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10-30-2008, 11:42 PM
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It's just a name...
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Join Date: Jul 2006
Location: Metrowest, MA
1,790 posts, read 2,716,093 times
Reputation: 418
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A more realistic comparison would be using OFHEO's House Price index (HPI) where the same house sold have more weight.
Office of Federal Housing Enterprise Oversight |
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11-06-2008, 12:53 PM
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Join Date: Oct 2008
16 posts, read 12,062 times
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its is a great time to buy anywhere! just make sure you have to money to do it and not put zero down! be smart!
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11-10-2008, 05:26 PM
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Junior Member
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Join Date: Nov 2008
7 posts, read 6,012 times
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Prices are stable in the city of Boston (except Dorchester, Chelsea, East Boston) due to supply and demand combined with the lack of land to build on. The media hypes a bubble burst in the USA but Boston is immune. Don't expect a crash in the Boston market. The rich get richer and the poorer get poorer is the motto in Boston. The rich want to live where the rich live so the prices stay stable. Logic tells you that if prices stay stable in Boston in a deep recession then when the markets turn around Boston should expect another bull run in real estate prices or another bubble. Compare Boston prices to New York city prices and you'll see that Boston has plenty of room to grow. Enjoy Capitalism and embrace it  |
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11-10-2008, 09:46 PM
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Junior Member
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Join Date: Nov 2008
8 posts, read 5,012 times
Reputation: 18
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Housing is expensive here because we are totally built out. There isn't any more buildable land close to the city. Those old tired capes for $400,000 are also known as tear downs. Supply and demand, if the demand wasn't there the prices would drop. As the post above makes clear, it is LOCATION that counts.
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11-11-2008, 03:40 PM
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It's just a name...
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Join Date: Jul 2006
Location: Metrowest, MA
1,790 posts, read 2,716,093 times
Reputation: 418
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Quote:
Originally Posted by MMfromBOS
Housing is expensive here because we are totally built out. There isn't any more buildable land close to the city. Those old tired capes for $400,000 are also known as tear downs. Supply and demand, if the demand wasn't there the prices would drop. As the post above makes clear, it is LOCATION that counts.
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Yes. Location is key... but this down turn is bigger than many can imagine. Many newly built hotels and condos are changing plans. Downtown crossing condo plan is being down sized. The question is how many people can afford $1-2k condo fees/taxes per month. This may force many to sell.
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Originally Posted by bostonlover456
its is a great time to buy anywhere! just make sure you have to money to do it and not put zero down! be smart!
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If it is such a great time to buy... why not ZERO down? You don't believe they will go up 10-50% in the next few years? Based on calculations, rent is still much cheaper than buy. There are many $500+K condos renting for $2-3K a month. That is just $1K/mo after paying condo fee and property taxes.
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Originally Posted by guest187
Prices are stable in the city of Boston. The media hypes a bubble burst in the USA but Boston is immune. Don't expect a crash in the Boston market.
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Many are saying it will not crash... but can easily go down another 10-15% in the next year. I see foreclosure... even in Brookline. The inventory increased since the summer, this means the pressure is still on for prices to drop.
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11-16-2008, 01:46 AM
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Join Date: Nov 2008
23 posts, read 11,977 times
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Quote:
Originally Posted by HowGoesIt
This real estate decline is all about location.
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Yeah if your house is in the USA it declined. Some places are holding up good and the Boston economy seems stronger than in alot of other places, but I am guessing it is just a matter of time before things begin to really slow down here too. Hopefully I am worng. |
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12-03-2008, 10:56 PM
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Junior Member
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Join Date: Dec 2008
Reputation: 10
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at least 10% in boston are forclosure sales
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12-04-2008, 12:09 PM
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Senior Member
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Join Date: Oct 2008
2,098 posts, read 1,181,542 times
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Well, I'm familiar with the Brookline market (it's one of my hobbies) and nothing is selling unless it's a very very very good buy. That means you look at the price and the property and go OH MY GOD I'd better put a bid in now before someone else steals it from me.
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12-05-2008, 10:55 AM
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It's just a name...
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Join Date: Jul 2006
Location: Metrowest, MA
1,790 posts, read 2,716,093 times
Reputation: 418
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Quote:
Originally Posted by didida
at least 10% in boston are forclosure sales
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Where do you get that data? Please post the site and information... Thanks |
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12-05-2008, 10:59 AM
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It's just a name...
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Join Date: Jul 2006
Location: Metrowest, MA
1,790 posts, read 2,716,093 times
Reputation: 418
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Quote:
Originally Posted by clevedark
Well, I'm familiar with the Brookline market (it's one of my hobbies) and nothing is selling unless it's a very very very good buy. That means you look at the price and the property and go OH MY GOD I'd better put a bid in now before someone else steals it from me.
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and... which ones are they? Can you help quantify "very very very" in terms of some percentages?
Based on the asking and selling price percentage, Brookline was still over 95% last month... |
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