Doing so will give you a feel for what’s currently going on in the market and give you the opportunity to think about what would and would not work for you. That’s perfectly natural and one of the major reasons many real estate professionals suggest buyers attend many open houses early in the process. While it’s worth knowing that you could lose a potential property to a more aggressive bidder, some oft-used strategies are often not to the buyer’s advantage. While these waivers could make a bid more attractive to a seller, they can also create severe long-term problems for a new property owner who may be unaware of an unseen problem, such as a termite infestation or a lower-than-expected property value. More established buyers can skip bank financing and purchase a home with cash, a move that allows them to waive their right to an inspection or appraisal. Tight market bidders often offer more than the asking price for homes for sale in Boston. Multiple-offer scenarios and biddings wars are frequently a normal part of the process, sometimes while buyers are still touring the home in question. Homes will often sell much faster than many new home shoppers would expect. In addition, sought-after Boston neighborhoods have witnessed significant price hikes, and Worcester, a city in Boston’s metro area, also recorded one the country’s largest jumps in home prices in 2021.Ī tight real estate market means crowded open houses. Boston’s Back Bay is the second-most expensive zip code in the country as of 2021. Know the marketĪccording to Zillow, the median home value in Boston is just over $700,000, far exceeding the national median. Having a basic understanding of how your first-home needs and wants line up with the reality of the market can help you navigate real estate in Boston. If you’re dreaming of making Beantown your home, here’s a roadmap to help you successfully navigate the red-hot, ultracompetitive Boston real estate market. From immigrant communities to student populations to the science and biotechnology industries, Boston has a place for everyone. The Boston metro area comprises many cities and towns: some are dense and urban, whereas others are suburban, or even pastoral. A vibrant economy, prestigious universities, easy walkability and stunning architecture - is it any wonder Boston, Massachusetts continues to loom large in the imaginations of strivers, adventurers and potential transplants?
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