Belize Real Estate Links 
| Belize Real Estate Links | |
| |
|
Real Estate Information |
|
|
|
Boston Real Estate - Interest Rates and Inventory Must be Analyzed when Selling Your Boston Home
When selling your Boston home, it's good practice to be aware of what similar homes in your neighborhood have recently sold for. Recent comparable sales are not only what a good Boston real estate agent should use for guidance when pricing your home, but also what a bank appraiser will use if and when your buyer applies for a mortgage to buy your home. (Keep in mind though, that very rarely will you find a perfect "comp" for your home. Unless the home next door to you sold yesterday and it was exactly the same house, there is no perfect comparable for your home. A good Boston real estate agent should be able to come up with a list of five to ten comparable properties that sold within six months of the date of analysis. Your agent should then be able to make adjustments for location, size, condition, and other variables to come up with an appropriate suggested asking price for you home.) But as important as recent comparable sales are in the process of appraising property, they should not be the only measuring stick you and your agent use when pricing your home. Even if the house next door to you is exactly the same as your home and it sold two months prior to the date you attempt to price your home, there are two other very important factors that you must be mindful of when pricing and selling your home: interest rates and inventory. The effect that the interest rate has on the activity in the Boston real estate market and the economy as a whole can be classified as Economics 101. The more people have to pay in interest, the less they can pay toward the principal, and the less they can pay for your house. You must be mindful of this extremely important factor when attempting to price and sell your home. If the home next door to you sold two months ago, it may have been the same exact home in the same exact condition, however, the interest rate may have been lower or even higher when that home sold two months ago. The interest rate factor will greatly affect the sale price of your home and should be given a ton of consideration during the market analysis process. Your Boston real estate agent should be well aware of changes in interest rates and be able to answer any questions you might have on this topic. The other factor that must be weighed when appraising value is the inventory of comparable homes on the market, which can sometimes be more important than recent comparable sales. If there were very few properties on the market like the home next door to your home when it sold two months ago, then it was a good market to sell in as "demand" was (most likely) greater than "supply." If two months later you decide to sell and there are fifty other homes similar in size and condition on the market, then you will have a more difficult time than your neighbor did, as "supply" is (most likely) greater than "demand." There are certainly exceptions to this rule and there are other variables that come into play, but the inventory of comparable homes and the "average days on market" of those homes should definitely be given strong consideration during the market analysis process. (This is especially true when pricing and selling Boston condos, South Boston condos and Dorchester condos. Heavy condo development over the last five years has lead to a surplus in these areas. Your Boston real estate agent should be aware of the absorption rate and be able to inform you of the "normal" and "healthy" number of listings that should be on the market in your neighborhood at any given time.) In conclusion, recent comparable sales will give you very good insight when attempting to arrive at an appropriate suggested asking price for your home, however, you and your Boston real estate agent must also be mindful of recent activity in interest rates and the inventory of homes you will be competing against if you decide to sell your home. Rooney Real Estate is a full service residential real estate company servicing South Boston, the South Boston Seaport, and Dorchester for more than twenty years. In 2003 Rooney Real Estate was recognized by LINK, the Listings Information Network, as the top real estate firm in South Boston, MA, in total sales revenue. On May 10, 2005, MLS (Multiple Listing Service) listed Rooney Real Estate as the top firm in South Boston, MA, in total sales and total dollar volume thus far in 2005. Rooney Real Estate also has an unparalleled record of giving back to the youth sports leagues and non-profit organizations in the communities they service. Call 1-866 ROON DOG, or visit www.rooney-re.com for more information. Jay Rooney is a Vice President and a licensed Sales Agent at Rooney Real Estate, Inc., in Boston, Massachusetts. He is currently regarded as one of the top listing and selling real estate agents in the Boston real estate market and has won numerous awards for his real estate achievements. Email Jay at jay@rooney-re.com with questions about this article and for all of your Boston real estate needs. More information about Jay can be found at http://www.rooney-re.com
MORE RESOURCES:
Google News |
|
|
|
RELATED ARTICLES
Fixer Uppers: Dont Make This Mistake Making money with "fixer-uppers" isn't about repairing drywall or planting flowers. It's about using the right approach from the start. Quality of Life in Sussex County Delaware. Facts, Statistics, Observations and even opinions! We Sussex Countians are fortunate in many ways as we have a wonderful quality of life here.Climate: Our climate for one thing is the best in the region. Log Homes - What is the Log-Home Lifestyle? Typical log home company advertisements in popular log home magazines talk about the "log home lifestyle" or "it's not just a home, it's a lifestyle." What does this mean? What is "the" log home lifestyle?It's often difficult to discuss the particulars of log home living without also talking about where the log home is located. Coming to Las Vegas - the Las Vegas Real Estate Boom Nobody seems to be 'Leaving Las Vegas' anymore - in fact just the opposite is true. Just as in the time of the rush Las Vegas real estate has been drawing the attention of investors and new citizens alike. Real Estate Wealth Protection Through Short Sales Is a sharp correction in store for the real estate market?Fannie Mae, the largest buyer of mortgages in the US, is worried. They recently warned that the probability of a housing bust has risen sharply in certain parts of the country. Choosing a Reputable Real Estate Appraiser When you are considering purchasing a property; either for investment or personal use you will need to hire a real estate appraiser. If you are financing the purchase through your credit union or another financial institution will most likely be required to hire a real estate appraiser to perform an appraisal on the property. European Second Home Prices Wilt in Drought Spain and Portugal have suffered one of their worst droughts on record this summer, with consequences from empty swimming pools for the tourist to economic disaster for farmers losing their crops and livestock.Roger Munns, Managing Director of Tribune Properties, predicts that property prices in the two European countries could drop as much as fifteen per cent in some areas as more owners decide to put their villas and apartments on the market. Boston Real Estate - Interest Rates and Inventory Must be Analyzed when Selling Your Boston Home When selling your Boston home, it's good practice to be aware of what similar homes in your neighborhood have recently sold for. Recent comparable sales are not only what a good Boston real estate agent should use for guidance when pricing your home, but also what a bank appraiser will use if and when your buyer applies for a mortgage to buy your home. Negotiating A Short Sale - The High Road to Huge Foreclosure Profits Buying foreclosures can be extremely profitable for real estate investors. However, most of these homeowners are mortgaged to the hilt. Small Town Stone House with a Long History As a native Midwesterner, the first thing I noticed when moving to the Delaware Valley was the enormous number of fieldstone houses. Frankly, I'd never seen such a thing. Cutting Edge Real Estate: Is There Anything New? Part 1 The world of real estate has pretty much stayed the same for decades. It's no different today than it was 50 years ago. FSBO Novel Preface PrefaceWe are For Sale By Owners, "FSBOs." We spend our time trying to sell ourselves and others on what we are doing or what we want to believe. How to Become a Successful Real Estate Developer Real estate investment and development has never been a more popular pastime or career changing challenge; if you would like to learn seven secrets for consistently successful real estate investing through development or you would like to know how you can continue to profit from property even if the market takes a downward turn just read on?1) Do Your Location Homework - did you know that through successful and sustained location research professional property investors actually continue to profit during a market down turn? It's true - whatever the market conditions you can apply their location research approach to your real estate investments and also make consistent profits from property.Take the necessary time to learn all about a town or city you're considering for your next property development purchase and discover where the up and coming areas of that town are likely to be. Condo Hotel Trends - A Look at the Big Picture in Vacation Home Ownership Condo hotels are one of the hottest products in today's real estate market. New properties are cropping up in different parts of the country and new buyers are entering the market daily. Notify Them When Youre Moving One of your first steps, when you're getting ready to move, is to pick up a stack of change-of-address cards from the post office. Yes, old-fashioned go-by-snail post cards! You'll want to notify everyone in your address book and also. 7 Marketing Methods for Real Estate Coaches You shower, shampoo, dress your best, check to see if you have plenty of business cards, drive about an hour, introduce yourself by saying "Hi, I'm Mary and I'm a coach" and the other person says, "Hi, I'm Jack and I'm a coach, too!". You meet more coaches than you knew existed. Questions Investors Should Ask When Buying and Selling Investment Property If you're a real estate investor, here are several questions to consider when looking at investment properties. Providing sound answers to these questions will greatly increase your profits:Why do homeowners sell for bargain prices?There are many factors that can prevent owners from being able to maintain their homes. Does Staging Work? Staging can involve minimal effort on the part of a seller. Merely rearranging furniture can show a house off to advantage. A Log Home Story Solving problems while maximizing valuesThis story has a few good lessons and observations that no doubt can be used by you to take advantage of hidden opportunities that often lie in plain view for all to see, however, most people have not been trained or instructed on how to recognize or find them.The following true story begins with a classic log home package, engineered, manufactured, approved and delivered for use in Alaska. Is a Vacation Home Right for You? Many of us dream about owning the vacation home in the Mountains, or on the Lake or Ocean. A place where one can retreat periodically from the hustle-bustle of everyday life.
|
| home | site map | Colorado Log Homes | Homes for Sale in Denver Metro |
| © 2006 |
