Where is Massachusetts real estate headed?

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Something to Sing About...

I was looking at the March 19 post about new listings, and noticed that two of the three have already gone under agreement. In fact, our office has sold or put under agreement 11 properties in the past 30 days, with more that I know of in the works.

Of course, part of this was due to the fact that the Homebuyers’ Tax Credit was due to expire on April 30. There were plenty of buyers out racing around trying to put a contract together under the wire.

But there are plenty of buyers out there who want to purchase without regard to the Tax Credit. A lot of economic indicators are pointing to a recovery (see post in Towne & Country blog here). I think the thing about these indicators that is impressive is that they are based on data as opposed to one person’s opinion.

Recovery, of course, will be slow. This has been a long recession, and there are fears about a huge wave of foreclosures hitting the market, depressing home prices further. Legislation has been proposed or passed that may delay or reduce the number of foreclosures on the horizon- check out this article about what is going on in Massachusetts. This is good news, I believe… foreclosures hurt everyone.

If you are considering selling? Go into the process with your eyes wide open. Look at the numbers yourself – not just comparable listed properties, which may or may not sell. Attend open houses of comparable listed properties to see how yours compares. Consider hiring a home stager to walk through your house and tell you how it looks through “buyers’ eyes”. And realize that it may take longer than 30 days to put under agreement.

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