From our President

In May 2010, pending transactions were down slightly in Massachusetts from the same time last year (3-6%). Month-to-month, there was a sizable decrease compared to April 2010 (16-17%). The deadline to qualify for the tax credit was April 30, and is the explanation for the significant decline in number of contracts signed from one month to the other. A few months ago, predictions about what would happen to the housing market once the tax credit expired were much more pessimistic than a mere 17% decline. Now, absent the government stimulus, the number of transactions shrank by less then 20% -- it's clear that the housing market has the potential to run on it's own steam again, and maybe at a more sustainable level.

What's the value of a good public school system? Does it make sense to pay for it even if you don't have children? Homes associated with great schools generally sell faster, in good markets and bad. And property values in towns with top-performing schools suffered significantly less (if at all) compared to neighbors with inferior school systems. If you're buying a house because of the school system, you're going to be paying a premium so be prepared to make some sacrifices when it comes to square footage and amenities. So long as the schools in your town maintain their performance, you'll be in a good position when it comes to sell.