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Welcome to your constantly updated resource for news and views on the Brookline Real Estate market. Here you will find commentary and statistics to explain the daily changes in the Brookline specific housing market.

Whether you're looking for an estate in Cottage Farm, a condo in Brookline Village or are just stopping by please feel free to read along and comment at will. If you are interested in speaking about renting an apartment, buyer representation or listing your home please feel free to contact me.

Thursday, November 01, 2007

Lost in the Shuffle

With all of the numbers swirling around I want to draw everybody's attention to the opportunities for tremendous success in the current market conditions.

Let's pretend for a second that the "market" is "down" 10%.

You own a condo in Coolidge Corner that you paid $500,000 for. The 10% hypothetical change in the market brings the value of the condo to $450,000.

Now, you and your family are in need of more space and a yard for your dog. You decide to look for a single family home. The average price for single family homes when you bought your condo was $1,000,000. Now, with the 10% "adjustment" that home is $900,000.

Suddenly, that "loss" of $50,000 on your condo has turned into a gain of $100,000 on your home, leaving you with a net gain of $50,000. The interest rates are stable since you bought, so the monthly payment structure hasn't changed much. This means you are able to buy more house, or do more with the house you buy with this adjustment.

Whether you're "trading up" or moving in from a distant suburb, this is a tremendous market to move in. Almost every seller is also a buyer and therefore the market will continue to turn over.


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The views expressed on these pages are the opinion of the author and any public contributors. They do not substitute for the advice of a legal or financial professional. These opinions are not representative of any firm or business. Please always consult an attorney, financial professional or sign a contract with a Buyer Agent or Seller's Agent for specific advice.