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Old 04-19-2016, 12:12 PM
 
5,792 posts, read 5,113,361 times
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Quote:
Originally Posted by xo_kizzy_xo View Post
Our friends who are currently selling their house had close to 20 inquiries the first weekend it was advertised. They had an open house the second weekend which brought out more inquiries. OTOH they've been having issues finding a place within their budget in the area where they want to live because everything, thus far, is twice as much as their house is selling for :/
That's the "other shoe"....you may make a killing selling your old house, but you'll be slaughtered trying to buy a new house. The circle of life.
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Old 04-19-2016, 12:29 PM
 
6,575 posts, read 6,746,620 times
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I was in Arlington this weekend and stopped by the hardware store Sunday to pick up some supplies for my rental property, and the women in line in front of me was a realtor & she mentioned to the salesperson, whom she knew, that a property she showed this weekend had 19 offers.....19 ! I don't know what kind of property she had, but man, that's a brutal market for buyers no matter how you cut it.

Last edited by Brave Stranger; 04-19-2016 at 01:56 PM..
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Old 04-19-2016, 12:31 PM
 
15,802 posts, read 20,532,052 times
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House right around the corner from me listed late last week for high 300's. On the low side for the area, but it was also an original 1960's era ranch in need of a lot of updating and full of shag carpet and wallpaper and wood paneling.


Stopped in at the open house to take a peek. Swamped with people pretty much. Just checked this AM and it went pending. Just crazy.
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Old 04-19-2016, 02:13 PM
 
9,889 posts, read 7,226,954 times
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Quote:
Originally Posted by BostonMike7 View Post
House right around the corner from me listed late last week for high 300's. On the low side for the area, but it was also an original 1960's era ranch in need of a lot of updating and full of shag carpet and wallpaper and wood paneling.


Stopped in at the open house to take a peek. Swamped with people pretty much. Just checked this AM and it went pending. Just crazy.
Here in Burlington, that would be a tear down. I drive around town now and see so many happening but i also mentally point out the tear down opportunities.
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Old 04-19-2016, 03:28 PM
 
Location: Needham, MA
8,545 posts, read 14,039,712 times
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Quote:
Originally Posted by Parsec View Post
Right now I'm seeing half the single family homes homes for sale in Sudbury are listed at above $1M. That's insane for a suburb with no good commuting routes to Boston! Can you pull up prior year stats for Sudbury? I'm curious if prices were this high last year because I never noticed until now. If I were in the market for a house right now, I'd just throw in the towel and move back to Atlanta.
Sudbury has 85 listings today vs. 75 a year ago on this date. Currently, 42 of the 85 are $1M and up. A year ago it was 30 of 70. So a slight shift up percentage wise of $1M+ listings in Sudbury. Probably not a significant difference although the larger inventory is likely more the story. How much of a story would depend on demand levels which I don't have time to analyze right now.

Quote:
Originally Posted by pennyone View Post
That's the "other shoe"....you may make a killing selling your old house, but you'll be slaughtered trying to buy a new house. The circle of life.
I've been chatting with XO about the friends mentioned in the earlier post and one important detail left out of the original post about them is that they are moving to a more sought-after town then where they sold. Whenever you do this there's bound to be a gap between what you're selling and what you're buying. It's exacerbated in a hot real estate market like this though.
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Old 04-19-2016, 06:42 PM
 
38 posts, read 51,261 times
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Quote:
Originally Posted by Parsec View Post
Right now I'm seeing half the single family homes homes for sale in Sudbury are listed at above $1M. That's insane for a suburb with no good commuting routes to Boston! Can you pull up prior year stats for Sudbury? I'm curious if prices were this high last year because I never noticed until now. If I were in the market for a house right now, I'd just throw in the towel and move back to Atlanta.
The town is hot. I know someone selling under $700k and they got multiple offers above asking and waiving home inspection after 2 days on the market.
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Old 04-19-2016, 07:46 PM
 
21 posts, read 33,201 times
Reputation: 36
This is brutal. I thought last year was bad enough! If only I bought a house in 2012...
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Old 04-20-2016, 03:15 AM
 
Location: Homeless
404 posts, read 527,240 times
Reputation: 392
Houses in reading 500k to 700k bracket are routinely going 30k- 70k over ask and gone in 5 days. We gave up & bought in andover
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Old 04-20-2016, 05:22 AM
 
Location: Needham, MA
8,545 posts, read 14,039,712 times
Reputation: 7944
Quote:
Originally Posted by Nanotube View Post
This is brutal. I thought last year was bad enough! If only I bought a house in 2012...
I bought my house in 2012 and all I can think is I wish I had bought earlier.
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Old 04-20-2016, 07:13 AM
 
Location: Cape Cod
24,502 posts, read 17,255,259 times
Reputation: 35800
The word on the Cape is that volume is down slightly but prices are up compared to last year.

My wife and I work in Real Estate and we have always said if a house is standing tall and priced right it will sell quickly. People love move in ready.
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