bostonbubble.com

[Divadkire]

As a potential home buyer in MA I find the pricing of houses to be hit or miss. Smart sellers are starting to list their homes at close to the assessed value. Those that price more than $25K above the assessed value don't seem to be selling. Houses priced $25K below the assessed value seem to be moving.

These are the smart sellers because they have the foresight to cut their potential losses as the market starts to unravel.

I am waiting for a desperate seller that is willing to take a low-ball offer, otherwise I will continue to rent. The stubborn seller will end up with far less $ for their home as the prices have to fall further before the correction is complete. Give in to the sale, if you hold on too long you will lose more.

The market needs some dominoes to start falling, too many potential buyers are waiting for their house to sell, this will cause an even larger glut of houses. :

[AgentGrn]

Considering what my wife and I can sanely afford, it's all a miss when I compare similar properties to what I rent.

If I could find a nice 2BR house for about $1k a month in the Worcester area, then I might be interested in taking a look. And that's just what I'm willing to pay the bank outside of taxes and other crapola which will undoubtely cost us more.

I figure the correction has a ways to go, and I'm not under any sort of pressure until my son gets closer to school age, which is > 5 years away.