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Brian C
Joined: 13 Feb 2009
Posts: 98
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 Posted: Fri May 08, 2009 6:44 pm GMT Post subject: The Best of MLS |
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Every once in a while, a special property comes along that you just need to share. They could be strange, overpriced, located in the worst possible place.
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Brian C
Joined: 13 Feb 2009
Posts: 98
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| Posted: Fri May 08, 2009 6:45 pm GMT Post subject: |
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Check out this great realtor description
| Quote: | | Tight tank septic system is approved for this house. No leaching field. 3500 gallon tank will need to be pumped according to use. Low flush toilet, washing machine required. Well test has past. This house cannot be expanded but can be repaired. Structuraly sound house. One car garage can be repaired, not expanded. |
Number: 70750803 |
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balor123
Joined: 08 Mar 2008
Posts: 1204
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| Posted: Sun May 10, 2009 8:04 pm GMT Post subject: |
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22 Mills Rd Needham, MA
No pictures except for street view. Looks pretty ugly. Look at the MLS activity on this thing. Down $130k since purchase in 2008 (somehow this place appreciated 28% in just 1 year!).
171 Wiswall Rd. I posted this mostly because I just think this one is really ugly. It's not particularly cheap either though and kitchen looks pretty out of date. |
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nickbp
Joined: 26 Feb 2009
Posts: 75
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| Posted: Mon May 11, 2009 1:41 am GMT Post subject: |
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| balor123 wrote: | | 171 Wiswall Rd. I posted this mostly because I just think this one is really ugly. It's not particularly cheap either though and kitchen looks pretty out of date. |
Kitchen cabinets are standard rental issue. I've got em in my duplex in Somerville. Those yellow walls will keep you up at night.
How is this worth 2/3 of a million dollars? Are cul-de-sacs and cemetaries really that appealing to people in MA? |
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nickbp
Joined: 26 Feb 2009
Posts: 75
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| Posted: Mon May 11, 2009 1:58 am GMT Post subject: |
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Check out the bathroom tile work in this one. They must be counting it as an "upgrade", going by how it's priced at 20k above what they paid in 2006.
And this bad boy has been relisted 5 times since July 2008. Nice price, too bad they only bothered with 4 different shots of the kitchen.
I still haven't quite figured out what this is supposed to be. Loft space on the TOP LEVEL*! (*2nd floor of a motel) |
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balor123
Joined: 08 Mar 2008
Posts: 1204
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| Posted: Mon May 11, 2009 3:27 am GMT Post subject: |
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| nickbp wrote: | | Kitchen cabinets are standard rental issue. I've got em in my duplex in Somerville. Those yellow walls will keep you up at night. |
So this place has likely been trashed by renters for a long time and they're asking new/renovated housing prices?
| nickbp wrote: | | How is this worth 2/3 of a million dollars? Are cul-de-sacs and cemetaries really that appealing to people in MA? |
And I'm only looking at houses within a price range that I hope to be in some day when my wife starts working. I'm sure you can find worse deals in the $700k - $1mil level as well. |
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balor123
Joined: 08 Mar 2008
Posts: 1204
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| Posted: Mon May 11, 2009 3:40 am GMT Post subject: |
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| nickbp wrote: | | Check out the bathroom tile work in this one. They must be counting it as an "upgrade", going by how it's priced at 20k above what they paid in 2006. |
I could see myself running into those walls in the middle of the night. Why does Somerville command $400/sq ft?
| nickbp wrote: | | And this bad boy has been relisted 5 times since July 2008. Nice price, too bad they only bothered with 4 different shots of the kitchen. |
That's a little strange but it's got central AC and the living room looks alright as well. It's not very big so I'm guessing the rest looks ok. You might count on spending $20 - $30k updating the bathrooms. I wouldn't count on walk-in closets.
Speaking of pictures, I've never understood why these listings don't have like 50 pictures each. Wouldn't you want basically a virtual tour of your house? It's worth the trouble when roughly 10 years of your working life will be dedicated to paying these things off.
| nickbp wrote: | | I still haven't quite figured out what this is supposed to be. Loft space on the TOP LEVEL*! (*2nd floor of a motel) |
That's pretty hilarious. Is that a motel? Looks like the common area isn't private. Anyone can go into your living room and kitchen. Why would someone feel the need to own something that isn't private?
I guess what's important to understand here is that we need only a few basic things to live: food, water, and four walls around us. Boston has figured out how to cash in on the last one. People will do/live with just about anything to stay alive. Shouldn't the government be protecting the right to live rather than threatening it by making housing unaffordable to many? I suppose that's where "affordable" housing comes in.
I haven't been in the market for it but I'm not sure how easy that stuff is to get. I wonder if my wife would qualify since she's a student or if they look at household income. I saw a very nice condo in Brookline that was income limited and there's some nice new units going up around the 128 belt. Apparently it pays to be poor as many of these people are living in nicer conditions than those considerably wealthier than them. |
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Brian C
Joined: 13 Feb 2009
Posts: 98
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| Posted: Mon May 11, 2009 2:55 pm GMT Post subject: |
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| Great job with this posts...keep it up! |
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JCK
Joined: 15 Feb 2007
Posts: 559
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| Posted: Mon May 11, 2009 6:14 pm GMT Post subject: |
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Loving this.
I'll try to post some of mine own "gems" shortly. |
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Brian C
Joined: 13 Feb 2009
Posts: 98
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JCK
Joined: 15 Feb 2007
Posts: 559
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| Posted: Mon May 11, 2009 6:35 pm GMT Post subject: |
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That Dorchester place doesn't look like a bad deal. The ad states that it's currently rented for $1650/mo, but is selling for only $175k as a short sale.
I don't know the neighborhood, but those rent/buy numbers look pretty good. |
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nickbp
Joined: 26 Feb 2009
Posts: 75
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| Posted: Mon May 11, 2009 7:11 pm GMT Post subject: |
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| JCK wrote: | | That Dorchester place doesn't look like a bad deal. The ad states that it's currently rented for $1650/mo, but is selling for only $175k as a short sale. |
Yeah, assuming there aren't issues with the building or surroundings, it actually looks really good. I'm just annoyed/amused due to the bad photography. To be honest, if I was looking to buy right now then I'd probably be setting up a showing. |
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Brian C
Joined: 13 Feb 2009
Posts: 98
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| Posted: Mon May 11, 2009 8:16 pm GMT Post subject: |
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| JCK wrote: | | I don't know the neighborhood, but those rent/buy numbers look pretty good. |
DOT resident here. That neighborhood has really seen alot of good work done during the boom. While its not the prime Dorchester area (Savin Hill, Ashmont, Adams Village), thats cheap money for someone who works in the city. |
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balor123
Joined: 08 Mar 2008
Posts: 1204
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| Posted: Tue May 12, 2009 3:26 am GMT Post subject: |
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What a surprise. Someone who makes $300k/year doesn't want to live in a 800 sq ft house? Especially since there are comparable shacks available for ~$500k that are 2 - 4x bigger. This one has a 3 acre lot but that doesn't do much good if you can only cover 800 sq ft of it. Also, you can buy empty lots in Weston for much cheaper. Lots which aren't currently used as house disposal that needs to be cleaned up. Ok so this might be my if it's not new it sucks side coming out but this house was a really bad deal as originally priced. |
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balor123
Joined: 08 Mar 2008
Posts: 1204
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| Posted: Tue May 12, 2009 3:37 am GMT Post subject: |
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I didn't read the text - it gets even better! You can renovate the house (but can you expand it?)! You can also use the lot to store a bunch of tractors. Why would one of the top 100 towns in America allow a house in "Prime Weston Center location" to be used for storing trucks? More importantly, why would someone feel the need to spend $700k to store a bunch of trucks?
Those issues aside, it says that it is actually 2 adjacent lots. If the city allows you to build two houses on those lots, then it could be a really good deal. Say you get them down to $650k, or $325k/lot, then put a $400k 4br/2.5ba house on top and put it on the market for $1 million, well below price for comparable houses in this town, that's a good profit. It'd be even better if you could put duplexes on them, though that's highly unlikely for this town. |
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