In a recent survey with realtor.com, due to low inventory (down 8.5% from last February), the spring market will be competitive. The best advice to give buyers this spring is to know your exact comfort zone and what is the maximum price you are willing to pay. It is very important to be thinking about what you can afford as mortgage rates go higher especially if they move up quickly. Over 40 percent of buyers are looking to put down more than 20% in hopes of getting ahead of the competition, and most buyers have been actively looking for a home for over seven months. Most hope they will be able to purchase a house within the next six months. So, if you are planning on house hunting this Spring, good luck. If you plan to sell this Spring, chances are your
As the Spring Market begins to heat up, we wanted to show you a list of the most recent median home prices. There are a lot of great suburban towns to consider when looking into buying a home. Not sure where to start? Contact us and we would be happy to help you with the process.
A new building proposal is offically under review. This new proposed building, SOBO Place, will feature a six-story mixed use building with 50 apartment residences, ground floor retail space, with close access to Broadway station. The building would include seven affordable units and two middle income units. Amenities would also include a roof deck with grills and an underground parking garage. Stay tuned as we learn more about this project.
Tom English's of Dorchester will eventually be replaced by a 5 story building with 38 residential units. Plans have been filed for 951-951A Dorchester Avenue by developer Adam Sarbaugh. Part of the plans for the building include a restaurant and market on the ground floor. There will also be 26 parking spots available. Stay tuned about more from this mixed use development!
A local Dorchester developer is looking into two parcels of land close to the Four Corners Commuter Rail Station. The proposed building would be a 27-unit residential building. This would be a five story building that would bring more people to the neighborhood. 23 of the units would be at market rate and four would be considered affordable to low or moderate income residents. The units would include nine studios, 12 one-bedroom units, five two-bedroom units with a range of 500-1,160 sq. ft. This would also include enclosed parking, a bike room, lounge, community room, and large open space in the back of the units. The developer is currently seeking zoning relief, so stay tuned as this proposals plans continue to unfold.
Real estate is always a great investment. According to researchers, 2018 is a great year to buy due to more moderate gains in home prices and rising inventory levels. We know the process can be quite daunting which is why we are here to guide you through everything. Here are a few reasons why we this you should consider buying in 2018.
1. Rates are going up. After a few years of low-interest rates, the federal government had to make some increases. The rate for a 30-year mortgage increased to 4% and is anticipated to reach 5% by the end of the year. Economic growth has something to do with that momentum, which is why it may be important to act sooner rather than later.
2. Prices are on the rise, but not super fast. It is anticipated that price