Boston sellers cut prices
Follows end to buyer’s tax break
bostonherald.com
There’s a silver lining for would-be home buyers who missed the April 30 deadline for the $8,000 federal tax credit: Sellers are dropping prices.
The average price reduction for a single-family home or condominium in the Bay State last month was 8 percent, or $38,883 off the original asking price, according to real estate search engine Trulia.com.
In Suffolk County, which includes the cities of Boston, Chelsea, Revere and Winthrop, the price reduction was $43,288, or 7 percent off the listing price.
“Sellers are realizing there’s no artificial stimulus to help the market, so they’re lowering prices,” said Rick Healey, broker-owner at Foster-Healey Real Estate in Fitchburg. “The demise of the tax credit has brought a sense of reality to pricing.”
Bill Wendel, owner of the Real Estate Cafe, a buyer’s broker in Cambridge, said he has seen more buyers emerge in the wake of the tax credit’s demise. |
