Every week, we ask a Boston real estate professional for their thoughts on the top three stories from the week before. This week, we spoke with Lizete Alcalai, a Realtor with Keller Williams Realty.
Boston Agent (BA): Are Millennials buying in Boston? What’s the market like for young buyers?
Lizete Alcalai (LA): The Millennials I have worked with the past two years cannot afford to buy in Boston. Student loans, lack of credit or even lack of a steady job prevent them from aggressively looking into Boston. I find them looking in surrounding and more affordable areas or parents of Millennials buying multi or condos that they will eventually use as investment properties.
BA: With over two decades of experience in Boston real estate, how has the market changed over your career, and where do you think it’s going?
LA: Real estate is known for peaks and valleys, and I have been through both. When the market took a dive in the 1990s, I decided to detour my career towards managing real estate. I stayed in the field while getting in depth knowledge of what entails maintaining properties (particularly investment properties starting with 40 units up to 300).
BA: How important is neighborhood-specific knowledge in the Boston market?
LA: I believe that knowledge of the neighborhood is imperative to properly represent a seller or buyer. Virtual tours cannot be compared to being present and personally walking and teaching about the areas one is willing to market.
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