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Old 08-26-2014, 01:56 PM
 
29,829 posts, read 34,918,975 times
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Quote:
Originally Posted by newenglandgirl View Post
Better teachers do not always = better school districts. Amherst, Mass., in the middle of the famed "Five College" area and home to UMass, is a case in point. The property taxes in that town are the highest (with Boston area) in this state. It is a "liberal, wealthy, politically correct" town. In the past few years the town has seen a teacher suspended for porn and a terrible racist series of incidents that can't seem to go away (resulting in the departure of a wonderful teacher who is not white, the predominant demographic). The school reputation is decidedly going downhill. I lived in a much better school district (academically and otherwise) in the Midwest, where housing values are not nearly as high as in Amherst. Lesson is that there are fables that abound about the supposed quality of certain places and schools.
Sure, my point is about people paying to buy into the fable and keep it going. People in affluent districts who paid a premium to live there are usually wise enough to bite their tongues and keep their property values up.
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Old 08-26-2014, 04:06 PM
 
Location: Near a river
16,042 posts, read 19,007,999 times
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Quote:
Originally Posted by TuborgP View Post
Sure, my point is about people paying to buy into the fable and keep it going. People in affluent districts who paid a premium to live there are usually wise enough to bite their tongues and keep their property values up.
No biting tongues here. The media blasts all the scandals in that town's schools. Groups, committees get formed (LOL), rallies take place, selectmen/women debate and have fights. Still the myth continues.
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Old 08-26-2014, 04:55 PM
 
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Quote:
Originally Posted by newenglandgirl View Post
No biting tongues here. The media blasts all the scandals in that town's schools. Groups, committees get formed (LOL), rallies take place, selectmen/women debate and have fights. Still the myth continues.
Perhaps things are catching up and now is the time for them to sell
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Old 08-26-2014, 05:19 PM
 
Location: Near a river
16,042 posts, read 19,007,999 times
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Quote:
Originally Posted by TuborgP View Post
Perhaps things are catching up and now is the time for them to sell
No, the myth is too strong about some places. Denial too.
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Old 08-26-2014, 05:26 PM
 
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Originally Posted by newenglandgirl View Post
No, the myth is too strong about some places. Denial too.
I need to do some research and will pm you
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Old 08-26-2014, 06:20 PM
 
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Quote:
far fewer homes than buyers
That is the situation here. The appraised market value of our house went up $80,000 last here with most of that on the dirt which the house sits on. Twelve years ago, we bought this little 50s house near the center of town because it was convenient. Since then, the value and taxes have skyrocketed. Young couples can't really afford to buy a house here which makes me sad. What is happening quite a bit though are tear downs with the little bungalows being scraped and replaced with 3000+ huge houses. Transplants with large incomes can afford them and are moving in left and right. Hoping we can hang on one more year before the property taxes reach $10K.
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Old 08-29-2014, 05:29 AM
 
Location: New England
400 posts, read 648,123 times
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We've been trying to sell my husband's home in Vermont since February and have reduced the price twice (big drop second time!) with no luck. It's a rambling place about 20 minutes from an upscale college town. He is now going to rent to cover the bills, before winter heating prices kick in. The story up here is that the smaller and more expensive homes in said college town are selling, but the mid-range homes outside of town are not. People in that town who've been waiting to put their homes on the market are rushing to do so now, creating a glut. We've been told that when those sell, buyers will begin to look outside of town.

But I'm not sure. The higher maintenance costs associated with this large, many-windowed home with cathedral ceilings and long downhill driveway may put the younger buyers off.
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Old 08-29-2014, 05:32 AM
 
Location: New England
400 posts, read 648,123 times
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Quote:
Originally Posted by ABQ2015 View Post
The baby boomers have just barely started to retire. The largest number of baby boomers were born in 1957. Many of those who did not save may end up selling their homes (or downsizing) to fund their retirement. Wealthier ones will also be downsizing. The millenials do not have as much money and may prefer smaller homes that are closer to more urban areas with walkability. Some estimates are that this will cause a housing bust around 2020 with a glut of large and suburban homes on the market. Also interest rates may rise and drive down home prices.
This worries me, too.
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Old 08-29-2014, 08:09 AM
 
13,346 posts, read 25,607,620 times
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If I sell my house, it will list as "condo alternative" being 1250 sq.ft., first-floor full bath and bed, on a half-acre in the woods near highways and other stuff. I will only sell and leave if I am going to a continuing care retirement community, and imagine I will only do that if physically necessary. I think that could be in about 20 years. My house is not exactly a family house- more an adult couple house, or maybe a single parent with one kid (second bed/bath are in a huge loft upstairs). I think I would always have a small potential buyer pool, since it's an odd design, two bedrooms and very contemporary.

People with kids do seem to be buying the occasional new house built in the neighborhood (which was formerly summer shacks turned into very modest poorly built houses). This town continues to draw young families or people moving out of the city, often with kids. Properly priced, houses seem to sell pretty well and fast and the town is only becoming more desirable over time. I am lucky, because I didn't think this far ahead when I bought my built-over shack some 22 years ago (and had to build a new house in 2001 due to everything-failure of the old tiny house).
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Old 08-29-2014, 09:09 AM
 
5,400 posts, read 6,550,585 times
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^^^^^

I like that everything failure phrase.

Same here, I think I have fixed or replaced every major system in the house since I have lived here these 8 years and it is time to move on before I put more $ into a house I plan to move from anyway.

Sales are up in my neighborhood slightly and I think we have almost sold off all the foreclosed homes from 2008. Sales prices are up to where I think most are not underwater now, although some may have worse financial situations.

Seems the new buyers are trickling in so it is slow but the new folks tend to be young with or soon to have children.
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