A few times a year, the Chief Economist for the National Association of Realtors ® prepares an economic review for Realtors ®. The report was aired on Zoom August 2nd. He does a really good job, especially because there are so many of us, and we have such a variety of backgrounds. He is accessible,
I coach my clients to buy a home that will serve them -- given their best guesses about the future – for the next seven to ten years. Many of them heeded my advice. Therefore, it will often be 15-20 years later when I hear that my clients are looking towards their next move. Many
Where are all the sellers? 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
Improvements. Which ones pay off at resale? As a buyer's agent, I get asked that all the time. Surprised? Once our clients become homeowners, they start thinking like sellers. Some improvements pay back at a high rate at resale. Some only pay back in your enjoyment of the place (although they may help you sell
Q: What does an exclusive buyer’s agent like me know about the work of a seller’s agent? A: Almost everything. 2020: If you are considering selling an empty house, now is a very good time to sell. There are many sellers who can't sell now, because they are living in the house and do not want
We are not fans of starter homes or starter condos. It’s expensive for our clients to change residences. Moving to your second purchase is also complicated by the debt you are carrying in your current mortgage. That current mortgage debt can create a situation where you can’t get a mortgage on the next property until
The market is now predicted to stall. This is a window of opportunity for downsizers. A high market (which is what we have now) means a good return on your current house. You can now buy more easily and still draw equity from your house that is now too big for your lifestyle; that's the
A rising market favors people who are downsizing because the higher the property value, the greater the sale of the more expensive, bigger property. This offsets the higher price of the downsized, smaller property, assuming both properties are rising at the same rate. Suppose you own a house that was worth $650,000 before the mini-bubble.
Improvements. Which ones pay off at resale? I get asked that all the time. Once our clients become homeowners, they start thinking like sellers. Some improvements pay back at a high rate at resale. Some only pay back in your enjoyment of the place (and may help you sell faster.) Here's a list from Groom
How does a seller’s market end? A seller-favoring market exists when there is more demand for housing than supply. Since about 2012 or 2013, buyers found fewer properties for sale than they did during the recession (when foreclosures added to the number of houses and condos for sale.) Limited supply created the seller-favoring market we’ve