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$2.1M in Medford

 
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PostPosted: Mon Aug 06, 2018 4:41 pm GMT    Post subject: $2.1M in Medford Reply with quote

$400K price reduction on this house in Medford. Has any house in this town ever sold for $2,000,000+? I rarely even see them for over $1,000,000.

https://www.zillow.com/homedetails/105-Governors-Ave-Medford-MA-02155/56277250_zpid/

What is this city coming to?????
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PostPosted: Tue Aug 07, 2018 5:58 pm GMT    Post subject: Reply with quote

Quote:
What is this city coming to?????


Medford is becoming un-affordable, but so is almost everywhere else within 95 belt...

Expectation of $15 dollar minimum wage has set the new price floor forever in Boston.

2bed condo below 300k and 1500SQF SFH below 400k will soon extinct within 30 mins driving distance from downtown Boston.
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PostPosted: Wed Aug 08, 2018 2:24 am GMT    Post subject: Re: $2.1M in Medford Reply with quote

Anonymous wrote:
$400K price reduction on this house in Medford. Has any house in this town ever sold for $2,000,000+? I rarely even see them for over $1,000,000.

https://www.zillow.com/homedetails/105-Governors-Ave-Medford-MA-02155/56277250_zpid/

What is this city coming to?????


Why are there no pictures of the interior?
I bet it's a fixer, but we still want to see the interior.
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PostPosted: Thu Aug 09, 2018 8:00 pm GMT    Post subject: Reply with quote

Quote:
Why are there no pictures of the interior?
I bet it's a fixer, but we still want to see the interior.



Yes it is one of those old mansion that need a lot of money to restore. Here is the note from redfin about this place.

NOTE: needs much interior work, but the grandeur & elegance of the era is evident in nearly every room & this home seeks right owner to return it to its former splendor.
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Elrond



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

PostPosted: Tue Aug 14, 2018 5:29 pm GMT    Post subject: Reply with quote

The asking price on this property seems outrageous!
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BostonMarket



Joined: 01 Nov 2018
Posts: 5
Location: BOSTON

PostPosted: Fri Nov 02, 2018 10:37 am GMT    Post subject: Reply with quote

I bet that house needs a lot of work. The property itself is huge.

There has been a drastic increase in property value in Medford similar to that of Waltham. Anything close to the city is at max price.
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PostPosted: Sat Nov 03, 2018 2:35 pm GMT    Post subject: Reply with quote

BostonMarket wrote:
I bet that house needs a lot of work. The property itself is huge.

There has been a drastic increase in property value in Medford similar to that of Waltham. Anything close to the city is at max price.


It's risky to spend that kind of money in Medford when we are near the top of the real estate cycle. Historically, houses in the lower quality school systems neighborhoods suffer greater percentage losses whenever the real estate market tanks. It's way better to spend the money in Wellesley than Medford.
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