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Old 10-30-2023, 01:08 PM
 
848 posts, read 554,024 times
Reputation: 487

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Quote:
Originally Posted by redplum33 View Post
Typically it depends how it's listed (low, just right, high).


If you have an 800k house listed for 800k...and it sells for 950k then that suggests a strong market.

If you have an 800k house listed for 800k...and it sells for 650k then that suggests a weak market.


But take that same 800k house and list it for 650k. If it ends up selling for 800k (150k over list), that doesn't suggest a strong market. It just means it was listed low.

Or take that same 800k house and list it for 950k. If it ends up selling for 800k (150k under list), that doesn't suggest a weak market. It just means it was listed high.


I have no idea about the 3 houses you pointed out that sold for over list, but it seems to me that the market has been softening during the past month or so.
I can give you a few more data points close to my area, where sold prices are higher than asking prices (800k~1M range).

https://www.redfin.com/MA/Wilmington.../home/11692043
https://www.redfin.com/MA/Burlington...3/home/8460868
https://www.redfin.com/MA/Billerica/...home/187365108


However, there are many counterexamples too.
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Old 10-30-2023, 01:29 PM
 
Location: Boston
2,435 posts, read 1,320,796 times
Reputation: 2126
Quote:
Originally Posted by redplum33 View Post
Typically it depends how it's listed (low, just right, high).


If you have an 800k house listed for 800k...and it sells for 950k then that suggests a strong market.

If you have an 800k house listed for 800k...and it sells for 650k then that suggests a weak market.


But take that same 800k house and list it for 650k. If it ends up selling for 800k (150k over list), that doesn't suggest a strong market. It just means it was listed low.

Or take that same 800k house and list it for 950k. If it ends up selling for 800k (150k under list), that doesn't suggest a weak market. It just means it was listed high.


I have no idea about the 3 houses you pointed out that sold for over list, but it seems to me that the market has been softening during the past month or so.
If a house is listed for 950k and sells for 800k, how do you tell if it's a 950k house in a weak market or an 800k house listed too high?
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Old 10-31-2023, 06:29 AM
 
2,352 posts, read 1,779,566 times
Reputation: 700
https://www.redfin.com/MA/Newton/14-.../home/77492695

TH in Newton that's not selling. As to why? Well.. they are asking for 890k plus it has a $824 HOA fee (ouch). Doesn't seem like you get much for it too. Must be because of repairs and they jacked up the HOA instead of eating it.

They are even offering to pay up 3 years of condo fees, fully knowing how bad that is.
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Old 10-31-2023, 09:36 AM
 
Location: Cohasset, MA
257 posts, read 257,597 times
Reputation: 424
Quote:
Originally Posted by yesmaybe View Post
https://www.redfin.com/MA/Newton/14-.../home/77492695

TH in Newton that's not selling. As to why? Well.. they are asking for 890k plus it has a $824 HOA fee (ouch). Doesn't seem like you get much for it too. Must be because of repairs and they jacked up the HOA instead of eating it.

They are even offering to pay up 3 years of condo fees, fully knowing how bad that is.
Using that Redfin mortgage payment calculator you would be looking at over $7k a month with the HOA included. That’s tough bullet to bite for that place
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Old 10-31-2023, 11:53 AM
 
3,617 posts, read 1,840,863 times
Reputation: 1508
Quote:
Originally Posted by Southshorebound View Post
Using that Redfin mortgage payment calculator you would be looking at over $7k a month with the HOA included. That’s tough bullet to bite for that place
I thought Newton was classier than having satellite dishes hanging off the front of homes?! Guess not. lol
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Old 10-31-2023, 12:19 PM
 
360 posts, read 140,660 times
Reputation: 350
Quote:
Originally Posted by newenglandgal123 View Post
I thought Newton was classier than having satellite dishes hanging off the front of homes?! Guess not. lol
Newton is a city of nearly 90,000 people. There are outrageously expensive neighborhoods there, as well as more working class neighborhoods (even if they're gentrifying rapidly). I'm sure I'm wasting keystrokes here, but you're really painting a picture of a city based on a single property?
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Old 10-31-2023, 12:22 PM
 
15,796 posts, read 20,499,262 times
Reputation: 20974
https://www.lendingtree.com/home/mor...ayments-study/

Average downpayment for a home in metro Boston: $130K
Average HHI in metro Boston : 147K


That's gotta be tough for a first-time home buyer
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Old 10-31-2023, 12:39 PM
 
2,352 posts, read 1,779,566 times
Reputation: 700
Quote:
Originally Posted by newenglandgal123 View Post
I thought Newton was classier than having satellite dishes hanging off the front of homes?! Guess not. lol
If you want Satellite TV, you have to put the dish somewhere. Being a TH you would think the roof would be the best spot but perhaps not.
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Old 10-31-2023, 12:45 PM
 
220 posts, read 116,279 times
Reputation: 429
That will be worth ~$750k in a few months. Primary bedroom in the attic?

And Newton is having serious issues with their public schools and DIE initiatives.
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Old 10-31-2023, 12:54 PM
 
3,617 posts, read 1,840,863 times
Reputation: 1508
Quote:
Originally Posted by Iced_Coffee View Post
Newton is a city of nearly 90,000 people. There are outrageously expensive neighborhoods there, as well as more working class neighborhoods (even if they're gentrifying rapidly). I'm sure I'm wasting keystrokes here, but you're really painting a picture of a city based on a single property?
No, it's just that satellite dishes hanging off the front of homes always bugs me. Looks so cheap, tacky, triple decker style housing you'd expect to see in Lynn or Worcester, not somewhere like posh Newton.
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