| Purchasing property now in Boston is a gamble. You | | | | San Francisco metro areas continued to get |
| have got to have all the right cards. These include | | | | clobbered, with average price declines of at least 30 |
| credit, capital, and long term security. Sure, these | | | | percent in each region. The average value among all |
| may sound obvious, but in today's market, home | | | | 20 metro areas surveyed in the report fell by 18.7 |
| sellers and the banks issuing loans are looking closely | | | | percent in March compared with the same month a |
| at potential investors. Real Estate is still a commodity. | | | | year ago. The price declines accelerated in certain |
| People are just taking a higher level of morality and | | | | metro areas during the past winter. New York, which |
| opportunism to it. If you are in the market to buy, | | | | has been losing jobs because of the financial |
| be sure to work with a trusted real estate | | | | industry’s problems, saw home prices drop |
| professional. Then, if all the cards are right, you can | | | | by 2.5 percent in one month from February to March. |
| bet on a big win. The latest Standard & | | | | Detroit, which is heavily burdened by the auto |
| Poor’s real estate report showed average | | | | industry’s woes, suffered a decline in |
| home values in Greater Boston plummeting by 8 | | | | home values of 4.9 percent from February to March. |
| percent in one year. And that was the good news. | | | | Minneapolis, meanwhile, was rocked by the largest |
| The new S&P/Case-Shiller home price indices | | | | month-to-month price decline of any metro area in |
| continued a trend that we’ve seen for | | | | the history of the Case-Shiller indices, as prices in that |
| much of the past year. The Boston area’s | | | | region fell 6.1 percent from February to March. All of |
| real estate market has been considerably weak, with | | | | this carnage may come as little consolation to |
| values declining when compared to the same time a | | | | someone in Bridgewater or Braintree who is struggling |
| year ago. But this region is still outperforming nearly | | | | to sell their home in the face of current market |
| every other metro area in the country. There were | | | | conditions. But we should consider beating most of |
| only two out of 20 metro areas that outperformed | | | | the country to be a victory - even if it feels like a |
| Greater Boston: Homes in the Dallas and Denver | | | | hollow one right now. So there you have it, Boston is |
| regions were the “winners� in this | | | | in place to make some major changes in its real |
| losing game by shedding �only� nearly | | | | estate market. The best idea is to invest when |
| 6 percent of their home values from March 2008 to | | | | capital, credit and security is all in place. |
| March 2009. Meanwhile, the Las Vegas, Phoenix and | | | | |