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Old 07-08-2021, 05:37 PM
 
16,412 posts, read 8,198,277 times
Reputation: 11403

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I saw a house not too far for me that needed some updates listed for 750k. I was really curious to know what it would sell for and it took months for it to go through. It sold for 865k. I used to think it was crazy to see people go 20k over asking. People are just continuing to come up with the money though...
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Old 07-16-2021, 04:39 AM
 
2,353 posts, read 1,780,522 times
Reputation: 700
https://www.redfin.com/MA/Somerville...5/home/8757764

How about this one, a smallish one bedroom in Somerville for 400k. 400k's a lot to ask for a place that doesn't look like it would work for more than one person. Plus the location it's in doesn't look all that convenient to the subway. Close to Assembly but might be tough to get there on foot.
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Old 07-16-2021, 05:47 AM
 
9,882 posts, read 7,212,572 times
Reputation: 11472
Quote:
Originally Posted by yesmaybe View Post
https://www.redfin.com/MA/Somerville...5/home/8757764

How about this one, a smallish one bedroom in Somerville for 400k. 400k's a lot to ask for a place that doesn't look like it would work for more than one person. Plus the location it's in doesn't look all that convenient to the subway. Close to Assembly but might be tough to get there on foot.
Bus line on Mystic Ave. is 1 block away and the ride to Sullivan Station is about 5 minutes.
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Old 07-16-2021, 06:49 AM
 
432 posts, read 414,985 times
Reputation: 810
120 families evicted in Ayer - yikes!

https://www.lowellsun.com/2021/07/16...ver-evictions/
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Old 07-16-2021, 07:13 AM
 
2,353 posts, read 1,780,522 times
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Quote:
Originally Posted by brk330 View Post
120 families evicted in Ayer - yikes!

https://www.lowellsun.com/2021/07/16...ver-evictions/
Doesn't seem like it's about nonpayment either but reno is a typical tactic to get renter turnover.
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Old 07-16-2021, 07:25 AM
 
Location: The Moon
1,717 posts, read 1,807,780 times
Reputation: 1919
If they are tenants at will they are probably screwed. For people not familiar with the neighborhood this will have a huge impact on low income families in town. Improvements to the units are definitely needed so it is a really tough situation.
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Old 07-16-2021, 07:59 AM
 
2,279 posts, read 1,342,142 times
Reputation: 1576
Quote:
Originally Posted by yesmaybe View Post
https://www.redfin.com/MA/Somerville...5/home/8757764

How about this one, a smallish one bedroom in Somerville for 400k. 400k's a lot to ask for a place that doesn't look like it would work for more than one person. Plus the location it's in doesn't look all that convenient to the subway. Close to Assembly but might be tough to get there on foot.
Buyer was not able to finance, maybe the mortgage broker was like "yeah no, we are not giving you that much for that place".
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Old 07-16-2021, 08:06 AM
 
24,559 posts, read 18,259,472 times
Reputation: 40260
Quote:
Originally Posted by yesmaybe View Post
Doesn't seem like it's about nonpayment either but reno is a typical tactic to get renter turnover.
With Massachusetts tenant law, it will take at least 6 months to get them out. I’m sure some of the tenants can’t legally be evicted at all since you can’t toss disabled people out on the street. I would assume the new owners are going to have to offer a bunch of cash to get some of the tenants out.
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Old 07-16-2021, 08:14 AM
 
3,808 posts, read 3,139,335 times
Reputation: 3333
Quote:
Originally Posted by brk330 View Post
120 families evicted in Ayer - yikes!

https://www.lowellsun.com/2021/07/16...ver-evictions/
1800-2100/mo for that section of Ayer? No thanks. With current lending rates, that's a condo within the 495 belt (albeit barely) with 3% down and avg credit.

James Baldwin wasn't wrong when he stated "Anyone who has ever struggled with poverty knows how extremely expensive it is to be poor."

Last edited by Shrewsburried; 07-16-2021 at 08:47 AM..
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Old 07-16-2021, 08:32 AM
 
9,096 posts, read 6,317,546 times
Reputation: 12329
Quote:
Originally Posted by yesmaybe View Post
https://www.redfin.com/MA/Somerville...5/home/8757764

How about this one, a smallish one bedroom in Somerville for 400k. 400k's a lot to ask for a place that doesn't look like it would work for more than one person. Plus the location it's in doesn't look all that convenient to the subway. Close to Assembly but might be tough to get there on foot.
That unit has one very tight kitchen. Does that refrigerator door open all the way?
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