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» VISIT US ONLINE @ DSNEWS.COM 79 is the primary cause of the decreasing sales activity. Motivated buyers, however, are eagerly bidding for the limited supply which accounts for the increasing sales prices. People want to buy homes before prices and interest rates rise further." Home sales dropped 7.8 percent to 2,749 in March, down from 2,980 the previous year. Home sales in the first quarter were down overall 2.4 percent, dropping to 7,557 from 7,745 in the first quarter of 2013. To back up Warren's statement, the median price for single-family homes sold in March rose 8.6 percent to $315,000 from $290,000 a year earlier. It was the 18th consecutive month that monthly home prices have increased year-over-year. e first-quarter median selling price was $305,000, a 7 percent increase from $285,000 in the first quarter of 2013. Warren also sees condos as another option on the rise. He commented, "As we see from the sales numbers, condos continue to be an attractive option for first-time homebuyers or empty nesters. With a tight apartment market and rising rents, condominiums are hot right now." e median price for condos sold in March was $291,500, up more than 10.4 percent from $264,000 in March the previous year. e first- quarter median condo price was also up more than 15.7 percent to $290,000 from $250,500 during the prior year's first quarter. IN THE NEWS Massachusetts Home Sales Decrease from Low Inventory For four out of the last five months, single- family home sales have decreased in the Bay State. is trend is seen by some as a simple problem in availability. Timothy J. Warren Jr., CEO of the Warren Group, said, "e low inventory of single-family homes in the market Massachusetts RANK: 28 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MARCH 2014 3.49% 1.57% 6.3 YEAR AGO 3.65% 2.43% 6.9 YEAR-OVER-YEAR CHANGE -4.4% -35.1% -0.6 Top County FRANKLIN COUNTY 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 5.51% 3.24% YEAR AGO 5.07% 3.39% YEAR-OVER-YEAR CHANGE 8.6% -4.3% Top Core-Based Statistical Area SPRINGFIELD, MA 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 5.95% 2.77% YEAR AGO 5.39% 3.65% YEAR-OVER-YEAR CHANGE 10.4% -24.3% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary March 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Massachusetts Baris Berk United Brokers 1725 Revere Beach Prkwy Everett, MA 02149 617.389.2700 tel 617.461.4238 cell 617.389.5656 fax reomaster@live.com www.unitedbrokersworld.com New Hampshire RANK: 35 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MARCH 2014 2.08% 1.06% 4.5 YEAR AGO 2.39% 1.63% 5.3 YEAR-OVER-YEAR CHANGE -12.7% -35.0% -0.8 Top County SULLIVAN COUNTY 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 2.93% 1.78% YEAR AGO 3.22% 3.30% YEAR-OVER-YEAR CHANGE -9.2% -46.2% Top Core-Based Statistical Area BERLIN, NH-VT 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 3.31% 2.08% YEAR AGO 2.98% 2.96% YEAR-OVER-YEAR CHANGE 11.1% -29.6% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary March 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. IN THE NEWS Maryland Man Sentenced for Defrauding Homeowners As a part of ongoing legal proceedings, the office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced that Brian Kelly was sentenced to one year and a day in federal prison for his participation in a $4 million nationwide home loan modification scheme. Kelly will serve an additional three years of supervised release following his prison term. Restitution efforts involving the lost funds will be determined at a later date, according to the government agency. Kelly pleaded guilty on May 2, 2013, to one count of conspiracy, nine counts of mail fraud, and nine counts of wire fraud. "Kelly was a chief telemarketer at 'HOPE' and was on the frontline defrauding struggling homeowners out of their homes, making false promises, and taking what precious little savings they had left," said Christy Romero, special inspector general for TARP. Kelly and others, operating under the name Home Owners Protection Economics (HOPE), misrepresented themselves to struggling homeowners in order to net $400 to $2,000 in upfront fees in exchange for HOPE's help obtaining federally funded home loan modifications. "According to court documents, in exchange for the upfront fees, HOPE sent its customers, including homeowners in Massachusetts, a do-it-yourself application package, which was virtually identical to the application that the government provides free of charge. e HOPE customers had no advantage in the application process, and, in fact, most of their applications were denied," the agency said. As previously reported by DS News, other men connected with the scam also received jail time. Christopher Godfrey and Dennis Fischer each were sentenced to seven years in prison, while Vernell Burris Jr. was sentenced to 12 months and a day in prison. Month-over-month, Maryland had one of the smallest decreases in home prices, dropping 0.2 percent in February, according to Black Knight's Home Price Index. KNOW THIS

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