Friday, February 17, 2012

Flying off the Shelf (well, so to speak)

Yes, this home is really "flying" in the air. Photo: National Geographic

Today, the  Boston Herald posted that over 274 condos and single family homes have gone under agreement in a week or less in Massachusetts. This can be seen all over the state. Well, it is not just single family homes and condos. According to MLS, in less than 5 days, a 6 family home at 195 West 3rd Street in South Boston went under agreement AND it was listed at $1,200,000 AND it needs updating. This is exciting news that there is consumer confidence in the market. In just over 8 days, a condo also in South Boston, boasting 13+ foot ceilings, amazing views and parking with an asking price of $849,000 went into contract. For buyers just getting into the market, there are opportunities as well. In Marshfield, a raised ranch offering over 1825 square feet in living space went under agreement in 4 days!
There are many factors that contribute to a successful sale of a property. Two factors include pricing, which is critical, you need to price it right, if you don't then it will sit...this is a guarantee. Creating a visual impression which entails photography of your home, decluttering and staging your home for sale to appeal to the masses.
Other factors, that are contributing to homes going under contract fast are mortgage rates at an all time low and the lack of inventory.

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