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Signs of bubble:"This old house" will flip a house

 
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PostPosted: Thu Feb 23, 2017 1:02 pm GMT    Post subject: Signs of bubble:"This old house" will flip a house Reply with quote

For Boston natives, the show "this old house" on PBS is considered a religion, its a classic show from the 80's with a crazy following

They announced on a webcast that this year's project will be to "flip" a house with proceeds going to some kind of scholarship.

If this isn't a sign of a bubble top, I don't know what is! If you don't follow the show, you don't realize how "out of character" this is for this show

https://www.youtube.com/watch?v=5Mnnzw7tV5I

First time a 'quality' "flip" will be shown on TV
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PostPosted: Sat Mar 04, 2017 7:31 pm GMT    Post subject: Re: Signs of bubble:"This old house" will flip a h Reply with quote

Anonymous wrote:
For Boston natives, the show "this old house" on PBS is considered a religion, its a classic show from the 80's with a crazy following

They announced on a webcast that this year's project will be to "flip" a house with proceeds going to some kind of scholarship.

If this isn't a sign of a bubble top, I don't know what is! If you don't follow the show, you don't realize how "out of character" this is for this show

https://www.youtube.com/watch?v=5Mnnzw7tV5I

First time a 'quality' "flip" will be shown on TV


I think 849,000 for a decent house in Medford screams bubble top. Come on, it's Medford.

http://realestate.boston.com/open-houses/2017/03/01/open-house-a-reconstructed-medford-single-family-with-a-rock-waterfall-in-the-backyard/
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PostPosted: Sun Mar 05, 2017 12:54 pm GMT    Post subject: Reply with quote

Quote:
I think 849,000 for a decent house in Medford screams bubble top. Come on, it's Medford.


I don't think the bubble is at the top yet, I feel it is about 1.5 to 2 years away from popping.
One thing we need to be aware of is the gentrification process currently going on in greater Boston area, which should explain price hike in Medford.

Medford has been the second tier choice for buyers, who are priced out of Cambridge and Somerville area. Currently Cambridge/Somerville price is way too high for average family income, so Medford automatically become the most possible option.
Also not just Medford, for the last couple of years, I see even Malden become the hot area as well. This is mostly thanks to the Assemble row project that largely upgrading the surrounding areas.
Same type of large development transform the area for higher end, are happening in south boston near seaport, as well as allston/brighton near Boston landing.
So for seeing price hike in some used-to-poor areas in greater Boston, we also need to understand the reason behind it.
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PostPosted: Sun Mar 05, 2017 1:18 pm GMT    Post subject: Re: Signs of bubble:"This old house" will flip a h Reply with quote

Anonymous wrote:


I think 849,000 for a decent house in Medford screams bubble top. Come on, it's Medford.

http://realestate.boston.com/open-houses/2017/03/01/open-house-a-reconstructed-medford-single-family-with-a-rock-waterfall-in-the-backyard/


Admittedly, that Medford house looks nice on the inside. I could see how a clueless buyer could be wowed into it. The outside looks meh and the very slanted and small backyard is sure to cause water problems during heavy rains.
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PostPosted: Sun Mar 05, 2017 11:24 pm GMT    Post subject: Reply with quote

Anonymous wrote:
Quote:
I think 849,000 for a decent house in Medford screams bubble top. Come on, it's Medford.


I don't think the bubble is at the top yet, I feel it is about 1.5 to 2 years away from popping.
One thing we need to be aware of is the gentrification process currently going on in greater Boston area, which should explain price hike in Medford.

Medford has been the second tier choice for buyers, who are priced out of Cambridge and Somerville area. Currently Cambridge/Somerville price is way too high for average family income, so Medford automatically become the most possible option.
Also not just Medford, for the last couple of years, I see even Malden become the hot area as well. This is mostly thanks to the Assemble row project that largely upgrading the surrounding areas.
Same type of large development transform the area for higher end, are happening in south boston near seaport, as well as allston/brighton near Boston landing.
So for seeing price hike in some used-to-poor areas in greater Boston, we also need to understand the reason behind it.


Agree. Just think how much this house would be listed for in Cambridge...
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