Happy new year!
You’ve been wondering what Real Estate moves to make in 2020. So, I’ve been keeping my ear to the ground. Here’s what I got … from my ear to yours:
What makes us happy
– 2019 was a great year for Boston Real Estate
– We are in booming bean town. Our local economy is still doing very well indeed.
– Unemployment in Massachusetts is the lowest it has been for a while.
– We are creating new jobs
– We are known as a hub for innovation – be it in the health/pharma/high tech industry and our excellent universities
What stays the same
– Since net, net people are moving into the Boston area – and there were few housing choices to begin with – inventory continues to be (very) low in most of the areas you’re living in, and/or are wanting to move to!
– Most new construction in greater Boston (which is slim to begin with) targets the ultra-luxury sector – which is not helping our severe housing crunch and long(er) commutes
What makes us wary
– We’ve all been hearing about the global slowdown and we are not insulated from it. This makes us thoughtful and less impulsive in our purchases – not a bad thing.
– Election years are always rocky – and adding impeachment to the mix – can leave us all wondering where things are going!
– More middle east turmoil – hmm!
– Our commutes seem to be getting longer and longer … compelling us to think harder about our ideal home/workplace
– For our younger professionals growing up in the ‘sharing’ economy, questions on whether to make a commitment to buy
What all this means for your Real Estate transactions in the Boston Area in 2020:
If you’re looking to sell
– Year over year stats for ’solds’ in the areas around us are very good indeed
– As long as you’re reasonable in your expectations, working with a great Realtor (ahem), present your property well and price it right you should end up in a good place
If you’re looking to buy
– Know that what makes people hesitate and think– actually makes for a healthier, less crazy Real Estate market.
– It is always good for buyers to reflect more and really know what they want.
– A good Realtor can do the analysis on the right price to pay … and help negotiate to a ‘close’ in a multiple offer situation.
As always, if you or someone you know is looking to buy or sell or just get a free assessment of what your house is worth in today’s market. Don’t hesitate to be in touch.
Wishing all of you – my friends, clients, and referral partners a fabulous 2020!
Lotika