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How Century 21 Cahill Associates CEO David Cahill capitalizes on the summer selling season

by Boston Agent

David Cahill, managing broker and CEO of Century 21 Cahill Associates, assesses the current housing market in Boston and explains why summer is an ideal time for the city’s real estate agents. He also shares how his agents put themselves in the best position to serve clients seeking a home during this busy season.

Why is summer the best time for Boston homebuyers?

People generally have an easier time to look at homes when it’s summertime. School is out, the days are longer, the weather nicer and work tends to slow down a bit. House hunting can sometimes seem like a part-time job with all that is required.

What has caused such great demand among Boston homebuyers?

The lack of inventory is a common conversation in the industry. There are more buyers than sellers and homes stay on the market for less time. Coupled with historically low interest rates and rapidly rising rents, it just makes sense to own vs. renting.

What are Boston homebuyers looking for in today’s housing market?

More inventory and perhaps a correction in prices.

Are there certain challenges or opportunities that homebuyers should be aware of? How do you help them find the right home for their particular needs?

First-time homebuyers, especially those with low down payments, have it especially tough. In situations with multiple offers, people who are paying all cash or are waiving contingencies end up with the best shot at getting the home. I urge homebuyers who continue getting shut out to take a second look at homes that have been on the market for a couple of weeks or more and make offers on those since they would most likely the only ones currently bidding on them.

Which are the hottest Boston neighborhoods right now?

East Boston has been getting a lot of attention and traffic lately, and as a result the area is seeing the largest increase in prices. It used to be the cheapest!

How are current new development and investment trends affecting the real estate industry?

For years, there was a strong trend towards new construction with rentals in mind and now it seems to be reverting back to condos or a mix of the two. Whatever it is, it’s expensive, though! The city is trying to push large developers for more affordable and mid-range housing, which is tough since construction costs are so high, buildable land so scarce and zoning laws so strict.


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