Buyer agent-eye view, October 2007

This is what members of the Massachusetts Association of Buyer’s Agents report on the Greater Boston market, October, 2007.

There are two different markets out there:

Within the I-95 belt, and a little ways out of it, there is still competition among buyers for the nicer properties. Away from greater Boston, there seems to be an oversupply of homes for sale.

In all areas, agents are seeing both buyers and sellers who prefer to not make an agreement instead of making a compromise. There are buyers willing to buy, and there are sellers willing to sell, but there are a lot of people testing the market.

What is the advice to buyers, as winter approaches?
A. In areas where there are many homes for sale: make offers; if the seller won’t negotiate, move on.
B. In areas where there are limited numbers of properties in your search criteria, choose carefully. Remain willing to wait for a good place and a fair price.
C. Winter is typically a good time to get a lower price on a home. Shopping the “leftovers” is like going to the “after-Christmas” sales; your selection is more limited, but the prices are generally better.
D. If this is the time in your life to buy, do so. Buy the best place you can get, then stay put.

The advice you get is as good as the individual agent you choose. So, choose an agent who avoids conflicts of interest and has experience with buyers. Get references. Buying a home is the biggest single investment in most people's lives; be prepared.