The residents of Tiverton recently passed the Tiverton Town bond referendum for $7 million a new public Library! http://www.eastbayri.com/news/2011/nov/08/tiverton-library-financial-town-referendum-both-wi/ An enormous number of volunteers worked to inform the public about the value of investing in a new library, resulting in approval at the polls, despite the difficult economic climate and the concern about taxes.
The Library Foundation, Trustees, Staff, Building Committee and Friends recently acknowledged the Community Partnership developed by John Kinnane of the Kinnane Group & Michael McNally of McNally Associates for being one of the earliest supporters of the project to build a modern, energy efficient library and community hub. The Kinnane Group continues to keep this committment to the new library with its "Community Partnership" program. It is very simple and it's a way for us to provide an added client benefit while helping to raise monies for the new library. Buy or sell your property in Tiverton through the Kinnane Group and we will provide a charitable contribution in your name to the Tiverton Library Foundation's new building fund that is matched dollar for dollar by Citizens-Union Savings Bank. "Charity begins at home", says Kinnane, "and this project couldn't hit any closer to home for us". The Kinnane Group was the exclusive broker involved in a sale to Citizens-Union Savings Bank a few years ago when Gilbert & Jeanette Guimond sold their family-owned Guimond Farms property and also brokered the adjacent land transaction from Citizens-Union Savings Bank to the Friends of Tiverton Library. The bank has established a beautiful branch banking and insurance facility at Bliss Four Corners and Tiverton Library Foundation has now embarked on their plans to build a brand new 30,000 sq. ft. state of the art public library facility that will become a town treasure for many years to come.
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October, typically, is our transition month in the local market area where the real estate activity begins to cool off and peoples' attentions become more focused on preparations for the upcoming holiday season and preparing their homes for the colder winter months. This year is no different in this regard. After experiencing consecutive months in positive trending in sales volume growth, October's numbers reveal the beginning of that seasonal decline in activity. After September posted the highest monthly sales volume for the calendar year, 2011 with new pending sales notched at 159 properties, October settles back at a more typical monthly sales volume with 138 new residential properties going under agreement. That represents a 13.208% decrease in total sales volume, month to month. Additionally, pending sales data for the month of October 2011 indicated a 0.705% increase in the median sale price recorded at $199,900. yet a 4.019% decrease in the mean sale price that was tallied at $237,780. 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 10/01/2011 through to 10/31/2011 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! If you are a Southcoast Health System employee visit our website to learn how you can take advantage of our new discount service program. Save up to 30% on brokerage fees.
We thought it was good news when we reported August as the top producing month for the year so far, but we now see that September gains that title by just barely outpacing August in total sales volume. The total sales volume in our local market area continued to show strength after we saw 156 properties go under agreement in August. September posted just slightly more new pending sales as 159 new residential properties went under agreement during the month. This edges out the month of August by a mere 3 properties to claim the title as top producing month of the calendar year 2011, (so far), and the second consecutive month of growth to report in sales volume. In a quick recap of the last four months in our local market area we had seen June as the top producing month with 154 properties, then a drastic drop off in July at 119 properties, rebounding back to 156 properties in August and now we've posted a new high for the year at 159 properties in September. Three out of the last four months showing a very respectable strength in total sale volume is certainly good news. Although its not the only reason for the increase in sales volume, historically low mortgage interest rates appear to continue to motivate some folks to buy now. Work loads for local real estate appraisers has also continued at a fever pitch with people refinancing and taking advantage of the lower mortgage rates. The volume of pending sales statistics cover the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. They reveal an increased volume of monthly activity for residential properties that went under agreement from 09/01/2011 through to 09/30/2011 in our local market area serviced by the H3MLS-Property Information Network. The total sales volume in September represented a 1.923% increase over the 156 properties that went under agreement during the month of August. Additionally, pending sales data for the month of September 2011 indicated a 9.319% decrease in the median sale price recorded at $198,500. yet a 2.126% increase in the mean sale price that was tallied at $247,736. 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! If you are a Southcoast Health System employee visit our website to learn how you can take advantage of our new discount service program. Save up to 30% on brokerage fees.
August proves to be the top producing month for the year so far, despite the down time imposed by concerns over, and power outages from, Hurricane, (tropical storm), Irene. The total sales volume in our local market area bounced right back in grand fashion after a less than exciting tally posted with July's 119 properties. August posted a wopping 156 new residential properties that went under agreement during the month, edging out the month of June by a mere 2 properties to claim the title as top producing month for the year and continuing with this seesawing trend we've been experiencing for an extended period now. Historic low mortgage interest rates appear to have helped push some folks off the fence and into the local real estate market. Work loads for local real estate appraisers has also spiked with people refinancing and taking advantage of the lower mortgage rates that are now available, coming at a time when the appraisal industry transitions to meet the newly mandated UAD compliance measures of Fannie Mae and Freddie Mac. The volume of pending sales statistics cover the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. They reveal an increased volume of monthly activity for residential properties that went under agreement from 08/01/2011 through to 08/31/2011 in our local market area serviced by the H3MLS-Property Information Network. The total sales volume in August represented a 31.092% increase over the 119 properties that went under agreement during the month of July. Additionally, pending sales data for the month of August 2011 indicated a 4.28% increase in the median sale price recorded at $218,900. yet a 5.69% decrease in the mean sale price that was tallied at $242,579. With interest rates at such low levels and adequate funding available to qualified applicants, this certainly appear to be quite an opportune time to buy! If you're ready to jump off the fence and into the local 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! If you are a Southcoast Health System employee click here to take advantage of our new discount service prpgram. Save up to 30% on brokerage fees.
What does this mean?
UAD is the Uniform Appraisal Dataset, which goes into effect on September 1, 2011. Fannie Mae and Freddie Mac, (the GSE’s – Government Sponsored Enterprises), created the Uniform Mortgage Data Program (UMDP) initiative which is intended to improve the quality of loans and documentation submitted by originators to the two GSE’s. The UMDP is a comprehensive loan quality program with several sub-initiatives, most of which apply to lenders who sell loans on the secondary mortgage market. For appraisers, the UAD is the most important of these sub-initiatives. This program is intended to standardize and provide consistency for data points on real estate appraisal reports. The existing forms will not change, but how certain data is entered into the form will be standardized. Additionally, reports will now be submitted to lenders in what is referred to as a 'dual' format. Lenders will receive the customary 'pdf' file along with a new requisite 'xml' file that is also submitted to the participating GSE. The Kinnane Group has been issuing UAD compliant reports in dual reporting formats to lenders who have requested them since the middle of July. Our UAD compliant training is complete, our software is in place and our appraisal processing and auditing system is operational. Simply put, we are up and running! Please let us know when you would like to begin receiving these new dual format reports. Additional reference material regarding UAD is available on the Freddie Mac website: UAD Interactive Reference Manual We look forward to being your partner in migration to the new UAD requirements. Please feel free to contact us with any questions you may have. After a fairly robust local real estate market in June, the month of July blessed us with gorgeous beach, boating and back yard barbecue weather and challenged us with a brief heat wave that broke the 100 degree barrier for a short stint. These factors and the national debate over our nation's debt ceiling limit apparently combined to keep a few more people away from house hunting this month, at least in our little corner of the world. Although July's prices did see some movement, they don't seem to be very far off from the numbers posted in June. The volume of pending sales, however, was certainly down. These monthly statistics cover the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. They reveal a respectable level of activity for residential properties that went under agreement from 07/01/2011 through to 07/31/2011 in our local market area serviced by the H3MLS-Property Information Network. The total sales volume was recorded at 119 new properties that went under agreement during the month of July, which is a 22.7% decrease from the 154 properties in June, offsetting the 22% gain in volume realized from May to June. New pending sales data for the month of July 2011 indicated a slight 0.52% decrease in the median sale price recorded at $209,900. and a slight 1.29% increase in the mean sale price that was tallied at $257,208. The mean posted a 2nd consecutive month of gains. With interest rates at such low levels and adequate funding available to qualified applicants, this is quite an opportune time to buy! If you're ready to jump into the 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! If you are a Southcoast Health System employee click here to take advantage of our new discount service prpgram. Save up to 30% on brokerage fees.
After two nearly identical back to back months of spring time market activity in April and May, things heat up a bit in June as the month notches increases in not only sales volume but in prices as well. The total sales volume was recorded at 154 new properties that went under agreement during the month of June, which is a 22% increase from the 126 properties in May and well above the winter lows of 95 and 99 pending sales posted this past December and January. New pending sales data for the month of June 2011 also indicate increases in the median and average sale prices that were recorded as $211,000. and $253,920., respectively. The median sale price shows a 0.96 % increase and the average sale price notches a 6.72% increase over May 2011. The month of June, historically, is the most active spring time month for the real estate market in our area and, that again, is the case this year. These monthly statistics cover residential properties for the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. They reveal a respectable level of activity for residential properties that went under agreement from 06/01/2011 through to 06/30/2011 in our local market area serviced by the H3MLS-Property Information Network. With interest rates at such low levels and adequate funding available to qualified applicants, this is quite an opportune time to buy! If you're ready to jump into the 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 and to help you out!
The local real estate market activity for the month of May was identical to April 2011 in two of three categories. As we continue with a fairly typical spring time market trend here in the greater Fall River area, total sales volume was identical to that recorded in April, as was the median sale price. We did, however, realize a dip in the average sale price. This drop in average sale price continues the seesawing that we've been experiencing for an extended period. The total sales volume was notched at 126 new properties that went under agreement during the month of May and, as is typically the case, this continues our spring time activity that, again, is well above the winter lows of 95 and 99 pending sales posted this past December and January. New pending sales data for the month of May 2011 indicate a median and average sale price of $209,900. and $237,934., respectively. While the median sale price showed no movement from April, the average price was down approximately 8.3% from April 2011 rebounding from the 13% increase in average sale price experienced from March to April. So, all in all, the month of May seemed to be a continuation in the trend of fluctuating pricing that has been occurring for an extended period of time as we, seemingly, continue to hover at / near the bottom of this local real estate market cycle. These monthly statistics cover residential properties for the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. They reveal a respectable level of activity for residential properties that went under agreement from 05/01/2011 through to 05/31/2011 in our local market area serviced by the H3MLS-Property Information Network. With interest rates at such low levels and adequate funding available to qualified applicants, this is quite an opportune time to buy! If you're ready to jump into the 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 and to help you out!
Although compliance is not mandatory until September 2011, the Kinnane Group has recently upgraded its appraisal processing software and is currently in position to begin delivering Uniform Appraisal Dataset (UAD) compliant appraisal reports in 'PDF' or 'XML' formats.
Fannie Mae and Freddie Mac have jointly established the Uniform Mortgage Data Program (UMDP), under the direction of the Federal Housing Finance Agency, to provide common requirements for appraisal and loan delivery data. UMDP consists of several components, but the UAD is the key piece that will affect day-to-day appraisal reporting, and consists of key appraisal data elements being standardized to ensure that they are consistently reported across the entire scope of the GSEs' loan portfolio. Use of the UAD is required for appraisals reported on the four UAD appraisal forms with an effective date on or after September 1, 2011. Prior to that date, the Kinnane Group which has updated its appraisal forms software to a version designed to prepare UAD-compliant appraisal reports will start using the UAD, as required by our lender clients. The Kinnane Group announces that it has been added to the real estate appraiser panel at Streetlinks.
StreetLinks is a national leader in mortgage lending solutions. They provide an innovative and differentiated suite of valuation services and lending technology solutions. StreetLinks' commitment to quality and service, combined with their partnership approach to clients and appraisers, sets them apart as one of the nation's premier lending solutions partner. The Best People! Streetlinks boasts that it's their people that make the difference! From their executive level experience in appraisal and mortgage management to their network of the finest appraisers in the nation, StreetLinks attracts and maintains the best people in the lending industry. The Kinnane Group is a leading local real estate service provider serving the southcoast region of Massachusetts and nearby east bay Rhode Island for 51 years. |
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