There are many reasons to be confident that this market will fare better than most due primarily to Boston's real estate owner occupancy rate currently hovering at ±75%! Fortunately, to date there have been absolutely no increase in foreclosure rates and Sub-prime is really not a factor in Downtown Boston's Real Estate Market! Today's real estate market is also protect from unregulated real estate transactions with stringent guidelines implemented by  the Fannie Mae and FreddieMac.com  Foundations not present in the late 80's mortgage market. It is quite evident based solely on the most recent Sales Data that Downtown Boston's property values dropped ±5-10% over the course of the past two years...the higher the price the higher the hit (statistics compiled from www.LINK-online.com). However, in this market where jobs have not been effected in any significance, buyers' motivation will most likely continue to fuel a strong real estate market reflecting signs of significant pent-up demand for well-priced properties in all neighborhoods. Rest assured that people will always need to buy and sell homes...there will simply be fewer transactions which will continue to "thin the herd." Therefore, the historical significance of the fall and spring cyclical selling seasons has proven to be much more beneficial today; so timing will be of the utmost importance for both sellers and buyers!

In addition, unlike the stock market, "real estate is local" and this market is still one of the most solvent in the nation! With all things considered, Boston's real estate market has fared much better than most and is surely on its way to becoming the next international city on the east coast. It should not be surprising that the National Association of Realtors (NAR) continues to note that Boston is now one of the top three most expensive urban markets in the nation, and that Massachusetts is one of the most expensive states in which to purchase real estate. In addition, Boston is truly a twenty-first century city with a strong and diverse economy to support itself including one of the top five or six international financial communities and it's world renowned academic and medical facilities. Corporations from all over the world have been relocating their employees throughout the downtown area for the past decade. Recently, Boston has undoubtedly benefited from the Central Artery Project (commonly known as The Big Dig) adding to the city's infrastructure and enhancing it's accessibility and beauty ±75% federally subsidized.

We may not continue to see ±10-15% property value increases per year, but keep in mind that Boston is a very small city with limited inventory protected by an extremely well entrenched historical society and is one of the most popular urban markets in the nation. In addition, most economists are predicting that New England will faire better than most, and so far Boston has done just that! With real estate transactions representing over ±30% of the Gross Domestic Product (GDP) for the past 5 out of 6 years, it is quite obvious that this economy rests heavily upon the countries willingness and ability to maintaining this market. Conversely, the debacle of the late 1980s was unfortunately fueled by speculation with Boston's occupancy rate at an all time low of ±60/40 heavily laden with "investors" versus "homeowners"!

In addition, mortgage lenders in the 1980's were allowed to offer these same investors little or no cash down financing, appraisals were not required and the validity of the Purchase and Sales Agreements were not verified. Many transactions went unregulated with falsified documents and inflated cash down payments. When the real estate market crashed in 1988, these same investors bailed out of the market, allowing their units to be foreclosed upon by numerous lien holders. In the condominium market, this surely had a major impact on the City of Boston's real estate values. Unfortunately, these foreclosure numbers became the most recent "comparable sales figures", leaving the homeowners in a very precarious situation with devalued properties. The first thing to be sacrificed in a downward spiraling economy is speculative real estate investments. Again, the laws of supply and demand could not be more clearly outlined. Ask any financial advisor, tax accountant or lending institution, the last thing people walk away from is their primary home mortgage!

Fortunately, today's real estate market is protected from unregulated real estate transactions. In an effort to strengthen the mortgage industry in the early 1990's, new legislation implemented by the Federal Government's FannieMae.com and FreddieMac.com  Foundations imposed stringent guidelines and safety nets not present in the previous decade. First of all, "Conventional Lenders" are now required to differentiate between "homeowners" and "investors" with a higher interest rate and cash down payment requirements for investors…high owner occupancy is now regarded as a valuable asset. In addition lenders are also required to secure independent appraisals, verify the accuracy of the Purchase and Sales Agreement document and obtain much more detailed credit reports and employment verifications. With these new guidelines in place, the current real estate market is much stronger today than in the past decade due to a solid mortgage market. With that said, along with most accountants, financial advisors and analysts, I too believe that the safest place for anyone's money right now is still in their primary residence and/or other real estate investments.

Although some may think this is a buyer's market, I have been in the business long enough to know that depending upon how well a property is priced, the competition will either help sell your property; or your property will help sell the competition! Therefore, in this market I respectfully suggest that if you are considering selling, that your property be clearly priced competitively in an effort to avoid the real prospect of your property being labeled "over-priced" or "tired inventory"...then listen very carefully to what the market has to say and respond accordingly based on your time frame and preferences! If you will also need to purchase a replacement home, remember that real estate prices are relative provided you negotiate a financially lateral transaction. The opposite applies to your new purchase...there could be no better time than the present to find a real deal with a seriously motivated seller who's property has been lingering on the market over the winter market!

The historical significance of the spring and fall markets will be very important over the course of the next few years. I respectfully suggest that if you are considering selling your home...launching your property on the market only in the spring or fall markets will prove to be an extremely valuable asset! Even though market conditions are a little different today than they have been in the recent past, prices are ultimately dictated simply by how much the market will bare! Therefore, how aggressive you choose to price your home should be based primarily on your time frame. While other agents may be debating the current market conditions, I will remain focused on creating strategies and positioning your property to attract and identify the buyer who will pay the highest possible price which is the single most important thing I can do as your Realtor®! Please review marketing, pricing and negotiating strategies along with my comprehensive 21st Century Marketing Strategy.

Closing ±200 properties totaling ±$175 million dollars in the last 12 years has shown me that there is a delicate balance between price and excitement! This market is so incredibly sensitive to price, I believe that when a property is introduced to the market it should be priced appropriately as buyers rarely make offers on properties they think are over-priced. Most importantly, with today's technology prospective buyers are well aware if a property is lingering on the market. Allowing your property to sit on the market for too long will inevitably costs you time, added stress, and most of all money. Many times agents will intentionally over-price your home in an effort to 'buy your listing.' This is, without question, not in your best interest! An over priced property listing is a liability as statistics prove time and again that the best price is usually secured within the first few weeks of exposure to the general public. Again, if a seller ignores the feedback (or if a real estate agent does not discuss these issues), many times the risk of the property being labeled "tired inventory" is inevitable! If this occurs, the position of strength is lost, many times resulting in chasing the market with extremely disappointing results!

Is this a buyer's market? I have been in this business long enough to know that it always depends upon whether or not the property in question is priced attractively or not! If a property is clearly priced competitively, that property will still most likely sell at or near the listed price and within the 1st 15-30 days! However, if there ever was a time to find a "deal" there could be no better time than the present if you can identify a property that is listed for sale by a seriously motivated seller. I highly recommend that you focus on new inventory that has been priced attractively and/or properties that have been appropriately reduced!

In addition, capturing the current interest rates is the balancing act that only you can answer? However, I believe that now is a truly a great time to BUY because the current mortgage rates are still at all time historic lows: (see the average mortgage rates compiled from FreddieMac.com)! If mortgage rates rise over the next few months your borrowing power may be diminished. An experienced buyer's agent can represent your best interests; navigating to avoid many of the possible pitfalls that you may experience in your pursuit to purchase real estate. With 12 years in downtown Boston's real estate market, I provide experience, expertise, and a willingness to do what it takes to deliver in difficult circumstances! Please review my Home Buyers On-line Seminar. If you will also need to sell your current home, remember that real estate prices are relative provided you negotiate a financially lateral transaction!

"No one in the world sells more real estate than RE/MAX®!" With more than 125,000 Sales Associates in more than 6,500 offices worldwide, RE/MAX is the world's largest Real Estate Company! I have been representing sellers and buyers since 1995 specializing in Downtown Boston's Historic Neighborhoods with the proven experience of closing ±300 properties totaling over a quarter of a billion dollars! Over the past several years more than ±95% of my business has been from existing clients and the referrals of their friends, relatives, neighbors and business associates. This allows me to focus 100% of my energies on your property and not spend my time looking for new business. I am also a Realtor®" and have been a member of The National Association of Realtors NAR, The Massachusetts Association of Realtors MAR and The Greater Boston Real Estate Board GBREB since 1995!

The most significant benefit that I offer as a RE/MAX agent is the lack of Dual Agency Disclosure which is very much an issue you should be aware of in this market. With RE/MAX "each office is independently owned and operated" as franchises throughout Boston's historic neighborhoods affording me the ability to truly represent your best interests in almost all instances. In my humble opinion, Dual Agency is without a doubt an irreconcilable conflict of interest for the vast majority of sellers and buyers!

I am also proud to say that with every property I sell, a donation is made to the Children's Miracle Network and Susan G. Komen Breast Cancer Foundation through RE/MAX International. If you are considering selling and/or buying property now or in the future, please feel free to call my cell phone at (617) 283-5044 or email Rich@RichHaen.com to discuss your particular concerns and/or schedule a private consultation. I look forward to the opportunity to earn your trust and your subsequent business.

Children's Miracle Network and RE/MAX are joined by their desire to provide local community hospitals with modern tools and information. Since RE/MAX became the exclusive real estate sponsor of Children's Miracle Network in 1992, RE/MAX Associates have raised nearly $75 million for the cause. Founded in 1983, Children's Miracle Network generates health care funds and awareness programs to benefit children. The nonprofit organization's 170 participating hospitals across North America help 17 million children annually... read more »

With its "RE/MAX Racing for Life®" slogan, RE/MAX is proud to be a co-sponsor of the National Series Breast Cancer Survivor Recognition Program at Komen Race for the Cure events. Together with its affiliate network, corporate partners and various donors, Susan G. Komen for the Cure has invested more than $630 million in research, education, screening and treatment since 1982. The foundation is best known for its Race for the Cure events, the world's largest series of 5K runs and fitness walks. Komen estimates that more than 1 million people participated in its 2006 races... read more »