0 People have been here:

Description:
Our first example of how the nationwide credit crunch is hitting Boston, MA. Originally listed at $995,000 on 3/22/07, this MLS property has been under agreement three times over the past five months:


1. Underagreement on 5/22 and back on the market on 5/23/07;


2. Underagreement on 6/21 after a $100,000 price reduction then back on the market on 7/6/07.


3. Although it never appeared as "underagreement" last week, the most recent offer fell through last week, approximately 8/16/07.


By failing to record listings as being "under agreement" in a timely manner, listing agencies may be masking the magnitude of the unfolding credit crunch.



-----



You can help other home buyers assess the magnitude of the credit crunch by adding listings that are "back on market" to The Real Estate Cafe's bubble map, or

add your prediction: How far will rising cost of jumbo loans drive prices down?

Photos:

Maps:

Boston Credit Crunch Map

Tags: