With all of the fluctuations in the economy lately, buying a Boston condo can be a confusing endeavor. A while back, the Federal Reserve raised the benchmark interest rate by a quarter of a percentage point. This interest rate increase may seem small, but it will undoubtedly affect the Downtown Boston real estate market in many ways.

Because of the decline in interested buyers, the increase in interest rates may not actually affect the overall price of a property. Less people will be interested in buying due to the higher cost, so many sellers may choose to lower the price of their condo for sale in Downtown Boston in order to attract potential buyers. Some real estate brokers are recommending that their clients wait a short time before buying, so that the real estate market can settle back down.

Though this interest rate increase was the most drastic jump in a decade, increases in the future will most likely be more gradual. Due to the economy, the Federal Reserve may increase interests rates again soon. These increases can add quite a bit of money to overall payments. Therefore, a fixed-rate mortgage may be a better choice for homebuyers. An adjustable rate mortgage may be initially lower than a fixed rate mortgage, but the current real estate market cycle makes it probable that interest rates will continue to rise.

If you’re interested in purchasing a Boston  Midtown condo before another rate increase, reach out to Ford Realty. We’re experts in local real estate market.

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Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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