2023 Real Estate Observations (Boston: offering, outdoor, desirable)

[yesmaybe]

Originally Posted by newenglandgal123

I always thought Norfolk was pretty desirable for those who want some land, a green leafy suburb and fairly reasonable access to 495. Maybe not as desirable as other towns, but didn't think it was toward the bottom of the totem pole either?

It's an hour+ on the train to South Station, and driving would probably be worse. It's too far to the 128 jobs too.

[CaseyB]

Originally Posted by newenglandgal123

I always thought Norfolk was pretty desirable for those who want some land, a green leafy suburb and fairly reasonable access to 495. Maybe not as desirable as other towns, but didn't think it was toward the bottom of the totem pole either?

It shouldn't be, there's a mbta train station in the town center. Not much in the way of a center, though. Otherwise, it's very safe.

[massnative71]

Norfolk also works if you commute to Franklin, Hopkinton, Foxboro/Mansfield, etc..

[massnative71]

Originally Posted by newenglandgal123

Here's an interesting one...sold for $131K over list at $910K less than a year ago, now it's listed for $849K. Big ouch for the sellers if it doesn't sell for over list this time too to at least allow them to break even!

36 Massachusetts Ave, Norfolk, MA 02056 | MLS #73104127 | Zillow

Originally Posted by yesmaybe

For a place that was allegedly built in 2002, it's had several owners. Makes you wonder if it's a lemon.

Well looks like the current owner's mortgage was for $728K. So at least they put 20% down.

[matrix5k]

Maybe that Norfolk one is haunted? Looks like a nice house.

[matrix5k]

Originally Posted by massnative71

Some do, but most can't. For the majority of folks, it's their nest egg that's going to pay for their assisted living/end of life care. Either that or they will still owe money on it, and will end up being sold with whatever proceeds divvied up among their survivors. And of those who do pass along their homes, that results in their kids putting their current home on the market (or selling the home they inherited). And then of course, there are those who choose not to be that generous to their kids and opt for charities instead. Given how much of the area's housing stock is currently held by the boomer population, something is going to give at some point.

I've seen many parents sell their homes to their kids too, so it still stays in the family. The kids don't necessarily own a home before that.

[msRB311]

Originally Posted by matrix5k

I've seen many parents sell their homes to their kids too, so it still stays in the family. The kids don't necessarily own a home before that.

Many situations I've seen is the house is left to the kids and the kids sell the house.

[msRB311]

Here's a foreclosure in Duxbury:

https://www.zillow.com/homedetails/1...57174446_zpid/

It sold for $453,000 in 2019 which is pretty cheap for even back then...I guess someone couldn't make the payments and now 4 years later it's being sold for double by the bank? It's apparently been renovated since it was sold in 2019.

[BostonMike7]

Originally Posted by matrix5k

This forum is so weird. Why do you people care so much about how others spend their money? So much negativity here. It's "this house is ugly" or "why would anyone spend this much on this house" or "they only put this much down, what if one of them loses their job?". No one has anything nice to say?

You forgot "But it's not a top-tier town with a world-class school system"

[ca1337]

Originally Posted by matrix5k

This forum is so weird. Why do you people care so much about how others spend their money? So much negativity here. It's "this house is ugly" or "why would anyone spend this much on this house" or "they only put this much down, what if one of them loses their job?". No one has anything nice to say?

This thread is for people who wish they could afford a home at today's prices but can't. It's a venting thread for the most part. A few are trying to bring it back on topic but it's mostly disgruntled people who got left behind. The delusional coping is out of control.

2008 didn't crash the Boston market, this time certainly isn't going to. Boston has fundamentally changed in the early 2000s with the biotech boom and has become one of the most coveted places in the world, with one of the strongest economies of any town globally. That's not changing any time soon.