Market data and conditions

Credit score changes. Who loses?

You know that real estate bubble I keep saying is inflating? It just got a pump of air. I agree with Jim Morrison at Banker and Tradesman that easing credit restrictions is the wrong thing to do. It didn’t go well in 2006, and it won’t end well this time. What’s happened? Credit reporting has

Affordability, Summer 2017

Here’s the headline: Real estate prices just passed the line for affordability. This is news. When a market passes the point where average consumers can buy, the market is headed into a bubble. Yet RIS, the source of the info, does not conclude that the market is about to correct, yet. First, a definition: affordability

By | 2017-07-17T11:07:12+00:00 July 5th, 2017|Categories: Market data and conditions|Tags: , , |

Apartments for sale

It's starting. My phone is ringing because landlords are notifying their tenants of their plans to sell the apartment. Some will renovate, some will just sell. When a seller puts an occupied apartment on the market, it takes some diplomacy to make it work. Someone lives there, and it's for sale: Showing rented houses and

By | 2017-04-18T13:17:36+00:00 June 14th, 2017|Categories: Buying trends, Market data and conditions, thinking of selling?|Tags: , , |

Bidding wars and how they work

You are hearing the stories. I know.  “…there were ten offers on every property and everything sells for $50,000 above asking price.” “NO ONE is buying with a home inspection…” “If you don’t have cash, you can’t buy in (name the town here.” The stories are true, but they are not true. Some properties are

By | 2017-05-09T20:50:06+00:00 May 17th, 2017|Categories: Market data and conditions, Negotiating|Tags: , , , |

Can’t sell because you can’t buy?

The big issue in Boston area real estate is inventory. There are not enough houses for sale. We have a stalemate about inventory here. These are the factors: Empty-nesters are staying longer in their houses. This is a demographic and cultural shift. They are holding on to their houses, partly because of personal choices and

Higher interest rates

Do you know what it will cost you to borrow at a higher interest rate? If your rate changed from 3.5 percent to 3.75 percent, the cost would be an additional $14 per month, per $100,000 of principal. This increases slowly to $15 per month, per $100,000 when the interest rate changes from 4.5 to

Scare the buyers, sales hype 2017

Dear Boston Globe, It is February 28, 2017.  Too early for your annual “scare the buyers” article. Please wait until spring. But, since you chose to publish now. I will translate for my clients. Definitions: Sales volume: the number of housing units sold in a given period. Median sales price: The middle price from a

The Chinese government is helping our clients

Q: How does monetary control policy in China affect buyers in Boston? A: Strict control of cash leaving China has slowed or stopped the flow of money used for down payments by Chinese people buying international properties. This is good news for our buyers. Source Since the Great Recession in America (2008), one of the

Forecast 2017 for buyers

General: most of the number-crunching services are predicting that housing prices will be stable. This means they will increase, but at a slower rate than we have been seeing over the past three years. Deregulation will loosen mortgage requirements. This is a positive for first-time buyers who are on the brink of purchasing. Some will

By | 2016-12-28T14:00:57+00:00 December 28th, 2016|Categories: Buying trends, Market data and conditions, Mortgage matters|

2016, the year in real estate

How well do exclusive buyer’s agents do, in the face of a tough seller’s market? Here are results for the hardest seller’s market we have faced, ever! Our report card for 2016: Total amount under original asking negotiated: -$188,359 Total amount negotiated after inspections: -$35,000 Total paid over asking price in bidding wars $229,300 Towns