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Rent or Buy in Boston, MA - You be the Judge
Boston, MA, with 23 diverse neighborhoods allow the renter or buyer many options and at all price points.
A recent article from boston.com; "In a tight local market, no relief for renters, apartment hunters", stated that increased demand & declining rental inventory for 4th quarter 2011, increased average monthly Metro Boston rents to $1,686, up from $1,649 in 2010 and $1,600 in 2009.
Rents are expected to continue to rise through 2012. Now may be a good time to think about a home purchase. With over 1500+ Boston properties (Avenue 3 property search) currently on the market and 30 year fixed mortgages at 4% or lower it may make sense to buy now.
Recent Boston condo closing:
South End: 1 bedroom, 610 square feet, updated condo with central air and a private enclosed patio on W. Newton Street, closed in December 2011 for $327,500. With 5% down ($16,375), a 30 yr fixed mortgage at 4%, including condo fee and taxes bring the monthly expenditure to $1,921.36.....search for recent closings here...Avenue 3 Sold Properties Search
here are the pending sales for Boston and the other communities we track ...
pending sales
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