Investors are buying up the Worcester Condo Market

Monday, August 08

Most of the market in Worcester is moderating but the condo market has a mind of its own. I have been working with Condo investors who were simply looking to park money and try to get some appreciation We offered full price with no inspections on 6 condos to get 1. There are very few condos in Wo...


FLOOD INSURANCE and FEMA

Monday, July 25

FEMA is rewriting the flood maps. They are trying to make them more accurate. This will translate into higher rates for a lot of people. For those getting a loan on their property, they will typically be required to maintain this insurance.  For those without loans, they are able to go without, o...


Rent Prices in Worcester up 50% in the last year- Agents say

Monday, July 25

Very interesting article here about rents in Worcester. https://drive.google.com/file/... There are definitely people who have had their rents go up by 50% in Worcester in the last year. Say your rent was $1000 for a 3 BR unit with parking.  The jump to $1500 doesn't even get you to market rent f...


People are backing out of House contracts!! Watch out

Monday, July 25

Interesting stats here from Redfin.I think Redfin and Zillow do a great job at statistics and with their websites, but I wouldn't recommend using their agents.60,000 home purchase deals fell through in June!!!!! that is almost 15% of all homes that were under contract.WOW WOW WOWIt appears that t...


Small Business Rent- used car bubble and Auto Repossessions

Monday, July 25

I was reading an article last week about small businesses.   Scary statistic here: 33% of all US small businesses could not pay May rent in full and on time, up from 28% in April. Does that get you scared?  I was told by Janet Yellen that we did not have signs of a recession. What are the signs o...


Demand is going down as buyers leave the market

Wednesday, July 06

Quick article here from CNBChttps://www.cnbc.com/2022/07/0...Basically Mtg rates are falling, but that is not keeping buyers in the market.It is an odd market right now.6 months ago I used to go to an open house on a Saturday and it was mobbed, today I am the only person there.Sellers used to get...