From RI to MA in 6 months (Boston, Taunton: lender, real estate, foreclosures)

[mrsmcneill]

Yet another moving post! We have spent the last two years in Cumberland, RI, saving up for a dp on a house while I stayed home with young children. Hubz works in Boston, and has been taking the Attleboro line to South Station.
We're close enough to a dp and want to take advantage of the winter season and the buyers' market to make a move to a house in the next six months or so. Our budget is tight, 250K, and we, like everyone else on this board, would like a good school system (full day kindergarten?) and rail service, along with a neighborhood feel (sidewalks, bike paths?)

I'm researching Attleboro, Franklin, Lakeville, any other thoughts?

[CaseyB]

To be honest, I'm sorry, I don't think you would be able to buy in those places at that price range. Maybe Attleboro, but I don't know what kind of neighborhood and the schools aren't good there anyway. You'd be better off staying in Cumberland than moving there, imo.

[MovingForward]

Unfortunately, I have to agree with Casey. When we set off to buy our first house in the Boston area 5-1/2 years ago, we agreed beforehand that we wouldn't spend more than $250,000. Right. We ended up buying a house for $352,000: 1200 sqft, vinyl-sided, needs new kitchen and new (tiny) bathroom, etc. Very good neighborhood with top-notch schools, but we "lucked out." Today, although the market has dropped, it will be very difficult--if not impossible--to find a family house for $250,000. Even 2 hours outside of Boston, further West, this would be difficult.

[MovingForward]

I've done some looking on craigslist for south and west of Boston--not a whole lot available for that price. Have you considered purchasing a two-family, instead? That might allow you to get into a better neighborhood closer to Boston, and then you can move up to a single a few years down the road, once the market picks up again. Our neighbors did that.

Here are some listings of single-family homes I found in central Mass and south/coast, between $250,000-300,000:

Showing Sat. & Sun. 3 Bedroom Colonial (or rent with option possibile) (broken link)

Beautiful Brick Colonial (broken link)

TeamVedoe Ma Remax Real Estate Home, Land Property

OPEN ON 8/19 THIS SUNDAY 230 TO 400 ~ PICTURE PERFECT ! (broken link)

OPEN ON 8/19 THIS SUNDAY 230 TO 400 ~ PICTURE PERFECT ! (broken link)

PRICE REDUCED (broken link) (train station here; you could add-on later)

[mrsmcneill]

I agree with some of what's been said, but I do think that if the market continues to tank, we will be able to find a 3-bed in our price range in a town that has good schools. Is that so crazy?

I think most of the towns I mentioned are too pricey ... Kingston maybe or Taunton? What of those schools?

[CaseyB]

Kingston might be worth looking into, especially if you could find something for sale by owner. I don't know much about the schools there except that the middle and senior high is Silver Lake Regional, which seems to be so-so. The elementary school is small and probably okay. Kingston is starting to boom now.
Taunton: no. Maybe look into West Bridgewater?

[MovingForward]

With good schools, I really don't think so--unless you're willing to purchase a condo.

[pjscdn]

I'd suggest keeping your eye on the foreclosures, and hope to land something in your price range. I had a friend who waited patiently for several months before landing a place about 20 miles outside town. There's some risk involved with this process, but it sounds like you're not in a rush.

How far outside Boston is tolerable? Places like Kingston and Taunton, for instance, are not much better than Cumberland commuter-wise.

[surfingatwork]

Originally Posted by mrsmcneill

Yet another moving post! We have spent the last two years in Cumberland, RI, saving up for a dp on a house while I stayed home with young children. Hubz works in Boston, and has been taking the Attleboro line to South Station.
We're close enough to a dp and want to take advantage of the winter season and the buyers' market to make a move to a house in the next six months or so. Our budget is tight, 250K, and we, like everyone else on this board, would like a good school system (full day kindergarten?) and rail service, along with a neighborhood feel (sidewalks, bike paths?)

I'm researching Attleboro, Franklin, Lakeville, any other thoughts?

I live in Lakeville and while you do have a tight budget you can buy a home here for $250K. Keep in mind it's not going to be in perfect condition and it will need to be updated (older kitchen, wallpaper, no garage, etc.) and it's not going to be large. as for sidewalks you won't that in lakeville and the majority of the side roads do not have street lights and we only have 2 traffice lights. what you get in return though is a quiet little town, with very little crime. My neighborhood does not have sidewalks and the neighborhood kids ride their bikes all the time on the weekends. we just don't have a lot of traffic in town. You'll find the bulk of homes in Clark Shores will be in your price range and a few homes scattered throughout lakeville. i don't know much about the school system because I don't have children.

here are three homes in lakeville that are in your price range.
REALTOR.com: Find a Home - Listing Detail

REALTOR.com: Find a Home - Listing Detail

REALTOR.com: Find a Home - Listing Detail

good luck with your search.

[Valerie C]

I wish I could offer to help in your search, but although I'm licensed in Mass. and New Hampshire, I don't have personal knowledge of the areas that you're considering.

What I would recommend is hooking up with a real estate agent who does know specifics of the areas, and will keep you informed/updated on a regular on available homes in the area(s) you want to be in. By contacting the Seller's agent directly, you do lose much of your negotiating power (but the Seller's agent will love not having to share his or her commission with another agent!) A Buyer's agent will work for YOU, attend the home inspection, negotiate HI items, work with the lender, monitor the closing process. You are entitled to have a Buyer's Agent work for you--It's the best free service available!!