Real Estate Broker Serving Belmont, Watertown, Arlington, Newton, Waltham & Surrounding Towns.

 

FEDERAL TAX CUTS EXTENDED THRU 2012

In order to continue stimulating the economy, Congress extended the Bush Tax cuts for all Americans for an additional 2 years thru 2012.  Highlights of the program are lower income tax rates and higher thresholds for the estate tax.

 

LOWER CAPITAL GAINS ON SALE OF REAL ESTATE EXTENDED

15% Federal Capital Gains Tax on the sale of investment real estate was extended thru 2012 by Congress.  This offers a significant tax savings at reduced rate.

 

HOME SALES SHOULD REMAIN STRONG & WITH LESS TIME FLUCTUATIONS

The 1st time Buyer Tax Credit which expired on June 30, 2010 caused an inordinate number of sales to transact during the 1st half of 2010. From July 1 thru the end of the year, the market was noticeably slower. But at the end of the year the sales statistics were up only slightly over 2009 and right in the range of the ten year norm. 2011 Sales should be more consistent with only moderate seasonal adjustments.

 

LOW INTEREST RATES

Current interest rates are close to 60 year lows.  The Federal Reserve Bank sees lower rates as one of its major weapons in jump starting the economy.  Housing is one of key sectors that has always led the economy out of recessions.

 

HOUSING AFFORDABILITY

Lower prices combined with low interest rates make it more affordable to buy a home.  Housing has not been this affordable in the last 40 years.

 

LOW DOWN PAYMENTS

Bad lending practice have been eliminated but Down Payments as low as 3.5% are still available to well qualified buyers.

 

EXCELLENT PUBLIC SCHOOLS

Watertown Public Schools continue to provide our youth with an outstanding education.  We enjoy an excellent reputation both regionally and nationally.  Families come to and stay within our community for our schools.

 

TIMING THE MARKET

Recent statistics show that prices of single families are near or at the bottom having increased last year and may actually increase slightly again this coming year.  Condos & Multi Family homes are a little more uncertain and may decrease slightly further in the next year or so.  If your personal situation is stable, you find a house you like and you intend to be there for at least 3 years the odds are in your favor that the home you buy will be worth more in 3 years than it is now and if history is repeated considerably more in 5-10 years.

 

OUR MARKET PLACE

Our market place of Watertown and immediate surrounding community is blessed by the fact that we are short, almost equal distance, from downtown Boston and Route 128/95 “America’s Technology Highway”.  We are serviced by excellent public transportation and have easy access to the major highways, Routes 2, 128, 95 & Mass Pike.  Boston, Cambridge and Route 128/95 belt with all the biotech & pharmaceutical companies, educational institutions, financial institutions, hi-tech firms and other companies, are a very short & easy commute from Watertown.  Our area consistently maintains a stable job market.

 

MARKET PLACE GROWTH & EXPANSION

Our Watertown & surrounding communities primary market place has almost no room for new development.  There are virtually no large tracts of land left for major development and expansion of our housing base.  Any new development is knock downs or urban renewal of existing areas. With zoning becoming more and more restrictive, it makes it very difficult to accommodate demand in periods of job expansion in our area.  This is what causes our frequent housing price booms and protects us from dramatic downturns in real estate experienced in other areas of the state and country.  It is a good problem that cannot be corrected.That is why buying homes in our area is a great long term investment.