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Old 12-27-2016, 10:13 AM
 
176 posts, read 249,784 times
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Quote:
Originally Posted by bigfatdude View Post
Savin Hill is already too expensive for UMASS kids so you don't have to worry about the student ghetto part, but I definitely wouldn't mind seeing the last few remaining slumlords condoing out their section 8 ****holes.
Oh, don't sell yourself short. Have you seen how expensive Mission Hill is? I'll bet Savin Hill could be turned into a student ghetto. Let's seize the momentum -- today is the day!
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Old 12-27-2016, 10:29 AM
 
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Savin hill is not easily accessible to colleges other than umass boston.
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Old 12-27-2016, 11:10 AM
 
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Also im not saying that buying a home anywhere in boston is a bad investment...but buying a home in the hopes that in a few years it will be worth much much more is just that...hopeful. anyone who bought a few years ago and is now looking to sell is likely happy but i cant fathom prices going up that much more. I think they will steadily increase but thats about it
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Old 12-27-2016, 12:29 PM
 
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Buying in Roxbury made sense a few years ago, when prices were still low and mortgages were cheap. Rates are going up now and some of those prices driven to insane levels by real estate speculators simply won't be sustainable, especially in the "up and coming" neighborhoods like Roxbury that won't really "up and come" until the criminal element is broomed out. True, Fort Hill is beautiful, but let's face it, Roxbury is mostly H-Blocks with a few Fort Hills sprinkled in here and there, and any good part is and always was very expensive. When it comes to investment property Hyde Park might be a better idea, it's still dirt-cheap by Boston standards and things will improve when (or rather if) something is done about the indigo line.
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Old 12-27-2016, 12:51 PM
 
Location: Behind You!
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Buying a house as an "investment" in a crappy neighborhood that nobody other than people who can't afford any better and sometimes students isn't a good idea. Students destroy everything and tenants are allowed to screw over landlords VERY badly in this state ESPECIALLY in Boston. They'll damage stuff, you'll eat it because it costs more to go after them than it's worth and the cycle continues.

Do you live in your own house now? If not then work on saving for that, then when you have equity in that and have saved money THEN buy a rental property in a neighborhood that's worth it and where you can get a quality tenants.

The math just doesn't work. The only people that see an income in this are the same types that think car leases are a good idea! Work the numbers, don't do that to yourself.
Good Luck
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Old 12-27-2016, 01:20 PM
 
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Well i will say i never thought id see the prices in Dorchester that im seeing now...it's considered 'a crappy neighborhood' by many still.
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Old 12-27-2016, 01:26 PM
 
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Boston magazine mentioned hyde park as a place to buy now. They also mentioned dorchester but prices have gone up so much there. They also mentioned east boston...but there's a lot of dead bodies turning up there
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Old 12-27-2016, 06:46 PM
 
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Also according to this, Best Places to Live 2016 - Single-Family Homes Chart - Boston Magazine home sales went down a lot on roxbury from 2014 to 2015.
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Old 12-31-2016, 12:32 AM
 
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Quote:
Originally Posted by Whatsnext75 View Post
Also according to this, Best Places to Live 2016 - Single-Family Homes Chart - Boston Magazine home sales went down a lot on roxbury from 2014 to 2015.
Thanks for the revised figures. For purposes of comparison, I looked at the sales on Redfin over the past 12 months and they look like they're going to slightly outpace 2014. I think your instincts are right to question how much the numbers actually reflect real changes in value, though, given the small number (20 or so) of single family homes in Roxbury that are sold each year. But to a certain extent what does it matter? Even at the more conservative 2015 numbers Roxbury is still way out pacing Boston's other neighborhoods.

I see people mention speculation driving the price and I'm not sure what that means. Most single families homes seem to me to be sold off market to developers; who then take them down to their studs, divide them into multiple condo units, retro fit them with upscale fixtures and then price them aggressively as luxury units. These are not the type of units that appeal to investors who want to rent out their units-- they're built to appeal to owner occupiers. Maybe investors are driving the regular condo market . . . I can't say. I don't think you can say speculation is driving the increase in single family homes though.
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Old 12-31-2016, 04:52 AM
 
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I think there's been a lot of hype about east boston and roxbury and Dorchester for that matter. The hype has prompted people to buy homes and condos there that are quite frankly, overpriced. Then you have people living there because they couldn't afford to live in the place they really wanted to...and most will leave because well, BPS.

I really wonder what will happen to the city if tito jackson becomes mayor. He is absolutely going to cater to lower income areas and he's had it with all the price increases and people get pushed out of their neighborhoods. And God help the BPD if he wins. He'll be paying gang members ex felons to run the streets of boston.

Last edited by Whatsnext75; 12-31-2016 at 05:27 AM.. Reason: Added
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