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For additional information on any listing found on the website,Call or Email Jeff Today! 617-512-3443
Boston Area Real Estate Market Commentary | Realestate Agent
Let me start by saying that I don't know where Boston real estate is going. It is a market after all and no one knows if it is going down, sideways or up. For instance from 1986 to 1996 very few homeownes experienced price appreciation on their properties while from 1996 to 2006 most homeowners experienced a double, triple and even some quadruple price changes. I'm not aware of anyone who predicted either decade. That being said, the best tact that we have is to look at what has sold in the last 12 months to make sure you are not overpaying at present valuations. Before I started in real estate I was a stock trader and I bring my abilities to bear in a different market but with many similarities. It seems to me that most real estate agents are trying to sell property. Here is where I stand out as the only buyer's agent in Boston practicing my level of advocacy. Its not a complex problem, placing a valuation on a property and sharing that with my buyers. I tell them what they are likely to be able to sell it for if they had a life change before the usual 5 years that we think of as the minimum holding time. I give my buyers a figure, sometimes a short range and then I let them go where they want with the information. There is certainly nothing wrong with overpaying a bit for a property but there is something wrong if you don't know that that is what you are doing. The old saying goes: "You don't make money in real estate when you sell but when you buy". If you know for certain that the price you are paying equals prices paid for similar properties close by recently it is very reassuring indeed. Helping you buy right is my responsibility as your buyer's agent.Say Hello To Our Buyer's Market.Real estate listings often go begging for buyers this time of year. November and December seem to be as close to a buyer's market as we come in Boston, at least since the early 90's. So where are the buyers? They all paid too much in the summer. Its instinctive to hunker down and stay put for the winter. That probably goes back through the millennia. Who wants to change their cave in a snowstorm? Part of being a good buyer in markets like real estate as well as stocks is to be willing to buy when no one else wants to. It feels uncomfortable sometimes because buying a home in the late fall, early winter, goes against the grain psychologically and emotionally. The smart money looks for bargains in November and December. I see prices falling steadily and properties routinely selling for less than asking price. I haven't seen a bidding war in weeks. So where are all the buyers? They're waiting to pay too much in the summer. Be Represented, Not Sold
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