Boston Condos for sale Sale
Answering today’s Boston real estate questions in 2021
There are questions that the Realtor should not answer. Generally, if it has to do with our client’s motivation or financial information we owe our clients confidentiality.
Boston condo buyers or their agents may ask why a homeowner is selling or what their bottom line is or where they are moving to. Often buyers will have questions about who lives in the downtown Boston condo. They will ask about age and family status. None of those questions are relevant and usually, we can’t or won’t answer.
When it comes to motivation letting Boston condo buyers know that a seller has to move or now owns two homes weakens the seller’s negotiating position. Sellers always have a bottom line but it isn’t wise to share it. Some sellers don’t share information with their agents.
Sellers agents can answer questions about the house. How old is the roof? Has the owner ever had water in the basement?
Questions about the house and about the property are expected. It is all about the real estate not about the owners.
We owe our buyer clients confidentiality too.
Boston Condos for sale Sale
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Answering today’s Boston real estate questions in 2021
Boston Real Estate in 2021
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Why hasn’t there been more disruption to the Boston real estate industry?
Because change would need to come from the consumers – Boston real estate brokers like it the way it is. As Boston condo buyers just grab an agent and go – they get what they get, and move on. Until an outside company spends millions of dollars to advertise their disruptive new alternative, any changes will happen slowly, not likely to happen in 2021.
How many off-market Boston condo sales are happening?
I’d say less than 5% of total sales. I just saw a good example where a seller/agent could have sold her house to an early buyer, but decided to hit the open market instead. These days, it is irresistible for sellers to find what the market will bear. The pocket/off-market sales happen where sellers aren’t as invested in getting every last dollar, like out-of-town individuals who inherit who just want to hurry up and get their hands on the money.
Is another Boston condo bubble forming in 2021?
Probably, but it’s not as pop-able because the vast majority of new buyers over the last decade have used a decent down payment, and had to survive a rigorous qualification to get a loan. But with that said, we are experiencing an economic downturn with millions losing their job it continues all bets are off. Let’s call it a perma-bubble for now, where sellers are prone to wait for months or years to see if any buyer will come along.
The Boston real estate market is complex and can raise a lot of questions for people. If it’s your first time Back Bay or Beacon Hill condo buyer you’ll need to be aware of the local market as it applies specifically to your situation. That’s where the Ford Realty Inc., the team can be a big help. As Boston real estate brokers, we take the time and effort to help you with your Boston real estate needs. We are here to consult with you, answer questions, and assist you in making informed decisions.
Yesterday, one of my readers of the Boston Real Estate Blog, asked me to answer a few more common questions which I’ll share with you:
I’m a small business owner and I want to buy a North End condo. is financing going to be an issue?
Having your finances in order is the number one priority for a successful Boston real estate transaction in the North End. This reader previously owned a small business and understands the unique challenges business owners face. Traditional lending can have requirements business owners find difficult to comply with, but that doesn’t mean it’s impossible. Here at Ford Realty Inc.,, we work with a variety of lenders who are experts at working with business owners. We’ll take the time to evaluate your situation and connect you with lenders that suit your needs. Together, we’ll identify solutions you may not have considered that will help you get into your new Boston North End condo
Check out our latest Boston real estate Google Reviews
Boston Real Estate in 2021
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