Do you think the property value for 81 Pine Street will go up significantly in the next few years?

Asked by Chris Fischer, Woburn, MA Mon May 4, 2009

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Territory.c…, Agent, MA,
Mon May 4, 2009
The big-picture real estate market is tied directly to this Country's economic position and right now we are in a weak and volatile place, which makes it very difficult to predict an actual time limit on decreasing property values on a large scale. What you need to remember about real estate is that it is hyper local; one towns trends (in good and bad economic times) could be vastly different than those in the next town. What you should be looking at when trying to decide whether to invest in an area like Stoneham are trends from the last 2 years .... ex: Compare market trends from this year to last year and see if you can find a significant decline (or incline) in days on market, property discounts and average sales prices. Also, calculate absorption rates vs inventory rates to tell you if the market has a healthy turnover right now or if it is over saturated. Check out the real estate sales on pine street and surrounding streets.

I wish we could help you predict exactly what will happen to property values in two years. i feel pretty confident it will take more than 2 years for the big picture real estate market to do what it did in 2003/2004 because new lending regulations won't allow the "loan giveaway" spree that occurred during those times which had a huge effect on buying and selling trends. I think you will see the market level out, become more stable, but not go crazy in overall values. When you buy real estate and think you may sell in just 2/3 years time you should really manage your expectations related to making large $ on the investment unless the place gets bought significantly under value and a lot of cost-effective work gets put into it to match the surrounding homes (you don't want to buy the white elephant on the street).
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Kristine Com…, , 01906
Mon May 4, 2009
All prices will eventually go back up again. The market fluctuates. Three years ago they were sky high, triple of what they are now, even more. Now is the best time to buy and get a great price, pretty much one of the lowest prices you will see for a while, then it will go up. Great investment time!
Thank You,
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