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Dear Readers - Happy House Hunting

Happy House Hunting

As we approach the 2008 spring real estate market, Buyers and Sellers are trying to make a determination as to where the market is heading, especially in regard to antique and historic properties.

The Good News is that inventory appears to be matched more closely with demand, as compared to the broader general market. One obvious reason for this is the finite supply of 18th and 19th century antique and historic properties, whose numbers only decrease over time.

Additionally based on sales statistics, there is strong interest in quality antique homes that have been well preserved and maintained. It makes even more sense to continue on with restoration, repairs and improvements to those homes that need it. Massachusetts sales actually show an increase in the average sales price of antique homes in 2007 as compared to 2006, up by 2.3% and achieving an average sales price nearly 20% higher than homes built after 1900.

Based on these trends towards retained value in an otherwise down market, it seems a good time to look for the right property that suits both your budget and your style.
So from my perch, gazing into my crystal ball, I remain an optimist when it comes to the historic home market. Like a rare coin, scarcity and condition play a key role in adding special value to these unique homes. And unlike a coin collection or a stock portfolio, you get the real benefits of having place to live.

John Petraglia is editor of Antique Homes Magazine and owner of Petraglia Real Estate Services