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Old 05-01-2014, 09:57 PM
 
Location: Needham, MA
8,523 posts, read 13,894,869 times
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Quote:
Originally Posted by 3cents View Post
So we all know that the $650K range is super competitive (we even had a recent discussion on why this is the threshold for many buyers).

I'm just curious. What about the $900K to $1 million? How many offers does a house at that price range usually get (think Lexington, Winchester, Concord, Needham, etc.)?
It really depends upon the house. Of course, the higher and higher the prices climb the fewer and fewer the number of people there are who can afford them. So, the likelihood of multiple offers goes down. However, I've been involved in multiple offer situations for houses priced in the multiple millions.
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Old 05-02-2014, 08:19 AM
 
Location: 42°22'55.2"N 71°24'46.8"W
4,848 posts, read 11,744,265 times
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Quote:
Originally Posted by 495neighbor View Post
It's crazy, around my area Acton, luxury freestanding townhouses with only 2 BR are selling all over the place for anywhere from $550 to $750. They are selling pre-build. i could understand if they were at least 3 BR, but 2 BR. Huge square footage for only a 2BR residence, and I believe none of the newer ones are 55+, which is the usual argument. Very curious who buys a 2BR townhome at this price point.
Maybe they are targeting the same demographic (55+) but aren't putting restrictions on it? I think many towns will hand out permits for 2BR townhomes without hesitation compared to a cul-de-sac neighborhood with McMansions because the townhome complex likely puts less strain on the town's school budget.
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Old 05-02-2014, 12:21 PM
 
Location: Winchester
229 posts, read 382,300 times
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On the topic of multi-million houses, some of these properties have open houses. Do you, when you know you can't afford that kind of cash or when you have no intention of buying, actually go to these open houses? I would imagine that only a few people would actually turn up at these open houses.
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Old 05-02-2014, 02:16 PM
 
4,059 posts, read 5,584,472 times
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Quote:
Originally Posted by 3cents View Post
Do you, when you know you can't afford that kind of cash or when you have no intention of buying, actually go to these open houses? I would imagine that only a few people would actually turn up at these open houses.
I wouldn't go to something entirely out of the realm of possibility, but something aspirational I might. For example, if my market were 350k, I'd go look at 450k homes just for the sake of comparison. Perhaps the extra space would allow me to take in a renter, or hold better resale value, etc.
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Old 05-02-2014, 06:17 PM
 
Location: Massachusetts
6,301 posts, read 9,579,348 times
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Quote:
Originally Posted by Parsec View Post
Maybe they are targeting the same demographic (55+) but aren't putting restrictions on it? I think many towns will hand out permits for 2BR townhomes without hesitation compared to a cul-de-sac neighborhood with McMansions because the townhome complex likely puts less strain on the town's school budget.
Interesting point Parsec. The environmentalist in me would rather see four people rather than two or three people in these dwellings, if good farmland and trees are going to be knocked down anyhow.
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Old 05-02-2014, 07:23 PM
 
Location: Needham, MA
8,523 posts, read 13,894,869 times
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Quote:
Originally Posted by 3cents View Post
On the topic of multi-million houses, some of these properties have open houses. Do you, when you know you can't afford that kind of cash or when you have no intention of buying, actually go to these open houses? I would imagine that only a few people would actually turn up at these open houses.
I don't have any intention of buying any of the houses I see at open houses.
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Old 05-02-2014, 08:09 PM
 
Location: Westwood, MA
5,037 posts, read 6,866,128 times
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In Westwood I've noticed very few houses I'm the more affordable neighborhoods (i.e. Islington) but it seems like every other house on Clapboardtree Street (i.e. Expensive part of town) was for sale. I wonder if this is just coincidence or reflective of a general trend.
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Old 05-02-2014, 09:40 PM
 
Location: Massachusetts
6,301 posts, read 9,579,348 times
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Quote:
Originally Posted by jayrandom View Post
In Westwood I've noticed very few houses I'm the more affordable neighborhoods (i.e. Islington) but it seems like every other house on Clapboardtree Street (i.e. Expensive part of town) was for sale. I wonder if this is just coincidence or reflective of a general trend.
Is that not the street with the mental hospital?
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Old 05-02-2014, 09:55 PM
 
Location: Westwood, MA
5,037 posts, read 6,866,128 times
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Quote:
Originally Posted by 495neighbor View Post
Is that not the street with the mental hospital?
Same street, but the big fancy houses are across town, between Nahatan and 1A.
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Old 05-02-2014, 11:20 PM
 
Location: Columbia SC
14,188 posts, read 14,539,139 times
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Quote:
Originally Posted by Parsec View Post
Maybe they are targeting the same demographic (55+) but aren't putting restrictions on it? I think many towns will hand out permits for 2BR townhomes without hesitation compared to a cul-de-sac neighborhood with McMansions because the townhome complex likely puts less strain on the town's school budget.
One reason many towns quickly permit 55+ developments is they do not put children in the school system but still pay real estate taxes. No school busses plugging up traffic in 55+ developments. They just have to be warned that Depends plug up sewage lines really fast.
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