Bidding wars return to Boston-area real estate market | Universal Hub

Notice that the article is about "Boston-area".

I can't say with confidence what is happening in the city proper, but I can tell you from personal experience (my own and those of very close friends) that this has been going on for at least 6-8 months in some of the popular "suburban" communities (I express "suburban" as such as a nod to those who consider anything outside Boston-proper to be the suburbs, eventhough we UHubbers know that many of the city neighborhoods are more suburban than many communities outside of Boston).

Incidentally, the people that I've seen buying in these places are not "overseas investors" as we've seen so frequently in south Florida (and perhaps downtown). In fact, most of them are people who already live in the same community and are upsizing because they've recently had children after getting comfortable that the economic world is not ending as they thought it might in 2008-2010 (an agent told me yesterday that everyone who had come to see a particular house was moving out of a condo).

It's all about the low interest rates and the corresponding monthly payments. There's a big difference between 3.75% and 5% when you're talking about a 900K single family home. The new housing price bubble will keep inflating around here until rates go up (and since the Fed seems so hell-bent on issuing proclamations that that's not happening soon, things are beginning to look very 2006y around here).

Source: http://www.universalhub.com/2013/bidding-wars-return-boston-area-real-estate-market

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