Our house sale closed yesterday. We've moved from homeowners to renters, and moved approximately 70 miles from a less dense area of Massachusetts to metroWest Boston.
Our house sold for 3.5% below appraisal, and a 16% gain over the home purchase price that we paid in April 2004. We had a 3-year ARM, which reset in June and increased 2%.
All in this soft market, with record foreclosures nationwide, an 11.4 month inventory of homes in Massachusetts, and the latest news from the New York Times that new home sales have reached a 12-year low.
