Real Estate Sales, Up or Down in Foxborough?

For the first time since January, sales of Massachusetts single-family homes increased in July, posting a 7 percent increase from July 2010, according to a report by The Warren Group, publisher of Banker & Tradesman.

"While it's encouraging to see sales rise in July, we're comparing statistics to a very rough month of July last year," said Banker & Tradesman Managing Editor Cory S. Hopkins. "The expiration of the homebuyer tax credits hurt sales volume a year ago, which is skewing the actual picture of the market now."

The median price of single-family homes remained steady in July, slipping under 1 percent to $317,500, down from $320,000 a year earlier. This is the third straight month that the median price exceeded $300,000. The median price for homes sold January through July was $295,000, down just 1 percent from $298,000 in the prior year.

The median condo price also crept up in July. The median selling price was $298,000, up 4 percent from $286,000 a year earlier. The year-to-date median price of condos in the Bay State is $274,000, up 4.5 percent from $262,000 a year ago.

So how does Foxborough stand among these statistics? Patch recently stopped by Century 21, The Lovely Real Estate Office on Main Street and had an opportunity to speak with Millie Cetrone, Real Estate Trainer/Broker and Sales Manager for the Main Street office.  She remains optimistic and sited that 60 properties have been sold in the past six months, with another 15 under agreement.  The average number of days on the market was 123.  Not too bad in this economic downturn. Cetrone and her team have been helping Foxboro and surrounding area residents for over twenty years find the home of their dreams.  The Lovely Agency started as a family real estate firm in 1958 and has grown to help Foxboro residents meet their insurance and legal, as well as real estate, needs.

Cleve and Marj Lovely founded Lovely Real Estate in 1958. Pete, a Foxboro native joined the business in 1961 after getting his graduate degree from Babson College.  Pete Lovely and his wife Ann, a Walpole native, took over in 1968 after Cleve Lovely passed away.

In 1977, Pete and Ann Lovely joined Century 21 to take advantage of superior training and national advertising. This proved to be an important move and real benefit for all concerned. Lovely Real Estate has operated in its present location at 41 Main Street for over 50 years with a dedicated and professional staff.  Currently, the agency has eleven active real estate associates, with two speaking fluent Arabic and Russian. 

Anne and Pete Lovely, owners of Century 21, The Lovely Agency, understand how important the family dynamic is and have strong ties to the town of Foxboro.  Sons John and Jeff Lovely graduated from Foxboro High School, completed college in the 1980s and moved on to law school. John graduated with honors from the University of New Hampshire and Suffolk Law School. John has practiced as an attorney for over 23 years and concentrates his practice in sophisticated commercial real estate transactions and works extensively in residential real estate, condominium law, and criminal law. Jeff got his degrees from Harvard College and Boston College Law School and recently began his 20th year in practice, concentrating in real estate, litigation, family law, and divorce mediation. The Lovely brothers have offices at 6 Railroad Avenue and share the same philosophy to help their clients avoid and solve problems in a cost-effective manner.

John and Jeff Lovely are ready, when Pete and Ann Lovely retire, to carry on and put the stamp of the third generation of the Lovely Family on the businesses. Pete and Ann are the proud grandparents of nine and hope that in the future, the fourth generation will take over and continue the businesses.

Cetrone, a top-notch producer and real estate trainer, manages Lovely Real Estate. Cetrone is experienced, energetic, and on the cutting edge of real estate technology and is actively recruiting new agents to join Century 21, The Lovely Agency.