By Bill Wendel

Click on icons above for details of homes sold $100,000 or more over asking price from April 1 to May 15, the first six weeks of 2Q2014 in Cambridge, Boston & Somerville.

As Cambridge goes, so goes Lunenburg.​”​​  Really?  When a credible news source like the Boston Globe publishes statements like that, it’s time to ask what role the media has been playing in the return of self-perpetuating bidding wars in Boston and beyond?  Thank God, others — including at least one member of Boston.com team,...


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By Bill Wendel

To see how far winning bids are above or below original asking prices, run your cursor over individual sales in this scatterplot.  Each data point shows ($K over or under, as well as %).  Too zoom-in, drag a box across the area you want to expand.

Around the country, homebuilder associations showcase their new subdivisions with an annual “Parade of Homes; ” but blog comments on Boston.com’s post today about homely properties selling $86,000 to $126,000 over asking price in Cambridge might cause one to ask...


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By Bill Wendel

 

To see how far winning bids are above or below original asking prices, run your cursor over individual sales in this scatterplot.  Each data point shows ($K over or under, as well as %).  Too zoom-in, drag a box across the area you want to expand.

More than 24 hours after it’s publication, only six shares and one comment so far on Boston.com’s latest real estate blog post.  Is that because this “Bright spot for Buyers” is a boring spot or is something more serious going on?

Scan industry and mai...


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By Bill Wendel

48 Whitehall Zestimate 10yrs

 

Yesterday, the Boston Globe did it again — fanned bidding war fever in the region with another headline that read, Tight housing market drives rising bids:  Tight market drives escalation clause use.  Thankfully, the reader comment that has attracted the most LIKES may reflect a growing “bidding war backlash.” @Chrissie78 wrote:

“And in a year or two we will be hearing about how these people can’t afford their mortgages and that their mortgage is more than their home is worth…will we get to bail them out because

...

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By Bill Wendel

Cambridge Inventory 04/11/14 vs 2013

The headline, “Home buyers face tight inventories, rising prices this spring” followed a predictable script for the past two years, but the level of sensationalized reporting in the Boston Globe’s recent story may have crossed a line.  First a cash bidding war in Newton was reported without context, and second an alarming statement about inventory in Cambridge does not stand-up to cross-examination:

“In Cambridge, where listings plunged 65 percent from a year ago, …”
http://bit.ly/InventoryGate...


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By Bill Wendel

Cluster bid, under development at stealth location in Cambridge, seeks to transform runaway bidding wars into a "Force for Good"

CLUSTER BID under development at stealth location in Cambridge seeks to transform runaway bidding wars into a “Force for Good”

Tired of losing bidding wars, innovative DIY homebuyers in Cambridge, Massachusetts, one of the few cities in the world to have it’s own Peace Commission, are using the Social Enterprise Conference at Harvard Business School today to leak information about a “killer app” they are developing –

a cluster bomb designed to win bidding wars.

Last year, behavioral scientists...


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By Bill Wendel

Excerpt from broker facing MLS:

Named Exclusion

Concerned that the housing market this Spring could become irrational again, Boston.com’s real estate blogger raised questions today about the risks / rewards of waiving contingencies:

A buyer’s most foolish move

Yesterday, one of Real Estate Cafe’s DIY buyers received a conference call from a seller and their listing agent saying their offer was

the lowest of five competing buyers,

one had no financing contingency,

another had no inspection contingency.

However, the buyers...


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By Bill Wendel

 

Misled 2008 NYTimes

Rising prices and games real estate agents play have Home buyers feeling blue, according to recent national surveys. Thankfully, Boston.com’s blog post this morning provided stats from Zillow and Redfin, even if it’s a bit confusing to compare and make sense of them.  Regardless, the direction is obvious:

“Only 25 percent of house hunters across the country think it is a good time to buy now, compared to 40 percent last year, Redfin reports.”

Compare those numbers Trulia’s Real Estate Regrets Survey...


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By Bill Wendel

 MAgentMap_080912

Too many real estate agents?  Here’s one way to answer Boston.com’s question:  a map showing the distribution of real estate agents across Massachusetts courtesy of Matt Carroll, a former Boston Globe real estate reporter:

http://bit.ly/REAgentMap (click to search interactive map)

Beyond that simple question is a family fight between appraisers and agents about the lack of regulatory oversight and consumer protection. PLUS this complaint:  The appraisal industry took the brunt of the hit for...


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By Bill Wendel

 

Musical Chairs

In the documentary, Inequality for All, former Secretary of Labor / public policy professor Robert Reich uses an animated graphic (not the cartoon above) to describe the chain reactions and interrelationships that fuel economic cycles, both virtuous and vicious.

Do homebuyers need similar diagrams or parodies to expose the “speculative cycle” that is likely to peak this year, and the role of conflicts of interest in real estate?  YES, particularly right now, before sensationalized media coverage...


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