John Fountain Realtor/Broker/Auctioneer Salem & All North Shore Ma mass.

Some areas seem to have bottomed out. Investors are now buying again, but they seem to be bottom feeding, however this is taking the lower price inventory and causing a reaction with first time home buyers, reducing inventory and driving prices up. However, the medium price homes seem to be stagnent and slow moving as the medium price buyer has no incentive, such as a tax break to help along sales. It is a good time to buy if you can have the Buyer believe it. Mortgages are still at a fantastic rate and inventory is high, with many motivated Sellers willing to deal. High price homes are a great deal if you are in that side of the market. People need out and will make the deal,as they know when the move and buy,the shoe will be on the other foot, and they in turn will be able to buy right. contact me for more info on the market here in the North Shore Ma.

Thinking of relocating back to Mass, Well You are not alone. The trend now is returning to the home State, Florida used to have 10.000 plus people moving into the State a week, Now that trend has reversed, twice as many people are leaving than are arriving, Where are the going---the answer is back home or at least to the area they know, WHY--Because they can buy more house for the money, for example when they sold up to 4 years ago they sold for top dollar, now when they come back they can find deals with up to 50% of the sale price from the time they left, this of course equals a gain. Also there is no capital gains Tax to worry about as you only have to live in the home you own for 2 out of 5 years to take advantage of this tax break. Also another big reason Baby Boomers are returning is lifestyle, they are on average more healthy, more robust, and want a more active lifestyle,

What do you think?

I know ---as I am one of the later boomers and found I can have the best lifestyle by returning north, and a major plus is I get to see family.