U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 01-24-2018, 02:07 PM
 
70 posts, read 78,535 times
Reputation: 56

Advertisements

The main house (3000sf) - the two gambrel roof sections - consists of first floor kitchen, dining area, living room, half bath, den, and sunroom/laundry. One the second floor is the master bedroom and bath, and two small bedrooms, with a den/playroom and another bath in between. The third floor has two bedrooms, half bath, and little study area. This is the section we lived in.

There was an addition (1000sf) added 20 years ago off the kitchen that is an in-law apartment consisting of one bedroom, a full bath, kitchenette/wet bar, and an open living space. It's soundproof and has it's own thermostats in each room. I used that whole apartment for my business.

The barn is finished inside on the first floor and has a bath/kitchen area. Upstairs is unfinished. Can have home business with up to 3 employees. Because of the pool you can have a full kitchen.

The buyer has to be someone who is going to make use of the various options that make it different from a 4-bedroom colonial, OR, It has to be someone with deep pockets that wants a very private but not isolated setting and can redo everything - gut it. Add central air, garage, etc. Have amazing parties/movies in the barn, connect it to the house and so on. That is what other people in my neighborhood have done - Bought a house for $1.7-1.8 and worked on it for a year before moving in.

My husband is a commercial airline pilot and wants to be away from people when he gets home so he refused to live in a cul de sac/neighborhood. And because he has a different schedule every month, with kids, it was impossible for me to work full time in Boston so the work-at-home option was perfect. The house was a perfect fit for us. I thought it might be for someone else, too, but I guess I was mistaken. I'd put a maker-space or shared office setup in the barn and use the in-law apt bed/bath for parents/guests visiting, etc. Multi-generational/work at home...

Maybe it should be marketed differently so it's easier to understand/imagine?
Reply With Quote Quick reply to this message

 
Old 01-24-2018, 02:15 PM
 
70 posts, read 78,535 times
Reputation: 56
Also, I was paying close to $1000./mo rent for an office before we bought the house so it made financial sense as well as being practical for us. The numbers just worked.

NO ONE will have their kids on a different floor. When my kids were younger their friends were terrified of the third floor! We used it mainly for reunions, big sleep overs, etc. And NO ONE wants to sleep on the first floor. Unless it's guests/grandparents, etc who love it because they don't have to do the stairs and it's very private.
Reply With Quote Quick reply to this message
 
Old 01-24-2018, 02:17 PM
 
1,528 posts, read 725,070 times
Reputation: 2062
Quote:
Originally Posted by hingham-x View Post
The oil tank is in the basement.
New septic system less than 20 years ago and it's massive - 7 bedroom. No issues with it.
Town water - perfect. Also have deeded rights to the well next door. Could add irrigation.
3 fireplaces/2 chimneys - all in perfect working order.
The barn was used for a business. Can have up to 3 employees. The was a propane heater which we removed when we bought the house. Can be added back in. The first floor is finished w bath and kitchen area to the left near the pool.
Pool is far from house. Good and bad to that. Sun all day total privacy, no leaves. Has a fence.
You can't supervise teens unless you stay out there. It's a lot of real estate to manage.
No central air. We use window units. It's actually cold in the summer. Pita putting the units in every yr.
Lawn is designed to mow in under an hour. I pay $80/wk in summer INCLUDING spring and fall clean-up and they maintain all the bushes, beds, etc. Trimming/clipping included. (Johnson Landscape/abington)

Weymouth - I thought you meant the section of Hingham that is adjacent to the super busy congested area where they meet. It's less desirable (to some/not all) because cars go fast and not safe for pets/kids.

Do you think it's overpriced at $1,349,000?

Knowing the Boston area and Hingham 'enough', I don't shudder at the price but I can't give you a good opinion. My market knowledge of Hingham was never great and it's not current. I consider 1 - 1.5m in Hingham to be the sweet spot for a family home (just my own perception/view).

i think we might have hit on a significant challenge and that could be the barn.

Why (and forgive me for making assumptions that may be wrong):

-in addition to blocking the pool from the house (perceived safety issues and awkward entertaining as previously mentioned), I'm guessing it shows very awkwardly. Most ex-offices/commercial spaces in homes do. And this one is smack in the middle of the property being between the house and pool and relatively huge (2000sf) for an outbuilding. Again guessing but it might be depressing to enter - perhaps it stays closed up, might have an odor, looks like what it was used for. Huge 'dead' space in the heart of the property.

-If the gas heater is out, it must be $electric$? Can't leave unheated or pipes are at risk and mold will form. If the buyer will leave it unused or poorly used (e.g. some vague ideas for it after doing what they want to the main house), heating 2000 sq feet even just to keep the pipes liquid and stop mold could be expensive and overall just a pain.

-Many people want home art studios, home offices, inlaw apartments, hobby areas, gyms, etc. But this space is huge. Likely it requires a lot of money to turn into a proper 'home space' and might exceed what people want in size. Perhaps 100k to make it into an inlaw apartment??? If you are aiming at people wanting a 'proper' commercial space (psychologist office, acupuncture studio, etc) then the market is very reduced, I would think.

As for the feedback on the photos and the listing in general...
You'd have to see if the problem is getting viewings or just getting offers. I understood it was more offers. This doesn't mean to say that the listing/photos are irrelevant (people see a house and go look at the photos, etc when they decide whether to offer) but it's hard to say that this is the explanation if you're getting the traffic. I agree with the comments that they should be better. However, I think someone looking for a family home in that area would likely be hooked enough to want to view it. I'm assuming it's still a very strong seller's market in the hot Boston suburbs and this price point (totally agree with MikePru) is not short of buyers.
Reply With Quote Quick reply to this message
 
Old 01-24-2018, 02:38 PM
 
1,528 posts, read 725,070 times
Reputation: 2062
Quote:
Originally Posted by MikePRU View Post
First, I'm going to guess that this is your house based on your comments and your screen name. The good news is . . . unlike the real estate agent you hired the folks on this forum have no need to pull their punches so you'll get honest answers. I'm sure you love your house and think the world of it so your agent may not want to offend you and lose the listing.

I more specialize in the Metrowest area but I've dabbled in Hingham and know it somewhat well. So keep that in mind. Here are my thoughts (having not actually stepped foot in your house) . . .

1. The marketing your agent is doing for you is lackluster. The photos which are just about the most important piece of the marketing plan and the item that basically all other marketing pieces are based off of as others have mentioned are of low quality. You should insist that your agent hire a professional photographer or you should find yourself a new agent.

2. While your house is lovely, it does not appeal to a broad range of buyers. Here's why . . .

a) I see in MLS it was built in 1825 and I noted in some of the photos low ceilings and a general antique feel. While all the other folks who post in this forum from around the country seem to think every house in New England is an antique and every New Englander desires to live in an antique that's just not the case in my experience. It's a smaller percentage of buyers who find antiques more desirable in my experience. Antique houses usually have other issues like lead paint and cast iron plumbing to deal with as well. At this price, the majority of your competition are relatively new homes.

b) You have a one car detached garage. At the $1.3M price point in Hingham, the vast majority of homes have an attached 2 to 3 car garage with direct entry into the house. Having this setup at this price point limits you to the smaller number of buyers willing to put up with this inconvenience or the smaller number of buyers willing to rebuild the garage/barn so that it's attached and/or has more spaces.

c) While your house is being marketed as a 6 bedroom house, most buyers are going to see this as a 3 bedroom house. I noted one bedroom is on the first floor and two are on the third floor. New Englanders tend to place a much higher value on bedrooms on the second floor (as long as we're not talking about a ranch style house). You have 3 bedrooms on the 2nd floor and according to the floorplan your agent had done one is very small especially for a house at this price point. So, your floorplan and number of bedrooms will limit buyers.

d) Your house is not in a neighborhood/development. I'm sure your neighbors are great and you love the location but the majority of buyers in my experience are looking for a neighborhood feel like you would get in Conservatory Park for example. You're definitely competing for buyers with houses in these neighborhoods at this price.

e) You have a pool. The majority of buyers in the Boston area see this as a negative.

I could go on and on with my list, but the bottom line is the majority of buyers will have a preference for other homes offered at this price point. So, your house is priced too high. Also, I see your listing had a 3% commission for buyer's agents. Why? You're probably the only listing in Hingham offering that much. Take that money and lower the price instead of putting it in the buyer's agent's pocket.



Buyers at this price point seem limitless in this state. Average days to offer in Hingham for a house listed between $1M and $1.5M over the last year is 39. So, that would indicate a healthy demand for homes at this price point. I would also say the hellish commute issue from Hingham to Boston is not what it once was given the much larger percentage of the work force in the are which can work some or all of the week from home and also because of the return of the commuter train service to Hingham.



I couldn't agree more with you about Hingham's desirability. It's a great town with a lot to offer especially for those who want to be near the water. However, it's not the ideal commuting location. This being said, the data I'm looking at indicates a healthy enough demand where this house if priced right could have sold. In the last year, 45 other houses priced between $1M and $1.5M sold. That's a lot of buyers who didn't find this house appealing at this price.

As someone said though, this is a unique house and there will be one buyer out there who finds it more appealing than everyone else and will be willing to pay more than the general population of buyers. However, you'll have to wait around for that person and it's impossible to say how long they will take to appear. The choice is . . . do you (and can you afford to) wait for that person or do you lower the price of the house to give it greater appeal?

I would also add moving this thread to the Massachusetts forum might net some better answers than what you would get on the national Real Estate forum.
You nailed it with the garage. I didn't even notice that (and it hasn't been THAT long since i've lived in Boston). That's money that the buyer will need to spend right away as they wont' live with that at this price point in the suburbs (Cambridge or JP types will scrape the ice). Is the 1 car garage part of the barn? It looks like that's where the kitchen is. You saw my comments on the barn 'isolating' the pool. A garage conversion would seal that fate even more I think. So it would solve two problems (too much dead space in the outbuilding and need for garage) but create a bigger problem with isolating the pool even further from the house - i.e. you no barn living space next to it. A naive family might get over the distance of the pool and the building in the way if they (probably wrongly) believe that they will use it as a family cabana type space and all be out there together.

OP...it sounds like we're picking your house apart. I love the place but trying to see it through the eyes of various types of buyers. It looks like a fabulous family home.
Reply With Quote Quick reply to this message
 
Old 01-24-2018, 02:40 PM
 
Location: Needham, MA
6,324 posts, read 9,026,282 times
Reputation: 5324
Quote:
Originally Posted by MrLinderman View Post
I think this is the most insightful point on the entire thread. Now I'm not the target market for a home like this (first time owners, no kids yet, price point about half as high) but at least in my experience, and in the experience of a lot of my peers, this is absolutely 100% true. I don't mind having one bedroom of 4 on the first floor, but 3 bedrooms on a second floor was an absolute must have non negotiable for me and my wife. It's silly and probably irrational, but as future parents, we weren't thrilled with having to either sleep downstairs from children, or have a kid on the first floor alone.
Plus, two of the bedrooms on the second floor are very small which just exacerbates the situation. The majority of buyers wants 4 bedrooms on one floor at this price point in Hingham.

Quote:
Originally Posted by MrLinderman View Post
There's definitely plenty in MA for sure, but naturally there are less people that can afford that type of house as compared to a 600k one. That coupled with all of the other particulars makes it a harder sell.
True, but there are enough buyers at this price point to make this an incredibly active segment of the market in this state.

Quote:
Originally Posted by hingham-x View Post
The main house (3000sf) - the two gambrel roof sections - consists of first floor kitchen, dining area, living room, half bath, den, and sunroom/laundry. One the second floor is the master bedroom and bath, and two small bedrooms, with a den/playroom and another bath in between. The third floor has two bedrooms, half bath, and little study area. This is the section we lived in.

There was an addition (1000sf) added 20 years ago off the kitchen that is an in-law apartment consisting of one bedroom, a full bath, kitchenette/wet bar, and an open living space. It's soundproof and has it's own thermostats in each room. I used that whole apartment for my business.

The barn is finished inside on the first floor and has a bath/kitchen area. Upstairs is unfinished. Can have home business with up to 3 employees. Because of the pool you can have a full kitchen.

The buyer has to be someone who is going to make use of the various options that make it different from a 4-bedroom colonial, OR, It has to be someone with deep pockets that wants a very private but not isolated setting and can redo everything - gut it. Add central air, garage, etc. Have amazing parties/movies in the barn, connect it to the house and so on. That is what other people in my neighborhood have done - Bought a house for $1.7-1.8 and worked on it for a year before moving in.

My husband is a commercial airline pilot and wants to be away from people when he gets home so he refused to live in a cul de sac/neighborhood. And because he has a different schedule every month, with kids, it was impossible for me to work full time in Boston so the work-at-home option was perfect. The house was a perfect fit for us. I thought it might be for someone else, too, but I guess I was mistaken. I'd put a maker-space or shared office setup in the barn and use the in-law apt bed/bath for parents/guests visiting, etc. Multi-generational/work at home...

Maybe it should be marketed differently so it's easier to understand/imagine?
It's definitely much harder to find a buyer wiling to take a 1.3 house and turn it into a 1.8 house. The population of buyers shrinks a lot when you go up that extra 500K. Also, I don't think the barn is your problem. I think a lot of people would enjoy having the extra detached space.

I also don't think you're the only folks who this house would be a fit for. I'm just saying that the number of buyers who would love this house for the same reasons you do are far fewer than the number of buyers out there looking for a 4 bedroom colonial on a cul-de-sac. The fewer buyers there are for your house. Generally, the longer it will take to sell your home. Your agent should have gone through all of this with you up front.

I'm also seeing a lot of houses in MLS on your street listed in the 7's and 9's. I'm not terribly familiar with your street. What would you say is the most common home value on your street. Your asking price or the 7 to 9 range?

Quote:
Originally Posted by hingham-x View Post
Also, I was paying close to $1000./mo rent for an office before we bought the house so it made financial sense as well as being practical for us. The numbers just worked.

NO ONE will have their kids on a different floor. When my kids were younger their friends were terrified of the third floor! We used it mainly for reunions, big sleep overs, etc. And NO ONE wants to sleep on the first floor. Unless it's guests/grandparents, etc who love it because they don't have to do the stairs and it's very private.
Exactly. I think the floorplan, specifically the location and size of the bedrooms, is one of your biggest obstacles to selling.

The business space on the 1st floor is nice but will only have appeal for a very small segment of the population.
Reply With Quote Quick reply to this message
 
Old 01-24-2018, 02:44 PM
 
Location: Needham, MA
6,324 posts, read 9,026,282 times
Reputation: 5324
Quote:
Originally Posted by just_because View Post
You nailed it with the garage. I didn't even notice that (and it hasn't been THAT long since i've lived in Boston). That's money that the buyer will need to spend right away as they wont' live with that at this price point in the suburbs (Cambridge or JP types will scrape the ice). Is the 1 car garage part of the barn? It looks like that's where the kitchen is. You saw my comments on the barn 'isolating' the pool. A garage conversion would seal that fate even more I think. So it would solve two problems (too much dead space in the outbuilding and need for garage) but create a bigger problem with isolating the pool even further from the house - i.e. you no barn living space next to it. A naive family might get over the distance of the pool and the building in the way if they (probably wrongly) believe that they will use it as a family cabana type space and all be out there together.
I believe the garage spot is in the barn and there are two kitchens. One in the main house and one in the barn. Personally, if I was the buyer and had the budget I would probably end up moving every wall in the place and filling in the pool. I'd build over the former pool location to connect the barn to the house and convert the barn to a multi car garage and perhaps some other space. I once saw a house that had a basketball court inside an old garage. That was nice.

Quote:
Originally Posted by just_because View Post
OP...it sounds like we're picking your house apart. I love the place but trying to see it through the eyes of various types of buyers. It looks like a fabulous family home.
I think it's a charming house as well. As a seller, it's often hard to see the viewpoint of buyer and also to understand it. We're just trying to help the OP with that. No one here is trying to be mean or nasty about the house.
Reply With Quote Quick reply to this message
 
Old 01-24-2018, 06:18 PM
 
Location: SoFlo
777 posts, read 487,545 times
Reputation: 1486
Quote:
Originally Posted by hingham-x View Post
The main house (3000sf) - the two gambrel roof sections - consists of first floor kitchen, dining area, living room, half bath, den, and sunroom/laundry. One the second floor is the master bedroom and bath, and two small bedrooms, with a den/playroom and another bath in between. The third floor has two bedrooms, half bath, and little study area. This is the section we lived in.

There was an addition (1000sf) added 20 years ago off the kitchen that is an in-law apartment consisting of one bedroom, a full bath, kitchenette/wet bar, and an open living space. It's soundproof and has it's own thermostats in each room. I used that whole apartment for my business.

The barn is finished inside on the first floor and has a bath/kitchen area. Upstairs is unfinished. Can have home business with up to 3 employees. Because of the pool you can have a full kitchen.

The buyer has to be someone who is going to make use of the various options that make it different from a 4-bedroom colonial, OR, It has to be someone with deep pockets that wants a very private but not isolated setting and can redo everything - gut it. Add central air, garage, etc. Have amazing parties/movies in the barn, connect it to the house and so on. That is what other people in my neighborhood have done - Bought a house for $1.7-1.8 and worked on it for a year before moving in.

My husband is a commercial airline pilot and wants to be away from people when he gets home so he refused to live in a cul de sac/neighborhood. And because he has a different schedule every month, with kids, it was impossible for me to work full time in Boston so the work-at-home option was perfect. The house was a perfect fit for us. I thought it might be for someone else, too, but I guess I was mistaken. I'd put a maker-space or shared office setup in the barn and use the in-law apt bed/bath for parents/guests visiting, etc. Multi-generational/work at home...

Maybe it should be marketed differently so it's easier to understand/imagine?
I think the previous poster who said this is a unique buyer is spot on - there is probably someone who might pay close to the asking price, but the bigger question is how long can you afford to wait? I say this as someone who lives in a “villagey” style town in Delray Beach, FL and renovated a historic house with a fairly small main house, large guest house, double sized lot with a large pool, and close to town and beach - and has been completely renovated. Real estate prices have skyrocketed in our town and we are getting estimates of $1-1.2M for our home, but I am not fooling myself. While the house has a lot of charm and it is a beautiful lot and close to all the amenities, the reality is the bedrooms are small in size and number, closet size is small, blah blah blah. A lot of very nicely built new homes are going up all around us and in that price point (these new homes are $100-200K higher), these buyers want (and can afford) these new homes with huge living areas, all walk-in closets, 3 car garages....I do think we could possibly find a buyer willing to pay $1M, but I think it would be a very long wait for that buyer looking for charm and a bigger lot, rather than the conveniences offered in these new homes.

It is a beautiful house though, in a beautiful town (I grew up in Marshfield and would have loved to have been in Hingham) - hope you find a buyer soon!
Reply With Quote Quick reply to this message
 
Old 01-24-2018, 07:21 PM
 
4,480 posts, read 7,937,629 times
Reputation: 6404
Quote:
Originally Posted by BoBromhal View Post
Why hasn't this Boston area home sold?
The answer to this question is the same for every property...... price.
Reply With Quote Quick reply to this message
 
Old 01-24-2018, 07:45 PM
 
4,480 posts, read 7,937,629 times
Reputation: 6404
Quote:
Originally Posted by 2houses.oh.no View Post
I took it off the market yesterday. Plan to realist in the spring.
People are relocating all the time. If its not on the market when they are searching, they obviously are not going to see your home if its not on the market. Just something to ponder....
Reply With Quote Quick reply to this message
 
Old 01-24-2018, 11:12 PM
 
6,166 posts, read 3,251,225 times
Reputation: 12502
Pretty house and grounds. But where's the front of the house? Is that the first picture? Or is the first picture the back of the house? If that's the front, why are there three doors in the front of the house?

From the pictures, I don't get a sense of the flow of the house. IMO, there should be a series of pics that lead you, first, into the house, then through here, then through there, then on to the kitchen, etc. Then show the stairs, then a pic of bedrooms upstairs. THEN the outside areas.

From the pics it's hard to know what room is where, and how situated in the house. The pics gave me the feeling that the house had been added onto over the years, which is why it seemed...I don't know...odd. Altho I didn't spend time looking at the floor plan pic.

Better pics that show the flow of the house, like you'd see when walking through, I think would help. And highlight the front of the house as your first pic, unless you want to hide that for some reason. Other than that, I've been told that when a house doesn't sell, it's either the market in that area, or the price. If the house is otherwise in good shape & clean and such.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top