If you wait for the Robins, Spring will be Over.
October 28th, 2008
I couldn’t keep from creating this blog title after reading it in a Warren Buffett Op Ed piece. It was in the New York Times Oct 17th. Now, I understand that everyone will critize the Realtor speaking positive about the real estate marketplace, but I am excited about this Low!
When is the “Low”?
You won’t know it until you see it in the rear view mirror.
Now don’t get me wrong, I am a real estate agent in a very down market. I am working harder and dealing with more emotions then I have in my 10 years. If I can manage scraping up a little cash, I will be putting it into equities and real estate NOW.
I worked an open house a few weeks ago, and at least 3/4 of the visitors were interested, but waiting for a bit longer for the market to fall further. This was a very real display of pent-up demand.
Another contridictory real world example is a client looking for a $800K home in Holliston but not having more than a handful of options in the past 3 months. Do I really need to direct mail a neighborhood to let them know I have a Buyer for them? That is not the real estate market that the Boston Globe is reporting about!
In scanning over the region’s 3rd Quarter real estate stats, the median prices are reporting grim news to homeowners:
Holliston down 13.6%
Hopkinton down 8.7%
Framingham down 7.2%
Ashland down 7%
Natick down 5.4%
In regards to the number of sales, the region has 12.8% fewer sales!
OK, where you are ready to jump out a window, I am now salivating! Yes, I do own a home, but I am not ready to move yet. Therefore, no sweat.
Take a deep breath Massachusetts, the sky has not fallen and it is time to start figuring out how to take advantage of this market, not how to escape it!
Categories: Ashland, Framingham, Holliston, Hopkinton, Market Conditions, Real Estate
This entry was posted on Tuesday, October 28th, 2008 at 10:26 pm and is filed under Ashland, Framingham, Holliston, Hopkinton, Market Conditions, Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Absolutely loved this post, probably one of the best this year. Merry Christmas and Happy new year! looking forward to read more interesting posts like this in 2009!
Believe you have to consider all aspects in the current economic climate – personally do no think we have seen the full extent of the recesssion, so would be cautious in considering.