Market stability isn’t coming anytime soon! This was another volital week that seems to go up one day and sell off the next. Today’s May Retail Sales figure down 1.2% was the biggest decline in the past 8 months. The key questions going forward are, does this have anything to do with the unemployment rate currently at 9.7% and is the consumer all done spending or will they be back? Retail Sales measures the pulse of the consumer and is a key indicator of how the economy may be doing. On the flip side, it seems that the confidence level of the consumer is doing okay. Consumer Sentiment in June (prelim) was up to 75.5% VS May’s figure of 73.6%.

Mortgage applications decreased 5.7% this past week and is down 30.4% since Memorial Day week last year. This is a huge figure and no doubt directly correlated with the ending of the Home Buyer Tax Credit Program. Many people are concerned about weakness coming back to the housing sector. It is still my opinion that there hasn’t been a better time to buy in the past 20+ years. Mortgage rates have been stable and this is great for the housing market. 30 Year Fixed Rate National average was down alittle to 4.81% and the 15 Year Fixed Rate average rose slightly to 4.26%. Home prices gained .9% in April month over month but, down 2.8% year over year.

Yesterday the market saw it’s 3rd best day in 2010 and was up 273 points. It is my opinion which is also shared with alot of other Wall Streeter’s that you should be buying on the dips and selling into the rallies. This is how I would be trading in a market like this. The days of long term investing is gone for right now and the key is to preserve as much of your capital as possible.

Many things still trouble the markets and a resolution to these things don’t seem likely anytime soon. BP’s Oil Disaster is a huge burden, as well as the potential credit crisis spreading in Europe. However, today’s auction of the Spain and Italy Bonds (which went well) seem to indicate the debt issue may not be as bad as people had expected. The Euro stabilizing is another positive sign. I feel gold hitting an all time high on Tuesday $1,245 an ounce is an extremely negative factor hanging over the market and an indication that the market / people feel the debt crisis may not be over. I still believe that if you want our economy to grow we have to stop the massive government spending and cut taxes across the board to promote growth. Since this isn’t the way the current administration is heading (actually directly the opposite) we may be in for some turbulent times ahead.

Big sell off as a weak Jobs Report casts a dark cloud over Wall Street! This seems as though its exactly were we left off last month after seeing the worst decline for the month of May since 1962! This week was all about the continuation of BP‘s Oil Spill Disaster, Jobs Report, and Housing Data.

Today’s Jobs Report was a disappointing figure. The market opened lower this morning with this terrible number and the sell off continued to accelerate throughout the day dropping below 10,000 down 310 points to 9,946. The Department of Labor said that Jobs grew by 431,000 in May but, went on to say that nearly all those jobs were temporary census workers. There were 411,000 census workers added and only 41,000 private sector jobs created. The unemployment rate dipped slightly to 9.7% however there are still 4.66 million continuing to receive jobless benefits. I find this figure to be a huge smoke screen! Why should temporary work be classified as employment? Isn’t the goal of employment to be employed for a long period of time? What happens when this work ends? Will these people then be able to file for unemployment? Sounds like a horrible scenario to me!

Pending Home Sales were up 6% in April and the Index is up 22.4% year over year. Pending Home Sales in the Northeast were up 29.5% in the month of April. These are contracts signed not closed. Many Realtor’s surveyed are unsure if these homes will closes by the June 30th Home Buyer Tax Credit deadline due to the overwhelming amount of short sales and appraisals that are taking longer than expected. May will be the 1st month in 16 months that the Government isn’t paying people to buy homes. I have been saying for quite a long time that these numbers are lagging indicators (old data) and the real news will be what happens after the June 30th date.

Mortgage applications to purchase homes dropped 4.1% this past week. It was down the 4th straight week and down a staggering 40% from last month which is the lowest level since April of 1997! Mortgage rates remain low which is good for the housing market. The 30 year fixed rate national average is at 4.625% and the 15 year fixed rate average is 4.125%.

Out of all the news, I think the most disturbing is the continued failed efforts by BP to stop the oil from pouring into the Gulf of Mexico. I just can’t fathom why it has taken so long to get this thing shut off? It’s also baffling that the oil industry as a whole doesn’t have methods in place for times like these when things go horribly wrong. My heart goes out to all those people in the Gulf that are affected. It’s a terrible situation with no real answer of what the long term effects will be.

Looking ahead we have some big challenges to be dealt with. For me, a major question is how long this economy can run effectively not running on all 8 cylinders? I think there are some major issues abroad in Europe with the credit issues looming to other countries and in China that need to be addressed! What happens if China Real Estate Market (bubble) experiences a similar situation we did in the U.S.?

The employment issue is defiantly a problem as well. The Government needs to give back to small business to encourage employment. That is the only way to grow our economy. Entitlement programs need to be cut, extending unemployment benefits is not the way to get people back to work.

The long term affects of this oil disaster will also have a huge impact moving forward. The amount of work that could be lost along the Gulf Coast could be catastrophic! Some analysts say the loss of jobs alone in the tourism industry could be greater than the fishing industry as a whole. That is a scary thought! I pray that the efforts are successful and things can get back to some sort of normality for these folks.

As goes the economy so does the market? It has seemed like a popular trend the month of May which has seen the DOW down 7.9%! The markets volatility has become an everyday occurrence. Ending the week pretty much flat but, giving you an ulcer if you happen to follow the markets. This was the worst May the Stock Market has seen since 1962! The $64,000 question on the street is whether or not we go into a double dip recession and or if European Credit Crisis spreads into other countries. To top it off with recent issues with North Korea, we can see what is troubling the markets.

The good side of all this is that oil has back off recent highs falling to around $73.50 a barrel. Rates have remained low, which is great for the housing market. The 30 year fixed rate national average is at 4.80% and the 15 year fixed rate average is 4.25%. The troubling news is that the purchase application index fell again this week 3.3% and after last weeks fall of 27.1% Existing Home Sales jumped to 5 month highs in April up 7.6%. Inventories were up 8.4% month supply and sales were up 21.1% in the Northeast year over year. 1st time home buyers accounted for 1/2 of the people buying. These are all lagging indicators and old data. It is pretty clear that the end of the Home Buyer Tax Credit Program had a tremendous effect on the housing market. I feel as though that is a bad thing because the problem going forward is, what is going to stimulate people now? The question now will be what happens in May and June?

Consumer Confidence Index was at 63.3% in May vs. April’s reading of 57.7% The next month will give us a great gauge on what the future has in store for us. The keys going forward will be the Unemployment Rate and the pulse of the consumer. Consumer Spending was unchanged for the month of April and the first time jobless claims fell 460,000 down 14,000. Consumer Sentiment for May was 73.6 which was better than expected. This measures the consumers mood.

My issue is that the way out of a financial problem is for the Government to cut taxes on business which gives the private sector an incentive to expand and create more jobs. It is clear that the unemployment rate which is currently at 9.8% will not be decreasing anytime soon. The Government can not expect prosperity by creating temporary employment like they have with the census workers. The way to economic prosperity is to encourage productivity and innovations. That leads to better products and services which then creates jobs.

This was another very volatile week for the stock market. After last weeks Dow plunging 998.50 points in the mater of 5 minutes it was a very important week to see if that trend continued. The market open up huge on Monday with a more than 350 point surge but after almost breaking 11,000 the market leveled off to being up 234 for the week.

Retail Sales for April was up .4%. Retail Sales measures consumer spending. The core rate which excludes auto, gas, and building materials fell .2% which was the biggest decline in a year. Consumer Sentiment rose in May to 73.3% from April’s 72.2% Luxury spending is back on the rise as the economy tries to rebound. Gold hit a record high on Wednesday to reach $1,249.70 an Oz. as much of Europe looks to Gold as a safe haven as worries about the next Bail Out rumors spread. Oil surprisingly has been down as it closed down $2.42 on Friday to $71.98 a barrel.

30 Year Fixed Rate Average fell to 4.96% as the 15 Year Fixed Rate Average fell to 4.32%. This is the lowest level rates have been in the year. Foreclosure filings were down 9% in April, as Bank Repossessions were up a whopping 45% from last year! The expiration of the Home Buyer Tax Credit program has already effected the housing market. Purchase apps for the week were down 9.5% and sellers are being more aggressive with their prices. In some areas, we’ve seen a 10% drop in price to off set the popular tax buyer incentive program.

The question going forward is going to be what happens with home sales going forward without this program in place and how it will affect the rest of the market. Other things to keep an eye out for is other European Countries falling subject to a Bail Out. Obviously, another Terrorist Attack will also affect the market. We were extremely lucky last week to avoid a major problem and fortunately it seems the Government is doing a good job being one step ahead of these criminals!

Have we come out of a recession and recovered? I would say it’s too early to tell but, hopefully it wont be a double dip recession that some analysts have started to talk about.

About the Me: The above Real Estate information was provided by Greg Afarian, l can be reached via email or send me a message on Twiter.  Have a home to sell on the NorthShore in Mass? I’ll help you with my social media skills for a quick transaction to help save you time and money. I service the following towns in Boston and the Greater Boston Area: Andover, North Andover, Lawrence, Methuen, Haverhill, Boxford, Bradford, Dracut, Reading, North Reading, and beyond.

The Town of North Andover is located in Essex County in the northeastern part of Massachusetts on the banks of the Merrimack River and approximately 24 miles from Boston.  North Andover is bordered by the towns of Andover, North Reading, Boxford, and Middleton and the cities of Methuen, Haverhill, and Lawrence – covering almost 27 square miles.

Reverend John Woodbridge paid to Indian Chief Cutshmache six pounds and a coat for Cochichewick Plantation in 1646. The Great Seal of the Town of North Andover depicts  Lake Cochichewick meaning “place of great cascades”.  This was soon changed to Andover in honor of Andover, England, the birthplace of the original freeholders.  The dispute over location of church sites came before the General Court in 1709 and the North Parish and South Parish were established.  The growth of the two different communities of interest led finally to the separation of the two parishes on April 7, 1855, into two distinct townships.  North Andover has always cherished its North Parish roots.  Anne Bradstreet became America’s first published woman poet in the 1650.  This remarkable woman of frail health raised eight children in the wilderness and died in North Andover in 1672.  The Stevens Memorial Library houses this comprehensive collection.  The North Parish Church was the Town’s original meeting place and is the focal point of our “Old Center”.

The Parson Barnard House, North Andover Historical Society, Stevens Coolidge House, The Stevens Estate at Osgood Hill, our Brick Store in the historic center, and the Phillips Brooks Statue on the North Andover Common are other historic destinations.

The Town of North Andover is home to almost 30,000 people.  North Andover takes great pride in providing excellent education for all our students.  All five elementary schools, our Middle School, North Andover High School, and the Greater Lawrence Technical School, reflect our rich tradition and accomplishments.  Community growth necessitated school building projects to meet its expanding needs.  These projects included the new Annie Sargent Elementary School, the new Thomson School, a complete renovation of our Middle School, and the new North Andover High School and stadium.  The “North Andover High School Scarlet Knights” of today carry on a rich tradition of competition and sportsmanship through all its athletic endeavors.  The North Andover High School Marching Band, Chorus, Drama, Arts Programs, and other extra-curricular activities provide excellent learning opportunities and experiences. North Andover was selected by Money Magazine in 2003 as the “Fifth Best Community to live in on the  East Coast”.

Virtual Media Realty is located at 18 Waverly Rd. North Andover, MA.

We are conveniently located close to RT 495, 125, 114 and centrally located 30 minutes north of Boston.

We were founded with the mission to bring cutting edge technology of social media to the Merrimack Valley Area and Greater Boston.  Since 90% of Home Buyers and Sellers intial search starts online, Virtual Media Realty has a huge competitive advantage by bringing tools like Video, Twitter, Facebook, Blogs, Photo’s, and Real Time Video to the consumers to help them make better decisions and bring transparency to the home buying / selling process.

When asked about how Virtual Media Realty is different than other Real Estate Companies, Greg Afarian, Virtual Media Realty Realtor specializing in the Andover, North Andover area’s along with the Greater Boston Real Estate Market, remarked, “We can do things no other Real Estate Agency can do anywhere.  We offer real time viewing of properties for clients that need to see properties, but either can not make it to the viewing locally, or are from out of state or out of country.  We can do all this in real time as we are walking thorough the property and potential buyers and clients can view the property in real time and ask our agents questions while we are on site.  There is No other agency in the country that can do that, and that is just one of many cutting edge technologies that we offer at no additional cost to our clients.”  Greg continues to say, “Our main goal is to offer a real estate experience like no other.  People are a lot more educated in the home buying process nowadays and we just want to make sure they have all the tools and answers to make the right decision.  With the advent of Social Networking, online reputation management, and Real Time Video Streaming, we offer our selling clients an extremely unique means of selling property that is extremely effective and utilized in such a way that minimizes the time a property will stay on market before being SOLD.”

Greg continues, “It’s all about the number of eyeballs we can get to view the property…it is truly a numbers game in this market.  The more people that see the property, the more likely the property will sell that much faster and we can certainly get alot of eyeballs on our clients properties”

Virtual Media Realty is always looking for agents to join the team that want to embrace new technologies and stay ahead of the curve in technology that is clearly here to stay.

Hours of Operation:

Monday thru Friday             10 am to 5 pm

or by appointment after normal business hours

Saturday and Sunday           By Appointment Only

Directions

From the South / Boston Area

Take the ramp onto I-93 N to exit 44A
to merge onto I-495 N toward Lawrence, to exit 43 for Mass. Ave toward N Andover
Merge onto Massachusetts Ave Turn left at Waverly Rd

From the North / Haverhill Area Take RT 495 South

Head south on MA-125 S/Main St toward Park Way
Continue to follow MA-125 S right at Sutton St
Turn left at Main St then right at Waverly Rd

Nathaniel Stevens was a prominent textile manufacturer in North Andover and Essex County. He began operation of the Stevens Mill in 1813.  His family was one of the original founders of North Andover.

The North Andover Mills were in operation from 1820 to 1899. In 1876 Stevens dissolved Nathaniel Stevens & Son. Stevens and his brothers continued the business separately. His three sons, Nathaniel, Samuel, and Moses, became partners in the business in 1886 and the firm became M. T. Stevens & Sons.

Moses Tyler Stevens and his family founded and funded Stevens Memorial Library in 1906 in dedication to his Father Nathaniel. The library had a major addition in 1994.

The Library District is amongst one of the most sought after neighborhoods in North Andover. The tree lined streets and older colonial homes which date

back to the early 1900′s give this area an uncommon characteristic.

Hours and Directions

Winter Hours

• Monday – Thursday   9 a.m. – 9 p.m.
• Friday – Saturday      9 a.m. – 5 p.m.
• Sunday                      2 p.m. – 5 p.m.

Summer Hours

• Monday – Thursday  9 a.m. – 9 p.m.
• Friday                       9 a.m. – 5 p.m.
• Saturday & Sunday    CLOSED

Directions
From Rte. 495 North to Exit 43, take a right off the ramp. From Rte. 495 south to Exit 43, take a left off the ramp. Go to second set of lights and take a left onto Chickering Road (Rte. 125). At the next set of lights, take a left onto Main Street (North Andover Middle School is on your left). The Library is about 1/2 mile down the road on the left.

Thomson School District is a beautiful area of North Andover, MA in Essex County. Located conveniently to Routes 495, RT133, RT114, and RT 125 it is a perfect setting for a growing family in a classic New England setting.

The school was established in memory of Albert E. Thompson in 1924. The original school was a one room school house.

Thompson, the North Andover native joined the Army when he was only 15, dropping the “p” in his name so he could fake his age. The enlistment age was 18 and did this to not risk being tracked down. He was the town’s first soldier killed in World War I. The Thomson Elementary School was rebuilt in 1948 and then totally redesigned in the early 1999.

Located at 266 Waverly Rd. North Andover, MA 01845 and the school is home to more than 400 students which ranges from ages of K-5.

The 1st property is a 3,086 Sq. Ft. Colonial 9 Room, 4 Bedroom, 2 1/2 Bath located in North Andover. Nothing to do but to move in, asking price $649,900.

The 2nd is a 2,159 Sq Ft. Cape 8 Rooms, 4 Bedrooms, 2 1/2 Baths located in North Andover. Totally remodeled with a heated pool. This property is being offered at $539,900.

The 3rd is a 1,456 Sq Ft. Gambrel 7 Rooms, 3 Bedrooms, 2 Full Baths located in North Andover. This house is very affordable and is being offered at $359,900.

About the Me: The above Real Estate information was provided by Greg Afarian, l can be reached via email or send me a message on Twitter
Have a home to sell on the NorthShore in Mass? I’ll help you with my social media skills for a quick transaction to help save you time and money.
We service the following towns in Boston and the Greater Boston Area. Andover, North Andover, Lawrence, Methuen, Haverhill, Boxford, Bradford, Dracut, Reading, North Reading, and beyond.