No Holiday Clearance Aisle for Boston CondosDecember 22, 2012
December is a month for holiday cheer, shopping, wrapping presents, sending greeting cards, party hopping and having fun. Most people don’t think about buying and selling Boston real estate, so historically it hasn’t been a busy month for transactions. However, given the holiday season, both buyers and sellers are more relaxed and jovial when negotiating for property.
Don’t Expect Holiday Cheer in Boston Real Estate Negotiations
Sellers may be more amenable to flexibility in December, simply because the mood is more festive. That is NOT the case this year. With the shortage of inventory in the marketplace, Boston condo sellers are in no mood to negotiate at all. In fact their thought process is that if they don’t sell, they will have the opportunity to raise their price in early 2013.
I’ve recently seen multiple offers on most properties that come on the market. Buyers need to change their way of thinking if they are hoping to get a bargain this month — it is simply not happening this year. Unfortunately, Boston condo buyers have to step up to the plate quickly or be prepared to pay more for the same property a few months down the road. I wish we all had a crystal ball…
Many buyers are avoiding the Boston real estate market frenzy altogether. We all love to get a “deal”, but unfortunately, the low inventory trend in the gives sellers a slight advantage. Buyers may have to pay a little more than originally expected, but the long-term benefits generally outweigh the extra investment up front.
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