Housing Prices Rise After Months Of Stabilization
BOSTON (CBS) - Danielle and John Kasperzyk are ready to find their dream home. "We're looking for some place to stay for the next 30-50 years and make it our own," Danielle says.
Now finally the market may be granting their wish. With the uptick in home prices, they feel ready to put their two bedroom Waltham condo on the market. John says, "Before I was nervous about putting it on the market; now I am more confident."
John bought it five years ago at the height of the market, and renovated the kitchen and bathroom. Finally he feels he can get his investment back. "It's a huge relief because I was worried we'd be upside down, and so if we put it on the market and were upside down, we would have to owe money at the closing, so it's a big relief."
Realtors say after months of stabilization, they are starting to see home prices rise. Former President of the Massachusetts Association of Realtors Gary Rogers says there is a lot of pent up demand, explaining, "There isn't quite enough inventory yet. And because of it we're seeing well priced homes and condos selling in a week to two weeks, which is a lot shorter than it has been."
With prices up and interest rates still low, the Kasperzyk's are hoping more families will feel the time is right to sell. John says, "We're hoping inventory will catch up and we'll have a lot to choose from and find the home we'll both fall in love with."
A spokesperson for the Mass Association of Realtors says while the indicators are promising, we are still on the road to recovery, and it will be several months before we know where we truly stand.
