bostonbubble.com

optimus · Joined: 23 May 2008 Posts: 39

It looks like inventory will be higher this Summer. How high do you think it will go?

Richthofen · Joined: 02 Apr 2014 Posts: 69

There are 16 SFH in Arlington right now. That's certainly a lot better than the 6 that were for sale in December. But it's a far cry from the 100+ listings that were on MLS during the housing bubble.

Inventory right now appears to mostly be coming on market due to estate settling. Move up buyers are still totally toast (as prices are back at 2006 levels and interest rates are 100 bp above this time last year.)

Former Arlingtonian · Joined: 23 Oct 2013 Posts: 141

Let's take a look at some of the huge Mortgages that are now being carried in Arlington on the most recent sales.

83 Gray St - Arlington - sold for $1.5 Million in December - the new Mortgage is $1 Million. The previous highest sale price for this home was 2007 when it sold for $1 Million.

Crazy - these young folks are obsessed with owning no matter how much mortgage debt has to be taken on.....

Former Arlingtonian · Joined: 23 Oct 2013 Posts: 141

How about this as an example of these new buyers are absolutely out of their minds 55 Epping - sale price $921,000 and the new mortgage is:

$736,800 - the last sale for this home was 2012 for $379,000 and I'm sure there have been upgrades.

Former Arlingtonian · Joined: 23 Oct 2013 Posts: 141

Here is a listing in Arlington that isn't a estate sale and its FSBO (because the seller might not have enough profit in the home if they used an agent.

9 Crescent Hill - Arlington for sale for $499,950.

This home last sold in 2008 for $424,000 at that time the buyer took out a $419,200 mortgage, then in 2011 got a second mortgage to do home improvements of $17,182.

Debt outstanding for this home is $436,000 - if the seller used a realtor they would give up $24,000 assuming a 5% commission. What if the offer comes in lower than $499,950.......

Debt, Debt, and more Debt is what is moving this market.