The Sellers are always the last to get the memo
Wednesday, October 12
You can see and feel the multifamily market falling in Worcester (except for outlier properties that are in Single Family neighborhoods). But when you look on the MLS the prices look the same. Part of this has to do with the still low inventory. There are only 62 multis for sale as of the writi...
A Housing Recession has arrived- Article review
Friday, September 30
This author believes the slide in home prices has started. We are WorcesterMulti agree. https://www.newsbreak.com/news... They believe a 20% decline in prices will occur due to increases in interest rates. Since a 1% increase in interest rates is supposed to drop prices by 10% this seems reason...
SF Fed says that work from home has driven home price inflation
Wednesday, September 28
Great Article here from the SF Federal Reserve:https://www.frbsf.org/economic...Basically working from home causes inflation.People who work from home want bigger houses.This causes demand to grow for space.This raises prices and RENTS as well.Work from home they believe will stabilize at about 3...
State of the WorcesterMulti market 9/28/2022
Wednesday, September 28
I have gotten a ton of calls in the last 2 weeks from owner occupant buyers and from investors as to the state of the Market for Multifamily. Rates are going up. Residential rates are at 7% Commercial rates are at 6% This takes a bite out of your buying power. a 1% rise in MTG rates decreases yo...
How Real Estate Taxes work in Worcester Massachusetts
Thursday, September 22
I have had a bunch of buyers ask me why they should plan on taxes going up after they buy a property. As we know, Taxes always go up. That is a bit too simplistic. Basically your tax bill is as follows. ASSESSED VALUE X TAX RATE The tax rate is calculated annually, in Worcester it is $15.21 per $...
1/6 of all jobs in MA are in Boston- they are not in Worcester?
Wednesday, September 14
Here is your answer. I was reading an article on Rent Control today and they shared this stat. 1 of 6 Jobs in MA are in Boston. That means that ALL REAL ESTATE revolves around Boston. All other markets are secondary markets. People who make more $ can live closer to Boston. Worcester is clos...