Today’s real estate stories of relevance:
Property taxes to rise 9.2% in city – by Andrea Estes, The Boston Globe. City property tax rates go up from $10.73 per $1,000 in assessed value to somewhere between $11.10 – $11.15 per $1,000 in assessed value. Presumably, the assessed value of your condo is going to go up, as well (they haven’t gone down, year-to-year in about 13 years).
Nowhere in there did you read about the city’s budget going down, or staying the same. Nope, it’s going up.
One good thing – the residential exemption is going up from $1,222 to $1,344.
The ABCs of selling a home or condo – by Nena Groskind, The Boston Herald. Very concise but complete description of what steps to take when you decide to sell your home.
Sellers chop asking prices as housing market slows – by Kimberly Blanton, The Boston Globe.
Moderately priced homes are feeling the brunt of the price squeeze, according to an analysis of MLS listing data by Cambridge broker Bill Wendel.
Statewide, 38,418 houses had priced reductions between Jan. 1 and Nov. 24, or 22 percent more than the number of reductions during the same period in 2004. But the number of price reductions on homes between $500,000 and $1 million increased by 36 percent. One price segment that ”jumps off the page as soft," said Wendel, is the $500,000 to $600,000 price range, the fourth most active segment of the single-family housing market. It had 1,258 more markdowns, up 40 percent from last year.
Reader emptor, is all I’m saying.