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news
Joined: 14 Jul 2007
Posts: 0
Location: Greater Boston
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JCK
Joined: 15 Feb 2007
Posts: 559
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 Posted: Mon Aug 11, 2008 1:52 pm GMT Post subject: |
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Nice article. I love the quotes: "If this house were in Westwood (or somewhere else) it would be a great deal."
(Yeah, and if my aunt had balls, she'd be my uncle...)
Isn't that the point? Stoughton (which, for the record, I know almost nothing about) appears NOT to be a town with million dollar homes. To use a car analogy, building a super expensive house in a less expensive town is like spending $30k to soup up a Honda Civic. Just because the total cost is similar, doesn't mean that the BMW and Mercedes drivers are suddenly going to become interested.
Any "odd ball" house with limited numbers of potential buyers for whatever reason (weird layout, high price relative to town, undesirable location) are going to suffer the most in a down market.
The one thing the article didn't address is the increased cost (and decreased availability) of jumbo financing. I have to imagine that these factors have played a significant role in the loss of marketability of these houses. |
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Brian C
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| Posted: Mon Aug 11, 2008 2:09 pm GMT Post subject: |
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Here is the #1 reason why this house will NEVER sell:
| Quote: | | Pricing may be a hurdle for the Patrick's Run home in Stoughton. For one, there has never been a million-dollar sale in the town. Indeed, the highest-priced sale recorded in the town is for a neighboring home on Patrick's Run at $780,000 in 2005 |
And here is #2 reason why this house will NEVER EVER sell:
| Quote: | | The home had drawn offers, including one for more than $1 million from a qualified buyer that the seller turned down months ago. |
BTW if you spent $900k building a house in Stoughton...you have other problems! |
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