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Old 05-27-2009, 09:15 AM
 
Location: New England & The Maritimes
2,116 posts, read 4,071,535 times
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Best Places To Live - Bostonmagazine.com - Best Places to Live - Boston Magazine (http://www.bostonmagazine.com/home_real_estate/best_places_to_live/index.html - broken link)
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Old 05-27-2009, 09:19 AM
 
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So, what do you think?
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Old 05-27-2009, 09:43 AM
 
Location: Boston
7,373 posts, read 15,340,917 times
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I think we've seen this before, but this is the most complete link. I wish they would create a database and keep it up to date as the 2008 data is really out of date given how much the real estate market has fluctuated.

Anyway, it's nice to have this info, but in some ways it seemed skewed. For example, in the "Case Study" section, the magazine looked at "North Shore 4 Bedrooms." It looked at a house that sold in 2005 in Wenham for nearly 30% more than a similarly sized home that sold in Hamilton in 2008. Now, the numbers look similar when compared, but look at the houses. The house in Wenham (2005) is a historic home (apparently well-kept) with a nice yard; while the Hamilton home (sold 2008) seems to be newer, but not brand new and on a smaller lot. Furthermore, a quick "google mapping" of both addresses shows that the house that sold in Wenham in 2005 abuts woodland and is within walking distance of a lake. The house that sold in Hamilton in 2008 for less than the Wenham home is in the middle of a suburban neighborhood. While I'm sure the recession played into the sale prices of these homes to a degree, it's hardly the only factor. I would expect a well-kept historic home abutting acres of undeveloped woods and within walking distance to a nice lake to sell for more than a newer (but not brand new) similarly sized home in a typical suburban neighborhood in any economic situation.

I think many of the results in the article are victims of the same circumstance. I would argue that good points were made (i.e. stable employment by universities and successful industries in Cambridge will keep housing costs more stable), but many were only so-so. However, if I were looking to buy right now, anything helps and this info is certainly useful.
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