Dream Boston home, where would you live? (Newton, Danvers: schools, appraise)

[id77]

Sticking to the $3M budget and area, I'd move more toward something like this:

https://www.zillow.com/homedetails/1...7755336_zpid/?

Even includes deeded parking, so don't have to sweat that. Use the extra half a million to open that kitchen up a bit. Even though it's Back Bay, it's close to the MGH stop on the Red or you can walk over the bridge on nice days.

[yellowstatus]

Originally Posted by id77

Sticking to the $3M budget and area, I'd move more toward something like this:

https://www.zillow.com/homedetails/1...7755336_zpid/?

Even includes deeded parking, so don't have to sweat that. Use the extra half a million to open that kitchen up a bit. Even though it's Back Bay, it's close to the MGH stop on the Red or you can walk over the bridge on nice days.

Nice choice! That would be awfully attractive to me with benefits of both Beacon Hill and back bay

[msRB311]

Originally Posted by BostonMike7

Helicopter in the garage is the ultimate flex that i've seen by far.

I wouldnt mind going into the office everyday if I could get there by helicopter. Why is this not more of a thing in Boston?

[lrfox]

Well if you have $1.8 Million (cash), don't mind not seeing the place in person, and are OK with just taking the seller's word over the appraised value, then this house in Danvers seems like a real steal. Based on the listing, the entire process seems like it would be a very pleasant experience: https://www.zillow.com/homedetails/2...56911177_zpid/

Listing Description:

This house is being sold as is.

I just sold four houses and am not showing this house. Too many look-y-loos. So no showings, no inspections, just cash deal. That's how I buy most of my houses--usually sight unseen (I'm buying one right now in California without ever having been to the town). You can probably build an add on as this lot is a double lot, compared to all other homes in neighborhood.

Value: This house cost $130,000 to build --in 1962, when most of Danvers sold for under $20,000. The land (double lot) value isn't included in the original building cost--so $130,000 plus the double lot on sanctuary in the Prep neighborhood.

Fact: I paid $579,000 in 2006 and then invested another $130,000 into it for basic upgrades. Since 2006, home values in Danvers have doubled. So my logic then is my purchase price plus upgrades ran me $700,000. Therefore, 1.4 million for the house on one lot. Second lot value is approx $400,000. So selling price is $1.8 Million. Second lot must go with main house.

There are numerous intangibles. House is located on sanctuary (previously owned by this house), the street is a loop--so off tertiary road, and located in the St. John's Prep neighborhood.

This house won't be shown. I bought it sight unseen 15 years ago. You can do the same. So then, a cash deal. No showings, no inspections, etc. The appraisal will come in between $675-$800,000--that's because the appraisers refuse to do their job--appraise. They only compare my house to other homes in the neighborhood. They don't take into account that this house cost $130,000 to build on it's own double lot in 1962 --when all the other homes on the same street cost about $25-$30,000, to include the land.

So I need you to extrapolate the true value of this property. Appraisers haven't been trained to appraise this house--Just a fact.

So, if interested, do a drive by but don't knock. Contact me only with your full offers. Thx for reading, but pls understand, I'm not interested in financing, discounting, innumerable showings or appraisals. Just make your decision.

[id77]

Originally Posted by lrfox

Well if you have $1.8 Million (cash), don't mind not seeing the place in person, and are OK with just taking the seller's word over the appraised value, then this house in Danvers seems like a real steal. Based on the listing, the entire process seems like it would be a very pleasant experience: https://www.zillow.com/homedetails/2...56911177_zpid/

Listing Description:

This house is being sold as is.

I just sold four houses and am not showing this house. Too many look-y-loos. So no showings, no inspections, just cash deal. That's how I buy most of my houses--usually sight unseen (I'm buying one right now in California without ever having been to the town). You can probably build an add on as this lot is a double lot, compared to all other homes in neighborhood.

Value: This house cost $130,000 to build --in 1962, when most of Danvers sold for under $20,000. The land (double lot) value isn't included in the original building cost--so $130,000 plus the double lot on sanctuary in the Prep neighborhood.

Fact: I paid $579,000 in 2006 and then invested another $130,000 into it for basic upgrades. Since 2006, home values in Danvers have doubled. So my logic then is my purchase price plus upgrades ran me $700,000. Therefore, 1.4 million for the house on one lot. Second lot value is approx $400,000. So selling price is $1.8 Million. Second lot must go with main house.

There are numerous intangibles. House is located on sanctuary (previously owned by this house), the street is a loop--so off tertiary road, and located in the St. John's Prep neighborhood.

This house won't be shown. I bought it sight unseen 15 years ago. You can do the same. So then, a cash deal. No showings, no inspections, etc. The appraisal will come in between $675-$800,000--that's because the appraisers refuse to do their job--appraise. They only compare my house to other homes in the neighborhood. They don't take into account that this house cost $130,000 to build on it's own double lot in 1962 --when all the other homes on the same street cost about $25-$30,000, to include the land.

So I need you to extrapolate the true value of this property. Appraisers haven't been trained to appraise this house--Just a fact.

So, if interested, do a drive by but don't knock. Contact me only with your full offers. Thx for reading, but pls understand, I'm not interested in financing, discounting, innumerable showings or appraisals. Just make your decision.

This very home has had a lovely discussion on the Real Estate Observayions thread.

[lrfox]

Originally Posted by id77

This very home has had a lovely discussion on the Real Estate Observayions thread.

Whoops!

[BostonMike7]

I drove by it out of curiosity. Had to see that amazing house in person.

[NewfieMama]

Originally Posted by lrfox

Fact: I paid $579,000 in 2006 and then invested another $130,000 into it for basic upgrades. Since 2006, home values in Danvers have doubled. So my logic then is my purchase price plus upgrades ran me $700,000. Therefore, 1.4 million for the house on one lot. Second lot value is approx $400,000. So selling price is $1.8 Million. Second lot must go with main house.

When I read this in the other thread last week, I read it in Dwight Schrute's voice

Originally Posted by BostonMike7

I drove by it out of curiosity. Had to see that amazing house in person.

How did it look in person? The photos were beautiful enough--in person it must have been magnificent!

[BostonMike7]

Originally Posted by NewfieMama

How did it look in person? The photos were beautiful enough--in person it must have been magnificent!

It's a really nice neighborhood. The house? not so much.

Some of the abutting homes are very nice. If that house goes for 1.8 mill they should be able to get 2.5 mil easy

[CaseyB]

The lot looks nice. The house looks icky.