It’s a great time to buy in Boston!
Buying in the Fall/Winter can really have some advantages. Many properties that were over priced in the Spring market have been sitting for months with no action, and their prices are dropping. In addition the Fed just dropped interest rates AGAIN to entice people to buy, which means that there are more affordable options in Boston than there have been in many years.
What to look for when buying a home in Boston during the “off” season:
Days on Market - Obviously the longer a property has been on the market, the greater the chance that the owners are more eager to sell. I can also research and determine if the initial listing price has been dropped in that time period.
Heating Systems - Since we live in a moderately cold climate, when buying a house in the summer, people don’t always pay as much attention to heating systems as they should (though a good agent and home inspector will always watch out for this).
Insulation - When walking through the house, do you feel drafts? Are there newer double-hung windows? Is there insulation in the attic? Any of which could be potential negotiating points.
Right now the average rate for a 30yr fixed rate mortgage is 6.25% with no points, and 5.5% with 2 points. This means that with lower prices you really might be able to find your dream home without breaking the bank.
Ready to make your move, or just curious about the market, check out the Boston MLS Property Search that I offer.
- Boston MLS Property Search
- Buying in Boston using a Buyer Agent
- Contact Me when you are Ready to Buy a New Home in the Boston Area
Charissa Pemper, Boston REALTOR®
Charissa Pemper
Lic. MA Real Estate Broker, REALTOR®
Charissa@HomesInBoston.com
