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Old 03-07-2011, 02:27 PM
 
Location: Newton, MA
324 posts, read 559,859 times
Reputation: 259

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Anyone want to commiserate about the state of our "declining" market. If this is declining, then I can't imagine what it was like back in 2005! It's crazy out there. We went to a few open houses this weekend, and there were tons of people, and not just looky-loos either.

We were looking in Lexington and Newton, and I know those are popular places, but wow.

It seems that if you're willing to do a whole house remodel, then you are in luck. But if you have a 3 year old, full time jobs, and are currently trapped in a too-small condo (ahem....like we are), you don't exactly want to spend a year gutting a 750K 3 bedroom house.

I know, this is a pointless vent. Anyone want to join in???
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Old 03-07-2011, 02:53 PM
 
925 posts, read 1,459,204 times
Reputation: 382
Well, there are a few issues. a) prices in Newton & Lexington - can't help you there. They're out of sight. ;-> b) inventory. The inventory was pretty low this past winter and we definitely encountered a bit of market craziness (bidding wars in the dead of winter if you can believe that!) & it was tough on buyers who had a limited time to find the right place. My advice is take your time to find the right place. We're already seeing quite a few homes come on the market in the past week & there surely will be more to pick from in March & April. Or you could consider other nearby towns with similar characteristics but not as out of sight prices. Just a thought.
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Old 03-07-2011, 03:23 PM
 
1,595 posts, read 2,594,674 times
Reputation: 1299
It's funny you posted this. Over the weekend I got a flyer in the mail from a local real estate agent that showed recent activity in the area and claiming there was "interest" in our subdivision. I haven't seen one of those in quite some time. Come to find out, a lot sold, 2 new houses are currently being built and when I drove by an Open House at a home that has been on the market FOREVER, there were a number of cars in the driveway. Another neighbor was in a bidding war with someone in another part of town and they won the war and sold their house....to the person they were in the bidding war for the other house. So yes, it does look like there is some movement in real estate even though mortgage rates are higher than they were just a few months ago. Spring fever I guess! Good luck with your hunting!
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