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Boston Area Luxury Homes Market Report Thanksgiving Week

price-ilhm-thanksgiving16
price-ilhm-thanksgiving16

Boston Area Luxury Homes Market Report Thanksgiving Week comes to you from the Institute for Luxury Home Marketing for which I am a Million Dollar Guild member which is 1% of all the Realtors in the country.  Interest rates are sneaking up since we now have a new President Elect.  This happens with each election. Before the election investors pull their money from the more volatile stock market and put it into treasury bonds.  Now that this is over the interest rates will move forward. The better the economy, the higher the interest rates. Prices across the 10 towns in the Boston Area are moving up.

inventory-ilhm-thanksgiving16
inventory-ilhm-thanksgiving16

When there is more inventory, the prices slide a bit. We see this in towns like Weston which is flooded right now with luxury listings.  Pricing can be tricky and it is essential that you price your property in relation to the competition on the market at the time you are on the market. Forgetting to consider your competition is a typical average agent mistake.  A house is a commodity to the Buyer while it is a home for the Seller. These disparate valuations can cause issues with the sale.

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DOM-ilhm-thanksgiving16

The longer your house is on the market the lower the perceived value is to the Buyer. The key is to price correctly right out of the box and get under agreement in the first 30 days. From there it can be a down hill slide. Strategic pricing and aggressive marketing make all the difference.  Make sure you choose an agent who knows who your buyer will be and how to communicate with them through the internet.  The days of your local broker being the “go to” person is forever changed.  Your “go to” person is one who understands the market and the marketing.

inventory-ilhm-thanksgiving16
inventory-ilhm-thanksgiving16

The number of homes on the market can impact your sale both positively and negatively.  Your agent should be speaking with you weekly about what is happening in the market.  With luxury homes you can not leave things to chance.  While there is a smaller pool of people who can purchase luxury properties these people are sophisticated buyers and so you need a sophisticated and strategic approach to the sale.  For specific information about your home give me a call, 617-774-8292. Boston Area Luxury Homes Market Report Thanksgiving Week

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The Top Ten Reasons Why Americans Buy Homes

Last week, the inaugural “Homebuyer Insights Report” was released by the Bank of America. The report revealed the reasons why consumers purchase homes and what their feelings are regarding homeownership.

Consumer Lending Executive, D. Steve Boland, explained:

“Homebuyers today are motivated by both emotional and practical reasons. Nearly all want more space, but a majority of homebuyers, especially those purchasing their first home, are also looking for a place to call their own, put down roots and make memories. They value the emotional benefits of owning a home as much as the financial ones.”

The Top Reasons Why Americans Buy Homes| Simplifying The Market

Boland went on to say:

“The path to homeownership is a journey and can be as overwhelming as it is exciting. For many people, this is the single most significant financial transaction they will ever make.”

This was evidenced in the report when they asked today’s homebuyers to define homeownership. Their answers tell the whole story.

The Top Reasons Why Americans Buy Homes| Simplifying The Market

Bottom Line

Homeownership has always been a part of the American Dream and survey after survey confirms this will always be the case.

The process of home buying and selling demands some rigor.  Not all agents are created equal, but most agents share the ability to schmooze with you.  Most agents will want to speak mostly about themselves and their agency. How they are better, smarter, more hard working but have no ability to quantify that for you.

Your real estate professional handles one of the most important transactions in your life.  Not only is it this a great deal of money involved, it is also a place where you will live and build your life for a period of time.  Your home is a place you will create and make memories. Great real estate professionals understand that the buyer and the seller are not only looking for the best deal for their clients, they are also looking for the best outcome for you in the long run. Not all agents are the same, find a great one to work with. These are the top ten reasons Americans buy homes