Like he** I'm going to pay these prices! (Boston, Marlborough: lender, moving)

[brightdoglover]

Aside from the demographic baby boom, all these generational labels are marketing nonsense. Mean nothing except what they might or might not buy. To be ignored!

My former house in Littleton went from a sale price in 2018 of $418K (in five days on the market) to a Zestimate of $489k today. Two bedrooms, stunning contemporary on a half acre but wow.

[masssachoicetts]

My old single family home in Randolph is zestimated at 595k. Like why. It was on the market for $399k in 2016...

[GeoffD]

Originally Posted by BostonMike7

They really are.

Buying a home here is like buying a car with an Adjusted Dealer Markup tacked onto the price. So many anecdotal tales of people bidding $30-50k over asking just to outbid someone else and get a home. At this point it’s hard to judge what true property values really are. I’d have to imagine all the appraisals are coming in right at sale price too

Not Massachusetts but we closed on a condo in Avon, CO on Monday walkable to the Beaver Creek town lift. With interest rates so low, we opted to leverage the property as an inflation hedge. I was kind of surprised that the appraisal came in at exactly the sale price. The appraiser in their analysis picked up on the reality that housing is so scarce in the Vail Valley that the property as yearly rental to a local would easily cover ownership costs.



My little house in West Portugal is also up close to 30%. I don't think it's sustainable. I don't plan to ever sell it but the market is empty nesters downsizing and first time home buyers paying a mortgage with W-2 money. When interest rates nudge up and supply increases, prices will drop. Very different from the desirable metro Boston zip codes.

[masssachoicetts]

As bad as Boston is right now.. its far from the worst. Denver, Salt Lake City, Raleigh, Tampa, Seattle, LA to name a few are all having bidding wars going 100k+ more over asking.

[id77]

Originally Posted by masssachoicetts

As bad as Boston is right now.. its far from the worst. Denver, Salt Lake City, Raleigh, Tampa, Seattle, LA to name a few are all having bidding wars going 100k+ more over asking.

I almost bought a home in Draper (UT) 5 years back as an alternative to Marriott when I was out there. In retrospect, I wish I had -- I would have already doubled my money. The influx of tech talent out there is driving prices and isn't going to stop any time soon. They'll be Seattle prices in 5-10 years.

Denver's in a similar boat...actually, every city you mentioned except Tampa is either a tech hub or is in the process of becoming one so the price explosions there are to be expected.

[Shrewsburried]

Originally Posted by id77

I almost bought a home in Draper (UT) 5 years back as an alternative to Marriott when I was out there. In retrospect, I wish I had -- I would have already doubled my money. The influx of tech talent out there is driving prices and isn't going to stop any time soon. They'll be Seattle prices in 5-10 years.

Denver's in a similar boat...actually, every city you mentioned except Tampa is either a tech hub or is in the process of becoming one so the price explosions there are to be expected.

I’ve had a client out in Boulder/Louisville CO for the past decade. The equity gains in that area are obscene ... one could have bought a modest remodel candidate for <$350k circa 2013 and those homes near ‘old town’ Louisville are now easily 2-3x the valuation.

In hindsight, the increased demand was inevitable ... hipster amenities, good job market, close proximity to a legitimate urban center (I.e., Denver).

[Lampert]

Originally Posted by BostonBornMassMade

Don't like them even though I'm very close in age. Cannot get loose around them because they're so astoundingly socially awkward and put no effort into overcoming their personal challenges/shortcomings or developing social skills that translate to the public sphere. Because all their baggage is on their sleeves AND shared with you...it reneders them unapproachable-to me at least.

Even if you are 25, you are a lot more mature than when you were 18. So no surprise you don't want to hang out much with (mostly) teenagers.
I am sure things will be different when you will be 40 and they will be 33.

[BostonMike7]

Originally Posted by brightdoglover

My former house in Littleton went from a sale price in 2018 of $418K (in five days on the market) to a Zestimate of $489k today. Two bedrooms, stunning contemporary on a half acre but wow.

I know online Zillow valuation doesn't mean much, but I decided to check out my former condo.

I bought it for $160k in 2010 (midst of Great Recession Forclosures) and sold it for $230k in 2015. Today it's sitting at $366K. 1 bedroom. 800 sf. I should have just rented it for a few years.

My current home was purchased in 2015 after selling the above, and looking online it's sitting at $180K over what I paid. That's just nuts.

[msRB311]

The way the prices have risen on homes in the greater Boston area even in the past year does not seem normal.

[Shrewsburried]

Originally Posted by msRB311

The way the prices have risen on homes in the greater Boston area even in the past year does not seem normal.