Malden in the Fall and Foreclosures

Malden is a great place to be in the fall. The city offers great colors throughout the city. The photo above was taken up at Forestdale Cemetary a few years ago. The cemetery offers a unique glimpse into Malden's past, with a number of Malden residents who have contributed in some way to community and country.

This year has been no exception, and most likely due to the very dry summer, the colors have been even more vibrant.

The real estate market has not settled back into a growth mode yet. The number of foreclosure deeds filed with the Southern Middlesex County Registry of deeds has increased slightly on a year to date number over last. This time last year, Malden saw 92 foreclosures. This year, there are been 109 foreclosures, an increase of 18.4%.

There were a total of 105 foreclosures in Malden last year, so we are already surpassed last year's total. How high 2010 will be will depend on a number of factors , including the overall growht of the economy

As for the current market itself, the average days on market for a single family home is 116 days, for condos it is 124 days, and for multi families it is 122 days.

The numbers of days on market is not surprising for condos, since Malden has seen an uptick in the number of foreclosures in this segment of the market.

Please call me if you have any questions, or are interested in a free consulation.

Have a great week!

Paul Weston
Tel: 617-755-0195
http://www.liveinmalden.com/

What not to do with your old home, and some changes in the Downtown restaurant scene.

This has been ticking me off for some time now, and wanted to share with you what I would consider a bad move in terms of maintaining and caring for your home.






Vinyl siding can be a benefit to home, however there are some downside to putting it on an older home, especially one built before 1900.

The property at 15 Cedar Street in Malden is, according to the City Of Malden's website, ..."was built by Thomas Odorne, one of Malden's early captains of industry. He and his brother opened a nail rolling and cutting mill in 1804, at the beginning of Malden's thriving factory era."




In order to put up the vinyl siding, the owner decided to chop away at the exterior detailing above the windows(in picture above) and along the top of the second floor(picture to left), destroying the character and more importantly the value of the home itself.



As promised from my last post, I wanted to briefly talk about the many restaurants in the city. One of the newest places to open up is District 7, located on Pleasant Street, across from My Honey Fitz. Check them out at http://district7pub.com/, as well as some of the reviews at

http://www.yelp.com/biz/district-7-malden

In addition, All Seasons Table is expanding and looks like the addition will be open soon. Let us know if you hear anything.

As for the real estate markets, Bank of America and several other large lenders have halted foreclosures to take a closer look at the many problems and issues that have arisen. We are going to refrain from commenting on some of the stories we've been reading about.

As always, if you are looking to sell, buy, rent(landlord and tenants), please do not hesitate to call me directly at 617-755-0195.

Paul Weston
Kelmark Associates

http://www.liveinmalden.com/

Welcome!!!

Hi All,

As we end September and move into October, a number of events has happened over the last few week that are worth mentioning. On Sept 23rd, Malden Access Television(http://www.matv.org/) had it's annual meeting. It was a great success! A number of local restaurants donated some of the dishes to feed our members. We also had MATV members come up with their own creations. The climax of the evening was the election to fill a seat on the Board of Directors. We are pleased to welcome DJ Nomadik to the Board. A big thank you to Richard Amirault , who is stepping down after 2 terms, for all his work.

In addition, the Harvest Moon festival took place at Fellsmere Pond. Many thanks to the Chinese Cultural Connection and the Oak Grove Improvement Association for a great job!

Properties are still selling in Malden, and there are buying opprtunities. On the market in Malden are:


Single Family Homes: 80 listings; Ave. List Price: $298, 190 Ave Days on Market: 125
Condos: 76 listings, Ave. List Price:$215, 648 ($201 per sq ft); Ave. Days on Market: 107
Multis: 63 listings; Ave. List Price Ave.: $390,873; Ave. Days on Market: 108


Interest rates remain below 5%. This is a great time to buy or refinance an existing mortgage.


Please visit my website at http://www.liveinmalden.com/. I can be reached at 617-755-0195, if you are interested in selling or purchasing a home in the Malden area.

Paul Weston
Kelmark Associates



Next Week: Malden Restaurants