Brookline (Boston, Cambridge, Newton: real estate market, how much, houses)

[indian1]

New immigrant to US planning to buy a single family in brookline

Any comments about brookline are welcome.

Specifically;
*Is it the right time to buy in brookline?
*Do single family home prices in brookline hold?
*I am looking at brookline village, harvard/washington streets, anything close to longwood hospitals. How much would a run down/un renovated single family(13-1400 sq ft. living area) in these locations cost? I have been told in this forum a renovated sf would cost upward of $800k.

thanks

[indian1]

I am a bit surprised to see no reponses for some simple questions I asked.

[smarty]

*Is it the right time to buy in brookline?
This is not an easy question. It is like asking if it is the right time to buy stock. I wish I have a crystal ball.

*Do single family home prices in brookline hold?
It usually hold fairly well. Again, it depends on when you buy and how long you will hold. If you buy high now and it may take 3-10 years to go back up. History has shown it will go up in time... but no one can tell you the time line. The last dip was in 1989... price of housing did not go back to the same level until 1994. Since then, it has doubled and more.


*I am looking at brookline village, harvard/washington streets, anything close to longwood hospitals. How much would a run down/un renovated single family(13-1400 sq ft. living area) in these locations cost? I have been told in this forum a renovated sf would cost upward of $800k.
Again, there are very little run down single family house. It is hard to give you a price. The lowest price single family house in Brookline right now is $450K. My guess is $600K. you have to understand if the house lot is big enough, people are converting it into 2 family selling each one for $500+K. You are competing with professional builders for those lots/houses. They are in town everyday looking. By the time you see it, it is already sold or the price is high enough that they think is too high.

I suggest go to realtor.com to do a search for brookline MA for single family house only.

[HowGoesIt]

Originally Posted by indian1

How much would a run down/un renovated single family(13-1400 sq ft. living area) in these locations cost?
thanks

I HIGHLY doubt there are any run down houses in Brookline. A single family home in Prime would cost just under a million.

The real estate market in Boston has been weakened and there are deals to be had. The suburbs are getting hit the hardest, with outer exurbs taking a pounding. Areas like Brookline, Cambridge, and downtown will hold their value MUCH better than those areas. I would not hesitate to buy a house in Brookline right now (maybe you can even low ball a little)

[MovingForward]

I like Brookline, too. It is, however, a very urban town--which is great, if that's what you're looking for. If, on the other hand, you would rather live in a more suburban setting, but with quick access to Boston/Cambridge, I seriously recommend that you look at Newton, Belmont, and Arlington, as well.