There
have been several markets that have seen large declines in
median and average prices. These community numbers
have often been significantly affected by distressed
properties that are on the market. These include short
sales and foreclosed properties, many with damage from
vacancies, vandalism, theft and deferred maintenance.
Just a few sales can drive average prices.
There are many areas where realistically these homes do
factor into what a retail priced home in good , updated or
new condition should be sold for. Only a real estate
agent with the ability and knowledge can accurately equate
for these factors.
Prices of the homes in good locations and condition have
seen some stability after periods of declines.
Areas of Boston have already begun to see rises, while other
areas are still recording declines. Boston was
one of the markets that was first affected by the "bursting
bubble" a few years back, and is expected to be one of the
first to recover. There is no perfect way to time this
market and no one can truly say what will happen and when it
will but one fact has always remained true, real estate
increase in value over time. It has historically seen
these periods of declines and the only way to know when we
have hit the bottom of the market is when we start to see it
rise again. There are neighborhoods with floods of
foreclosed homes and some where speculative investment by
poorly prepared developers have left units incomplete.
Copper theft has also played a large roll in these serious
decline in values to these foreclosed properties.
National figures do not tell the story of individual
neighborhoods like local real estate agents can.
Insight Realty Group will work with a buyer to determine
their specific needs, provide email updates of home for
sales, welcomes neighborhood specific and unique
search criteria requests, guide a buyer through the entire
process, offer constructive feedback and insightful
solutions when challenges arise. Almost every real
estate transaction has "bumps", and how they are
handle is what defines our office. We can work
individually with a buyer or with a team approach, no what
the arrangement you gain the experience of a unique team.
