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Guest
Guest
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 Posted: Thu Jul 11, 2019 4:15 pm GMT Post subject: Found an old email from 2013... |
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I found an old email for 2013 telling my husband I wanted to go look at this Watertown townhouse. It was price at 150k, but I remember it did need work inside. Out of curiosity I clicked the link to see what the house is worth now, sold for over 400 in 2017, now estimated at 450-550 on Redfin. Kicking myself. I could have retired by now with that profit!
https://www.redfin.com/MA/Watertown/21-Berkeley-St-02472/home/11703016?
This market truly is crazy and this house is a perfect example. A friend just sold her house in Woburn and made a 250k profit in 4 years...on a 2 bedroom, 900 sq ft house on a busy road with zero yard. Crazy. She more than doubled the price they bought it for in 14’. |
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Guest
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| Posted: Sat Jul 20, 2019 9:34 am GMT Post subject: Re: Found an old email from 2013... |
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| Guest wrote: | I found an old email for 2013 telling my husband I wanted to go look at this Watertown townhouse. It was price at 150k, but I remember it did need work inside. Out of curiosity I clicked the link to see what the house is worth now, sold for over 400 in 2017, now estimated at 450-550 on Redfin. Kicking myself. I could have retired by now with that profit!
https://www.redfin.com/MA/Watertown/21-Berkeley-St-02472/home/11703016?
This market truly is crazy and this house is a perfect example. A friend just sold her house in Woburn and made a 250k profit in 4 years...on a 2 bedroom, 900 sq ft house on a busy road with zero yard. Crazy. She more than doubled the price they bought it for in 14’. |
The market is not crazy. This is simple supply and demand. More than 100k people have moved into the greater Boston area since 2013, but very few new townhouses or new houses have been built inside the 128 belt. Only luxury condos are being built and that's why condo prices are starting to come down. Condo prices have little affect on townhouse or house prices because they are for different kinds of buyers. |
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Guest
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| Posted: Sun Jul 21, 2019 2:35 am GMT Post subject: Re: Found an old email from 2013... |
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| Anonymous wrote: | | Guest wrote: | I found an old email for 2013 telling my husband I wanted to go look at this Watertown townhouse. It was price at 150k, but I remember it did need work inside. Out of curiosity I clicked the link to see what the house is worth now, sold for over 400 in 2017, now estimated at 450-550 on Redfin. Kicking myself. I could have retired by now with that profit!
https://www.redfin.com/MA/Watertown/21-Berkeley-St-02472/home/11703016?
This market truly is crazy and this house is a perfect example. A friend just sold her house in Woburn and made a 250k profit in 4 years...on a 2 bedroom, 900 sq ft house on a busy road with zero yard. Crazy. She more than doubled the price they bought it for in 14’. |
The market is not crazy. This is simple supply and demand. More than 100k people have moved into the greater Boston area since 2013, but very few new townhouses or new houses have been built inside the 128 belt. Only luxury condos are being built and that's why condo prices are starting to come down. Condo prices have little affect on townhouse or house prices because they are for different kinds of buyers. |
Have condo pries come down in Boston? I live in the South End, and I
haven't noticed a price drop in BB, BH, SE or SB. |
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lowlyrenter
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| Posted: Sun Jul 21, 2019 4:17 pm GMT Post subject: |
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The current housing market may not be "crazy" but it seems unprecedented to see the prices of homes even in far flung suburbs nearly double in many instances in 5-7 years. Real estate in the greater Boston area has become a fierce, competitive blood sport, not for the faint of heart.
Many people are kicking themselves for not buying at the bottom. No one had a crystal ball after the 2008 Global Financial Crisis and in retrospect, 2012-ish was the time to buy. Now in 2019 after a decade of historically low interest rates we have "irrational exuberance". MA is the 3rd or 4th most expensive area in the country. Yet in 2019, 50K price reductions are common and properties are sitting longer or listings are removed after not selling at the initial inflated asking price.
Sigh. Growing up in MA, a house was not an investment, it was a place to live. Home "owners" didn't huddle at cocktail parties or soccer games, bragging about how much their home was worth, their refi rate or complaining about how ridiculously high their property taxes had become. They weren't addicted to Zillow, seeing what nearby homes were "worth". OK, maybe they did but certainly not in Watertown. Oh and yes, there was no internet then. 
The big question: "is it different this time?" |
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Guest
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| Posted: Sun Jul 21, 2019 5:41 pm GMT Post subject: |
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| lowlyrenter wrote: | The current housing market may not be "crazy" but it seems unprecedented to see the prices of homes even in far flung suburbs nearly double in many instances in 5-7 years. Real estate in the greater Boston area has become a fierce, competitive blood sport, not for the faint of heart.
Many people are kicking themselves for not buying at the bottom. No one had a crystal ball after the 2008 Global Financial Crisis and in retrospect, 2012-ish was the time to buy. Now in 2019 after a decade of historically low interest rates we have "irrational exuberance". MA is the 3rd or 4th most expensive area in the country. Yet in 2019, 50K price reductions are common and properties are sitting longer or listings are removed after not selling at the initial inflated asking price.
Sigh. Growing up in MA, a house was not an investment, it was a place to live. Home "owners" didn't huddle at cocktail parties or soccer games, bragging about how much their home was worth, their refi rate or complaining about how ridiculously high their property taxes had become. They weren't addicted to Zillow, seeing what nearby homes were "worth". OK, maybe they did but certainly not in Watertown. Oh and yes, there was no internet then.
The big question: "is it different this time?" |
Growing up in MA, people were fleeing Boston for the suburbs where there were still places to build new houses. Now people are coming to Boston and there's nowhere to build new houses, except in the exurbs outside of 495. This is like a short squeeze where only the desperate buy. It' too bad you missed didn't buy in 2012 because home prices never goes below the previous bottom except in places like Detroit or the Rust belt cities. The next bottom will come back to 2017 prices. You know we are near the top when Winthrop houses in a flood zone are going for $859,000. We will finally be at the top when Lynn/Mattapan houses reach similar heights.
http://realestate.boston.com/buying/2019/07/18/home-of-week-859000-house-winthrop-shore/ |
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Guest
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| Posted: Sun Jul 21, 2019 5:55 pm GMT Post subject: Re: Found an old email from 2013... |
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| Anonymous wrote: | | Anonymous wrote: | | Guest wrote: | I found an old email for 2013 telling my husband I wanted to go look at this Watertown townhouse. It was price at 150k, but I remember it did need work inside. Out of curiosity I clicked the link to see what the house is worth now, sold for over 400 in 2017, now estimated at 450-550 on Redfin. Kicking myself. I could have retired by now with that profit!
https://www.redfin.com/MA/Watertown/21-Berkeley-St-02472/home/11703016?
This market truly is crazy and this house is a perfect example. A friend just sold her house in Woburn and made a 250k profit in 4 years...on a 2 bedroom, 900 sq ft house on a busy road with zero yard. Crazy. She more than doubled the price they bought it for in 14’. |
The market is not crazy. This is simple supply and demand. More than 100k people have moved into the greater Boston area since 2013, but very few new townhouses or new houses have been built inside the 128 belt. Only luxury condos are being built and that's why condo prices are starting to come down. Condo prices have little affect on townhouse or house prices because they are for different kinds of buyers. |
Have condo pries come down in Boston? I live in the South End, and I
haven't noticed a price drop in BB, BH, SE or SB. |
That's only true of you aren't next to a new condo tower built in the past few years. If you are, ouch. Location, location and location determine real estate prices.
https://www.redfin.com/neighborhood/482/MA/Boston/Chinatown-Bay-Village/housing-market |
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lowlyrenter
Guest
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| Posted: Sun Jul 21, 2019 6:15 pm GMT Post subject: Yes, it is too bad.... |
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...and lowlyrenter hangs head in shame for not buying property in 2012. lowlyrenter avoids cocktail parties (and just about everyone) for this reason. 
Alas, not to worry...lowlyrenter is one of those weirdos called a "saver". Back in the 80's lowlyrenter heard about people "living off of their interest" and thought, what a great idea!! lowlyrenter began saving accordingly although had never heard of The Fed at that point.
Despite now having a substantial nest egg, lowlyrenter is pretty anxious about the future. lowlyrenter is clearly not alone in this regard. This brings lowlyrenter some solace although admittedly, not much.
lowlyrenter will worry some more, will look forward to a brief respite with a cold beer later, wondering what the July Fed meeting will bring.... |
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Guest
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| Posted: Mon Jul 22, 2019 2:49 am GMT Post subject: Re: Yes, it is too bad.... |
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| lowlyrenter wrote: | ...and lowlyrenter hangs head in shame for not buying property in 2012. lowlyrenter avoids cocktail parties (and just about everyone) for this reason.
Alas, not to worry...lowlyrenter is one of those weirdos called a "saver". Back in the 80's lowlyrenter heard about people "living off of their interest" and thought, what a great idea!! lowlyrenter began saving accordingly although had never heard of The Fed at that point.
Despite now having a substantial nest egg, lowlyrenter is pretty anxious about the future. lowlyrenter is clearly not alone in this regard. This brings lowlyrenter some solace although admittedly, not much.
lowlyrenter will worry some more, will look forward to a brief respite with a cold beer later, wondering what the July Fed meeting will bring.... |
It's either snark or sarcasm. Either way ???? |
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optimus
Joined: 23 May 2008
Posts: 39
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| Posted: Thu Jul 25, 2019 4:35 am GMT Post subject: |
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| Is it selfish to want it to come all crashing down to end the insanity? |
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Guest
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| Posted: Sat Jul 27, 2019 10:44 pm GMT Post subject: |
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| optimus wrote: | | Is it selfish to want it to come all crashing down to end the insanity? |
No it's not selfish to want it to come all crashing down. We will be bouncing towards the bottom again in 10 years. |
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Guest
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| Posted: Sun Jul 28, 2019 1:38 am GMT Post subject: |
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| Anonymous wrote: | | optimus wrote: | | Is it selfish to want it to come all crashing down to end the insanity? |
No it's not selfish to want it to come all crashing down. We will be bouncing towards the bottom again in 10 years. |
So I guess that makes this not a bad time to buy. Who wants to
wait 10 years? |
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