Major Bargains for Franklin, MA Buyers This Spring

Bargain prices on housing combined with low interest rates below 5 percent may bring the Franklin, MA real estate market its busiest spring season in years, economists say.

Some Franklin, MA area builders are ramping up discounts on new homes and sellers of existing-homes also are getting more competitive in pricing their homes.  At the Villages at Oak Hill, an active adult community in Franklin, builder Joe Paolini is currently offering buyers a spring promotion which locks in the condo fee at $295 for two years as compared to the current $375 fee.

"After three years of the housing downturn, people are becoming much more realistic in terms of valuing their homes," says Lawrence Yun, chief economist at the National Association of REALTORS®.  An improved job market with better income potential may also motivate more people to buy, says David Berson of the PMI Group. "Household formations are also very important," Berson says. "Kids may have moved back in with their parents, or two people may have moved in together, because of job concerns. Now they can move into their own place."

While interest rates are sitting comfortably below 5 percent for now (30-year fixed rates averaged 4.76 percent last week), economists warn the attractive low rates won't last long. "Few think mortgage rates are going lower," says Mark Zandi, Moody's Analytics chief economist. "It's more likely they will be 6 percent than 4 percent next spring. This lights a fire under buyers."

Give me a call at 508-369-5131 or email me if you want to receive the latest listings that hit the market.  My testimonials say it all--I'll make sure you have all that you need for a smooth, home buying process...

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Kathy Stankard  of The Kelly & Colombo Group at RE/MAX Executive Realty can be reached by cell at 508-369-5131 or via email. 

Kathy has been a top producing REALTOR for the past 15 years helping buyers and sellers in the Franklin, MA and metrowest of Boston area.  Feel free to check out her website for more resources and information.

 

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