Around the Nation -- Residential Real Estate Update - Massachusetts
By Jeff Adolph
State-by-state
Massachusetts is located in the New England region of the United States in the northeastern area of the nation. This state has an estimated population of 6,349,097, making it the 14th largest in America.
The economy of Massachusetts relies heavily on biotechnology's, finance, health, minicomputers, higher education and food exports, such as seafood and cranberries.
Income tax for this state is divided into two rates 5.3% for wages, interest and dividends, as well as long-term gains, and 12% for short-term capital gains, long and short-term capital gains on collectibles, and installment sales before 1996. However, if you earn under $8,000 you do not have to lodge a tax return.
Property tax is collected by local government, which is assessed by a city and town assessors, and there are several types of exemptions available to taxpayers depending on their situation.
South-End Boston
This area of Massachusetts currently has more buyers than sellers and has a decreasing trend, with homes typically sitting on the market for 60-90 days before selling.
There is no change in prices compared to last year and the median value of houses in this region hovers around the $575,000 mark. Buyers are offering between 95-100% of the asking price and they are making multiple offers. At present repeat buyers are representing the main area of activity within this region.
LGBT Real Estate Facts: There are some 17,099 same-sex couples residing in this state, making it the 9th gayest state in the U.S.A. The gayest zip codes in this area are 02130 Jamaica Plain; 02118 South-End - Boston; 02116 Back Bay - Boston; 02657 Provincetown; 02124 Dochester; 02131 Roslindale -Boston. -- gaydemographics.com
Main Story Source: House Hunt (2008) Real Estate Market Trends; available online at http://www.househunt.com
Picture Source: wikipedia.org
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