Home Buying in 02148>Question Details

hoop, Home Buyer in 02148

where do you think the market is heading?

Asked by hoop, 02148 Thu Aug 27, 2009

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I found this question from 2 years ago, while browsing Trulia. I find it interesting that 2 years ago, every agent says that Malden house values were at bottom and would only appreciate. I'm sure if you asked the question today, you would get similar answers, that we are at the bottom and that we are due for an increase in property values. I am not attacking the expertise of the realtors, but I wonder if their predictions proved true. I've been looking for a home in Malden for awhile and it looks to me like Malden has declined over these past two years. Moreover, I'm no expert, but I'll take an educated guess that Malden is not going to increase anytime soon. Why do you think there is so much inventory in Malden compared to other towns? because a lot of sellers have a hunch that might be the case as well. I've lived in Malden for five years. While it was never a great place to live in my opinion, it has declined since that time 5 years ago when it was voted the best place to live if you have children. Malden today seems more dangerous and more depressed than it did when I moved her. I talked to one homeowner who was selling her lovely home who said "I wish Malden would make a recovery, but I know now it never will. It's too late."
1 vote Thank Flag Link Sun Nov 6, 2011
Hi hoop! I have been practicing real estate in Malden, MA for over 20 years and during this time I have seen Malden's ups and downs. Currently, in Malden we are on an upward trend both in value and fewer days on the market. It is may professional opinion that value will continue to increase in the Malden real estate market.

GOOD LUCK!

Mark Warren
0 votes Thank Flag Link Wed Oct 28, 2009
Depends on the market area!

Unfortunately there are some loans that people never should have gotten out there that may have been investments or flips that could still come unglued! However prices are at the lowest, interest rates can be in the low 5's to high 6's but these are still historical lows, the first time buyer program gives up to 8,000.00 to first timers "check out realtor.com for the full list"!

However prices are alredy adjusted base on the area and usually priced to sell. Mortgages are harder to get as under writers are making sure that the money used is not borrowed from an unfamiliar source!!!!!!
0 votes Thank Flag Link Fri Aug 28, 2009
Based upon current inventory levels being stable, we have passed the bottom of the market and are on our way up again. Inventory has not been this low since BEFORE the peak of the market. Prices are starting to increase although the banks/appraisers don't want them to. Barring a glut of foreclosures hitting the market or a significant increase in interest rates, we've begun the long climb out of the pit.
Web Reference: http://www.lynnforsale.com
0 votes Thank Flag Link Thu Aug 27, 2009
I beleive that the market is stabilizing. That property values are at a base value that can only move up in the future. Interest rates have gone up alittle and fluxuate daily. Buying a home is a minnimum 5 yr investment. A buyer can not look at purchasing and selling next year to make a profit.

If you are looking to buy, now is the time, first time home buyer $8,000 credit is going to stop as of Nov 30th.
If you see something you like, put in an offer. There are bad properties out there that are not worth much and are money pits. My advice would be to get a Buyer's Agent and let them do the research and leg work for you. There is NO payment from you. The Buyer's Agent will split the commission with the listing agent.

Good Luck, if I can be of assistance, please feel free to contact me.
0 votes Thank Flag Link Thu Aug 27, 2009
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