Michael Licchi

On September 1st, The National Association of Realtors announced that pending homes sales rose for the six straight month. Similarly, existing home sales (townhomes, single family, condos, and co-ops) rose for the fourth straight month. Whether the money is there or not, obviously people want to buy! In most areas, this is probably due to falling home prices and the Federal Housing stimulus tax credit rather than an increase in household income and employment(as if!)...but that doesn't mean the well will soon run dry in all regions of the U.S.

In Suffolk County, MA, if you bought a home nine years ago you are still up $57,300(on avg.) compared with $6,800 nationally. The rate of job loss is decelerating as well. -0.5% job growth the last three years compared with -0.9% nationally. Massachusetts, as a whole' still has the highest per capita income in the country and an historical avg. of 21.7% monthly mortgage payment to income compared to 23.2% nationally. Oh, and in this past quarter of 2009, that ratio for Suffolk County, MA was 15.0%! This would explain why Suffolk County, MA has a a sub prime mortgage share of 9.6%, one of the lowest in the US, compared with 12.5% nationally. This means that if you live in Suffolk County, MA, you are more likely to have neighbors who are financially sound and probably won't be foreclosed on and those factors have a tremendous effect on the value of your home and the economic situation of the neighborhood.

The Federal Reserve Board recently extended a plan to buy back more than 1.4 trillion in distressed mortgage backed securities until the end of the 1st quarter of 2010. This transparently says that they feel the banking system is recoveringand it is not immediately necessary to buy all of these assets now. Furthermore, extending the plan will keep interest rates lower for a longer period of time which in turn will help stave off inflation.

Need yet another reason to buy now? Still think the bottom is coming? Consider this; all the data for the Commercial real estate market in Suffolk County, MA points to the formation of a bottom. Historically, the commercial real estate market lags behind the residential market. If we are seeing a bottom forming in commercial real estate, then we are probably already bouncing off our bottom on the residential side and the data in the first paragraph of this blog supports that assumption.

BUY, BUY, BUY.....bye

Suffolk County, MA real estate is prime real estate - plain and simple. I read and hear much about how tough things are right now for everyone inside and outside the real estate industry. Job loss continues to climb, more and more parts of the country are becoming depressed areas, it's tougher than ever to get banks to lend money and the disparity between Walll Street and Main Street continues to increase. Whether you are looking for a home, a change of lifestyle, or starting a retail business, Suffolk County,MA real estate offers maximum value.

Suffolk County, MA has four distinct seasons, one of the highest per capita income levels in the country, easy access to mountains for hiking, skiing, and camping, as well as easy access to the ocean, and many river valleys for kayaking, picnicing, and exploring. All of this is a short drive or walk from Boston.

Suffolk County,MA offers a wonderful quality of life, a low crime rate, endless educational opportunities, and many job opportunities in fields that have not been smacked around the way other industries in other parts of the country have been. The region is big on technology, biotechnology, healthcare, and academics - all of which are feilds that have remained relevant and continue to grow. Suffolk County, MA does not make cars, have much heavy industry, or a tremendous amount of financial services. I wouldn't bet on any Universities or Hospitals closing soon and these institutions employ thousands each. I know, I've worked for some of them before and the benefits and quality of life are spectacular, especially if you have small children.

Suffolk County, MA has one of the largest student populations in the country. College students account for a great deal of the retail spending in the area and local businesses benefit tremendously from their consumerism. Many industries in Suffolk County, MA are built around servicing student needs.

Suffolk County, MA also has a number of professional sports teams that have seen tremendous success over the last several years and this success further benefits local business owners, especially bar and restaurant owners.

If your looking to move to Suffolk County, MA, start a business, go back to school, or upgrade from your current residence in Suffolk County, MA, I belive you'll be pleasantly surprised by all the area has to offe