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Now is a good time to buy. Here’s why:

Friday April 25th, 1:46pm

Did You Know…

Mortgage rates are at historic lows, remaining at or below 6%, and well below their all-time highs of over 18% in the 1980s. The rate of return on a housing investment dramatically increases the longer it is held (Harvard University Joint Center of Housing Studies). The median net wealth of a renter household is $4,800, while the median net wealth of a homeowner household is $171,700. (Federal Reserve Survey of Consumer Finances)

Now is a good time to buy. Here’s why:

The Market is Strong

Interest rates are historically low, inventory is abundant and prices are stable.

“All Real Estate is Local”

Market conditions being reported nationally do not necessarily reflect the real estate market in your local community, neighborhood or street. Speak to a Boston based Prudential REALTOR® who truly knows our local market.

Building Wealth

Owning a home not only provides you with shelter, but it is one of the best ways to build wealth. In addition to the tax benefits, real estate has delivered the most consistent positive return over any long-term investment during the last 40 years.

Timing

The right time to buy (or sell) is when it is right for you. Trying to time the market is extremely difficult as the only way to know the market has hit bottom is when prices are on their way back up.

Qualified Buyers

Underwriting requirements for loans have been tightened; as a result, buyers who are now in the market are more qualified. This means sellers can feel more confident that their sale is going to close.

Comments

Posted Saturday April 26th, 12:33pm

I was just reading an article in the Cape Cod Times this morning about the speculation on whether or not the Fed will cut rates this coming week. According to the artcicle, most analysts were previously predicting a cut in rates by 1.2 a point. However, now due to world wide famine roits, and increasing oil prices, they speculated that the Fed will still cut rates, but by only 1/4 point. Either way, I personally am on the cusp of securing my financing and purchasing a home. My opinion, that even if they only cut it by 1/4 point, this is still an incredible time to buy as it is a buyer's market and this just makes buying property in Boston that much more appealing.

Great post PruBostonRealty.com - I enjoy your site a lot and find it full of helpful tools - thanks for making the effort to make it such a great resource for home buyers and sellers in Greater Boston.

-- S. Glisan

Posted Saturday May 10th, 3:43pm

I agree that now is a great time to buy and enjoyed reading your posting. The thing was actually getting pre-approved was a difficult process for me. I did in the end get pre-approved at 5.85% for a 30 year fixed - and my credit score is an average of 769 - which is excellent - but I had to go through a somewhat arduous process and I have to put up 30% as a first time buyer and small business owner. So i agree, this is a great time to buy real estate in Boston, but be ready to jump through hoops to be financed.

-- Michael T.

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Now is a good time to buy. Here’s why:

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