Springtime in Malden: Updated Market Report, Walking Trails at Pine Banks and Upcoming Events

Hi All!
The colors in Malden this spring at incredible. The photo above was taken up at the Forestdale Cemetery a couple of weeks ago. Elsewhere around the city, Malden is in full bloom. This defeintely makes up for the the miserable winter we had.

And speaking of laying the ground work, the real estate market is coming around. Properties are moving, but expect that the any loan approval still take more time.

Malden by the Numbers:
Single Family Listings: 63 Average List Price: $296,957 Average Market Time: 118.81

Condominium Listings: 68 Average List Price: $205,377 Average Market Time: 108.09 Average List Price per Square Foot: $198

Multi-Family Listings: 55 Average List Price: $448,951 Average Market Time: 149.45


Pine Banks Park Walking Trails:
Did you know that there are marked walking trails at Pine Banks Park? These trails start off at the soccer field, and head up behind Forestdale and Wyoming Cemeteries.

Up and coming Events in Malden:

Annual Waitts Mount Spring Clean Up: Saturday, May 14th; 9:00-Noon

2nd Annual WalkMalden River Walk: Saturday, May 21, 2010 9 a.m. - 11 a.m, Rain Date Sunday, May 22. For more info,

go to http://www.combinedproperties.com/riverwalk.html.

MATV Week: Monday May 16 - 21; Check out www.matv.org for all the events planned for that week.

Saturday is the live open studio broadcast from 1:00 PM - 9:00 PM at the MATV Studios. All are welcome to attend and watch the lives bands and in studio interviews direct from downtown Malden!

Enjoy!

Paul Weston

Kelmark Associates

Telephone: 617-755-0915

Email: PHWeston@comcast.net

Website: www.liveinmalden.com

Malden Reads, Bike to the Sea and the Spring Market!

Spring is right around the corner. The photo above was taken a few years back in my yard of the crocouses that come up every year. Malden in the spring is a colorful place, and I cannot wait to see what is in store for this year.

In the mean time, things keep moving along and there are plenty of things to do. I had the opportunity to attend last night's screening of the movie "The Soloist", starring Robert Downing Jr. and Jamie Foxx, at the Senior Center in downtown Malden. The showing was done in conjunction with the Malden Reads program being put on by the Malden Public Library.

After the showing, a discussion was moderated by MATV Executive Director Ron Cox, focusing how the movie compared to the book version.

I happen to run into my neighbor, Clay Lawson, who is a member of Bike to the Sea. Clay informed me of a couple of updates to the project. First, the City of Everett is moving ahead with it's section of the trail. We may see construction of that section begin soon.

Bike to the Sea is enlisting the a company that specializes in removing old railways, including rails and railroad ties. This will help reduce costs. In the Malden section, the City approved about $1.5 Million in funding from the new local sales tax to be used for design and construction of the path.

Clay also mentioned that he is involved with dealing with the many street crossings that the path will take, most notebly at Centre Street/Route 60 behind the High School, the Broadway/Route 99 crossing, and the Linden Square crossings. These intersections will represent a challenges, due to the high volume of auto traffic .

Now, back to Real Estate!

The real estate market is showing signs of improvement. The National Association of Realtors
reported that the time properties are spending between going under agreement and finally sold is shortening. This is an encouraging sign, in wake of the financial crisis over the last few years. Still lending does remain tight, and we recommend getting pre-approved before looking for a new home.

Malden by the Numbers:

Single Family Listings: 56 Average List Price: $294,820 Average Market Time: 157.98

Condominium Listings: 53 Average List Price: $206,476 Average Market Time: 139.17 Average List Price per Square Foot: $204

Multi-Family Listings: 49 Average List Price: $370,790 Average Market Time: 174.76

Please call me if you are looking to buy, sell, or just have a real estate related question anserwed. I can be reached at 617-755-0195, or by email at phweston@comcast.net.

Paul Weston

Kelmark Associates
www.liveinmalden.com

Mass Supreme Judicial Court rules against lenders on foreclosures

In a ruling that will impact the real estate market in Massachusetts, the Massachusetts Supreme Judicial Court ruled that banks must show and hold clear title to a property in order to foreclose. The ruling was based upon a 2009 Land Court case where the bank did not show clear title. The bank appealed the Land Court Decision to the SJC looking for reversal.

The entire story can be read at: http://www.boston.com/business/articles/2011/01/08/high_court_ruling_could_affect_way_foreclosures_are_conducted/?p1=News_links

Bank Lending may pick up in 2011.

The Wall Street Journal reported on Dec 30 that some big US banks are starting to do more business lending. According to the article, Moody's Analytics estimates that commercial and industrial lending grew in the 4^th quarter of 2010 0.2%. This was the first reported increase in 2 years. Moody's expects that the lending will rise 3% over the next year.

City Council Considering Zoning Changes

The Malden City Council is looking at creating a new overlay zoning district for the downtown area. The proposal would impact the old Super Fitness/Mal's Supermarket site on Jackson Street, between Exchange and Centre Streets. A major stumbling block is whether or not to have mixed use or just residential in new development.

Several years ago, Malden residents spoke out during the Malden Visionary Project, and what they wanted to see downtown. The proposed development does not fit into the final outcome and plans of the Visionary Program, nor does it fit within the City of Malden's Master Plan.

A group called the Citizens Association for the Responsible Development of Malden (CARDMalden) is pushing for implementation of a mixed use development on this site, while the developer, Combined Properties wants only residential.

A Planning Board hearing is scheduled for Wednesday, January 12, 2011. Check the City of Malden website at http://www.cityofmalden.org/.

Malden by the Numbers:

Single Family Listings: 58 Average List Price: $309,064 Average Market Time: 128.47

Condominium Listings: 43 Average List Price: $209,983 Average Market Time: 151.72 Average List Price per Square Foot: $190

Multi-Family Listings: 50 Average List Price: $378,588 Average Market Time: 143.20

Please call me if you are looking to buy, sell, or just have a real estate related question anserwed. I can be reached at 617-755-0195, or by email at phweston@comcast.net.

Paul Weston

Kelmark Associates
www.liveinmalden.com