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North Andover, Andover, Methuen, Haverhill and Merrimack Valley MA Real Estate home sale and home buyer representation.
Working together on
your real estate goals.
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Ron Carpenito's
Prime Property Team
powered by:
Keller Williams Realty
168 North Main St
Andover, MA
Mon-Fri 9:30-5:00 EST
Sat-Sun By Appointment
617-797-8710 Mobile
978-269-5425 Office
978-327-5182 Fax
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Real Estate Update Sept 27th, 2006
All it takes is a look at a newspaper, TV news report or Sunday afternoon drive and you can easily see that the market has changed. It was just reported that for the first time in 10 years the median sale price of a single family home was lower this year than last, and new housing starts are also coming in lower. These numbers are of course a national snapshot with various ups and downs in particular regions. In our region we are experiencing increasing inventories of homes for sale with a reduction in actual sales taking place. This has been the case for the entire year in this area, so its nothing new to us. The $64,000 question is will this situation level off or go further towards a buyers market. There are ALOT of factors that can effect the actual outcome. Interest Rates, Unemployment Rates, Inventory Rates, Foreclosure rates, Inflation, Geo-Politcal events and of course Future Outlook. My crystal ball is as good as yours, and we can only make the best decisions with the information at hand at the current time.
It helps to think of a home purchase or sale as a LIFE DECISION and not just an INVESTMENT decision. You live in your home, not in your stock portfolio. If your like most people you are going to have to pay to live somewhere. So the decision to pay rent or a mortgage is up to you. With a lack of home appreciating starting to take place, I find it fascinating that people are talking about selling their homes and renting again. I think we are all in need of a reminder about the OTHER BENEFITS of home ownership like Tax deductions, More household participation in civic affairs, Lessened welfare dependency among households, Lower community crime rates, Higher educational performance and better behavior of children, Better household health, Family Stability and reduced stress and yes Financial gain through appreciation and/or depreciation of investment properties.
Home ownership will always have more benefits than renting regardless of current market conditions. And with all the financial products available to consumers today, home ownership should always be seriously considered.
Ron Carpenito's Prime Property Team is a full service real estate team serving the Merrimack Valley and New England committed to changing lives one home at a time. Call today to discuss your specific situation and needs.
Data provided by MLS. |
The Entire Keller Williams Andover Office
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