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Old 05-06-2023, 09:06 PM
 
2,710 posts, read 1,733,872 times
Reputation: 1319

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Quote:
Originally Posted by massnative71 View Post
Still though that's a ton of equity to have, unless maybe they moved from a smaller house in Westwood (or elsewhere that they owned for 20-30 or whatever years, that was totally paid off).
Why does it have to be equity? They could have bought Amazon, Google, Microsoft, Apple, Facebook, NVDA etc stock 10-20 years ago and been rich from that.
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Old 05-07-2023, 05:39 AM
 
1,540 posts, read 1,125,554 times
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Interesting to see how people feel the need to stay negative.

“$1.8M house? Hope they have savings and don’t lose their job with that massive mortgage!”

“Oh, it’s over 50% cash equity? They should’ve bought a smaller house!”
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Old 05-07-2023, 06:25 AM
 
2,710 posts, read 1,733,872 times
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Quote:
Originally Posted by simplexsimon View Post
Interesting to see how people feel the need to stay negative.

“$1.8M house? Hope they have savings and don’t lose their job with that massive mortgage!”

“Oh, it’s over 50% cash equity? They should’ve bought a smaller house!”
Yeah. I already gave an example of my buddy who has a net worth of probably 30-40mil. He bought a 2mil home. I don't think he pays 100% cash for all his properties. If he bought this house then people here would say the same things. They would also assume he has generational wealth. Nope, his family literally came to America with nothing.

Some people have a lot of money.

Last edited by matrix5k; 05-07-2023 at 06:38 AM..
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Old 05-07-2023, 06:46 AM
 
37 posts, read 32,929 times
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Quote:
Originally Posted by newenglandgal123 View Post
Here's an almost $300K over lister in Westwood. I guess $100K over list is no longer impressive enough to sellers....gotta up the ante to try to make your bid really stand out. Outrageous! https://www.zillow.com/homedetails/7...57518974_zpid/
We were looking in the area same time so know the area and market very well now. We didn't like the layout of the house and it's right behind an Amazon warehouse, even though general location is good. 2 half baths on the first floor instead of putting one in the basement makes no sense. It's built in the 60's. It's not worth 1.83 maybe 1.65 if you overlook the warehouse. Someone FOMO hard on that house. homes in that area sitting right now about the 1.5 range.

https://www.zillow.com/homedetails/1...ource=txtshare

https://www.zillow.com/homedetails/3...ource=txtshare

Here's one for close to their price but built in 2021

https://www.zillow.com/homedetails/4...ource=txtshare
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Old 05-07-2023, 07:16 AM
 
2,352 posts, read 1,780,522 times
Reputation: 700
Three more examples of the condo crash I was talking about earlier...

https://www.redfin.com/MA/Framingham.../home/11618051

Sold in 2005 for 205k, sold in 2008 for 130k. Currently trying to get 300k.

https://www.redfin.com/MA/Framingham.../home/11642831

Sold in 2005 for 204k, foreclosed in 2009 at 90k. Currently asking for 215k.

https://www.redfin.com/MA/Wrentham/7.../home/11502374

Sold in 2005 for 175k, sold in 2015 for 89k (although it was sold at 145k a few months later after a flipper did some flipping). Currently asking for 240k.
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Old 05-07-2023, 07:42 AM
 
2,710 posts, read 1,733,872 times
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Quote:
Originally Posted by yesmaybe View Post
Three more examples of the condo crash I was talking about earlier...

https://www.redfin.com/MA/Framingham.../home/11618051

Sold in 2005 for 205k, sold in 2008 for 130k. Currently trying to get 300k.

https://www.redfin.com/MA/Framingham.../home/11642831

Sold in 2005 for 204k, foreclosed in 2009 at 90k. Currently asking for 215k.

https://www.redfin.com/MA/Wrentham/7.../home/11502374

Sold in 2005 for 175k, sold in 2015 for 89k (although it was sold at 145k a few months later after a flipper did some flipping). Currently asking for 240k.
Shows that real estate always goes up in the long run.
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Old 05-07-2023, 09:28 AM
 
1,540 posts, read 1,125,554 times
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Quote:
Originally Posted by matrix5k View Post
Shows that real estate always goes up in the long run.
Are you comparing the 2005 prices to now?
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Old 05-07-2023, 10:12 AM
 
23,560 posts, read 18,707,417 times
Reputation: 10824
Quote:
Originally Posted by matrix5k View Post
Why does it have to be equity? They could have bought Amazon, Google, Microsoft, Apple, Facebook, NVDA etc stock 10-20 years ago and been rich from that.

Of course it doesn't "have" to be equity, but that's not really the point.
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Old 05-07-2023, 10:14 AM
 
2,710 posts, read 1,733,872 times
Reputation: 1319
Quote:
Originally Posted by massnative71 View Post
Of course it doesn't "have" to be equity, but that's not really the point.
Then what's the point? Everyone is speculating how much equity they have.
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Old 05-07-2023, 10:16 AM
 
2,710 posts, read 1,733,872 times
Reputation: 1319
Quote:
Originally Posted by simplexsimon View Post
Are you comparing the 2005 prices to now?
Yes houses cost way more now than in 2005. I wish I could have bought back then.
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