As a North of Boston Real Estate agent, I’m often asked if now is a good time to buy a home.  This question has plagued the national housing market the past few years as we’ve seen the roller coaster of the real estate market evening out and then slipping to record lows.  There’s great hope for the future of the housing market and when asked this question, I encourage potential buyers that now is an ideal time to buy a home in the North of Boston area!

 

We’re all aware that we’re currently in a buyers’ market, but being in this position is much more than simply the cost of a home, although that does play a role.  Below are five substantial reasons why buying a North of Boston home now is a wise decision.

 

1. Low Home Prices- In this buyers market, the competition for sellers is high.  North of Boston homes are selling at record low prices making now a perfect time to cash in on a great deal.

 

2. Low Mortgage Rates- Buyers are able to begin building equity right after they close on a home because of today’s lower mortgage rates. There’s hope that these low rates will encourage potential buyers to jump in to the real estate market and help with the healing process. 

 

3. Move-in Ready Homes- According to recent studies by the Harvard Joint Center on Housing, there have been many home owners who have held off on selling their home. They’ve been waiting for the market to pick back up, and while waiting have either put money into remodeling or have kept their home in good repair. They wanted to make sure that their North of Boston home was in ideal condition before listing since it is a buyer’s market with many other homes from which buyers can choose. That’s great news for those who are buying as most homes are in move-in ready condition!

 

4. Low Down Payment Mortgages Available Low-down-payment financing through Federal Housing Administration-insured mortgages is available as an additional incentive to buy a house now. Down payment minimum requirements also fluctuate and may increase as the market heats up, so potential buyers with less cash to close on a deal may be well-advised to buy now.

 

5. Lenders Offer No-Fee Mortgages Many banks and other lending institutions are waiving mortgage loan generation and other fees and points (each point represents 1% of the loan amount), thereby reducing the cost of buying.


These five reasons should encourage you as you consider buying a North of Boston home.  There are many beautiful homes throughout the area and new homes are coming on the North of Boston Real Estate market on a weekly basis, helping to ensure that you’ll find a home that fits your needs, lifestyle and budget!

 

If you are thinking of your next home purchase and have questions about buying a North of Boston home, please let me know!  I would be happy to help you search for, find and close the deal on your North of Boston home!

 

Sven Andersen
North of Boston Real Estate Expert

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Searching for a new place in Winchester to call home? The Sven Andersen Team makes it easy for you to search for your new Winchester home. This FREE, NO-OBLIGATION service can help you find the home of your dreams! Simply visit http://www.northofbostonlistings.com/ and fill out the form to start your auto-email home search today! It's just that easy! The Sven Andersen Team is always willing to help and will always respect your privacy; we leave it up to you to contact US when you're ready to buy or sell in the Winchester area.

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If you, friends, relatives, or colleagues are considering buying or selling a home, condo, or land, please consider contacting Sven for assistance in your search. Sven coverage area includes: Winchester, Belmont, Medford, Woburn, Lexington, Arlington, Melrose, Stoneham, and Reading.  We also offer a complimentary referral service, called "Anywhere Agents," to assist folks who are looking to buy or sell outside our coverage area, including international locations. We will interview prospective agents in the area(s) you or a family member are considering to assure you get the most knowledgeable Real Estate Professional to assist in your home buying/selling needs.