The following are excerpts from the Massachusetts Association of Realtors Study:

The median income of buyers was up to $94,800 compared to $88,100 in 2007 and higher than the $73,100 national median income. Fifty-nine percent of home buyers were married couples, 15 percent single females, 14 percent single males, and 12 percent unmarried couples. Thirteen percent of home buyers reported they were born outside of the United States compared to nine percent nationally.

The median age of the first-time home buyer was 30, which was down from 31 years of age in 2008. Sixty-one percent of first-time home buyers were between 25 and 34 years old, while 18 percent were 35-44 years. Only seven percent were 18-24 year years. First-time home buyers had a median income of $84,600 compared to $61,600 among first-time home buyers nationally.

Despite stricter lending requirements in 2009, 90 percent of buyers still financed their home purchase (94 percent of first-time buyers compared to 84 percent of repeat buyers). Savings was the chief source of the downpayment for 76 percent of first-time buyers with 48 percent of repeat buyers using proceeds from the sale of their primary residence.

While the number of foreclosed homes in 2009 went down compared to 2008, the number of buyers who bought a home went up. According to the study, 10 percent of buyers bought a foreclosed home, which is up 7 percent from 2008, but the same as the national average.

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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