TTC_05_06_20_Vol.16-No.28.a

Page 10 www.TheTownCommon.com
May 6, 2020
LEGAL NOTICE
NOTICE OF PUBLIC SALE
Notice is hereby given by Big Jim’s Towing, Inc. 13 Creek Street,
Beverly, MA, pursuant to the provisions of Mass G.L c. 255,
Section 39A, that they will sell the following vehicles on or after
May 14, 2020 beginning at 10:100 am by public or private sale to
satisfy their garage keepers liens for towing, storage, and notices of
sale. Vehicles are being stored at Big Jim’s Towing, Inc.
2012 Nissan Sentra VIN 3N1AB6AP4CL648982
2010 Mercury Mariner VIN 4M2CN9B78AKJ26362
Signed,
Thomas Zarella
Owner
While there are still some deals
happening, there is no doubt that
the coronavirus pandemic has
thrown a rather sizable wrench in
what was a well-oiled real estate
machine. The real extent of the
market damage won’t be known
for months. I am not in the business
of making predictions BUT
my bold, short term prediction
once the stay at home order is lifted
is that we will see is a terrific
real estate run. Why? Here are
some reasons:
1. Interest rates. Most economists
believe a “correction” is
coming. If you’ve been waiting
for rates to hit bottom now might
be the time. If rates aren’t at the
bottom I don’t think they will go
much lower and more importantly
most economists are anticipating a
jump upward soon.
2. Inventory. There isn’t any.
There is not enough of a supply of
homes to meet the demand from
buyers. This lack of inventory
Real Estate in a Pandemic Part 2
By John McCarthy, Rowley Realty
often brings multiple offers on a
single home. With low inventory
and a larger demand comes higher
home values. This may change as
there are a number of sellers who
are waiting to put their homes
on the market. While there will
be increased competition among
sellers there will still be enough
pent up demand.
3. Value. The value of your home
has risen from the most recent bottom
of the real estate market. If you
didn’t have any equity in your current
home 5-6 years ago to on your
next home, you do now and will
when you are ready to sell.
4. Borrowing. The federal government
will continue to lend.
They will continue to spur the
market forward. The Federal Housing
Administration (FHA), which
guarantees mortgages for first-time
buyers, has moved over the last few
years to ease borrowing requirements
and costs. This will continue
and has a trickle down affect on all
segments of the industry. If there
are more first time buyers the sellers
of those smaller homes can buy
bigger ones and so on.
5. Foreclosures and Short Sales.
There just aren’t that many around
here any longer. I don’t see that
changing even with what we are
going through. Just as significantly
most buyers who went through
foreclosures, bankruptcies or short
sales during the downturn now
have repaired their credit enough
to qualify to buy a home again.
While nobody can see into the
future, I do know that we will get
through this, that we are resilient
and we will do it together.
If you have any questions about
this article, real estate in general or
are looking to buy or sell a home
please contact me, John McCarthy
at Rowley Realty, 165 Main St.,
Rowley, MA 01969, Phone: 978
948-2758, Cell 978 835-2573 or
via email at john@rowleyrealestate.com
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