SPRING MORTGAGE MARKET REVIEW SEE PAGE 10
THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS
PAGE 6
County close-up: Dukes and Nantucket Spotlight: Gosnold
IN PERSON
PAGE 8
Nate Turner recently marked his 22nd anniversary at Boston-based Margulies Perruzzi Architects (MPA). In recent years he’s specialized in repurposing brick-and-beam properties in neighborhoods including the Seaport District, updating historic structures for the 21st century economy.
WEEK OF MONDAY, OCTOBER 19, 2020
RESIDENTIAL REAL ESTATE BY THE NUMBERS
SPRING LENDING REVIEW
45 percent The typical home in Greater Boston spent 45 percent fewer days on market this August. See Heather Beasley Doyle’s story on page 9. Source: Zillow
$13.5 million
HOW LOAN ORIGINATORS HARNESSED RECORD RATES
The purchase price of a One Dalton condominium. See the Gossip Report on page 9. Source: The Warren Group
4 percent A new renovation service promises homes that use it will sell 4 percent closer to asking price. See Heather Beasley Doyle’s story on page 9. Source: Coldwell Banker
2,891 square feet The size of the smallest home in this week’s Gossip Report. See page 9. Source: The Warren Group
Pandemic Brought Dramatic Surge in Refi Business
$920,000
BY DIANE MCLAUGHLIN BANKER & TRADESMAN STAFF
The median single-family home sale price on Martha’s Vineyard. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module
T
he pandemic hit the mortgage sector – like most industries – with a series of unknowns: Can the industry operate remotely and still comply with regulations? Will credit standards tighten? Will there even be any activity? Most concerns were quickly resolved as the industry not only adapted to the pandemic but found homeowners seeing opportunities to refinance with historically low mortgage interest rates. Loan originators who have focused on maintaining relationships with and acting as advisers for their customers have been able to take advantage of the low-rate environment. “If they’ve created that positive customer experience the first-time through, then when borrowers look to refinance, their first call is usually to the individual they worked with the last time,” said William Parent, president and CEO of Envision Bank. “The really good mortgage loan originators have always been good advisers.” Continued on Page 10
$50,000 Compass’ Concierge program offers sellers up to $50,000 in financing for renovations to get a home ready for sale. See Heather Beasley Doyle’s story on page 9. Source: Compass
0.29 acres The size of the smallest lot in this week’s Gossip Report. See page 9. Source: The Warren Group
59 Agents have used the RealVitalize renovation program on 59 local listings so far. See Heather Beasley Doyle’s story on page 9. Source: Coldwell Banker
Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.
COMMERCIAL INTERESTS
THE CHALLENGERS
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Commercial Real Estate PAGE 7