New programs in the works

Today the state announced it is trying to stabilize the housing market by giving buyers $20,000 to $40,000 to renovate foreclosures. The program will be available to buyers through Mass Housing and is limited to communities hardest hit by the foreclosure crisis and buyers who will be owner-occupying. The full details are still coming out and we will try to update as we know more.

Time is running out

Did you know that boston residents that owner occupy their home can apply for a residential tax exemption? It is a huge savings but the window to apply is limited, ending March 31st. Visit this website to get the full details.

Help for Boston Residents

The city of Boston is offering an incentive for current residents to set down roots and buy a home in Boston. I have had one client utilize this program and the program covered all of their closing costs. As with many municipal/public programs, there are some hoops to jump though, but it can certainly be worth it covering up to 3% of the purchase price. Click here to visit the program's website.

No Time to Ski!

So traditionally, the winter is a slow time for real estate, but not this year. We have had a pretty busy winter so far. Just listed 14 Wilbur Street units 1,2 and 3 have flown off the shelf with only unit #2 left. What does this tell me? We've got serious buyers taking advantage of great interest rates and jumping on prime properties. Now, this by no means indicates a real estate recovery back to 2005, but it does say that people still want a place to live and are willing to jump on attractive, well-priced units. In fact, I have seen quite a few properties go under agreement and it looks like entry price point for condos is hovering around $200-$250k for market units (not foreclosures). A year ago there were 312 condos on the market in Dorchester, 6 months ago there were 272 and today there are 188. Clearly we are headed towards a more balanced market. The big factor affecting a recovery right now as I see it is employment. If people can keep their jobs and their homes, prices may actually level out. We'll see!

All in a night's work

Check out Justin going above and beyond by grinding off a frozen lockbox so we could get in an make sure all the smoke detectors were up and running in one of our client's listings. Does your agent do this for you? They should and it is just one example of how we do more.