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OFFICE LOCATIONS:

143 East Central Street
Franklin, MA 02038
Office #508-528-1113

One Boston Place, Suite 2600
Boston, MA 02108
Office #617-858-0930

Bob Carey - #774-306-1342
Broker/Owner 

 

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Carey Realty Group, Inc. is a real estate firm specializing in all your real estate needs. Whether Selling, Buying, Building/New Construction, Builders/Investors seeking Land Acquisitions, Commercial, Leasing, Property Management, we have the resources to help you achieve your goals. 

Our expertise is the Boston/Metro West area, and our professional sales agents cover the entire Commonwealth of Massachusetts. While based out of Franklin, MA we have sold property on the north shore, western mass, south shore- as well as Cape Cod and in between. In addition we have a referral network to help us outside of our marketing area and beyond our borders as well. 

We look forward to working with you when it comes to any and all of your real estate needs - We are here for you - Give us a call for a free, no obligation, and confidential meeting - You will be glad you did!

              "Our #1 Goals is Customer Satisfaction

                         and Saving You Money!"

Real Estate News!!!

Latest Realty News from NAR

In Which States Did Properties Sell Quickly in September 2018?

In a monthly survey of REALTORS®, respondents reported that properties were typically on the market for 32 days (34 days on year ago), according to the  September 2018 REALTORS® Confidence Index Survey.[1]  However, the difference in median days in the current month compared to the same month last year has started to narrow as homebuying demand has eased and the inventory of homes for sale has slightly increased. In January and February of this year, properties were selling about one week less compared to the length of time in the same period one year ago.

During the July–September 2018, properties typically sold within one month in 27 states (32 states in August 2018).  Properties sold most quickly in South Dakota (20 days), Idaho (21), Washington (21 days), Rhode Island (21 days), Indianapolis (22 days), Kansas (23), Massachusetts (23), Ohio (23), Utah (23), Colorado (24), Nevada (24), Nebraska (24), Maine (24), and Michigan (24).  

That properties are still selling faster compared to one year ago is an indication that the supply of homes for sale is still inadequate compared to the demand for homes. Based on the REALTORS® Seller Traffic Index[2], home selling conditions were “weak” during July, August, and September 2018 compared to one year ago in the District of Columbia and in 28 states including California, Oregon, Colorado, New York, New Jersey, Massachusetts, Virginia, North Carolina, South Carolina, Georgia, Tennessee, and Florida.

 


[1] In generating the median days on market at the state level, NAR uses data for the last three surveys to have close to 30 observations. Small states such as AK, ND, SD, MT, VT, WY, WV, DE, and D.C., may have fewer than 30 observations.

[2] An index greater than 50 means that more respondents reported conditions relative to one year ago as “strong” than those that reported “weak.” Due to sampling, we categorize the index as “very weak” for 0 to 25; “weak” for values 25+ to 45; “stable” for values 45+ to 55; “strong” for values 55+ to 75; and “very strong” for values 75+.

September 2018 Housing Affordability Index

At the national level, housing affordability is up from last month but down from a year ago. Mortgage rates rose to 4.77 percent this September, up 14.9 percent compared to 4.15 percent a year ago.

  • Housing affordability declined from a year ago in September moving the index down 8.4 percent from 160.1 to 146.7. The median sales price for a single family home sold in September in the US was $260,500 up 4.6 percent from a year ago.
  • Nationally, mortgage rates were up 62 basis point from one year ago (one percentage point equals 100 basis points).

  • The payment as a percentage of income was down to 17 percent this September but up from 15.6 percent from a year ago. Regionally, the West has the highest payment at 23.7 percent of income. The South had the second highest payment at 16.5 percent followed by the Northeast at 16.4 percent. The Midwest had the lowest payment as a percentage of income at 13.5 percent.

  • Regionally, the West recorded the biggest increase in home prices at 7.0 percent. The Northeast had an increase of 5.3 percent while the South had a gain of 4.2 percent. The Midwest had the smallest growth in price of 2.2 percent.
  • Regionally, all four regions saw a decline in affordability from a year ago. The Northeast had the biggest drop in affordability of 9.0 percent. The South had a decline of 7.3 percent followed by the West that fell 6.8 percent. The Midwest had the smallest drop of 5.8 percent.
  • On a monthly basis, affordability is up from last month in all of the four regions. The Northeast had biggest gain of 5.5 percent. The Midwest had an incline of 4.2 percent followed by the South with an increase of 2.3 percent. The West had the smallest gain in affordability of 1.9 percent.
  • Despite month-to-month changes, the most affordable region was the Midwest, with an index value of 185.3. The least affordable region remained the West where the index was 105.4. For comparison, the index was 151.4 in the South, and 152.3 in the Northeast.

  • Mortgage applications are currently down. Mortgage rates are rising and home price growth is starting to slow down. Despite higher mortgage rates, lower home prices and increases inventory levels will help renters and potential home buyers enter the housing market. Home prices are up 4.6 percent outpacing median family incomes that are growing 3.1 percent.
  • What does housing affordability look like in your market? View the full data release here.
  • The Housing Affordability Index calculation assumes a 20 percent down payment and a 25 percent qualifying ratio (principal and interest payment to income). See further details on the methodology and assumptions behind the calculation here.

Third Quarter Single Family Metro Market Prices

The National Association of REALTORS® reported that quarterly home prices increased again this past quarter. Prices continued to rise, with 93% of the markets showing home price appreciation. While, single-family home price growth is slowing and median family incomes are rising, affordability has been declining. Knowing the mortgage rates and the qualifying incomes for down payments will help potential homeowners figure out what metro areas are affordable for them. Here is a look at the metro areas with the strongest price growth in the third quarter 2018, as well as a look at the yearly change in median existing single-family home prices for the top five highest and lowest growth metro areas of the third quarter 2018.

These are the top five single-family metro areas with the highest home price appreciation:

These are the bottom five single-family metro areas that had a decline in home price appreciation:

These are the most expensive metro areas for the third quarter 2018:

These are the least expensive metro areas for the third quarter 2018:

Qualifying Income Based on Sales Price of Existing Single-Family Homes for Metropolitan Areas by Region:

For the US, at the 5 percent down-payment threshold, the qualifying income amount for the third quarter of 2018 was $64,480. At the 10 percent down-payment mark, the qualifying income was $61,086, and with a 20 percent down-payment, the income required to qualify for a mortgage was $54,299. The West led all regions with the highest qualifying income while the Midwest had the lowest income for 5%, 10% and 20% down payments on a single-family home.

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Testimonials Page

My husband and I worked with Craig looking for our first home and we truly could not have had a better person to work with. Not only as a realtor is Craig extremely knowledgeable about the market and his profession, but as a person, Craig has such a kind and positive personality. He is always on top of new houses coming out on the market and always made himself available whether it was in person, over the phone, email, etc. House hunting can be a very stressful process and working with such a great realtor made it so much easier. With Carey realty you’re working with a genuine agency and genuine people. Very highly recommended! Jon and Victoria
Working with Carey Realty has truly been a total pleasure. A huge thank you to Craig and Bob for helping me find and purchase my first home --- navigating the process with patience and explaining each of the steps in a way that was both manageable and understandable for a first time home buyer. Craig was incredibly knowledgeable and responsive, willing to take any question, follow up on any concern, and see as many listings as I needed to before making the best decision possible. It is clear they put the needs and desires of their clients' first, which is what allows them to do such an excellent job at finding the right place, at the right price, and at the right time for any client or family. Their confidence and skill allowed me to trust in them completely, and then enjoy the process itself. I would recommend them to anyone looking for a realtor. Thank you so much! Sarah H.
We cannot say enough wonderful things about our experience with Carey Realty Group. From start to finish, Bob and Craig worked tirelessly to make sure both the buying and selling parts of our move were executed properly. Not only are they 100% knowledgeable in the field, they made themselves available to us 24/7 and were able to answer any and every question we had. Bob and Craig were advocates for us as both buyers and sellers in many aspects of the move and we absolutely believe we could not have done it without them! We highly recommend Carey Realty, without any reservations and would not hesitate to use them in the future. Patrick and Jackie McGuire
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