The Condo Search

Condo buyers and sellers in Boston will see that in todays current economy, the market is still working in the buyers favor. Properties are moving fairly slow which means buyers are eager to negotiate with home seekers. Simply put, put in some legwork, double up on the number of offers that you make and something will work out in your favor.

In todays economy, our currency is beginning to raise in value and rates are at an all time low. Homeowners are refinancing for as low as 3.8%. This makes it the perfect time for people sitting on cash to upgrade their home or invest in some property before the economy is restored. Also, we should mention that we don't expect future economic conditions to ever be the same as they have been, but we do live in a volatile real estate market where small economic changes have dramatic impacts on buyer and seller incentives. For example, recent news shares that the central bank has decided to stimulate the economy via increasing the money supply. This means more money, slightly more inflation, and in turn increase in property demand. This happens for two reasons.

First, property retains its investment utility regardless of whether the currency is increasing or decreasing in value (as opposed to gold). If the dollar strengthens and you own property, it goes up in value. If the dollar weakens then your property goes down in value, but at a rate that maintains the equity to loan ratio. In other words, your property is still valuable if the dollar is suffering.

Second, as people have more money they can afford (or at least *think* they can afford) more home per dollar. This means that they'll search for larger home with more space and perhaps a higher level of luxury. While not always the most prudent decision, this almost always raises home values since people want bigger/nicer/better.