I hope you all found a NYE event in suited for your tastes and enjoyed a memorable entrance into 2012! As you all know, with a new year comes new memories to make, goals to achieve and resolutions to conquer. For you, it might mean buying a home in Boston!As your Boston Real Estate agent, I chose some of the industry predictions and outlooks for you to be aware of:
· In recent data collected by Forbes, statistics showed that 2011 was a quiet year for U.S. home prices, only dropping slightly compared to drops in previous years. An index report predicts a slight gain in home prices across all markets in 2012.
· Not only were home sales up for the second month in a row, but the index broke 100, according to an article from the National Association of Realtors. This was only the second time the index has broken 100 since the economic downturn, and the first time was when tax incentives were available for first-time homebuyers. This is hopefully only the beginning of improved home sales in future months!
· An increase in jobs has lead to stronger retail sales, which then indicate a rise in home sales for 2012. They all go hand in hand. With stronger home sales, we could see a reduction in vacant housing and therefore an improved absorption of foreclosures.
· Right before 2011 ended, 30-year fixed mortgage rates dropped to a historic low! Analysts are predicting that these rates will remain below 5 percent for at least the first half of 2012, according to a MSN Real Estate article.
· Because home prices are still low and mortgage rate are lower than ever, research shows that buying a home is still a better investment than renting a home in the long run.
Have I convinced you yet that now is the time to buy a Boston home? Think about it. Less potential homebuyers are looking for a house right now in the winter months, but plenty of sellers still need to sell because of financial restraints, job transfers or personal reasons. This means you could score a great deal in the Boston Real Estate market right now!
Also, if these industry predictions are correct, you’ll purchase a home for a low price right before they begin to increase in value. If you stay put in your new home for a while, you could really come out on top.
Why wait? Conditions are perfect for buying a Boston home in the Boston Real Estate market! If you’re not sure what you can afford, or how to get started, contact me! I’m your Boston Real Estate agent, here to answer all your questions and calm all your concerns.
Let’s make 2012 the year that you succeeded in making your Boston real estate dreams come true!
Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com
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