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John Savignano's Blog

By John Savignano | Agent in 01748

Bargain-Hunters Find a Metrowest Market That Isn’t Waiting

 Anyone who is buying a house in Hopkinton or Metrowest -- or even just checking up on the market -- is likely to find that some of the rules of the game seem to have shifted. Particularly anyone expecting to be deluged by the kind of amazing deals being offered in 2008 and 2009 should see what I mean.

As the latest housing statistics continue to paint an upbeat picture, at least when it comes to bargain-priced properties, the days of multiple bids and ‘offers over asking’ are back.  If you are weighing the advantages of buying a house inHopkinton or any Metrowest Towns before interest rates and prices rise in earnest, it should be useful to take a look at some strategies that work -- and some that virtually never work:

1)                  Blanket Low-balling – Running around writing up a bunch of low-ball offers is a surefire way to get yourself ignored, or worse, miss out on an otherwise great property. A better approach?  Work with a knowledgeable agent whose expertise in Metrowest neighborhoods will allow you to check on the most recent comps, then write a serious offer.

2)                  Dismissing Imperfect Properties – The degree of your success in buying a house in Metrowest can depend on starting out with a reality check: only very rarely is a property totally perfect for you and priced absolutely right.

3)                  Highest and Best - Unfortunately, the tempting low prices listed for some Massachusetts bank-owned homes also means that it’s increasingly common to encounter the dreaded “multiple offer situation.”  If you find yourself there, be prepared to submit your highest and best offer first -- you may not have another shot.

This changing market doesn’t mean we are headed into the kind of fever-induced ‘bubble’ we saw in the mid- 2000’s.  But for those seeking a deal and waiting for the bottom of the market before buying a house in Hopkinton and Metrowest Communities, the market does not seem to be waiting. 2013 is clearly the time to jump in!

When you are buying a home or selling a home start by working with a seasoned real estate professional who will keep your best interests at heart! I have helped home buyers and sellers for over 25 years. I’ll be there for you throughout the entire process! I can also refer you to reputable mortgage lenders, home inspectors and contractors.

Don’t forget, you can stay on top of Metro West real estate with my FREE monthly newsletter and market updates! The Market Insider report is also free and packed with  useful information.

When you have questions about real estate, contact me first! I will provide the latest sales data and the market experience you can trust!

John Savignano
Hopkinton, MA Real Estate Expert
RE/MAX Executive Realty

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