The Memphis area’s median home price saw a small decrease in the first quarter of 2024, according to data released by the Memphis Area Association of Realtors.
The median sales price decreased from $196,000 in the first quarter of 2023 to $189,000 in the same period this year, a 3.6% change. The association’s report includes data from Shelby, Tipton and Fayette counties.
Joel Hobson, principal broker and owner of Hobson Realtors, said the small overall decrease can be attributed to the market finally nearing some stability after the COVID pandemic. One aspect of the market that is evening out is interest rates.
“It’s going to be kind of an up-and-down situation on interest rates, I believe,” Hobson said. “I think these kind of interest rates that we have in the 6 to 7 (percent) range are probably going to become the new normal at some point.”
Hobson said that while he didn’t personally notice the small median decrease, relatively little change in home prices, up or down, is a good thing for both buyers and sellers.
“Most people that sell also buy,” Hobson said. “It’s great when they sell, but if they don’t know where they’re going to go, they end up not putting their house on the market because they don’t think they can find a house. So a more even market… is going to be good for everybody.”
Hobson’s overall assessment of the market in Memphis is a positive one, for both current residents and those looking to move to the Bluff City.
“Memphis is still the least expensive major city in the country to buy a house,” he said. “And people are figuring that out from all over the country.”
Here is a closer look at Memphis neighborhoods and the prices changes they saw in the first quarter.
TIPS FOR HOMEBUYERS:Thinking about buying your first home? What to know before your home-buying journey begins
Memphis-area home price decreases by neighborhood
Fortunately for Memphis buyers, several neighborhoods saw decreases in the median sales price over the first quarter of 2024. The data compares prices from January to March 2024 to the same period in 2023.
- Berclair had a modest decrease, going from a median price of $95,000 to $89,000, a 6.3% change.
- East Memphis saw a decrease of 2.4%, going from $205,000 to $200,000.
- Raleigh saw a 2.0% decrease, with the median price going from $148,000 to $145,000.
- Whitehaven saw the median price slightly drop from $116,300 to $114,750, a 1.6% decrease.
Memphis-area home price increases by neighborhood
Other Memphis neighborhoods saw increases in median sales price, although most were small increases. The data once again compares prices from January to March 2024 to the same period in 2023.
- South Memphis saw the largest increase to the median sales price in the city at 11.9%, up from $65,000 to $72,750. The area still remains the cheapest to buy in in the city.
- Southwind’s median price went up from $321,905 to $346,000, an increase of 7.5%.
- Midtown’s median price increased 3.4% increase, going up from $164,250 to $169,900.
- Hickory Hill saw a 1.6% increase, as the median price went from $172,250 to $175,000.
- Frayser had a 1.1% increase, with the price going from $90,000 to $91,000.
- Parkway Village had negligible increase, as the median price only went up from $120,000 to $120,450, or 0.4%.
Jacob Wilt is a reporter for The Commercial Appeal. You can reach him atjacob.wilt@commercialappeal.com.
They say April showers bring May flowers. This month also unloads a deluge of movies to watch at home.
Netflix, Amazon’s Prime Video, Peacock, Max, Apple TV+, Paramount+ and others have a spring fiesta of streaming options for film lovers of all tastes, from breezy romantic comedies to bone-chilling horror. There are recent theatrical releases, like an acclaimed Oscar-nominated Holocaust drama and one of the most Disney-fied Disney movies ever, but also original flicks such as Zack Snyder’s latest sci-fi epic and a Sundance Film Festival documentary about politically savvy teen girls.
Here are 15 notable new movies you can stream right now:
‘Argylle’
In director Matthew Vaughn’s madcap adventure, Bryce Dallas Howard plays a best-selling novelist who discovers that the fictional exploits of her secret-agent character (Henry Cavill) are coming uncannily close to things happening in real life, leading her to partner up with a shaggy actual spy (Sam Rockwell).
Where to watch:Apple TV+
‘Bob Marley: One Love’
So good as Malcolm X in “One Night in Miami,” Kingsley Ben-Adir notches another biopic highlight as reggae superstar Bob Marley. He’s effective at capturing the musician even if the movie meanders with a narrative set during the 1970s, as Marley tries to use his songs to bring together a politically divided Jamaica.
Where to watch: Paramount+
‘You don’t mess with Bob’:How Kingsley Ben-Adir channeled Bob Marley for ‘One Love’ movie
‘Drive-Away Dolls’
Margaret Qualley and Geraldine Viswanathan co-star in director Ethan Coen’s gonzo crime comedy as lesbian pals needing a change of pace who wind up behind the wheel of a rental car with a mysterious briefcase in the trunk. What unfurls is a noir-spattered road trip full of sex toys, decapitated heads and dimwitted goons.
Where to watch: Peacock
‘Drive-Away Dolls’ review:Talented cast steers a crime comedy with sex toys and absurdity
‘Girls State’
Amanda McBaine and Jesse Moss’ compelling follow-up to 2020’s “Boys State” centers on teenage Missouri girls placed in competing political parties who create a mock state government. Abortion is a hot-button issue in the proceedings, which include a competitive gubernatorial race and an investigation into Girls State itself.
Where to watch: Apple TV+
‘The Greatest Hits’
The car accident that killed her boyfriend (David Corenswet) left Harriet (Lucy Boynton) with head trauma and the ability to time-travel to a past moment with him when she hears certain songs. But obsessively searching for the right tune to save him in the past might cost her a new chance at romance in the present of this intriguing but overly earnest drama.
Where to watch: Hulu
‘Late Night With the Devil’
David Dastmalchian has a hell of a role in this retro horror flick, starring as a 1970s late-night TV host in desperate need of ratings. For a Halloween special, he brings on a girl supposedly possessed by a demon in a gambit that brings in eyeballs but spirals supernaturally out of control for everyone involved.
‘Lisa Frankenstein’
A horror rom-com about reanimated undead love and body-robbing shenanigans, “Lisa” is a playful and bloody teen-movie reimagining of the “Frankenstein” mythos. Kathryn Newton plays a 1980s goth girl and Cole Sprouse is a Victorian corpse resurrected amid lively characters and clever, sardonic dialogue.
Where to watch: Peacock
‘Frankenstein’ forever:‘Lisa Frankenstein,’ Oscar fave ‘Poor Things’ reclaim Mary Shelley’s feminist mythos
‘Migration’
In the animated comedy, Mack (voiced by Kumail Nanjiani) is the overprotective dad of a duck family who reluctantly agrees to a Jamaican getaway with his wife (Elizabeth Banks) and kids. However, they get sidetracked and wind up in New York City, where they meet a streetwise pigeon (Awkwafina) and a vicious chef.
Where to watch: Peacock
‘Música’
Rudy Mancuso co-writes, directs and stars in this delightfully clever romantic comedy as a creative New Jersey man with synesthesia, experiencing melodies and rhythms around him in extraordinary fashion. It exacerbates problems with an ex (Francesca Reale) yet fascinates a new love interest (Camila Mendes).
Where to watch: Prime Video
‘Night Swim’
Thinking about putting in a pool in the backyard? Well, think again. Wyatt Russell plays an ex-baseball star who moves into a new house with his wife (Oscar nominee Kerry Condon) and kids and feels swimming could be good for their souls, but the outdoor pool contains a dark force that doesn’t have fun in its plans.
Where to watch: Peacock
‘Rebel Moon − Part Two: The Scargiver’
Do you live for slow-motion scenes of people harvesting grain? Then director Zack Snyder has the sci-fi sequel for you. The first “Rebel Moon” was derivative and the second one is just dull, with ex-warrior Kora (Sofia Boutella) leading a band of underdogs and farmers against the invading army of the villainous Imperium.
Where to watch: Netflix
‘The Stranger’
So, yeah, Quibi turned out to be pretty much a streaming disaster. Still, the content was pretty good and is now finding new homes as real movies, not a piecemeal experiment: Director Veena Sud’s thriller ratchets up the suspense with Maika Monroe playing a rideshare driver and Dane DeHaan as the creepiest passenger ever.
Where to watch:Hulu
‘Talk to Me’
The best horror movie of last year was this haunting Australian indie chiller that introduced a new top-tier scream queen, Sophie Wilde, and a memorable scary-movie artifact: a mysterious embalmed hand that teens use to livestream freaky possessions that, of course, go terrifyingly awry.
Where to watch: Paramount+
‘Wish’
A tune-filled, big-hearted storybook fantasy that’s chock-full of Disney references. The animated musical features Ariana DeBose as an idealistic youngster who runs afoul of her kingdom’s narcissistic ruler (Chris Pine) and befriends an energetic star to help rescue her people’s wishes.
Where to watch: Disney+
‘The Zone of Interest’
Director Jonathan Glazer‘s best picture nominee centers on a German family going about their daily business. This banality, though, happens next door to Auschwitz, where gunshots, screams and the industrial sounds of ovens are the unnerving soundtrack that the characters ignore but you simply can’t in this disturbing yet essential Holocaust drama.
Where to watch: Max
With inflation picking up again and highly anticipated Federal Reserve interest rate cuts delayed, it may be a good time for Americans to tweak their investment and retirement portfolios, financial advisers say.
While U.S. rate cuts are on hold, the European Central Bank (ECB) suggested last week that its first rate cut could come in June. Though Europe’s economy is anemic compared to the U.S., those rate cuts could ignite more stock market growth that would benefit investors, advisers say. On the flipside, high U.S. rates could make U.S. fixed income a better investment.
“It’s an excellent time to buy U.S. bonds with yields near the highest levels since October 2023,” said James Sahagian, managing director of Ramapo Wealth Advisors at Steward Partners. “I also think it’s worthwhile to diversify outside of the U.S.”
Europe’s stock market is already on the rise
The Eurostoxx 50, comprised of European blue-chip stocks, is outperforming its U.S. counterpart, the Dow Jones Industrial Average. As of Tuesday, Eurostoxx 50’s one-year return is 15.77% and its year-to-date gain is 8.75%, according to Bloomberg. That compares to the Dow’s 13.91% and 0.29%, respectively.
Protect your assets: Best high-yield savings accounts of 2023
“In Europe, their economy’s starting to expand a little and (the ECB) can aid that by reducing rates a little,” said Derek Miser, investment advisor and chief executive at Miser Wealth Partners.
Europe has room to lower rates because “unlike in the United States, there is little evidence of overheating” to resurrect inflation, wrote Pierre-Olivier Gourinchas, economic counsellor and director of research at the International Monetary Fund (IMF) in a blog post about the IMF’s World Economic Outlook report released Tuesday.
The IMF also predicts Europe’s economy will expand, registering 1.5% growth by 2025, but U.S. growth will gradually slow to 1.9%.
How do lower rates help the economy?
Central banks often lower interest rates to jumpstart lackluster economies, as long as inflation is contained. Lower rates mean lower borrowing costs, which encourage people to spend and companies to invest. That, in turn, boosts corporate profits, production, output and the overall economy.
The opposite is true if central banks raise rates. Higher rates increase borrowing costs, which discourages spending and investing to slow down a hot economy and inflation. They also encourage saving because people can earn a higher return on their money.
Valuations
After a string of record highs for U.S. stocks, some financial advisers see the market as overextended compared with European stocks.
“European companies are considerably more attractive based on valuations,” Sahagian said. “That merits more consideration.”
At the end of March, Europe’s STOXX 600 index traded at about 15 times its one-year forward price-to-earnings (PE) ratio, while its U.S. counterpart S&P 500 index traded at 26 times, according to LSEG data. A lower PE multiple indicates a more attractive investment opportunity.
Bank of America’s global fund manager survey last month showed the largest allocation increase to European Union stocks since June 2020.
Stick with U.S. Treasuries
If U.S. rates are going to stay higher for longer now, investors should keep their Treasuries, which are yielding around 5%, advisers said.
It will also add some stability to your portfolio because it’s steady income, Miser said.
The secret’s out:The 3 secrets of 401(k) millionaires
What should my 401(k) look like if I take these steps?
Your allocation of stocks and bonds should always depend on your risk tolerance and how close you are to retirement, advisers say. The higher your risk tolerance or further away from retirement, the heavier the equity weighting, they say.
After you’ve decided your stock and bond allocation, you might consider taking 20% of whatever your equity position is and allocate it to a global investment fund, Miser said.
In the fixed-income portion of your portfolio, Sahagian likes the “barbell,” which means investing in short-term and long-term bonds. You gain from the high short-term interest rates while also locking in some decent long-term returns in case rates begin to fall.
Miser likes 40% in two- to five-year notes, 30% in 5- to 10-years and then the rest in 30-year bonds. The varying maturities give you the flexibility to reinvest money at various times and in various ways, including buying new Treasuries.
But with all retirement investments, consumers should consider what stage they are in life and what their goals and risk tolerance are before making moves, advisers said.
Are Costco gold bars a good investment?
Gold prices are near an all-time high around $2.400 per ounce, reflecting a “crisis of confidence,” Sahagian said. “People are looking at other assets that will hold up in the wake of uncertainties and upheaval.” They’re dissatisfied with government and monetary policy after the highest inflation in four decades and concurrent wars in Ukraine and Palestine, advisers said.
“Costco’s a trusted source (for buying things, including gold bars), and people are searching for alternative ways to invest,” Sahagian said. “Most cultures around the world value gold, like in India and Africa. So is it a good idea and liquid? Yes, you can monetize it at some point.”
Miser’s not so sure.
“Gold may have been a good idea 3-1/2 to 4 years ago when you could buy low and sell high,” he said. “That’s the opposite of buying gold now. Today, you’re buying at the highest it’s been in a long time, which typically means prices are reaching near their end.”
Costco gold bars may be better left as a novelty purchase, he said.
Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@usatoday.com and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.
A Milwaukee-based real estate developer plans to bring an apartment development to the former site of St. Bernard Congregation and Wauwatosa Catholic School in the Wauwatosa village. Here’s what to know.
Three Leaf Partners named as developer to purchase St. Bernard parish
Three Leaf Partners LLC submitted its plans for a three-story multi-family development at 7474 Harwood Ave. to the City of Wauwatosa weeks after parishioners learned St. Bernard would close to merge with its sister parish Christ King.
Rev. Phillip Bogacki, pastor of both parishes, told parishioners in a letter that parish leaders had chosen a developer to whom they would sell the St. Bernard property, but didn’t name Three Leaf Partners. Proceeds of the sale will serve as an infusion of cash to carry the newly merged parish forward, he said.
Three Leaf Partners, co-founded by Milwaukee Bucks guard Pat Connaughton, has developed hotels, multi-family apartment buildings and other projects around the Milwaukee area, Minnesota and Indiana. The firm developed the Honey Creek Apartments in Wauwatosa and is working on multi-family apartments and townhomes in Hartland.
St. Bernard property to be replaced by 163-unit apartment building
Three Leaf Partners’ plans would bring a 163-unit apartment building to the coveted property in the Wauwatosa village, plans by Milwaukee-based Korb + Associates Architects show.
One-bedroom units from 650 to 850 square feet would make up most of the building, while more spacious one-bedroom units from 850 to 950 square feet and two-bedroom units that are 1,150 to 1,250 square feet will also be available.
Below the three levels of apartment units, a basement garage will provide 187 parking spots for residents. Twenty-three parking spots north of the building are planned for visitors.
A courtyard will bring residents an outdoor space within the apartment complex’s walls, complete with grills and a fire pit. The building will include a storage area for bikes, a fitness room and club room, among other amenities.
How much will Three Leaf Partners’ apartment development on Harwood Avenue cost?
The project costs $46 million and Three Leaf Partners does not plan to ask for tax incremental financing, or TIF, according to the BizTimes, which first reported on the development.
Representatives of Three Leaf Partners did not immediately respond to requests for an interview.
The firm has sought out TIF in other projects, including $13 million in city financing help for an apartment project in West Allis.
Parts of St. Bernard’s history may be preserved in the new developments, plans show
Plans show that developers and architects may repurpose the bricks, stained glass and other aspects of the existing building that housed St. Bernard parish, which became Wauwatosa’s first Catholic church in 1911.
Construction on the current parish complex began in 1962. The parish property underwent extensive renovations starting in 2000, which brought new parish and school office centers, a gymnasium and an elevator, according to the parish website.
Rev. Bogacki said in his letter to parishoners that approval from the city for the developers’ plans may take six to nine months and that the parish will remain in their building during that time.
“If plans are approved, we can determine when to set moments to celebrate the good work of our past and pledge ourselves to a renewed future,” he wrote.
Will the new apartment replacing the St. Bernard property in Tosa’s village go before the Common Council?
The development meets the current zoning code and therefore does not need to go to the Common Council for approval, according to Eva Ennamorato, Wauwatosa’s communications manager.
“That’s unique when it comes to developments,” Ennamorato told the Milwaukee Journal Sentinel.
The development firm plans to present its plans at the Wauwatosa Design Review Board meeting Thursday, April 18 at 7 p.m. in the Common Council Chambers at Wauwatosa City Hall.
The in-person meeting will not be recorded, and residents can share their thoughts on the development during public comment, Ennamorato said. The development may need to go before the Board of Public Works or other boards to receive certain permits before construction can begin, according to Ennamorato.
Contact the reporter at bfogarty@gannett.com
Through the first two-and-a-half months of 2024, Volusia County has already seen the sale of at least 41 luxury homes for $1 million or more.
That number already exceeds the 38 million-dollar-plus homes sold during the first three months of last year.
Most, although not all, high-end homes in Volusia County are purchased in cash, according to Realtors. A few deals involve financing, but not as much as for homes sold for less than a million dollars. That’s why luxury home sales are not as affected by high interest rates as properties listed in lower price ranges.
Here’s a look at the top luxury home sales in Volusia County so far this year.
1. 1316 N. Peninsula Ave., New Smyrna Beach
SALE PRICE: $7.4 million
DATE SALE CLOSED: Feb. 7, 2024
DESCRIPTION: Built in 2005, this 3-story riverfront home has 5 bedrooms, 7 baths and 7,439 square feet of living space on a 0.41-acre lot. The open-concept floor plan includes floor-to-ceiling windows in the grand living area and panoramic views of the Indian River and surrounding landscape. The home includes a gourmet kitchen and a separate combination kitchen/family room. Outside, it offers an expansive terrace along with a pool, spa, covered patio and a dock and boat house with a boat lift. The property also includes an attached 2-car garage.
WHO HANDLED THE DEAL: The listing agent was Loretta Burn of Haven Waterfront Real Estate in Edgewater. The buyers were represented by G. Scott Yurchison of Collado Real Estate in New Smyrna Beach.
2. $5.18 million: 700 N. Peninsula Ave., New Smyrna Beach
SALE PRICE: $5.185 million
DATE SALE CLOSED: March 1
DESCRIPTION: Built in 2009, this 5-bedroom, 6-bath house along the Intracoastal Waterway offers 5,120-square-feet of living space and a 3.5-car garage. It sits on a half-acre lot with 57 feet of frontage along the river as well as a dock. The backyard includes a covered lanai and an outdoor kitchen as well as an infinity pool and spa and a view of the Ponce Inlet lighthouse located just a mile to the north.
WHO HANDLED THE DEAL: The listing agent was Realtor Terri Jackson of The Keyes Company in New Smyrna Beach. The buyers’ agent was Pat Collado, the broker/owner of Collado Real Estate in New Smyrna Beach.
More:Ormond mansion of Hawaiian Tropic’s Ron Rice finally sells for $3.6M
3. $3.6 million: 175 Ocean Shore Blvd., Ormond Beach
SALE PRICE: $3.6 milllion
DATE SALE CLOSED: March 15
DESCRIPTION: Built in 1987, this 4-bedroom, 5-bath oceanfront home was the longtime home of the late Hawaiian Tropic founder Ron Rice, who died in May 2022 at the age of 81. The massive three-story house offers 12,400 square feet of living space and sits on a full acre that includes 200 feet along the beach.
The home includes a room that Rice used as a discotheque modeled after the famous Studio 54 in New York City. The mansion’s crowning glory is its huge indoor pool adorned with statues of winged fairy nymphs that connects to one of the property’s two outdoor pools.
WHO HANDLED THE DEAL: The listing agent was Bill Navarra, the broker/owner of Realty Pros Assured in Ormond Beach. Navarra wound up representing both the Ron Rice Estate as well as the buyers, a couple from the Carolinas whose son plans to relocate from South Florida to live in the house.
4. $3.4 million: 357 N. Beach St., Ormond Beach
SALE PRICE: $3.4 million
DATE SALE CLOSED: March 4
DESCRIPTION: Built in 2012, this 4-bedroom, 4.5-bath riverfront home offers 6,813 square feet of living space. It sits on a 0.67-acre lot that includes 150 feet along the Halifax River as well as a refurbished dock. The backyard includes a pool and spa. The view from the house includes the river as well as the Granada Bridge.
WHO HANDLED THE DEAL: The listing agent was also the property’s seller, Janelle Mertins, a Realtor and former owner of Pegasus Realty & Associates in Ocala. Mertins bought the home two years ago as a vacation getaway. The buyers’ agents were Matthew Renshaw and Ann Alexander, both with Realty Pros Assured in Ormond Beach.
5. $3 million: 1000 Sudbury Lane, Ormond Beach
SALE PRICE: $3 million
DATE SALE CLOSED: March 15
DESCRIPTION: Built in 2021, this 5-bedroom, 6.5-bath custom home in Ormond Beach’s Plantation Bay community offers 5,835 square feet of living space and includes a four-car garage. It overlooks a golf course. The 1.03-acre property includes a pool, an outdoor kitchen, and a full bath. The house includes an additional apartment suite.
WHO HANDLED THE DEAL: Realtor Debbie Spelman of Venture Development Realty (based at Plantation Bay) represented the sellers. Her colleague at Venture Development Realtor, Realtor Carol Paquette, represented the buyers.
As the line between sports analysis and sports gambling content continues to blur, ESPN finds itself in a tricky gray area, especially with the recent launch of ESPN Bet, the network’s own sports betting platform.
ESPN host Rece Davis on Sunday offered a clarification for a comment he made earlier on “College GameDay” during a conversation with ESPN Bet analyst Erin Dolan.
Davis contended that “most recognized my comment was tongue-in-cheek” when he said Dolan’s advice to bet the under on Northwestern’s point total in its upcoming men’s basketball tournament game against Connecticut was “a risk-free investment.”
“Obviously, there are risks,” Davis wrote in a post on X, formerly Twitter. “Though I’m not a gambler, I strongly encourage those who do partake, do so with prudence, care, caution, fiscal and personal responsibility and never over-extend.”
The timing of Davis’ remark was unfortunate, coming on the heels of a brewing scandal in Major League Baseball over alleged illegal gambling activities by superstar Shohei Ohtani’s longtime interpreter.
Predictably, Davis faced a barrage of criticism on social media shortly after the segment aired, with one commenter pointing out that even sports betting companies in many states aren’t allowed to use the term “risk-free” in their ads anymore.
This week’s top-selling home in Acushnet is a spacious ranch that sold for $650,000.
This convenient one-level home at 15 Rock Cress Lane is located at the end of a cul de sac in MeadowBrook Estates.
With 1,674 square feet of living space, the open-floor planned home has high cathedral ceilings, gleaming hardwoods, and a pellet stove.
It features a large eat-in kitchen, a formal dining room, a cozy living room, and a separate laundry room. There is a grand entertainment space in the basement with a bar and private entrance.
Situated on over two acres of land surrounded by woodlands the private property has a two-car garage, a deck, and a shed. It was last sold in 2006 for $378,000.
Here are all of the residential property transfers recorded in the Greater New Bedford area this week according to The Warren Group.
ACUSHNET
7 Diane St $439,900.
Robert C. and Meghan R. Genereux to Erik J. and Noel L. Miles
2 Perkins Ln $485,000.
Olivier Rt and Sarah E. Petersen to Liam D. Manning and Carolan M. Kelley
15 Rock Cress Ln $650,000.
Antonio C Carvalho RET and Antonio C. CarvalhoJason and Crystal Santiago
BOURNE
40 Chartwell Dr $531,000.
Scott M. Dambrosio to Robert S. Montagna
3 Colony Ave $499,000.
Taylor Murkland to Tyler Cuozzo
20 Heritage Dr Unit 20 $320,000.
Michael W. Good to Kenneth Hermenegildo
32 Heritage Dr Unit 32 $201,000.
Carr Donna M St and Elizabeth Abromavage to Alf Property Mgmt LLC
9 Holly Hill Ct Unit 9 $695,000.
David C. and Sue R. Lindblom to Raynard C. and Cheryl D. Soon
82 Lake Dr $702,000.
Osprey Point Corp to Christopher M. Brungardt and Jamie E. Putnam
41 Noreast Dr $970,000.
Tassinari Ft and Mark P. Tassinari to Pechilis RET and William Pechilis
31 Rip Van Winkle Way $442,500.
Wayne F. and Mary E. Dudley to Jonathan and Jean Garvey
CARVER
11 Lillian Way $739,900.
Jake Pylant to Noah A. and Sasha Griffith
2 Shaw Rd Unit A $350,000.
Mador Construction LLC to Joseph Wilbur
DARTMOUTH
34 Alpha St $522,000.
Heidi A. and Brian J. Sylvia to Jmlk Nt and Lucie A. Kafka
28 Autumn Ct $647,000.
Mary E Silva Irt and Lorraine Almond to Joshua M. Montminy and Sarah Caudill
6 Bourgon St $360,000.
Sarah M. Souza to Bradley D. Nilsson and Melanie Chinea
7 Jenny Lind Way $680,000.
John M. and Virginia Perriera to Michael T. Cramc and Monique D. Crane
27 Lilac Dr Unit 27 $580,000.
Riana Yaman to Sergio C. Campos and Crystal B. Cote-Campos
16 Pike St $497,500.
Stefan and Ashley Salvador to Romeo J. and Michelle L. Igisomar
735 Reed Rd $395,000.
Catarina and Daniel M. Sylvia to Lori Camara
FAIRHAVEN
12 Brook Dr $500,000.
Skinner Ft and Jane E. Garcia to Daniel J. and Heather Pitiger
15 Harvard St $200,000.
Marcelle M. Jerome to Louis C. Bierig
50 Spring St $385,000.
Mary Machado RET and Peter W. Machado to Karina Sovik-Correia
FALL RIVER
92 Ballard St $760,000.
Hqv Homes LLC to Alba E. Aldana and Karla Maldonado
552 Bowen St $125,000.
Maria Andrade to Bristol County Homes Inc
104 Choate St Unit 6 $85,000.
Assist Realty Group LLC to Preferred Prop Soln LLC
104 Choate St Unit 1 $85,000.
Assist Realty Group LLC to Preferred Prop Soln LLC
104 Choate St Unit 2 $85,000.
Assist Realty Group LLC to Preferred Prop Soln LLC
750 Davol St Unit 814 $325,000.
Cordell B. Golson to Lj Realty Associates LLC
780 Dickinson St $545,000.
Peter A. and Raquel L. David to Leiriao LLC
233 Eagle St $380,000.
Mercurio T and Elizabeth Mercurio to Around The Clock Svcs Inc
449 Freelove St $460,000.
Richard P. Keating to Jason L. and Jennifer L. Darosa
219 Glasgow St Unit 1 $249,000.
Daniel Quintal to Fridah L. Kinyua
45 Lafayette St $288,000.
Sandy Medeiros to Paiva Brother Prop LLC
109 Langley St Unit 4 $175,000.
L J Realty Asspciates LLC to Resendes Investments LLC
785 N Main St Unit 2 $265,000.
Correira Deborah J Est and Chad E. Correira to Jessica J. and Robert J. Perry
1163 New Boston Rd $207,900.
Stephen F. Gardiner to Susan E. Gardiner
2039 Pleasant St $580,000.
Monsour H. and Nancy Hanoud to Edith Multy-Derogene
272 Savoie St $4,600,000.
Emanuel L. and Hope Sousa to Ryan Monsegue
135 Vale St Unit 4 $154,500.
John T. Garganta to Stefanie Touron
191 Winthrop St $200,000.
Matthew C. Cuvellier to Corey M. Cuvellier
LAKEVILLE
16 Country Club Ln Unit 16 $630,000.
Betty Ford 2020 T and Betty Ford to Jane M. Mahoney
1 Freetown St $349,000.
Joyce A. Demoranville and Mortgage Assets MgmtC Scott LLC
3 Violet St $374,000.
Williams Co-Star Re LLC to Perry E. Baker
MARION
9 Briggs Ter $405,000.
Deborah A. Thornhill and Dale C. Briggs to Corey and Peter Lorenco
MATTAPOISETT
52 County Rd Unit 32 $610,000.
Christopher D. and Meghan C. Barclay to Harvey Varnet Truts and Theresa M. Varnet
12 Old Mattapoisett Neck Rd $525,000.
Jayne M. Mello and Jeffrey J. Dupont to Daniel F. and Kate E. Marmelo
MIDDLEBORO
32 France St $535,000.
Michael and Colleen Peirce to Michael Baker
36 Keith St Unit 36 $412,000.
Maureen Meech to Melissa J. Poirier and Joseph A. Greca
NEW BEDFORD
234 Austin St $485,500.
Austin St 234 Rt and Christopher J. Dumont to Shavoryia G. Mcelroy
906 Belleville Ave $415,000.
Maria E. Fula and Leonisa Sousa to Ariel O. Colon
857 Brock Ave $287,000.
Lsf9 Master Participation and Us Bank TTr to Siarhei Hubarau
133 Chestnut St $550,000.
Maria S. Barros to Manuel P. and Maurisa Monteiro
105 Dawson St $404,000.
Correia Michael J Est and Susan J. Harrington toGoncalo D. Lima and Antonia V. Alves
178 Deerfield Rd $265,000.
Arthur J. Medeiros to Thornton Capital LLC
48 Hawthorn St $564,900.
Bradford J. and Kristy L. Allison to Deborah Crockett-Rice
963 Homestead St $300,000.
Erik J. and Noel L. Miles to Karina B. Almeida
2088 Phillips Rd Unit 13 $727,000.
Southcoast Holdings LLC to Middleboro Ark LLC
2094 Phillips Rd Unit 16 $128,000.
Eric L. and Nicole P. Olsen to Middleboro Ark LLC
2108 Phillips Rd Unit 32 $727,000.
Southcoast Holdings LLC to Middleboro Ark LLC
2108 Phillips Rd Unit 11 $727,000.
Southcoast Holdings LLC to Middleboro Ark LLC
2110 Phillips Rd Unit 12 $727,000.
Southcoast Holdings LLC to Middleboro Ark LLC
2120 Phillips Rd Unit 12 $727,000.
Southcoast Holdings LLC to Middleboro Ark LLC
2120 Phillips Rd Unit 30 $727,000.
Southcoast Holdings LLC to Middleboro Ark LLC
108 Pierce St $375,000.
108 Pierce St Irret and Jason A. Pacheco to Awilda Pizarro and Kervin O. Ortiz
1166 Sawyer St $400,000.
Vicky D. Rosa to Aaron Taylor and Kirsten Dacosta
182 Seabury St $330,000.
Louise P. Goulart to Melo Irt and Mario J. Melo
22 Viall St $549,000.
Ramdall L. Person to Jonathan Searles
ROCHESTER
163 Feather Bed Ln $451,000.
Demello Helen Edith Est and Sheri L. Adriano to Sean G. Meisch and Marijella E. Collins
87 Forbes Rd $735,000.
Bryan G. and Kathleen M. Burger to John Burke and Alana Pacheco
653 Walnut Plain Rd $441,750.
John P. Burke to Michael J. Christie
WAREHAM
2798 Cranberry Hwy $177,500.
Cascade Funding Mtg T Hb9 to Aij Realty Corp
1 Fir St $345,000.
Vandebulcke Rt and Scott S. Vandenbulcke to Sargo Int and William S. Sargo
6 Ladd Ave $460,750.
2012 Fund LLC to Great Neck Invs LLC
233 Marion Rd $165,000.
Btf Properties LLC to John M. Hancock
2 Short St $485,000.
Buckland Ft and Stephen J. Buckland to Jenny L. Mccracken and Jamie L. Fallon
Copyrighted material previously published in Banker & Tradesman/The Commercial Record, a weekly trade newspaper. It is reprinted with permission from the publisher, The Warren Group. For a searchable database of real estate transactions and property information, visit www.thewarrengroup.com.
This week’s top-selling home in Taunton is a remodeled two family that sold for $610,000.
This home at 647 Somerset Avenue has undergone significant upgrades to create a trendy and bright atmosphere. Built in 1880, the home has had a complete overhaul, it features new windows, flooring, and stunning tile.
With 1,636 square feet of living space, the first floor offers three spacious bedrooms, a modernized kitchen, and a lot of storage. The second floor has two large bedrooms and a kitchen with a walk-in pantry.
The property includes an inviting front porch and a two-car garage with an attached workshop. It was last sold in 2023 for $325,000.
Here are all of the residential property transfers recorded in the Greater Taunton area this week according to The Warren Group.
Dighton
1940 Putters Way, $642,500
Nelson, Jennie L Nelson, Randy to Salloum, Sammy
434 School St, $567,000
Daniel, Margaret E to Munson, Riley G Munson, Courtnee S
Raynham
20 Alvin Cir, $735,000
Liberman, Scott Liberman, Maureen to Klarou, Salomon
Taunton
602 Bay St, $528,000
Auguste, Thessie P Pierre, Darnley A to Depina, Maria R Darosa, Liziane
90 Lakeview Ave, $269,500
Medeiros Victoria J Est Medeiros, Michael M to Figara, Colby T Figara, Jeni N
55 Chester St, $400,000
Vicente, Herminia B to Fortuna, Pedro
16 Arthur St, $585,000
Fenton, David W to Hooker, Dane C
19 Ingell St, $425,000
Binda Realty LLC to Lawson, Anthony R Lawson, Desiree A
620 Somerset Ave, $455,900
Aspen Prop Group LLC to Lerebours, Katherine
65-R 1st St, $544,000
Meunier, Steven F Meunier, Debra to Massillon, Vanessa
150 Cullen St, $420,000
Brandao, Ana F Brandao, Joarez A to Naidjate, Boubakeur Kradra, Wafa
190 Winthrop St, $360,000
Snell Theckla H Est Helides, Joanne to Philips, George W Philips, Cynthia
647 Somerset Ave, $610,000
809 Central St LLC to Rodriguez-Pinto, Angel
166 Copley Dr, $577,000
Almeida, Alexander Silva, Andrea M to Trozzi, Amanda
Copyrighted material previously published in Banker & Tradesman/The Commercial Record, a weekly trade newspaper. It is reprinted with permission from the publisher, The Warren Group. For a searchable database of real estate transactions and property information, visit www.thewarrengroup.com.
DAYTONA BEACH − A new national ranking lists Deltona-Daytona Beach-Ormond Beach as the ninth-slowest metro area in the country to sell a house.
The ranking by CreditNews.com comes as a surprise to P.W. Mabry, president of the Daytona Beach Area Association of Realtors.
“We’re selling properties like crazy right now,” said Mabry, an agent with Re/Max Signature in Ormond Beach. “Our numbers (volume of homes sold) are going up.”
How did they come up with the ranking?
New York-based CreditNews.com based its ranking of the nation’s 10 fastest and 10 slowest metro areas to sell a house on data from real estate website Zillow.com, which found that it took a median of 39 days for a listing to be put under contract to be sold in the “Deltona” metro area in January.
“When referring to ‘Deltona,’ we meant the entire metro area, encompassing Deltona–Daytona Beach–Ormond Beach,” confirmed Dan Runkevicius, chief editor for CreditNow.com in an email. “The data was sourced from Zillow’s ‘for-sale inventory’ data set.’ Housing inventory was then adjusted to account for the size of the metro population.”
Florida Realtors Association data showed the “median time to contract” for existing single-family homes in Volusia County in January was actually 41 days, according to a copy of the report provided to The Daytona Beach News-Journal by the West Volusia Association of Realtors.
The Daytona Beach Area Association of Realtors reported that the median time to contract for properties listed by its members was 53 days.
The statewide median time to contract in January was 43 days, according to the Florida Realtors Association.
Nationally, the median time to contract for homes to be put under contract was 36 days in January, according to the National Association of Realtors.
It’s based on a ‘Zestimate’
Mabry said he takes data provided by Zillow with a grain of salt.
“(Real estate) brokers must click on a button that allows Zillow to get their information,” he said. “I know for a fact that not all brokers click on that button.”
“Zillow also has in small print on its reports that when they give you an appraisal value for a property that they call it a ‘Zestimate.’ That’s so they can’t be sued (if the information is incorrect),” said Mabry. “It’s their personal opinion.”
“We have people tell us all the time that ‘Zillow says my house should sell for a half-million dollars,’ but that’s not necessarily the case,” he added. “Their ‘Zestimates’ are only within 5% of the actual sale price of a home about half of the time.”
John Adams, president of Adams, Cameron & Co. Realtors in Daytona Beach, also expressed skepticism regarding Zillow’s latest ranking for the Deltona metro area.
“Zillow has a very good statistics team and generally produces good results, however, in this case, I can’t agree,” said Adams.
Adams, Cameron has 300 agents in eight offices in Volusia and Flagler counties, the most of any real estate brokerage in the combined two-county area.
Local market back to pre-pandemic levels?
Florida Realtors Association data for the Deltona-Daytona Beach-Ormond Beach area, which encompasses the combined Volusia County-Flagler County area, showed that the median time to contract for homes locally rose to 33 days in 2023, up from 13 days and 11 days in 2022 and 2021, respectively.
Despite the increase, the median time to contract remained lower than in 2019 (41 days), the year before the COVID-19 pandemic-fueled real estate boom in Florida began.
“I like the (Florida Realtors) view over time, because it is more objective,” said Adams.
What CreditNews had to say about its rankings
The report by CreditNews.com stated that its study “reveals a major shift in best-selling markets since the onset of Covid. None of the top fastest-selling metros pre-COVID remain on the list today, and vice versa.
“Part of the reason behind this realignment is different inventory levels across the nation − which, we found, has a strong connection with how fast listings sell.”
What do the latest local housing numbers say?
According to countywide data provided by the West Volusia Association of Realtors, Realtors in Volusia County sold 509 homes in January, up 3% from 494 a year ago. The median sale price rose to $350,000, up 4.8% from $333,990 in January 2023. The inventory of active listings climbed 21.8% year-over-year to 2,384, compared with 1,957 a year ago.
Still, the month’s supply for Volusia, meaning how long in theory it would take to deplete the inventory if no new listings are added, remained tight at 3.3 months, compared with 2.5 a year ago.
The statewide month’s supply in January was 3.8, according to Florida Realtors.
According to the National Association of Realtors, that means the local real estate market remains tilted somewhat in favor of sellers. “Historically, six months of supply is associated with moderate price appreciation, and a lower level of month’s supply tends to push prices up more rapidly,” the NAR website states.
Who else made the fastest and slowest lists?
According to CreditNews.com, the 10 fastest metro areas to sell a house in January, along with the median days on market, were as follows: 1. Hartford, Connecticut (8 days); 2. tie between Rochester and Syracuse, New York, and Harrisburg, Pennsylvania (9 days); 5. tie between Richmond, Virginia, Grand Rapids, Michigan, and New Haven, Connecticut (11 days); 8. tie between Boston and Worcester, Massachusetts, and Columbus, Ohio (12 days).
Jacksonville was the other Florida metro area, along with Deltona to make the 10 slowest metro areas list: 1. Austin, Texas (66 days); 2. McAllen, Texas (53 days); 3. Poughkeepsie, New York (51 days); 4. San Antonio, Texas (49 days); 5. New Orleans, Louisiana (48 days); 6. Jacksonville, Florida (42 days); 7. tie between Cape Coral, Florida, and Colorado Springs, Colorado (41 days); 9. Deltona, Florida (39 days); 10. New York, New York (37 days).
Why do some homes take longer to sell?
While some homes locally sell within days of being listed, others can go months without receiving an offer, often resulting in a lowering of the asking price.
“When homes sit on the market, there can be a lot of reasons,” said Mabry. “In some cases, it could be a property that requires extensive repairs or updating. Being over-priced is almost always the No. 1 reason. You have sellers out there trying to get top dollar for their home, in some cases against the advice of their Realtor.”
One of Americans’ biggest pet peeves – high inflation – seemed to be in retreat the past few months but the latest report revealed an unwelcome flare-up in January. Will a lesser-known price measure that the Federal Reserve follows more closely deliver better news?
Consumer confidence, meanwhile, has been recovering from some inflation-induced blahs. Will the February report highlight more good vibes or another mood swing?
And home prices have been in the doldrums because of high mortgage rates — although borrowing costs have eased a bit lately. Could that bear fruit in the latest reading on home prices?
This week’s economic news should help answer those and other questions that matter to your wallet. Here’s a sneak peek:
Are companies spending money?
30,000-foot view: Companies have been cautious about buying more factory machines, computers and other equipment recently because of high interest rates that make borrowing more expensive.
Protect your assets: Best high-yield savings accounts of 2023
But new orders for such long-lasting goods rose in November and December. Businesses have been encouraged by fading recession fears and the Federal Reserve’s expected interest rate cuts later this year, says Nomura economist Aichi Amemiya.
He estimates a key measure that excludes aircraft and defense-related items – a proxy for business investment – will show flat or slightly higher purchases in January when the Commerce Department releases the data on Tuesday.
You should care because: More capital spending means more growth for the economy and, generally, more hiring. After all, new machines typically need workers to run them.
Are house prices in the US dropping?
For home sellers, the past six months or so have been frustrating.
30,000-foot view: Monthly increases in home prices have steadily slowed since the middle of last year as rising mortgage rates discouraged housing sales. In November, the average home price in major metro areas fell for the first time in 10 months (before seasonal adjustments), according to the S&P CoreLogic Case-Shiller Home Price Index of 20 cities.
Nomura expects more of the same in S&P’s release of the December figures on Tuesday.
You should care because: Mortgage rates generally have dipped since late last year and that should lift home sales and prices in the months ahead, Nomura says.
Is consumer confidence high right now?
Americans have been feeling better about their finances and the economy lately but that could change quickly if the outlook darkens.
30,000-foot view: In January, consumer confidence reached the highest level since late 2021 on easing inflation, strong job growth, rising stock prices and the prospect of lower interest rates. Economists surveyed by Bloomberg estimate the Conference Board will announce Tuesday that confidence held steady in February while Nomura expects a slight uptick.
You should care because: The measure affects household spending and the economy.
Is US inflation cooling down?
Inflation seemed to be on a steady downward path until the Labor Department’s consumer price index (CPI) raised concerns earlier this month.
A core measure of the CPI, which excludes volatile food and energy items, rose a sharp 0.4% in January, keeping the annual increase at 3.9%. That led some economists to push out their forecast for the Federal Reserve’s first interest rate cut from May to a bit later this year.
30,000-foot view: On Thursday, the Commerce Department releases a different inflation gauge called the personal consumption expenditures (PCE) price index. The Fed keeps a closer eye on the core PCE index than the core CPI and economists expect a similar 0.4% rise in that PCE reading as another jump in rent as well as services such as health care, finance and insurance offsets roughly flat goods prices, Barclays says.
You should care because: That rise would be the largest monthly increase in a year, Nomura notes, but would still nudge down the annual increase from 2.9% to 2.8%, a bit closer to the Fed’s 2% goal. And economists still expect inflation to continue to drop in the coming months as rent increases slow.
The PCE report is also expected to show that consumer spending increased a modest 0.2% last month, well below December’s 0.7% leap.
Is US manufacturing in a recession?
The economy has been strong and resilient. But the nation’s manufacturers have barely felt it.
30,000-foot view: U.S. manufacturing activity has contracted for 15 straight months as consumers have shifted their spending from goods to services since the pandemic and businesses have grappled with high interest rates and bloated inventories.
You should care because: On Friday, the Institute for Supply Management is expected to announce that factory activity shrank yet again in February but the total activity level – which includes new orders, production, jobs and other elements – was likely the highest since October 2022. Nomura anticipates an even bigger improvement to just below expansion territory.