Great Homes Realty
Short Sale & Pre-Foreclosure Certified Specialist
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Some towns, points, and types are on the market longer, and therefore more plentiful than others.
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Bobby another question maybe what will happen when we get realistic interest rates????
Low interest rates high prices, High interest rates low prices. Simple math
Territory does that mean that all these new buyers creating a shortage of homes will hold onto them when and if values drop drastically due to realistic interest rates.
Or will there be another rash of foreclosures or short sales?
People move for jobs or to upgrade or downgrade. Boston is and always will be a desirable market place. As it has jobs, schools, hospitals, high tech, biotech and any new tech. The better suburbs are experience the same shortage of properly priced properties. People don't want to be over extended or use their home as a piggy bank anymore. They've seen what can happen and happen quickly.
But we may sound like brats calling just under 500k affordable.
So what I see is that we are in a healthy market and what you will experience is that those high overpriced properties will seek an equilibrium, and or as you said the new construction in the price that is more affordable being built.