Page 9 - BusinessWest January 24, 2022
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to second-guess it,” she continued. “You have
to move forward with a strong offer. We’re still most likely going to see things selling over asking price, with multiple offers on properties that are well-priced.”
At the end of 2021, listings lingered on the market 22 days on average, but that number is skewed by a few outliers. “In reality, many prop- erties are leaving the market before that.”
ple in urban centers who still want to live near amenities.
“People covet living in downtown Amherst; they love to be able to walk places. Northamp- ton is the same,” she said, noting that apartment rents are also on the rise, again impacted by sup- ply and demand, and people priced out of the home-buying market needing a place to live.
“I do think affordable housing needs to stabi- lize to some extent
“Often, properties come on the market, and Real- tors defer showings and have many people come in at once instead of private showings.”
It’s not unusual, she added, for those tours to have a set layout, with interested buyers entering by one door, following a path, and leaving by a different door. “As we go back to in-person show- ings, we’re trying to keep it as normal as possible, but as safe as possible, too.”
She pointed to the state’s Housing Choice Initiative, created a few years ago to incentivize communities to build more housing stock, as one way to increase supply.
“I really hope for a market correction so more people can afford to come into the market,” Nancy Hamel said. “I remember, when I was young, we didn’t require these huge down pay- ments, and a house cost $50,000. Home owner- ship shouldn’t be only for the wealthy.”
Malandrinos agreed. “Buyers are tired,” she said. “It’s not unusual to hear, ‘my buyer lost out on their third property.’ Everyone benefits when there’s more equity in the market. I hope we get there, but we’re not there yet.”
There’s only so much comfort those words bring to people who feel they’re priced out of the kind of home they want in Western Mass.
“It’s easy for people to get frustrated, but stick with it. There is a property for you,” she added. “You need to be confident and come in with a strong offer you’re comfortable with — and hang tight.” u
Joseph Bednar can be reached at [email protected]
 “Supply-chain disruptions for building new homes and labor shortages have hindered bringing more inventory to the market. Therefore, housing prices continue to march higher due to the near record-low
because prices have gone a little beyond where I thought they would be in our area,” Amy Hamel added. “I do won- der what this year
is going to be like. There are many factors that play into the market, and especially with COVID still running rampant, it’s going
     LAWRENCE YUN
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supply levels.
 What she doesn’t recommend is acting out
of panic — for instance, by waiving inspections. “I’m not one, in good conscience, to recommend that. Maybe you’re saying, ‘I want to hold off my inspection and reserve the right to withdraw, but don’t expect you to do any repairs.’ That’s also a way to get around that.”
Street-level View
Nancy Hamil has seen downtown Amherst values rise to 20% higher than similar properties in other neighborhoods, and one factor might be that migration into Western Mass. from peo-
to be interesting to see how this year plays out.” The pandemic did change the way homes are shown, Malandrinos said, with 2020 givijg rise to
virtual tours using 360-degree videography.” “That stayed with us and likely will con-
tinue, as it makes everyone feel safer,” she said, while noting that in-person tours are still com- mon, though some sellers are leaning more toward open houses instead of many individual showings.
“Some people are still concerned about safety, so you have to work with your Realtor and make a plan that makes sense for you,” she noted.
MAINTENANCE INCLUDED
   3
FOR
YEARS!
 PREOWNED VEHICLES PURCHASED FROM BALISE INCLUDE A 3-YEAR MAINTENANCE PLAN.
Start the year off with peace of mind! This January and February, we’re including a 3-year maintenance plan with most preowned vehicle purchases. That means we’ll cover every factory-recommended oil change, tire rotation, and multipoint inspection for the next 36 months or 36,000 miles so you can keep that cash for life’s other necessities.
  Maintenance plan included with purchase of used vehicle from 1/1/2022 through 2/28/2022, commencing on agreement application date and expiring after 36 months or 36,000 miles, whichever comes first. Plan valid for oil changes, tire rotations, and multi- point inspections at Balise dealerships for vehicle manufacturer’s normal usage scheduled intervals only. Severe/heavy duty schedules and additional maintenance items may be required or recommended and are not included. Plan is not transferable to another vehicle or owner. Lease buyouts, commercial use vehicles, and L/Certified by Lexus are not eligible. Other exclusions may apply. See dealer for details. Not valid for purchases made prior to 1/1/2022.
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