The Real Estate Market in 2024: What to Expect
Don’t let the snow and cold temperatures fool you, the real estate market will start picking up speed in just a few weeks. Some things have changed in the housing market, and some have not. But any change at all can make buyers and sellers nervous.
Real estate transactions move quickly these days, with less time to make decisions, a distaste for dealing with any contingencies, and mortgage applications done online with minimal human contact.
According to Zillow, “The median house price in MA is just under $586,000, up over 7% in the past year, and selling in 14 days. Roughly 54% sell above list price, 35% under list price.”
Prices are still increasing, and interest rates are slowly dropping. Long-term homeowners don’t want to give up their equity to buy a new home that’s more expensive and half the size. Buyers need a larger deposit to get a mortgage without paying PMI (private mortgage insurance). Things have gotten complicated for everyone.
Now more than ever, you need an experienced Massachusetts real estate attorney to help you navigate these constant changes, and protect your investment.
Attorneys Jim and Steve Brady & Associates, PC in Walpole MA know that buyers and sellers can be riding an emotional roller coaster. We make sure you make choices in your own best interest.
Here’s a list of things we do for clients while handling their real estate transactions:
Disputes. We will ensure that your best interests will be protected should there be any disputes over the purchased/sold property.
Home Inspections. In the past few years, many buyers have opted out of a home inspection. Now that the market has slowed, this isn’t the case. If you choose to have an inspection on your potential property, which we strongly recommend, we can prepare any repair agreements.
Use and Occupancy. You may need to stay in your sold property for a month or two after you sell. Maybe you’re waiting for a new home to be finished, or you’re changing locations and need some extra time to move. We will negotiate this for you.
Contingencies. In some cases, specific conditions that must be met are listed in the contract. These include home sale, appraisal, financing, inspection, and title. If the listed contingencies of the contract are not met, the buyer or seller can back out of the sale.
Deed Transfer. You will have to transfer the new title from yourself to the new buyer. It needs to be done right. We do the necessary research, address any issues that come up, and make sure all the details are correct.
Mortgage Payoffs. We work with the seller’s attorney to order and confirm any mortgage payoffs required.
Power of Attorney. Should you be unavailable to be present at the closing, we can represent you as your power of attorney and sign all necessary documents for you.
The Unexpected. One out of four home sales is delayed because of unexpected problems. If you hit any obstacles, we can address them for you.
Buying or selling a home can be the largest financial decision you make, so you want an experienced real estate attorney who has successfully handled many real estate transactions and has your best interests in mind.
Call Attorneys Jim and Steve Brady & Associates, PC today to schedule your consultation at 508-660-8888.