4 Responses to “Your guess, as good as mine” »»

1. Chris
   Comment by Chris | 06/28/07 at 11:13 am

   I

   pretty much agree. Even though it worked very well for a few years there, people should not buy

   with the intent of making a big profit in a short time. Those days are gone. Find a home you

   like, you feel comfortable with the price that you can afford, in a nice area and you should be

   safe. I don’t think it has to be over 5 years, but you should stay at least 3 to feel safe about

   your investment. You may not make a lot but at least you are building some equity and most

   importantly, to me anyway, enjoying the benefits of being a homeowner.

2. Cara dB
   Comment by Cara dB | 06/28/07 at 11:38 am

   Did you see this article on Salon about subprime loans and their effect on interest rates,

   building and

   foreclosure?

   http://www.salon.com/tech/htww/2007/06/27/subprime_cdos/index.html

3. Atlanta Realtor
   Comment by Atlanta Realtor | 06/28/07 at 2:46 pm

   cool website.

4. Rob Beland
   Comment by Rob Beland | 06/28/07 at 4:55 pm

   I don’t know about the Boston market but in my area I think fall off in condo sales is due in

   part to the fact that detached homes have come down in price so much. Condos were hot a few years

   ago which sent the prices through the roof even though they were still affordable as compared to

   single family homes. Now that gap is getting smaller and the condos aren’t looking like good

   deals. Unfortunately so many were being built that now developers are stuck with inventory that

   they have to sell off at deep discounts.

   I remember four or five years ago when condo

   developments were being built in phases and the units in the first phase would sell out and then by

   the time the third phase was being built the first phase of condos were already on the resale

   market with huge profits. I feel bad for the people that bought into that frenzy. These people are

   sitting on condos they paid $300K + for that are maybe worth $225K now…

   I also subscribe

   to the back to the norm theory…those days of skyrocketing prices are gone and the market we are

   in now has leveled off for a while. I’m not saying we won’t see that spike again but it will be a

   while.

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