What is wrong with Waltham? (Boston, Newton: houses, neighborhoods, elementary schools)

[Malishka]

Newton, Watertown, Belmont, Weston, Lexington...And then, in the middle of those towns there is Waltham...Why it stays so much cheaper then others? I always thought that if town surrounded by upscale towns it becomes better and more expensive with time....

Why Waltham does not? Is there something everybody (but me LOL) knows? What's wrong with it? House that costs 900K in Waltham would cost 2M in Newton...

[pennyone]

Are there SF houses that are worth 900K in Waltham? Just curious, never heard of them before....

[CaseyB]

Waltham used to be considered solidly middle class, probably more so than Watertown. Then it became sort of trashy, especially the center. It's slowly improving.

[Malishka]

Originally Posted by pennyone

Are there SF houses that are worth 900K in Waltham? Just curious, never heard of them before....

yep, even 1.5M

[495neighbor]

Last I looked, you could get a very nice period home around the Bentley college area, the prettiest part of Waltham, for around $600 to $700K.

[MikePRU]

Originally Posted by Malishka

yep, even 1.5M

Yup. Most expensive listing in Waltham right now is about $50K short of $1.5M. However . . . I could list my own home for $2M. This doesn't mean anyone is going to pay that price. I did a quick search on MLS and in the last 5 years only 1 home has sold for more than $1M in Waltham and it was just a hair over $1M. Waltham just doesn't command the premium prices that many of its neighbors do. That's not to say that it isn't a good place to live.

[SoFresh99]

The only thing wrong with Waltham is the perception of the value of the school system as measured by MCAS. What I find truly weird is that if you look at the MCAS data Waltham outperforms Melrose (at least last I dug into it) but Melrose schools are perceived as acceptably decent and Waltham's are not. I think as the bloom falls further from the rose regarding the school systems thought of as "good" people might wise up. Once people expand their values beyond just MCAS scores things will change.

Witness the condemned elementary playgrounds and crumbling library in Belmont, or the cramped ancient and crumbling Newton elementaries, or Framingham's once-a-week open elementary libraries, or Arlington's only 15 minutes of recess per day policy- eventually people will wise up and make choices based on more than just a test. If you've ever been inside Lincoln's or Sudbury's elementary schools you know it is only a matter of time before there is a video abut them.

[dravogadro]

It's a hidden gem with a rough reputation. Whenever there is a good house, it leaves the market pretty quick, particularly in the most desirable neighborhoods. I think the people generally driving the housing market are young people, who probably would rather invest in living in downtown Boston area, or families who are hyped up on schools -- so they aren't looking in Waltham.

Another factor that I have heard is that the homes are smaller and it is difficult to get city permission to do expansions so that may cause some to avoid -- which may keep away the builders as well.

[Space_League]

Waltham is a nice town. The western suburbs are generally overpriced so a middle of the road kind of town like Waltham gets a bad reputation.

[Malishka]

Originally Posted by MikePRU

Yup. Most expensive listing in Waltham right now is about $50K short of $1.5M. However . . . I could list my own home for $2M. This doesn't mean anyone is going to pay that price. I did a quick search on MLS and in the last 5 years only 1 home has sold for more than $1M in Waltham and it was just a hair over $1M. Waltham just doesn't command the premium prices that many of its neighbors do. That's not to say that it isn't a good place to live.

The same house in Belmont would cost 2.5M and would go in a couple of weeks....And they are only 10 minutes drive from each other...That is so strange...