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Old 05-12-2023, 08:07 AM
 
3,626 posts, read 1,844,995 times
Reputation: 1512

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Quote:
Originally Posted by MikePRU View Post
You all focus way too much on how much the house sells for over the asking price. If you price a house worth $1M at $1 and it goes $999,999 over the asking price is that really all that amazing? The list price is just a number an agent used to get you in the door and make an offer.



How do you know that people with 5500 sq ft houses are not doing the same?



I had a client once that bought a 4500 sq ft home for himself. He needed space for when his kids would visit. He wanted things like entertaining space, a home gym, a billiard room, and a wine cellar. Clearly, he didn't use every room every day but he used all of his house.
In my post I said most folks aren't going to need or use the space in a 5500 sq ft house. Of course there are exceptions to everything. It could be a person trying to keep up w/the Jones and the thing ends up having furniture in only 1 or 2 rooms. I've seen plenty of those...big houses with hardly any furnishings in many of the rooms. On the flip side, it could be a multi generational Indian family that has 8 people living under that roof.
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Old 05-12-2023, 08:32 AM
 
86 posts, read 46,507 times
Reputation: 76
Quote:
Originally Posted by matrix5k View Post
This finally sold last month. Listed for 1.9mil in March 22, sold for 1.45mil in April 23.
I think I visited this one and many similar ones in Burlington several months ago. It was definitely within my budget, but after staying in Burlington a day and visiting 8 of these houses, I noped out of there permanently. I like McMansions (within reason), and some of them looked pretty good inside and out. But I couldn't fathom investing that much money to burry myself so far away from the action in Boston.

With this budget it's just not very appealing to be the one big expensive house in the middle of all these decrepit ranches that look like they belong in a trailer park (seen the same in Natick, Framingham, etc.). A buyer could always hope that new developments happen around these houses, but IMO things are going to slow down in these parts, and we may have to wait another 10 years for the next boom in Burlington. It will be decades for all the ranches to be redeveloped and this house not to feel out of place.

Builders have been desperate to offload these houses (their agents told me they were motivated), they didn't anticipate when the bubble would burst. And it has definitely burst in these far-away towns. Not sure it will, close to Boston.
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Old 05-12-2023, 08:41 AM
 
9,096 posts, read 6,321,431 times
Reputation: 12329
Quote:
Originally Posted by blueniteflower View Post
People want bigger because they need more space for home offices, their kids will likely live them well into adulthood and want more bathrooms, aging parents who don't need specialized care can live at home for longer, roommates to help with mortgage payments, and more. Not everyone getting these homes are small nuclear families of 2 adults, 1-2 kids.
With current immigration and demographic trends in the United States, I would not be the least bit surprised if multigenerational and extended family households become the most typical form of living arrangement.

Quote:
Originally Posted by MikePRU View Post
I had a client once that bought a 4500 sq ft home for himself. He needed space for when his kids would visit. He wanted things like entertaining space, a home gym, a billiard room, and a wine cellar. Clearly, he didn't use every room every day but he used all of his house.
As a single homeowner like your example, I would require at a bare minimum, 1200 to 1500 square feet of living space to be comfortable and that does not include garage, porches and storage space. To include those elements would bring total square footage to 2000 to 2500 total square feet. My current home is about 3300 square feet for the living area and garage/storage spaces.

Quote:
Originally Posted by BostonMike7 View Post
I just want a 4500 sf garage. That would make me happy.
I love having a garage.
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Old 05-12-2023, 08:43 AM
 
86 posts, read 46,507 times
Reputation: 76
Quote:
Originally Posted by msRB311 View Post
I guess I have to wonder WHY is there so much redevelopment happening. This just doens't seem inline with many of our environmental initiatives lol. People are all about recycling their trash but have no qualms about tearing down a house or a forest to build a new one.

Please don't make excuses for this...we are not going in a good direction with some of this crap.
It's all virtue signaling. There is what people say and there is what people do.

It's like when you feigned being worried about other folks being priced out of the region. But we all know you'd still sell your house to the higher bidder cash investor with 0 contingencies over the family trying to buy their first home with a mortgage.

Nothing wrong with that in my book, but the virtue signaling is what gets me.
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Old 05-12-2023, 08:49 AM
 
86 posts, read 46,507 times
Reputation: 76
Quote:
Originally Posted by newenglandgal123 View Post
We've got another $300K over lister....this one in Natick. I guess $300K over list is the new norm?! https://www.zillow.com/homedetails/2...56534513_zpid/
How is this only 3,000 sq ft, it looks massive.
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Old 05-12-2023, 09:52 AM
 
3,626 posts, read 1,844,995 times
Reputation: 1512
Quote:
Originally Posted by ca1337 View Post
How is this only 3,000 sq ft, it looks massive.
It does...I actually really like the inside and the layout. However, not crazy about how it looks from the exterior.
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Old 05-12-2023, 09:59 AM
 
Location: North of Boston
3,689 posts, read 7,432,032 times
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Quote:
Originally Posted by ca1337 View Post

...it has definitely burst in these far-away towns.

Burlington is far-away? First time I have heard that.
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Old 05-12-2023, 12:10 PM
 
2,710 posts, read 1,736,446 times
Reputation: 1319
Quote:
Originally Posted by MikePRU View Post
You all focus way too much on how much the house sells for over the asking price. If you price a house worth $1M at $1 and it goes $999,999 over the asking price is that really all that amazing? The list price is just a number an agent used to get you in the door and make an offer.



How do you know that people with 5500 sq ft houses are not doing the same?
Oh she knows everything. She knows how much people put down on every house and knows if they spent too much on it. She knows if they'll be in for a big ouch! if one of them loses their job. And if you disagree with any of her opinions then you are wrong. Everyone else is wasteful but she is not. Her neighbors are nosy but she is not.
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Old 05-12-2023, 01:22 PM
 
9,882 posts, read 7,212,572 times
Reputation: 11472
Quote:
Originally Posted by gf2020 View Post
Burlington is far-away? First time I have heard that.
I had to go to Brookline today - it can feel far away from here in Burlington.
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Old 05-12-2023, 01:37 PM
 
15,799 posts, read 20,513,219 times
Reputation: 20974
Quote:
Originally Posted by robr2 View Post
I had to go to Brookline today - it can feel far away from here in Burlington.
Agree. The time it takes to traverse from Boston to Burlington with traffic can make it feel very far away. I used to commute from Somerville to Burlington and even reverse flow, it was miserable at times.

Now i live on the I95 belt. Kiddo had a appointment as Mass Eye & Ear couple weeks back. It was an hour+ drive from I95 area of north of town down into Boston and then dealing with nice-weather traffic. Missed my turn and it took 20 more minutes to circle back around to find parking. Talk about misery.

Speaking of nice weather. Time to check out for the weekend.
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