Monthly Archives: February 2007

MIT Professor: Housing prices could decline another 20%

Savings of $100,000 or more on individual home purchases were relatively common across the top 25 most expensive housing markets in Greater Boston in 2006, and according to one MIT professor, savings are likely to continue in 2007.  Professor William C. Wheaton predicts housing prices could decline another 20 percent in Greater Boston and other markets over the next two to three years.  Does that mean that homebuyers in the most expensive communities will see even more price reductions in each of these categories in 2007?

PARTIAL MAP of homes selling for more than $100,000 below their original asking price: (see technical note below)

As sales prices fall, well-informed sellers are could set more realistic prices so the gaps between the original asking price and final sales prices may not be as wide as those recorded in 2006.  We’ll continue to map the location of six figure savings, and invite you to do the same on The Real Estate Cafe’s award-winning interactive bubble map.  We’re so convinced that our clients will save money, we’re willing to base part of our compensation on it.  Contact us at 617-661-4046 or RECafe [at] Mac [dot] com for information on our experimental NEW fees and rebates options.

Posted in Bubble map, Housing forecasts, In the News, Mapping, Price trends, Real Estate Bubble, Savings & Rebates

December sales below assessed value added to Real Estate Bubble Map

Looking for comps to substantiate a low-ball offer on a property in Greater Boston?  The Real Estate Cafe just added another 127 sales below assessed value, recorded in December 2006 across 25 of the most expensive
cities and towns in Greater Boston, to it’s award-winning real estate bubble map.   
We also posted a link to past housing price corrections to a national news site, which is looking for contributions from readers, presumably real estate professionals and consumers alike.  Your comments are welcome there, or below.

Posted in Bubble map, Market trends, Million Dollar March, Price trends, Real Estate Bubble

Self-service expo?

http://www.kioskcom.com/

Posted in Do-it-yourself

Another bubble map?

http://www.inman.com/blogger/2007/01/double-bubble-trouble-real-estate-data.aspx

Posted in Uncategorized
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