If you are sitting on the fence  when it comes to deciding whether or not you want to put your house on the market, take a good look at local conditions. A real estate agent familiar with the immediate area can tell you how many listings are on the market in your area and how many homes have been sold over the past year. Using these numbers, you can calculate how fast homes are selling and how many months’ inventory remains on the market. Anything less than six months’ inventory of unsold homes tends to favor sellers. A knowledgeable agent can also provide a further breakdown of the local competition (local homes comparable to yours) and provide pricing recommendations

If you are considering selling your real estate, contact CENTURY 21 SEXTON & DONOHUE. We will meet with you and provide you with a free market analysis of your property, including an estimate of its current value. Get the best return for your real estate investment! We’re here for you at (781) 665-6660. The office is conveniently located at Essex St., just across the street from Shaw’s. We are "A Team Effort”. You will benefit from our real estate knowledge and experience.

HINT: Now more than just about any other time in recent memory, real estate is local, so pay closer attention to what your local agent has to say than to national statistics and widespread generalizations.    

            By some measures, it has been two decades since homes were as affordable as they are now. If affordability is measured as the ratio of median home price to median family income, the ratio on a nationwide basis is 2.6  compared with the long-term average of 2.8 and a peak ratio of 4.1 in 2005. While these figures represent the average, not the extremes, and exceptions certainly exist, they point to a trend. To look at home affordability another way, since 2006, the average principal-and-interest payment has fallen from $1063 to $644. Again, interest rates fluctuate, but the trend is clear. Prospective buyers should take these statistics into careful consideration when it comes to deciding to take action. 

Lower interest rates and home prices have made buyer far more accessible that it has been in a long time. Now may be the time to purchase property. To learn more, reach CENTURY 21 SEXTON & DONOHUE today at (781) 665-6660. We will arrange a meeting when we will discuss your real estate needs and expectations. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. Meeting your real estate goals is our #1 priority!

HINT: As many have turned to renting as an alternative to buying a home, rental vacancy rates are generally falling and rents are increasing.