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Malden
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bsg61
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PostPosted: Wed Jul 18, 2018 5:12 pm GMT    Post subject: Malden Reply with quote

The price/tax history on this property is a bit jaw-dropping, especially in the last (less than) 4 years:

07/05/18 Listed for sale $1,199,000 +150%
12/02/14 Sold $480,000 +0%
02/04/13 Sold $418,000- 6.9%

https://www.zillow.com/homes/for_sale/Malden-MA/house,condo,apartment_duplex,townhouse_type/56517181_zpid/28939_rid/1-_baths/501000-1500000_price/1991-5960_mp/0-500_hoa/globalrelevanceex_sort/42.498048,-70.941296,42.358671,-71.167889_rect/11_zm/0_mmm/
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PostPosted: Fri Jul 20, 2018 2:55 am GMT    Post subject: Reply with quote

It's a very large unusual house. Not always a good candidate for resale.
I'm sure they're justifying the list price based on the $200 sf, which is
typical for Malden.
But people with $1.1M to spend don't want Malden. (no disrespect to Maldeners).
I'll e curious to see what happens.
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Elrond



Joined: 27 Feb 2013
Posts: 41
Location: Boston, MA

PostPosted: Fri Jul 20, 2018 4:07 am GMT    Post subject: Reply with quote

If that property sells for over $1M I'll be amazed.
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bsg61
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PostPosted: Fri Jul 20, 2018 5:57 pm GMT    Post subject: Reply with quote

The increase in "value" in less than 4 years seems just a bit bubblicious. Yes, it is a large unique property and is currently worth 1.234K per Zestimate, an increase of 41% in the last 30 days.

If you look under the "Home Value" section you see a rather dramatic spike in 2018.

Will be interesting to watch what happens.
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admin
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Joined: 14 Jul 2005
Posts: 1821
Location: Greater Boston

PostPosted: Fri Jul 20, 2018 6:01 pm GMT    Post subject: Reply with quote

In Zillow, you can claim the house as an owner, and I assume that lets you change property details. That might explain the 30 day spike.

- admin
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PostPosted: Fri Jul 20, 2018 9:49 pm GMT    Post subject: Reply with quote

Zillow can't be trusted.
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PostPosted: Sat Jul 28, 2018 6:14 pm GMT    Post subject: Reply with quote

Malden is up and coming, due to less and less affordable area within 95 belt. People who can not afford area with nice school system start to settle for better commute option. If you think Malden is still cheap, then you better check on the price hike in area like Lynn or chalea for the last couple of years. Malden are upscale compare to those areas.
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PostPosted: Sun Jul 29, 2018 4:34 pm GMT    Post subject: Reply with quote

Its best to look at Malden as a leading indicator for slow down. Towns like these drop first and fast (and hard) when weakness sets in.
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PostPosted: Mon Jul 30, 2018 12:38 am GMT    Post subject: Reply with quote

Quote:
ts best to look at Malden as a leading indicator for slow down. Towns like these drop first and fast (and hard) when weakness sets in.


Malden used to be the cheap slum area, even with orange line accessible. Back in the old days, people who could not afford living in boston city, will either pick Malden or Quincy for settling, due to T accessible and relatively cheaper price. And I remember knowing friends who settled in Quincy used to look down on Maldener for even shittier school system and worse environment.

But with the outlet mall and Casino near by, the transformation of the area is start to show, the price hike there actually having some more footing.

I personally think Malden property price will be much more resilient on the next downturn. If Malden drop fast and hard when weakness set this time, I will buy in for long term holding, especially in area close to T station.
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PostPosted: Mon Jul 30, 2018 1:14 am GMT    Post subject: Reply with quote

Anonymous wrote:
Quote:
ts best to look at Malden as a leading indicator for slow down. Towns like these drop first and fast (and hard) when weakness sets in.


Malden used to be the cheap slum area, even with orange line accessible. Back in the old days, people who could not afford living in boston city, will either pick Malden or Quincy for settling, due to T accessible and relatively cheaper price. And I remember knowing friends who settled in Quincy used to look down on Maldener for even shittier school system and worse environment.

But with the outlet mall and Casino near by, the transformation of the area is start to show, the price hike there actually having some more footing.

I personally think Malden property price will be much more resilient on the next downturn. If Malden drop fast and hard when weakness set this time, I will buy in for long term holding, especially in area close to T station.


People said the same thing about Somerville 10 years ago.

The expensive towns hold their value better because buyers have to put down 20% or more for jumbo mortgages over 625k. You can get a jumbo loan with 10% down as long as you have millions in assets to use as collateral. People who can afford 20% down have deeper pockets to ride out most recessions or job loss. It's the people who put 5% or less who usually end up in foreclosure. In the last downturn, we did see some foreclosures in the expensive areas due to the liar loan borrowers.
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PostPosted: Thu Aug 02, 2018 3:48 am GMT    Post subject: Reply with quote

Anonymous wrote:

But with the outlet mall and Casino near by, the transformation of the area is start to show, the price hike there actually having some more footing.


There's nothing classier than living near a Casino and Outlet mall, something to aspire to, lol...
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PostPosted: Thu Aug 02, 2018 5:46 pm GMT    Post subject: Reply with quote

Quote:
But with the outlet mall and Casino near by, the transformation of the area is start to show, the price hike there actually having some more footing.


There's nothing classier than living near a Casino and Outlet mall, something to aspire to, lol...



It is not about class you simpleton. Nothing in malden is related to class currently. It is all about solid rental demand, due to easy commute to downtown and area's transformation. Rental demand will keep your property price from going south, even during down market.
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PostPosted: Sun Aug 05, 2018 1:36 am GMT    Post subject: Reply with quote

Just when you thoought the tone of the discourse was starting to improve ...
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PostPosted: Sun Aug 05, 2018 8:56 pm GMT    Post subject: Reply with quote

Anonymous wrote:
Just when you thoought the tone of the discourse was starting to improve ...


What do you expect from a person from Malden? Wait until someone from Lynn chimes in and curses like a sailor.
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bsg61
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PostPosted: Sat Nov 03, 2018 5:42 pm GMT    Post subject: Reply with quote

Interesting. According to Zillow, it hasn't sold and no price reduction. Maybe someone will snap it up over the winter.
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