bostonbubble.com

[balor123]

Received a notice in the mail today that "The Village at Bedford Woods" in Bedford, MA is having an auction May 3, 2008. Looks like the seller died. Email Jane.Lane@NEMoves.com for more info. These are VERY nice units but only 2-bedrooms. Starting bid ranges from $330k to $413k. You just have to be able to get over two things. First, while it isn't far from Boston it is in a very remote area. Second, it is next door to a shooting range.

I also visited Repton Place in Watertown this weekend and it seems that these types of units are in trouble. While there were lots of people touring the property, one of the first things that the agent mentioned was what their bottom line price is. There are still lots of units available there.

[advantagerenter]

i'm not familiar with the concord area (other than driving through it on my way to amherst as a student)...but looks like a new development called 'Concord Commons' is up for auction:

http://www.concordcommons.net/

[admin]

Here's the link for The Village at Bedford Woods:

http://www.villageatbedfordwoods.com/

And here's the auction info:

http://www.djflynn.com/ActonBedfordForms.html

It looks like there is an open house this Sunday.

- admin

[admin]

Here's a Globe article from today on the Concord Commons:

http://www.boston.com/news/local/articles/2008/04/24/luxury_condos_put_up_for_auction/

- admin

[advantagerenter]

http://www.themodernsouthend.com/home.html



...keep them coming

[mrkercher]

I've lived in Bedford area (renting) for nearly 7 years, so I know the local towns fairly well. This condo development is in an area of Bedford that was probably chosen by the developer as cheap land, since there is little good land left in the town, as it is in a very undesirable area. Like many towns near the commuting corridors, Bedford is intersected by a major thoroughfare, Route 3, which cuts off the Eastern edge of the town. The same phenomenon happens with the Northwestern slice of Lexington, cut off from the rest of the town by Route 95. Neither isolated neighborhood slice feels connected to the owning town.

This condo complex is on the Eastern-most slice of Bedford, nearer to Billerica and Burlington. It is a very marshy land area near the Shawsheen River watershed (great for wildlife, not great for good land), also near the industrial zoned corridor East of Rt. 93 on the Middlesex Turnpike. Bedford generally has a reputation for good schools and mixed income homes (older working class neighborhoods with newer pockets of McMansions). The rental stock is minimal.

I frequent Craigslist.org weekly and there are always updated listings for rentals in this complex (like this one http://boston.craigslist.org/gbs/nfb/655657685.html). They seem to be there every week. Personally, I would not want to rent in this development, as it is quite isolated from the rest of Bedford. It doesn't surprise me that the developer is auctioning unsold units in this complex -- with the bubble burst, people will find these problems with the property and will tend to be more discriminating.