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FLASHBACK: Breaking News (May 2017): Median Prices hit All-Time High in Mass, with 9% surge in Single-family Prices

http://bit.ly/WreckordREHype

Update April 2019: Nationally, existing home sales were down 4.4% in April, the 14 month in a row -- longest stretch since Great Recession. Closer to home, condo PRICES down 5.8% YOY in Greater Boston, more than Seattle -3.5%, MountainView, CA -2.2%.

What should prudent homebuyers make of that and this spin in the Boston Globe recent coverage?

The “median condo sale price has now declined on a year-over-year basis for three consecutive months,” Norton said. “I don’t view this trend as a softening in the market, but rather a return to normalcy.”

http://bit.ly/FullRESpin_Apr2019

Two years ago, we asked "Are rising prices real or sustainable in Massachusetts?" Last week, that National Association of Realtors talked about the importance of social validation from friends in housing decisions, but made no mention of shocking stat -- 70% rate of buyers remorse among Millennials.

http://bit.ly/SocialREmorseNAR

DISCUSSION QUESTIONS:

  1. Has social media helped create a self-perpetuating speculative cycle that's disempowered homebuyers?

  2. What role are #FakeBuyerAgents playing now and in the past?

  3. Why have #BiddingWars been "normalized" over the past 5 years, what's happening now?

  4. If 1 in 3 real estate agents has less than 2 years experience, can they recognize a #RETippingPoint or negotiate potential savings?

  5. How can prudent homebuyers make informed decision, and protect themselves from overpaying?

SCHEDULING:

We'd like to engage these questions online and off through the weekend.
If you'd like to meet in-person, text #RECoverUp to 617-661-4046 Bill Wendel at 617-661-4046 and we can explore options. Alternatively, use the comment thread below to propose a time & place works for you; and if appropriate, we'll cross-post a link so others can cast votes on multiple options.

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