Relocating from Rutherford, NJ to Boston, MA

[chicagoliz]

Originally Posted by loveblumes

Hello neighbors! I hope this finds all of you well.

So we moved into a Belmont apt last July and what a whirlwind it's been! We want to buy in Belmont but still haven't been able to. Got outbid over the winter on the only house we loved and still looking.... We love Belmont and Winn Brook Elem! Wish we didn't love Belmont so much....



I wanted to thank you all for your help and I'm sorry I haven't been on but it's a been a bit crazy with major life events, stuff in storage, etc. We have extended our short term lease twice in our apartment. Should have just done the yearly lease! Would have saved a ton. Who knew?? I've never seen a market like the one here. Is it cooling? Please say yes!

Wishing you luck. When we moved here a few years ago we were looking at Belmont, Lexington, Arlington, Winchester, Newton and Needham. Belmont seemed to have less inventory than most of the other towns and it seemed like a significant number of houses we looked at actually already had contracts on them, but the realtors were just continuing to show them as backups. It appeared that there were a good number of people who really wanted Belmont and only Belmont, so every listing was a competition for buyers. We kind of gave up because at our price range, the houses we saw were okay - nice enough but not anything I fell head over heels in love over, and I wasn't up for getting into a bidding war or foregoing inspections or anything like that because I didn't have a pre-existing connection to Belmont and figured I'd be just as content in most of the other towns we were looking at, so it wasn't worth it to us to continue to fight to get into Belmont.

But, certainly if I were in your position and were already living there and had a kid in school, then I'd be invested in Belmont and very much want to stay. So, I wish you good luck!

[mwj119]

Originally Posted by jks1985

Market is definitely cooling. Be patient!


Moderator cut: links removed, competitor site

Ahh if only it were so simple.

I would look for YoY ppsqft comparisons, and specific examples of homes in the $800 price range that sold last year for a proper comparison. The luxury market is cooling for certain, and may be driving sale prices down, but i'm not sure the rest of the inventory is there yet. Soon enough, though, it will.

[sawyer2]

Originally Posted by loveblumes

Hello neighbors! I hope this finds all of you well.

So we moved into a Belmont apt last July and what a whirlwind it's been! We want to buy in Belmont but still haven't been able to. Got outbid over the winter on the only house we loved and still looking.... We love Belmont and Winn Brook Elem! Wish we didn't love Belmont so much....



I wanted to thank you all for your help and I'm sorry I haven't been on but it's a been a bit crazy with major life events, stuff in storage, etc. We have extended our short term lease twice in our apartment. Should have just done the yearly lease! Would have saved a ton. Who knew?? I've never seen a market like the one here. Is it cooling? Please say yes!

Congrats and welcome to Belmont. We have been here 4-5 years and love it here.

The market in Belmont is insane as you noted and the recent interest rate drop has poured some gasoline on the fire. I had a quick look on redfin and there are just 25 SF homes on the market, 16 of which are >$1M, and many of the other listings are small, near a busy road, and/or need renovation. Hopefully the spring marked will bring new inventory.

However, I still think that Belmont is worth it, and I think it will continue to appreciate and hold its value in any downturn (as it did in the 08/09 recession).

- It has incredible access to Boston/Cambridge for work or socializing. 2 commuter rail stops in town with just 1 stop to porter square and 2 stops to south station, many fast and frequent bus route options to Harvard Square or Alewife, and driving is usually 30-35 mins to Kendall or Back Bay and half that at weekends.

- The school district is consistently listed one of the top in the state - and they just broke ground on a new state of the art, no expense spared high school which should increase desirability even further.

- Belmont is a truly great place to raise kids. I love that the middle school+ age kids walk and bike to each others houses all the time and to school. It is a small compact town that enables this and you don't have to do as much schlepping around as in the outer burbs. The older kids take buses and trains to Harvard square and Boston all the time .... great to have this freedom and flexibility.

- Nice walkable down town with decent food options. We walk or bike most places in town at the weekend. And you have all of the usual big box stores very close by in Watertown and Waltham.

I'm sure you know all of this, but I'm adding it to say not to be disheartened as there are reasons that it is so popular and will be worth it in the end. You are well positioned in a rental to make a move when the right house comes along.

Good luck!

[loveblumes]

Originally Posted by mwj119

Ahhh I remember this thread. I LOVE Belmont. Such a good mix. It's going to be so nice to have the Arsenal Yards done (2020?). Hope you are able to stay..

Though you may know this by now, I would continue to consider Winchester as a viable alternative. It's my personal favorite, and will feel totally familiar if you are now used to Belmont. Once and a while, a house in the $700s will pop up in a decent neighborhood on the far north side. If not Winchester, Arlington too.

Good luck OP! Inventory should be growing. Find a gem in the fall!

So good to hear back from you. Thank you for the recommendations for Winchester and Arlington. Husband doesn't like the Winchester commute and we really like the Belmont school our son is in now. We considered Arlington but weren't sure if the schools were as good. It's not so much the academics I'm referring to but the emphasis on compassion, kindness and empathy I love. What a change from his school in Rutherford. This transition is still in the works but for this alone it's been so worth it.


We are finally seeing more houses again after a bit of a dry spell. Thank you for the words of encouragement!

[MikePRU]

Originally Posted by jks1985

Market is definitely cooling. Be patient!


Moderator cut: links removed, competitor site

I'm not sure how you can come to that conclusion by looking at median list price. At the end of the day, list price is a marketing tool. Sometimes you intentionally make it low. Sometimes, you intentionally make it high. Sale price would be a much better indicator.

[Dm84]

Originally Posted by MikePRU

I'm not sure how you can come to that conclusion by looking at median list price. At the end of the day, list price is a marketing tool. Sometimes you intentionally make it low. Sometimes, you intentionally make it high. Sale price would be a much better indicator.

Look it shouldn't come as a shock to anyone that the number of people who can overpay for housing in top school districts is limited. Eventually prices in the "luxury" market have to come down if people still want to sell houses in those towns.