IS THE BOSTON CONDO MARKET AFFECTED BY A PRESIDENTIAL ELECTION?

According to an economic study, elections cause a decline in the number of national home sales as well as a slight price decrease. The decline is greater in tighter elections where there is increased uncertainty.  Other market factors, such as growth per capita income play an influence.

WHY DO ELECTIONS AFFECT BOSTON CONDO PRICES?

How does a Presidential election affect your Boston condo value? One potential explanation according to a study states: “Election years can be stressful and uneasy for many Americans.” And people are less likely to make large purchases, such as a Boston condo for sale, in uncertain times. The results of the election can potentially affect our finances, so fewer people are willing to invest in a Boston condo purchase when their financial future appears to be uncertain or influenced by a president. I can see this, I’m not trying to be funny here, but in the upcoming 2020 election our choices might be between a wanna be Billionaire or a Socialist. Oh how I yearn for days of Reagan vs Mondale.

REALTY TODAY STUDY

Realtytoday.com conducted a survey during the 2008 election and found that “the election was really weighing on the minds of the would-be buyers.” Different presidents in their respective parties may have different housing and mortgage policies that may affect buyers in various ways (some Presidents may not even have a housing policy). These risks can be concerning to potential Boston downtown condo buyers, and as a result, may choose to wait and buy during a time that appears to be more “politically stable”. I encourage my Boston condo buyers not to wait for a “politically stable time” otherwise I might be out of business or dead (I’m closer to 60 than 40)

WHAT DOES THIS MEAN FOR BUYERS AND SELLERS TODAY?

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Although some Boston condo buyers may be skeptical of purchasing a home with an election year not far away, this could be a good time to buy a Boston condo for sale for anyone willing to take on additional uncertainty and risk. One positive, interest rate cuts may be on the horizon. (See the video below)

BOSTON CONDO SELLERS

Realtytoday.com states that it is generally harder to sell homes during election years; therefore, it may take longer to find a buyer, and the sales price may be slightly lower than anticipated. for sellers, it may be more beneficial to list your Boston condo in 2019 (NOW) before the 2020 election, if possible. Selling now could mean that the value of your home would be slightly higher, creating a larger return on your investment. If interested, call me and lets discuss the marketing of your Boston condo for sale

CONCLUSION

If I were a Boston condo Seller on the fence of whether to list my property now or in 2020, I would do it NOW

Perhaps Boston condo buyers and sellers should pay closer attention to the upcoming election if considering a real estate transaction. 

Oh, I almost forgot to tell you……… we might be going into a Recession. (see the video below) 

Have a great day.

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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