House search: Opinions (New Bedford, Newton, Framingham: buyers, luxury, new construction)

[arun_junta]

Originally Posted by sharencare

Well, not a subprime crisis because that's a very specific kind loan that often comes with predatory lending that is now being cracked down on.

Well, IMHO the fed is doing a dis-service by keeping interest rates artificially low that its encouraging investor-buying rather than actual home buyers.

Originally Posted by sharencare

But I think this spring, people are trying to lock down those historically low interest rates, which means they can theoretically take out a larger mortgage if they qualify. But the inventories for houses in general for some desirable towns are still relatively low. So you get potentially hot seller's markets.

Can't agree more but its so frustrating. On the other hand, I would have loved to be a seller in this market.

Originally Posted by sharencare

All those towns are long commutes to New Bedford. I think Natick will get you the most bang for your buck and you'll have plenty of money in the piggybank to spare.

I agree natick probably would give us most bang for the buck but its really-really hot. Houses are going off-the shelf in a day or two. Even the one's which would 've probably sat around for a while otherwise is off the market in about 2-3 weeks.

[arun_junta]

Originally Posted by MikePRU

Westwood has a parks & recreation department like most towns in the area. So, there are activities to be had. However, Westwood is mostly a town filled with homes. There's really no town center and limited shopping/restaurants in town. I find kids (especially teenagers) like to "hang out" at malls, shopping centers, and fast casual restaurants. Legacy Place is right over the town line in Dedham and you'll likely find yourself dropping off teenagers there regularly if you have any.

There is a development in Westwood which should be restarting construction soon called "University Station" and it should bring a lot more shops/restaurants to town. I'm sure it will be littered with teens the moment it opens its doors.

Having commercial property in town is very much a plus not only for the entertainment value it often adds (or covenience if you happen to work in an office building in town) but commercial real estate in most MA towns is taxed at a higher rate than residential real estate. More tax revenue from commercial real estate means your taxes stay lower without a decline in services.

I do agree about commercial property taxes bringing in more revenue to the town but doesn't it also bring down the quality of life value (traffic issues, crime, pollution) for the town.

[BuyWithHeather]

Seems like you're overlooking Framingham. We live right on the Natick line and got great value for the money... when we bought the house in Spring 2009, the market was very similar (was on the way down vs. the way up, but in that particular time frame, conditions, prices and interest rates were similar). Your wife could zip right down Route 9 to get to 495, and you would have a bunch of options for getting to Bedford beyond the Pike/128. It's the biggest town in the country, and there are at least a dozen distinct parts of Framingham--each with its own character. Worth a look.

[Parsec]

Originally Posted by arun_junta

I agree natick probably would give us most bang for the buck but its really-really hot. Houses are going off-the shelf in a day or two. Even the one's which would 've probably sat around for a while otherwise is off the market in about 2-3 weeks.

I agree. I love Natick and would love to purchase a bigger house here, but everything is flying off the market - even overpriced homes in need of work. In my price range I can actually find a nicer and bigger house in Sudbury, which is very surprising because Sudbury has always been more expensive since the beginning of time! I wonder if the tide is turning and Natick will be viewed as more than just a "nice town" and be on-par with its more wealthy neighbors within the next decade.

[arun_junta]

Originally Posted by Parsec

I agree. I love Natick and would love to purchase a bigger house here, but everything is flying off the market - even overpriced homes in need of work. In my price range I can actually find a nicer and bigger house in Sudbury, which is very surprising because Sudbury has always been more expensive since the beginning of time! I wonder if the tide is turning and Natick will be viewed as more than just a "nice town" and be on-par with its more wealthy neighbors within the next decade.

I'm on the fence when it comes to the statement "whether Natick will be viewed as more than just a "nice town" and be on-par with its more wealthy neighbors". I see south natick with more of its sprawling lot size becoming like needham, wellesley or dover but I've serious doubts about Natick facing towards framingham, the mall area or on the train line.

[arun_junta]

Originally Posted by BuyWithHeather

Seems like you're overlooking Framingham. We live right on the Natick line and got great value for the money... when we bought the house in Spring 2009, the market was very similar (was on the way down vs. the way up, but in that particular time frame, conditions, prices and interest rates were similar). Your wife could zip right down Route 9 to get to 495, and you would have a bunch of options for getting to Bedford beyond the Pike/128. It's the biggest town in the country, and there are at least a dozen distinct parts of Framingham--each with its own character. Worth a look.

Heather, thanks for the suggestion but we are not convinced that framingham can offer us in terms of what we are looking for in a house/town.

[BuyWithHeather]

Sure thing. Going a little further south on 495 offers some nice towns, too. The 3 H towns, Hopkinton, Holliston and Hopedale, might be worth consideration.

[MikePRU]

Originally Posted by Parsec

I agree. I love Natick and would love to purchase a bigger house here, but everything is flying off the market - even overpriced homes in need of work. In my price range I can actually find a nicer and bigger house in Sudbury, which is very surprising because Sudbury has always been more expensive since the beginning of time! I wonder if the tide is turning and Natick will be viewed as more than just a "nice town" and be on-par with its more wealthy neighbors within the next decade.

Originally Posted by arun_junta

I'm on the fence when it comes to the statement "whether Natick will be viewed as more than just a "nice town" and be on-par with its more wealthy neighbors". I see south natick with more of its sprawling lot size becoming like needham, wellesley or dover but I've serious doubts about Natick facing towards framingham, the mall area or on the train line.

My feeling is that Natick is definitely "coming up in the world" so to speak. I don't know that it will be viewed on par with places like Needham, Newton, Dover, or Wellesley anytime soon though. I definitely feel the gap will shrink over time and the distance between Natick and some of its lesser neighbors will increase in the eyes of real estate buyers. I also feel that Needham is not viewed as being on the same level by many as Newton or Dover but the gap between these towns has shrunk TREMENDOUSLY in the last 20 years or so.

It's hard to put Dover in this conversation though. People who shop Needham and Newton rarely cross shop Dover as well. The rural feel of the town doesn't appeal to people who are looking in Needham and Newton which are much more developed and dense.

[MikePRU]

Originally Posted by arun_junta

I do agree about commercial property taxes bringing in more revenue to the town but doesn't it also bring down the quality of life value (traffic issues, crime, pollution) for the town.

I wouldn't say that. Take a look at Newton. It's one of the safest cities in the country. People are selling their first born to buy a house in Newton. Take a look at Needham. We have a wonderful town center and a large office park tucked between the Newton border and RT 128 which is undergoing a major revitalization. I know plenty of people who live here and don't ever lock their front door or their cars when they're in their driveway. You probably saw my thread where a C-D competitor ranked it the 16th safest place to live in the country. Look at Wellesley. Again, large office park (right off of RT 9 near the RT 128 on ramp) with an even larger and more wonderful town center. I'm not talking about factories spewing smoke into the air. I'm talking about office buildings and shops & restaurants.

[scorpio516]

Originally Posted by 495neighbor

Wouldn't that be a monster commute to Bedford?

It would be, but it would cut the commute to New Bedford quite a bit