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Price Decreases?
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PostPosted: Fri Aug 24, 2018 11:58 am GMT    Post subject: Reply with quote

http://realestate.boston.com/buying/2018/08/23/greater-boston-home-prices-sales-soar/?s_campaign=bdc:hp:well:realestate

What happened to the slow down? Still 7% yoy. It looks like we are still at least 2 years away from the top of the market. If you are looking to buy, the best case scenario is 3% yoy in 2019 and 0% yoy in 2020 before negative yoy in 2021. The worst case scenario is Amazon HQ2 comes to Boston and no declines for another decade.
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Guest






PostPosted: Sat Aug 25, 2018 2:34 am GMT    Post subject: Reply with quote

Anonymous wrote:
http://realestate.boston.com/buying/2018/08/23/greater-boston-home-prices-sales-soar/?s_campaign=bdc:hp:well:realestate

What happened to the slow down? Still 7% yoy. It looks like we are still at least 2 years away from the top of the market. If you are looking to buy, the best case scenario is 3% yoy in 2019 and 0% yoy in 2020 before negative yoy in 2021. The worst case scenario is Amazon HQ2 comes to Boston and no declines for another decade.



http://time.com/money/5374835/amazon-hq2-state-frontrunner/

According to CNBC analysis, Texas is the likely location for Amazon.
Let's hope they're right.
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Guest






PostPosted: Sat Aug 25, 2018 4:10 am GMT    Post subject: Reply with quote

Anonymous wrote:
Anonymous wrote:
http://realestate.boston.com/buying/2018/08/23/greater-boston-home-prices-sales-soar/?s_campaign=bdc:hp:well:realestate

What happened to the slow down? Still 7% yoy. It looks like we are still at least 2 years away from the top of the market. If you are looking to buy, the best case scenario is 3% yoy in 2019 and 0% yoy in 2020 before negative yoy in 2021. The worst case scenario is Amazon HQ2 comes to Boston and no declines for another decade.



http://time.com/money/5374835/amazon-hq2-state-frontrunner/

According to CNBC analysis, Texas is the likely location for Amazon.
Let's hope they're right.



Yes I hope they are right, we don't need Amazon here.
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Guest






PostPosted: Tue Aug 28, 2018 2:56 am GMT    Post subject: Reply with quote

Anonymous wrote:
http://realestate.boston.com/buying/2018/08/23/greater-boston-home-prices-sales-soar/?s_campaign=bdc:hp:well:realestate

What happened to the slow down? Still 7% yoy. It looks like we are still at least 2 years away from the top of the market. If you are looking to buy, the best case scenario is 3% yoy in 2019 and 0% yoy in 2020 before negative yoy in 2021. The worst case scenario is Amazon HQ2 comes to Boston and no declines for another decade.


don't forget scenario 2: Amazon's new healthcare venture which just started a few months ago in Boston.... becomes successful and triggers a 'healthcare tech' wave in Boston rivalling the 'social media' wave which is now petering out
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Guest






PostPosted: Tue Sep 04, 2018 12:46 pm GMT    Post subject: Reply with quote

Somewhere there is a 100 year old man holding out to buy a single family home in metro Boston for $20,000.. because that was the price he passed up on originally.

Its a joke but the cause is serious: Inflation

Inflation does terrible things, especially since it creeps up on you slowly. How much of the price increase is due to inflation vs bubble?

In the same way gas is never going back to $1 a gallon, and especially with the minimum wage hike.. one could argue its causes a PERMANANT 5% increase in home values

its very hard to determine value vs inflation. The one thing we should not wish for is deflation
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Guest






PostPosted: Wed Sep 05, 2018 11:07 am GMT    Post subject: Reply with quote

Anonymous wrote:
Somewhere there is a 100 year old man holding out to buy a single family home in metro Boston for $20,000.. because that was the price he passed up on originally.

Its a joke but the cause is serious: Inflation

Inflation does terrible things, especially since it creeps up on you slowly. How much of the price increase is due to inflation vs bubble?

In the same way gas is never going back to $1 a gallon, and especially with the minimum wage hike.. one could argue its causes a PERMANANT 5% increase in home values

its very hard to determine value vs inflation. The one thing we should not wish for is deflation


In the Boston area, it's more NIMBYism that's driving up prices. A postage stamp sized buildable lot in the Boston area is at least 300k. Add 300k to build a 2k sqft house. Add 200k profit for the developer and you are looking at least 800k for a new house.
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Guest






PostPosted: Sat Sep 22, 2018 12:32 pm GMT    Post subject: Reply with quote

definitely starting to see some price reductions on some properties. However, without going to see the house, not sure if they were grossly overvalued in the first place:

still on market
Newton- 860k down to $799
https://www.redfin.com/MA/West-Newton/22-Furbush-Ave-02465/home/11425540

the direct neighbor just listed at $950. Seems very similar. We get to watch them both duke it out
https://www.redfin.com/MA/West-Newton/18-Furbush-Ave-02465/home/11425544
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Guest





PostPosted: Sat Sep 22, 2018 4:52 pm GMT    Post subject: Reply with quote

Anonymous wrote:
definitely starting to see some price reductions on some properties. However, without going to see the house, not sure if they were grossly overvalued in the first place:

still on market
Newton- 860k down to $799
https://www.redfin.com/MA/West-Newton/22-Furbush-Ave-02465/home/11425540

the direct neighbor just listed at $950. Seems very similar. We get to watch them both duke it out
https://www.redfin.com/MA/West-Newton/18-Furbush-Ave-02465/home/11425544


Crazy that second house you posted has almost doubled in price in 5 1/2 years - also I don’t think I could drop a million on a house with that ugly dated kitchen.

I just wonder when enough will be enough, I’m on the higher end of the millennial group, went to college, busted my ass, have a good job in tech and can’t even find a new place to rent because the prices are so high, nevermind buy. I guess moving out of state is an option, but it sucks when you can’t afford to rent bc yet have been told to do everything right after high school. I have a ton in savings now and still can’t afford the mortgage prices on the lower end.
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Elrond



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

PostPosted: Sun Sep 23, 2018 1:51 pm GMT    Post subject: Reply with quote

Pretty mediocre, small house, for close to a million dollars. Not sure if the Newton school system is really worth that much. It wouldn't be to me!
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PostPosted: Mon Sep 24, 2018 3:14 am GMT    Post subject: Reply with quote

Newton is an expensive town. There are plenty of towns where a 2000 sf
3 br 2 ba house costs much less.
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Guest





PostPosted: Tue Sep 25, 2018 3:18 pm GMT    Post subject: Reply with quote

Anonymous wrote:
Newton is an expensive town. There are plenty of towns where a 2000 sf
3 br 2 ba house costs much less.


I’m continuing to get price drop after price drop emails from Redfin, all types of budgets too not just higher end 1 mill+ listings. I do see some still selling for over asking though.
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PostPosted: Wed Sep 26, 2018 9:29 pm GMT    Post subject: Reply with quote

It's starting. Declines will expedite
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Guest






PostPosted: Thu Sep 27, 2018 1:41 am GMT    Post subject: Reply with quote

Anonymous wrote:
It's starting. Declines will expedite

Prices always drop in the fall/winter and will go up again in the spring/summer. In 6 months, people will be complaining about higher prices again.
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PostPosted: Sat Oct 06, 2018 3:34 am GMT    Post subject: Reply with quote

Why is Somerville so expensive? It's so ordinary in every way. Average school
system. But it's practically as expensive as Brookline.
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PostPosted: Sun Oct 07, 2018 1:57 am GMT    Post subject: Reply with quote

Anonymous wrote:
Why is Somerville so expensive? It's so ordinary in every way. Average school
system. But it's practically as expensive as Brookline.


Cambridge is more expensive than Brookline ($/sqft). People who can't afford Cambridge settle for Somerville. The better question is why is Dorchester so expensive? There are shootings or stabbings every other day in Dorchester.
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