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Old 05-02-2021, 01:35 PM
 
1,746 posts, read 1,229,982 times
Reputation: 510

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https://www.redfin.com/MA/Boston/290.../home/12271172

How about this one - 440k for a zero next door to the Back Bay T stop. That's asking a lot for such a tiny place, even being an amazing commuting location.
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Old 05-02-2021, 03:03 PM
 
Location: Boston
2,182 posts, read 953,451 times
Reputation: 1879
Quote:
Originally Posted by yesmaybe View Post
https://www.redfin.com/MA/Boston/290.../home/12271172

How about this one - 440k for a zero next door to the Back Bay T stop. That's asking a lot for such a tiny place, even being an amazing commuting location.
In the ballpark for that neighborhood. I'm a few blocks from there and going rate in that area is around $1,200/square foot, but I would also believe prices have gone up since last year. That said, I'd have set that unit around $400-$420k and will be mildly surprised (and pleased, really) if it goes for $440k or higher.
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Old 05-02-2021, 04:26 PM
 
8,591 posts, read 5,534,397 times
Reputation: 9900
Quote:
Originally Posted by id77 View Post
In the ballpark for that neighborhood. I'm a few blocks from there and going rate in that area is around $1,200/square foot, but I would also believe prices have gone up since last year. That said, I'd have set that unit around $400-$420k and will be mildly surprised (and pleased, really) if it goes for $440k or higher.
They just dropped the price by $10K. I do like the little outdoor space but I'd probably try to screen it a bit for more privacy. I wonder what's going to happen with the empty lot next door?
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Old 05-02-2021, 04:41 PM
Status: "City Planner looking to bring TOD to you" (set 27 days ago)
 
Location: North Jersey & Central Connecticut
10,388 posts, read 5,579,677 times
Reputation: 8636
Quote:
Originally Posted by yesmaybe View Post
https://www.redfin.com/MA/Boston/290.../home/12271172

How about this one - 440k for a zero next door to the Back Bay T stop. That's asking a lot for such a tiny place, even being an amazing commuting location.
Dang. I wouldnt even pay 200k for that
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Old 05-02-2021, 04:47 PM
 
Location: Boston
2,182 posts, read 953,451 times
Reputation: 1879
Quote:
Originally Posted by robr2 View Post
They just dropped the price by $10K. I do like the little outdoor space but I'd probably try to screen it a bit for more privacy. I wonder what's going to happen with the empty lot next door?
I don’t imagine anything in the near term. It’s used as off-street parking right now so at least it’s getting use.
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Old 05-03-2021, 11:32 AM
 
586 posts, read 438,738 times
Reputation: 726
I looked into the affordable housing lottery in Cambridge about 10 years ago, it was actually pretty compelling there because the median income was high for the area. I had my entry-intermediate white collar job at the time and I actually qualified.
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Old 05-03-2021, 11:50 AM
 
3,808 posts, read 2,762,095 times
Reputation: 3330
Fed shows no signs of slowing buying or raising rates, so it seems buyers are in for continued pain as Covid concerns ease and optimism runs unchecked.

Initial spring listings in my area (‘boroughs through 190) were more or less flat, but now that the closing prices are public it’s become clear that 60-100k+ over asking is common for any listing which has tangible value/desirability (e.g., good access, architectural compelling, pristine condition, etc.). The lower end is trading more or less flat YoY, but the properties are absolute dogs (e.g., on main road, deferred maintenance, <1500sqft).

I truly feel bad for Millenial peers who thought they were in a good position to buy heading into Covid and our now dealing with the resultant valuation lift of low rates and an inventory squeeze.
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Old 05-03-2021, 12:24 PM
 
7,750 posts, read 6,993,559 times
Reputation: 3959
In 2015 this was for sale for $98k
In 2016 it gradually dropped to $40K
In 2019 it tried for $212K
Now it's contingent at $250K

https://www.zillow.com/homedetails/1...56231180_zpid/

It was a flip it was a hell of a flip. That's 2.5 times the price they were looking for six years ago.

same story 130K to 120K to 200K
https://www.zillow.com/homedetails/8...56234407_zpid/

70K to 80K to 170K. again more than double in six years
https://www.zillow.com/homedetails/4...56213074_zpid/

110 to 240K in four years again doubling
https://www.zillow.com/homedetails/3...56212140_zpid/

215-270K in three years
https://www.zillow.com/homedetails/1...56232091_zpid/

welcome to inflation folks
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Old 05-03-2021, 12:30 PM
 
8,591 posts, read 5,534,397 times
Reputation: 9900
Quote:
Originally Posted by BrahminShudrawitz View Post
In the basement, no less.
Hey - that's garden level....
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Old 05-04-2021, 09:45 AM
 
14,478 posts, read 17,673,499 times
Reputation: 19403
I realize the market is crazy right now, but i think this guy is a little bit optimistic.

(read through the description. It's gold!)


https://www.zillow.com/homedetails/2...56911177_zpid/
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