If you've ever dreamed of buying your own place, or selling your current house to upgrade, you're no stranger to the rollercoaster of emotions changing home prices can stir up. It's a tale of financial goals, doubts, and a dash of anxiety that many have been through.

But if you put off moving because you’re worried home prices might drop, make no mistake, they’re not going down. In fact, it's just the opposite. National data from several sources says they’ve been going up consistently this year (see graph below):

 


Here’s what this graph shows. In the first half of 2022, home prices rose significantly (the green bars on the left side of the graphs above). Those increases were dramatic and unsustainable.

So, in the second half of the year,…

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Mortgage rates have been back on the rise recently and that’s getting a lot of attention from the press. If you’ve been following the headlines, you may have even seen rates recently reached their highest level in over two decades (see graph below):  


That can feel like a little bit of a gut punch if you’re thinking about making a move. If you’re wondering whether or not you should delay your plans, here’s what you really need to know.   

 How Higher Mortgage Rates Impact You  

 There’s no denying mortgage rates are higher right now than they were in recent years. And, when rates are up, that affects overall home affordability. It works like this. The higher the rate, the more expensive it is to borrow money when you buy a home.…

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In the dynamic and competitive world of real estate, staying ahead of the game is crucial for success. One strategy that can make all the difference in securing the property of your dreams is the savvy use of escalation clauses. In this blog post, we'll delve into what escalation clauses are, how they work, and why incorporating them into your offers can be a game-changer for both buyers and sellers.

Understanding Escalation Clauses

Escalation clauses are powerful tools that real estate agents can use to give their clients a competitive edge in a bidding war. Essentially, an escalation clause automatically increases a buyer's offer by a predetermined amount, usually up to a specified cap, when faced with competing bids. This strategic approach…

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Charlestown, Boston's oldest neighborhood, is undergoing a transformative period as it steps into the development spotlight. The recent adoption of PLAN: Charlestown by the Boston Planning & Development Agency (BPDA) marks a significant milestone after four years of planning. This comprehensive guide has unlocked the potential for economic development and housing production in Charlestown, paving the way for substantial changes in the historically industrial neighborhood.

Challenges and Controversies

Despite the positive outlook, the planning guide has not been without its challenges. High-profile opposition, particularly from the city councilor representing Charlestown, underscores concerns about potential impacts on the neighborhood's…

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Selling your house is a big decision. And that can make it feel both exciting and a little bit nerve-wracking. But the key to a successful sale is finding the perfect listing agent to work with you throughout the process. A listing agent, also known as a seller's agent, helps market and sell your house while advocating for you every step of the way.

But, how do you know you've found the perfect match in an agent? Here are three key skills you’ll want your listing agent to have.

They Price Your House Based on the Latest Data

While it may be tempting to pick the agent who suggests the highest asking price for your house, that strategy may cost you. It’s easy to get caught up in the excitement when you see a bigger number, but overpricing your…

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In the ever-changing landscape of the real estate market, both buyers and sellers are constantly seeking innovative solutions to navigate challenges. One such strategy gaining popularity is the seller buy-down. Let's explore what a seller buy-down entails and how it can be a game-changer for homebuyers facing elevated interest rates.

Understanding Seller Buy-Down

A seller buy-down is a financial arrangement in which the home seller contributes funds to temporarily reduce the buyer's mortgage interest rate. Typically, this reduction is applied during the initial years of the mortgage term, offering a respite from higher monthly payments. This unique arrangement is a win-win, benefiting both the seller and the buyer in distinctive ways.


Benefits…

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In a decisive turn of events this week, the Seaport District witnessed the resurgence of redevelopment proposals for the last remaining 6.2 acres – a coveted piece of real estate in the city's thriving and affluent landscape. The significance of this competition lies not only in the potential transformation of a dormant space but in the obligation of developers to enrich the lives of local residents, as outlined in the stringent request for proposals.

The redevelopment saga took an unexpected twist earlier this year when the Massachusetts Convention Center Authority, amidst criticisms of haste, decided to scrap the initial plans and reopen the bidding process in June. This decision set the stage for a fresh wave of creativity and community-centric…

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During the fourth quarter of last year, some housing experts projected home prices were going to crash in 2023. The media ran with those forecasts and put out headlines calling for doom and gloom in the housing market. All of this negative news coverage made a lot of people have doubts about the strength of the residential real estate market.

If it made you question if you should delay your own plans to move, here’s what you really need to know.

Home Prices Never Crashed

Disregard what you saw in the headlines. The actual data shows home prices were remarkably resilient and performed far better than the media would have you believe (see graph below):


This graph uses reports from three trusted sources to clearly illustrate prices…

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Exciting news is on the horizon for Boston as the Boston Planning & Development Agency (BPDA) recently gave the green light to the ambitious Dorchester Bay City project. This transformative venture is set to breathe new life into the former Bayside Expo Center in Dorchester, unveiling a grand vision that encompasses 1,900 residential units spread across 21 buildings, spanning over 36 acres of land on Dorchester's Columbia Point peninsula.

The master plan, which received approval at the September BPDA meeting, unfolds in three meticulously planned phases. This undertaking is more than just a housing project; it's a thoughtful blend of residential, office, research and development, retail, restaurant, commercial, and cultural spaces. The diversity in…

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 You might remember the housing crash in 2008, even if you didn't own a home at the time. If you’re worried there’s going to be a repeat of what happened back then, there's good news – the housing market now is different from 2008.

One important reason is there aren't enough homes for sale. That means there’s an undersupply, not an oversupply like the last time. For the market to crash, there would have to be too many houses for sale, but the data doesn't show that happening.

Housing supply comes from three main sources:

  • Homeowners deciding to sell their houses
  • Newly built homes
  • Distressed properties (foreclosures or short sales)

Here’s a closer look at today's housing inventory to understand why this isn’t like 2008.

…

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