Gary Dwyer's Real Estate Blog

The biggest complaint that I hear from clients these days is the limited number of homes on the market.  With cold temperatures, snow, and short days during January and February, the conditions are not ideal for many sellers to present their property in the best light.  These conditions also effect a buyers ability to evaluate a property (particularly single-family homes) because they can not get a good feel for the landscaping, neighborhood or even the amount of light a property gets.   

Sellers often times prefer to hold off until March or April before they put their property on the market, but I think this year is going to be a bit different.  With the first-time home buyer and current homeowner tax credits set to expire on April 30, I think that many sellers will begin to put their properties on the market a bit earlier this year.   

I believe that the Greater Boston market has already begun to thaw from its "Snow Daze" and that many sellers, particularly in the $200K - $600K budget range, will begin listing their properties in the early-March timeframe.  This will allow them capitalize on the number of buyers that will be looking to to take advantage of the tax credits.   

Because of this, properties that are priced appropriately for their condition, location, and amenities will be very much in demand and go under agreement very quickly.   I am already experiencing multiple offers and bidding wars for properties driven by several months of low inventory, low interest rates and the bonus tax credits.  Buyers need to be prepared for a faster-paced decision making environment.  

Buyers shouldn't loose site of the fact that although the tax credits are a nice "bonus", you want to make sure you are buying the right house for the right reason at the right price.  If it feels right in your heart and your head, you probably have a great fit.