Monthly Archives: July 2010

4 Easy Tips For Relocation Transferees

Moving is tough.  Besides the obvious difficulty associated with carving out financing and lugging lots of stuff (for lack of a better phrase) from your old location to someplace new, there are the adjustment challenges.  From navigating the neighborhood, or finding the best route to work, pinpointing that one restaurant or spot that inspires family joy to making sure you’re a hop, skip and a jump away from a great grocery store, there’s a lot of getting-used-to involved.

Now imagine all those challenges…but you are the CEO of a company about to undergo relocation to somewhere in the northeast and all your employees must be housed, comfortably, of course.  There are myriad more details to be aware of in this scenario.  You are not just dealing with coordinating your own move and addressing your own housing preferences, but those of your hardworking employees.  Ah the stress…

Well, many of these CEOs temporarily put aside their superhero, save-the-day aspirations and look for help in these kinds of situations.  And that’s when I’ll receive a phone call that goes much like this-   “Kim, we have a group of transferees who are looking to go out the day after tomorrow, can you please help them in getting a jump start on finding a place that best suits their needs?”   As Relocation Director at William Raveis, I receive calls like this everyday.  In fact, U.S. domestic member mobility trends as a whole are seeing a noticeable bump up-47%, to be exact-in relocation activity, according to a 2010 Employee Relocation Council (ERC) Pulse Survey.  So, people like me need to be prepared when we receive calls!  Here are a few tools I recommend to incoming transferees:

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6 Month Market Update: A Closer Look

As a follow-up to our prior post on quarterly housing numbers, let’s also take a look at how the market has fared for the first half of the year.  The chart below will illustrate some tremendous gains in key market indicators between the first 6 months of 2010 vs. the first 6 months of 2009:

A look at the Northeast – 1st 6 Months 2010 compared to 1st 6 Months 2009:

Average Sales Price

Single Family Condo
CT Up by 14.5% Up by 3.7%
MA Up by 9% Up by 8.8%
RI Up by 11% Up by 0.3%
Westchester County Up by 9.8% Down by 1.6%

Unit Sales

Single Family Condo
CT Up by 29.4% Up by 36%
MA Up by 26.4% Up by 34.2%
RI Up by 11.5% Up by 21.7%
Westchester County Up by 69% Up by 59.7%

Days on Market

Single Family Condo
CT Down by 7.5% Down by 8.4%
MA Down by 10% Down by 12.2%
RI Down by 79.6% Down by 74.2%
Westchester County Down by 4.9% Down by 4.4%

As our prior post indicated, a good part of the second quarter saw gains, however there are also concerns the expiration of the homebuyer tax credit may deflate the market.  In fact, May and June saw a significant decrease in new home sales and existing home sales.  In addition, lackluster consumer confidence numbers could  contribute to a slow recovery.  All in all, while we have made strong gains compared to the first 6 months of 2009, we still have a fairly steep mountain to climb before declaring a healthy real estate market.  For more information on your local market conditions, please visit the housing data matrix on raveis.com.

July 22, 2010

Market Outlook: How Is Your Town Doing?

The second quarter has come to an end and we’re receiving a bit of a reality check on the housing market.  There is some good and some not so good news to report.  Let’s take a look at some key numbers in the northeast to give you an idea of what I’m talking about.  In the past 6 months, we have seen a push up in the market due to the following factors:

  • Housing Tax Credit, which expired April 30th…The credit produced a flurry of activity in the market as people rushed to purchase & close on time
  • Historically low interest rates…under 5%
  • Increased consumer confidence (according to Realty Times, consumer confidence had been on a fairly steady upward trend for the past quarter or two)

And a closer look at more recent numbers in the northeast from this quarter compared to 2nd Q. last year:

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July 19, 2010

Reflection on Being Ranked the #1 Place to Work in Massachusetts

Chris Raveis reflects on William Raveis Real Estate, Mortgage and Insurance being honored by the esteemed Boston Business Journal as the #1 Place to work in Massachusetts.

httpv://www.youtube.com/watch?v=b97ttaklyPM

July 9, 2010