Time to Buy!

    Interesting real estate article in this weekends Boston Sunday Globe. The article begins with the story of a home buyer who gets a great deal, buying a home for $81,000 less than asking price because he's such "...a bulldog of a buyer."  He digs up information on comparable sales, he keeps spreadsheets, he has a masters in business administration and above all he's disciplined.  He "...was a stone cold hunter."

   Of course it also took him 3 years to buy his house and he used the services of an experienced Buyers Broker.  Since the market changed considerably over the last three years that might have had something to do with getting the house below asking price but mentioning that wouldn't have made the story as interesting.

   The writer goes on to redeem himself however by doing some actual research. He quotes an economics professor from Wellesley College who specializes in real estate and who concludes that the housing market (in Massachusetts) is in "that flat period ...where prices don't plummet. They hold on." A Buyers Broker suggests that now is the time to buy because by spring the best deals may be gone.

   While I generally discount most of what is said about real estate in the mainstream media I do think that it is a good sign that they have moved off talking about "bubble" bursting and are now talking at least a little bit more realistically.   The ski areas here in God's Country have known for a long time time that it doesn't matter how much snow they have on their mountain, the skiers from out of state won't come unless there's snow on the ground in Boston.  In much the same vein if the real estate market is flat to our south and the average buyer has to sell his home there before he can buy here it doesn't matter that there are wonderful properties at great prices to be had here.

   However, for those Buyers who are in a position to purchase now, there are terrific opportunities.  Call one of our Brokers today and let them show you how to make money in this market.  But, you better hurry, the story seems to be getting out!

Jim Cosgrove

Comments

[Tom Field]

Jim,

It looks like the Boston Globe is seeing things your way too. Here is an article that appeared in the real estate section today: http://www.boston.com/realestate/news/articles/2006/11/29/end_of_housing_decline_near/

The good thing about this market is that there is a lot of inventory to look at and some sellers are willing to accept offers that they would not have considered in June.