According to a story on WBUR’s website, there is a limited amount of activity out there (in the suburbs, at least) with buyers holding off when making offers on properties, even ones perceived to be priced appropriately.

There is a lot of psychology at work, here. Some sellers may believe they are pricing their homes accurately but are still far above what the market accepts. And, buyers may think sellers should take any offer, regardless of amount, thinking it’s their “right” to get a good deal and to hell with the seller breaking even.

Even now, three years after the economic crisis kicked off with the bankruptcy of Lehman Brothers, it seems as though buyers and sellers are in a standoff.

Here in Boston, things are a bit different. Activity is off 25% or so, but prices continue to remain high. There is a fairly good economy so owners can hold on without being forced to sell, there is limited inventory, and there are still buyers who want to buy, now, and have their finances in order to do so. This is why you’ve seen the market here remain flat, with little price depreciation. (At least in some price ranges.)

More: Mass. Home Sellers Sweat Slow Spring Market – WBUR

If you took advantage of the federal government’s homebuyers’ tax credit program back in 2008, I’ve got bad news for you. You owe the IRS some money.

As pointed out in a Real Deal article posted online, homebuyers who received tax credits during the government’s first (of three) stimulus package are required to pay that money back.

… [F]or first-time homebuyers who purchased a home between April and December of 2008 and claimed a different federal tax credit, they are faced a tax liability.

“If you claimed the first-time homebuyer credit on your federal tax return for the home you purchased in 2008, and you owned and used the home as your main home during all of 2010, you are unfortunately required to start repaying the credit back,” said Ross Rizzo, a tax partner at Salibello & Broder.

For most people, the repayment will be spread over 15 years, in equal increments.

Basically, the advice is, talk to your tax accountant or attorney. Or, just call the IRS. I’m sure they can explain it all to you.

(BTW, if you took advantage of the second or third stimulus program, you’re most likely exempt from having to pay back the money. Again, check with a professional.)

More information: Is the first-time homebuyer’s tax credit really just a tax liability? – The Real Deal

The Mortgage Bankers Association reports that average 30-year mortgage loan rates rose last week to 4.66 percent. The average contract interest rate increased for the fourth consecutive week and is at the highest level since July 2010. The effective rate also increased from last week. Rates are still lower than their two year average but higher from the all-time low, last October.

The Refinance Index decreased 1.4 percent from the previous week. This is the fourth weekly decrease for the Refinance Index which reached its lowest level since June 2010. Refinancing activity as a share of all loans increased to over 75 percent. Adjustable-rate mortgage loans made up less than six percent of new loans.

What the future holds is an open question. I suspect rates will stay low but at some point, all this borrowing by the government is sure to have an effect. You don’t need to be an economist to understand that.

The advantage of rates slowly creeping up (at least for me …) is that it may encourage some people to get off the fence and act, buying a home. “Rates will never be this low” has been the constant cry of agents across the country – and it’s actually probably true.

The famed Abbey Road studios which served as an icon for the Beatles‘ album of the same name has been put up for sale by EMI.

The asking price is unknown but experts are estimating the building is worth around $20 million!

Is this a sign that the economy and market have bounced back? Within 1 month’s time several multi-million dollar properties have been sold and gone under agreement. Many condos that have been on the market for quite some time have suddenly been picked up, such as Zero Marlborough #6 as well as 96 Beacon #3. The sale of 96 Beacon will complete sales of all 4 units in the boutique luxury building.

All obviously beautiful homes ranging in price from 3.5 – 12.5 million…yes a big big one at 58 Commonwealth has been locked down under agreement.

Here are some highlights:
58 Commonwealth – UAG $12.5
9 Arlington #3 – UAG $7.499
293 Marlborough – UAG $5.299
Mandarin Oriental #E9C – SOLD $4.150
0 Marlborough #6 – UAG $4.195
81 Beacon #4 – SOLD $3.6
96 Beacon #3 – UAG $3.99