2023 Real Estate Observations (Boston, Norfolk: casino, sale, to rent)

[msRB311]

Originally Posted by massnative71

Of course the loss of WFH is a possibility, it's just pretty unlikely one would sell at such a loss for only that reason.

Seriously

[msRB311]

Originally Posted by redplum33

I don't think it's unusual at all for people to move when they can no longer WFH.

We get it. You've clearly made up your mind on that.

I don't know anyone who's been 'forced' back 5 days a week. My next door neighbors moved in in 2021 and at the time they were completely WFH and now they go in once a week. A reasonable employer isn't going to make someone come in 5 days a week after being remote for so long. No one is going to sell because of a 1 day a week commute.

This wfh argument/debate and assuming people are selling over loss of wfh is exhausting. I have not once heard of a situation where someone sold a home they had recently purchased because they had to return to the office.

Maybe they hated the town, the more neighbors but it's more likely they got divorced or someone died. A long commute is not a reason to take that kind of loss. Maybe someone lost a job. So many reasons other than the dreaded goddam wfh was taken away

[redplum33]

Originally Posted by redplum33

I don't think it's unusual at all for people to move when they can no longer WFH.

Originally Posted by msRB311

We get it. You've clearly made up your mind on that.

I don't know anyone who's been 'forced' back 5 days a week. My next door neighbors moved in in 2021 and at the time they were completely WFH and now they go in once a week. A reasonable employer isn't going to make someone come in 5 days a week after being remote for so long. No one is going to sell because of a 1 day a week commute.

This wfh argument/debate and assuming people are selling over loss of wfh is exhausting. I have not once heard of a situation where someone sold a home they had recently purchased because they had to return to the office.

Maybe they hated the town, the more neighbors but it's more likely they got divorced or someone died. A long commute is not a reason to take that kind of loss. Maybe someone lost a job. So many reasons other than the dreaded goddam wfh was taken away

Who is We? And it has nothing to do with clearly making up my mind about anything. It's simply reality despite you not knowing anyone personally who has moved.

You seem really angry.

And divorce is very likely more of a problem than the cost associated with moving closer to work. In some/many cases, neither the husband or wife would be able to afford a house if they got divorced.

The bottom line is that none of us have any idea why these people are selling, and losing WFH is as valid a theory as any other that has been presented.

[yesmaybe]

Originally Posted by msRB311

This wfh argument/debate and assuming people are selling over loss of wfh is exhausting. I have not once heard of a situation where someone sold a home they had recently purchased because they had to return to the office.

Say they lose their job and their new job is mostly in person.

[msRB311]

You seem angry too lol. Offended by the head slap one. Anyone who bought a house because they could suddenly work from home was not smart. They had to have known there was a chance they'd have to go back. I really don't think anyone would sell a house at a loss like that because of having to return to an office in Boston. Maybe they had to go to another state or as I said lost a job. Most people would just suck it up for a few more years

I don't think losing wfh is a reasonable explanation for selling a house so quickly

[msRB311]

Originally Posted by yesmaybe

Say they lose their job and their new job is mostly in person.

I mentioned that. Maybe they lost a job. I still don't buy selling a house because the job is in person in Boston. It's not that far.

[redplum33]

Originally Posted by msRB311

You seem angry too lol. Offended by the head slap one. Anyone who bought a house because they could suddenly work from home was not smart. They had to have known there was a chance they'd have to go back. I really don't think anyone would sell a house at a loss like that because of having to return to an office in Boston. Maybe they had to go to another state or as I said lost a job. Most people would just suck it up for a few more years

I don't think losing wfh is a reasonable explanation for selling a house so quickly

I'm not angry at all. But you're right that I didn't care for that head smack.

I disagree it wasn't a reasonable theory. I'll repeat:

Originally Posted by redplum33

4/27/2023 Listed for sale
$849,900

5/16/2023 Listing removed
$849,900

10/26/2023 Listed for sale
$849,000

If you recall, May 11 or 12 is when all restrictions were removed. The people living in that house may have been told in April that their WFH would end on May 11 or 12. It very well could be why the house was listed on April 27. And after 3 weeks of getting no bites at a 60k loss, they may have decided they'll just deal with the commute. Fast forward 5 months, tired of the commute, the house goes back up for sale.

[newenglandgal123]

It looks like they put around $200K down when they bought it...so even if they sell it at this big loss...they'll still be walking away with around $100K after the sale closes. I wouldn't want to lose $100K though on a home sale....I'd try every avenue to wait it out until conditions improved and attempt to sell it at a break even or profit.

[redplum33]

Originally Posted by newenglandgal123

It looks like they put around $200K down when they bought it...so even if they sell it at this big loss...they'll still be walking away with around $100K after the sale closes. I wouldn't want to lose $100K though on a home sale....I'd try every avenue to wait it out until conditions improved and attempt to sell it at a break even or profit.

Imagine if it's a divorce situation. They'd both need to find a house with only 50k. Unlikely either of them could afford the monthly payments.

[yesmaybe]

The only other thing about that place is that it's been bought and sold a bunch of times. For a newish place that seems a bit odd.