I have recently spent a lot of energy speaking to homebuyers in my blog posts. The reason why? There are so many of them clamoring for homes in the Boston real estate market. This shouldn’t come as a surprise, however. We’ve heard for the past several months about record low interest rates are making now a perfect time to buy. Well, it seems as though buyers have finally caught on. We’ve now encountered a home inventory so low that there are bidding wars over new listings.
Sellers, where are you?!
On the KenSnyderHomes Facebook page, I post a blend of real estate news and my own personal stories representing homebuyers who are up against six, seven, and even 25 competing offers on any given home in Boston. With inventory so low, Boston real estate agents, such as myself, have to be aggressive to not only snatch up new listings, but also to help each homebuyer through the negotiation process.
In response to the imbalanced supply and demand in the Boston real estate market, NPR recently published a piece entitled, “Realtors ask: ‘What can I do to get you OUT of that House?’” I was thrilled to be asked to share my experience as a Boston real estate agent and about my view on such a competitive housing market. I encourage you to check out the entire NPR piece to hear some of my personal experiences of working with homebuyers and home sellers in the competitive Boston real estate market.
While the evidence that we’re in a seller’s market is plain to see, I understand the trepidation many homeowners have about deciding to put their homes on the market. Homeowners are keeping a close eye on home prices to see how much higher they will go before considering sticking a “For Sale” sign in the front yard. As a Boston real estate agent, I want to caution these folks. If you purchased your home near the bottom of the housing market, you have probably built up some good equity that can go towards the purchase of a new home. Waiting to sell your home will likely result in a missed opportunity to snag a low interest rate. Not to mention, you would be paying a higher price for your move-up home than you’d probably like.
Although the spring weather is a bit behind this year, the Boston real estate market sure is heating up. Homebuyers are very competitive this season. With home prices and sales on an upward trend, this is the perfect time to hop off the fence and list your home for sale. As always, please contact me if you’re considering selling your home, if you’ve tried in the past without success, or if you just have some questions you’d like to bounce off of a Boston real estate agent. I hope to hear from you soon!
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