property, and to help you out along the way! We are ready to serve all of your local real estate appraisal and brokerage needs. Our coverage area includes the southcoast region of Massachusetts and the east bay region of Rhode Island. Please feel free to contact us today!
John Kinnane of the Kinnane Group brokered the sale of a 30,000 sq. ft. shopping plaza on 4 acres of land at 3057 Acushnet Avenue in New Bedford's north end. The property transaction closed on September 21, 2012 for $1,000,000. The new owners are set to begin the transformation of the property into a professional office building and will begin to consolidate some of their leased facilities and operations into this convenient north end location at the intersection of Acushnet Avenue and Alfred M Bessette Memorial Highway. The property owned by St Anne's Credit Union of Fall River was listed for sale by Margaret A Sweet, owner of Sweet Properties of Dartmouth, MA. The buyer, Child & Family Services Inc of New Bedford was represented by Mr Kinnane. The Kinnane Group has been in service to the southcoast region of Massachusetts and the nearby east bay area of Rhode Island since its inception in 1960. The company has a long standing reputation for providing a wide variety of personalized real estate services The market bounced back from the little breather it took during the month of June. Sales volume in July was up 13.28% over last month, climbing up to 145 transactions from the 128 transactions posted in June, erasing just a bit more than half of the sales volume drop that occured from May to June. Also worth noting is that sales volume was up 21.85% when compared to July 2011. This, seemingly, is a pretty healthy sign for the local real estate market, seeing that July is well within the traditional summer vacation season and people are generally a bit more focused on summer fun and festivities than they are about housing. While the median sale price dipped 5.38% to $204,850. we saw a spike in the mean sale price in June, up 30.13% to $331,392. Taking a closer look at the sales, we note one $10,000,000. + pending sale, comprised of the 50 acre ocean front Truesdale Farm property on Brayton Pt. Rd. in the town of Westport. These sales statistics cover the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. They reveal monthly activity for residential properties that went under agreement from 07/01/2012 through to 07/31/2012 in our local market area as serviced by the H3MLS-Property Information Network. If you're ready to jump off the fence and into the local real estate market and take advantage of the opportunities that exist, contact us today to determine your options as either a buyer or a seller. We're here to work through the complexities of the local real estate market, make sure you neither under sell or over pay for your property, and to help you out along the way! We are ready to serve all of your local real estate appraisal and brokerage needs. Our coverage area includes the southcoast region of Massachusetts and the east bay region of Rhode Island. Please feel free to contact us today!
The market apparently took a little breather during the month of June. Sales volume was down 21.95% to 128 transactions from the 164 we saw in May. Likewise the mean price dipped just a bit by -1.55% to $254,671 while the median sale price climbed by 8.28% to $216,500., month over month. To further qualify these results, sales volume was also down 16.88% while both the mean and median sale price were up 0.30% and 2.61%, respectively, when compared to June 2011. These sales statistics cover the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. They reveal monthly activity for residential properties that went under agreement from 06/01/2012 through to 06/30/2012 in our local market area as serviced by the H3MLS-Property Information Network. If you're ready to jump off the fence and into the local real estate market and take advantage of the opportunities that exist, contact us today to determine your options as either a buyer or a seller. We're here to work through the complexities of the local real estate market, make sure you neither under sell or over pay for your property, and to help you out along the way! We are ready to serve all of your local real estate appraisal and brokerage needs. Our coverage area includes the southcoast region of Massachusetts and the east bay region of Rhode Island. Please feel free to contact us today!
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