I've been wanting to buy a house in Acton for a long time. I'm tired of waiting...
Prices have come down, interest rates have come down. But what if I buy a house and the prices continue to go down? And more likely, what happens if interest rates go up?
For every 1% increase in the interest rate you pay, your buying power decreases by 10%!! In real numbers, if interest rates increase from 4.5% to 5.5%, instead of that $525,000 house you want and can afford to buy, (but are waiting and hoping to get for $495,000) you'll now be able to purchase a home for $472,500.
Average sold home prices in Acton, MA have decreased from a high in 2005 of $633,000 to $571,000 in 2010. That's a 10% decrease over the past 5-6 years. Now I know that's an average, and there are all sorts of factors that go into those numbers, but the fact remains, real estate in Acton is a good investment. The taxes you pay are cheaper than sending your kids to private schools. We are very lucky in our area, because the excellent schools, the proximity to major employment areas, (Boston, Rt 128 corridor, Worcester) and the safe and pleasant community that Acton is, keep buyers interested and homes selling for market value.
It's time to make the decision to buy a house. Get settled. Make it your home! Love your town, get involved. Watch the kids grow up. It's a great place to call home- what are you waiting for? Call me. I'd love to help!
Betsy Purcell, Keller Williams Realty, 978-758-7414 betsypurcell@kw.com
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