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The headline from the Washington Post reads: More home buyers are bringing all-cash offers to the table While home prices continue to rise in the Greater Boston Area, buyers are competing for houses resulting in bidding wars. When these houses close, they become the new comps which further contributes to pushing market value up. For example, Newton single family home price increased over last year. In addition, see the table below for a market snapshot of 10 Boston Area neighborhoods — prices are constantly higher while days on market have almost consistently decreased. If you would like to see more detailed data, please download the July MarketReport. Yes, this is a Sellers’ Market! But before sellers put their homes on the market, they usually want a pretty good idea of where their next home will be. Since the baby boomers are make up a huge percentage of our population (not to mention that I am in that age group), the question rings, “Where will the boomers move to, if at all?”
“National Association of Realtors® reports market share of all-cash purchases have risen and currently make up 33 percent of the market…Economists point out many reasons for this popular trend. One is restrictive lending standards have caused many buyers, especially wealthy ones, to forgo a loan. Another is the aging baby boom generation, many of whom are trading down and paying for their purchase with cash accumulated from decades of equity.” ~Excerpted from Realtor.org.
If in fact the baby boomer generation buyers are benefitting from equity earned, where are they going? If they are high-end sellers, they may be able to afford that fabulous row house in the city? Others may choose to sit tight or relocate to a state where housing values are more conservative. Where are they going?
Where is the data on where baby boomers are buying? An even bigger question for those that are hanging tight is where will boomers live in their next stage of life? I’m just asking?
One of my FAVORITE summer activities when I was a kid was reading a good book preferably under a shady tree! That’s why I decided to sponsor the 2014 Read a Book, Win a Book Contest! Inspired by Mayor Setti Warren’s Summer Reading Challenge.
Have fun reading this Summer!
HERE’S HOW TO WIN!
Read a book and send me a five sentence report by August 15, 2014.
The first 200 children to send a book report will receive a $5 gift certificate towards any book at Green Planet Kids!
Enter your story by August 15, 2014 by clicking HERE .
MORE READING FUN! “Midsummer Night Pajama Party” with Mayor Warren at Green Planet Kids on Thursday, July 24th at 6:00 PM. Come in your PJ’s for bedtime stories, a sing-along and milk & cookies from Rosie’s Bakery. Green Planet Kids is located at 22 Lincoln Street in Newton. Please call 617-332-7841 to reserve a space your family!
MLS Number: 7171040627 Fernwood Road Newton, MA 02465-1807 3 beds, 2 full baths, basement laundry and storage, attached garage Rent: $3,200 This is a classic colonial on a tree lined street with lots of charm and details that spell “HOME.” Hardwood floors throughout, fireplace in living room, french doors, crown molding, and a beautifully sunny great room with cathedral ceiling and skylight. This room would also make a wonderful master suite. The kitchen was remodeled in 2013 with maple cabinets and granite counters, and a brand new dishwasher. Two full baths have also been remodeled. Brand new heating system and hot water tank. Lots of storage in basement. With easy access to the Commuter Rail and major highways, Mass Turnpike and Route 128, imagine arriving home after an easy commute. Settle in and step out to the covered deck and put something delicious on the grill for dinner.Yes, that beautiful grill stays. Dine al a fresco in your enjoy lovely private yard. This home has one garage space and one additional space tandem to the garage.
Great room with cathedral ceilings and lots of light