Best Boston suburb for commuting to Boston University (Cambridge, Newton: real estate, apartment complexes)

[Dennick]

Originally Posted by runningman1976

Thanks we will look at Newtonville and Newton corner. We do know some other faculty from BU and Northeastern who live around there, so might be a good option although you can imagine the sticker shock we are experiencing moving from Atlanta LOL!

FYI: Newton and all its adjacent hamlets (Newton Corner, Village, Center, Waban, etc.) are now "sanctuary cities".

[robr2]

Originally Posted by bugelrex

I wonder what was wrong with "21 Fairview". it sold for 830k but has a $1M taxable assessment. Must have been some major structural issue

As noted, assessed does not always equal market value. Further, the listing described it as: "Huge price reduction! Fabulous opportunity for an end user or developer looking for a project."

I'm guessing, it needs at least $250K to bring it up to date, get rid of the probable lead paint on the outside, add insulation, et al.

[bugelrex]

Originally Posted by Dennick

FYI: Newton and all its adjacent hamlets (Newton Corner, Village, Center, Waban, etc.) are now "sanctuary cities".

These are "faux" sanctuary cities in name only. Its like saying Beverly hills is a sanctuary city... very few illegals can afford to live there anyway. They are welcome to work there for cheap labor but not to live...

[The_General]

Brookline, it's right there

[timberline742]

Originally Posted by The_General

Brookline, it's right there

The location would be perfect. Finding a place where you can fit two grand pianos... not so easy.

[BosYuppie]

Originally Posted by Dennick

FYI: Newton and all its adjacent hamlets (Newton Corner, Village, Center, Waban, etc.) are now "sanctuary cities".

First of all, who gives a crap

Second of all, the districts you named are all villages of Newton itself.

[chicagoliz]

Originally Posted by brainbree

Honestly if you really want to be in Newton you should wait it out..

So he can pay more money? Why would he wait it out? He's moving for a job. He needs to find a place to live. If he were to decide he wants Newton, waiting will only see prices go up.

Originally Posted by The_General

Brookline, it's right there

Yes, Brookline would be perfect if he had 3-4X his budget.

Originally Posted by Dennick View Post
FYI: Newton and all its adjacent hamlets (Newton Corner, Village, Center, Waban, etc.) are now "sanctuary cities".

Originally Posted by BosYuppie

First of all, who gives a crap

Second of all, the districts you named are all villages of Newton itself.

Yeah -- "adjacent hamlets???" WTF does that mean? The villages of Newton are all part of Newton (yes it's goofy but not really that difficult to understand), and Newton is a sanctuary city, as are many other cities across America. Usually that's a good indicator that it's a good place to live. Not really sure how this is directly relevant to OP, as I saw no indication that he had a particularized need to live in a city that has so designated itself as such.

[panchilly]

Originally Posted by chicagoliz

So he can pay more money? Why would he wait it out? He's moving for a job. He needs to find a place to live. If he were to decide he wants Newton, waiting will only see prices go up.

Prices in newton dropped (adjusting for inflation) from 1987 until 1995. They didn't start going up with any serious momentum until 1997. This crash had a few initial years of 10-15% declines followed by many years of nearly 0% gains. Inflation was higher during these years so a 0% gain is really a 4% loss.

The late 80s bubble in Boston was unlike the 2007 bubble. Many desirable areas of massachusetts declined during that period, Newton included.

In other words, a BU professor who got hired in 1987 would have done much better waiting it out for a bit.

[chicagoliz]

Originally Posted by panchilly

Prices in newton dropped (adjusting for inflation) from 1987 until 1995. They didn't start going up with any serious momentum until 1997. This crash had a few initial years of 10-15% declines followed by many years of nearly 0% gains. Inflation was higher during these years so a 0% gain is really a 4% loss.

The late 80s bubble in Boston was unlike the 2007 bubble. Many desirable areas of massachusetts declined during that period, Newton included.

In other words, a BU professor who got hired in 1987 would have done much better waiting it out for a bit.

Newton held firm during the recession -- prices really didn't fall, but merely held steady. Then they began to climb again. Simply as a matter of geography, Newton prices are not going to fall. I've said a hundred times -- anyplace even remotely considered commutable to Boston AND Cambridge is holding its value, at a minimum and in all likelihood going up in value. Just given it's location, it's stable. Add in the good school system, long history of desirability, and transportation infrastructure, Newton's real estate market is a very safe bet.

Ah, good old 1987. The year I graduated high school. All the things I could have done since 1987 had I had a crystal ball. Let me tell you, (as my kids are sick of hearing), things have changed A LOT since 1987.

[bugelrex]

Originally Posted by chicagoliz

Simply as a matter of geography, Newton prices are not going to fall.

This is only true if Boston & Brookline RE prices do not fall.