It appears that buying real estate in and around Boston might actually be better than renting. The New York Times uses a rent ratio that compares “the purchase price of a typical house divided by the annual rent of a similar house”.  According to the article one should buy if the number is below 20, rent if it is above 20.  The “rent ratio” in Boston is 17.6.

Interest rates are currently low, as are property values, and it is a great time to buy greater Boston real estate.  If you are considering jumping into home ownership, the first step is realizing how much you can afford and getting pre-qualified for a mortgage. A qualified mortgage broker can assist you with this step.

There are some great buys in the $500’s, and even some in the $400’s in Wellesley. For advice about purchasing a home in the western suburbs, and to see active listings, call Jane Neilson at 781-223-7338.

Click here to read the New York Times article regarding the rent/buy ratio.

Contact Pinnacle Residential Properties in Wellesley, MA for the best in real estate service, knowledge and experience.  Click here for a complimentary search of the MLS real estate listings where you will have access to all homes currently on the market in Wellesley, Weston, Needham, Dover and surrounding communities.

The home buyer tax credit has expired, however historically low mortgage rates are making it a great time to purchase a Metro West Boston home.  Low interest rates can mean a savings of tens of thousands of dollars over the life of a loan.   So, if you have been considering buying a home in Wellesley, Needham or Dover, now just may be the perfect time to get out and start looking.

If your credit is excellent, the rate for a 30 year fixed rate mortgage is Read the rest of this entry »

According to recent data and reports, Boston MA is one city which is recovering from the recession.  Forbes recently created a list of cities that are recovering from the Recession and Boston is ranked number Read the rest of this entry »

In the two weeks from January 11 through January 24, seven new single family homes came on the market in Weston and three sold.  Read the rest of this entry »

We’ve actually had an increase in activity during these last two weeks as evidenced by the six pending properties – two have gone under agreement and there were four accepted offers.  In addition, there have been five new listings and three price reductions.  As usual given the time of the year, our inventory continues to decrease.  There are 74 active listings, an almost 16% drop from two weeks ago.  But our inventory is still approximately 14% higher than it was this time last year. Read the rest of this entry »

As to be expected given the time of year, the market activity has slowed significantly in this two week period. Read the rest of this entry »

From November 1 – November 15, 2009, we’ve had four new listings and six sold* properties.  We’ve also had 11 price reductions during this time frame which is indicative of the many sellers adjusting their prices in an attempt to capitalize on activity and sales during the remaining few weeks of the fall market. Read the rest of this entry »

Pricing your home for sale has never been more important. In Wellesley, inventory (homes currently for sale) is significantly up over 2008.  Buyers have more homes to choose from and can therefore be choosier! How do you make sure that your home is the chosen one?

When pricing your home, it is important to consult with a reputable local Realtor who knows the competition (ideally s/he has SEEN all the competition that is for sale and has recently sold). Then, together you can determine the best price.

This is hard:  be objective about price.  Read the rest of this entry »

Needham Town Hall, Photo courtesy of Paul Keleher

Needham MA is a beautiful town with something for everyone. Read the rest of this entry »

Home sales are down for real estate priced at over $1 million due to the fact that jumbo loans are more difficult and more expensive to get these days.  Read the rest of this entry »