Interest Rates Should Hold for the Next Year…
Buying Real Estate
No one knows the future and predicting it is very dangerous, but if you don’t go out on a limb, you never get the chance to fall off!
My feeling for the coming year is that the Real Estate market in our area (Boston/Metro West) will continue to improve; this means prices will continue to stabilize and homes will again increase in value.
The average sale price for condos, single family homes and multifamily homes has increased over the last year. Here are some estimated values:
- Condos 2010-$265,000 2011-$280,000
- 1 Family 2010-$890,000 2011-$911,000
- Multi’s 2010-$580,000 2011-$590,000
I feel that the lending situation should get better too. Having said that, make sure your credit score is strong and you have a game plan on what, and where you would like to purchase your new home!
