2023 Real Estate Observations (Boston: visiting, Sunday, competitive)

[redplum33]

It would be nice if we could have an honest discussion about the current real estate market.

I get it, some people are very concerned about their investment, but what I saw on here yesterday was stomach turning.

[msRB311]

Originally Posted by redplum33

It would be nice if we could have an honest discussion about the current real estate market.

I get it, some people are very concerned about their investment, but what I saw on here yesterday was stomach turning.

You have some issues dude. I get the impression you have a lot of hatred or something towards home owners? I dont get it. I have said before I AM NOT MOVING anytime soon, I will probably DIE in my home so I don't really care about my 'investment'. I am amazed by what people continue to pay for a home and I've said that many times. What exactly is stomach churning to you? People are selling homes for a LOT of money still.

Personally i'd love to see prices on the cape plummet so maybe I could buy something. I'm sure that pisses cape home owners off and I don't actually think prices will plummet.

I can assure you, Im always honest. The MA real estate market is STILL a sellers market. I would not want to be buying right now.

[Iced_Coffee]

Originally Posted by redplum33

It would be nice if we could have an honest discussion about the current real estate market.

I'm not seeing anything terribly different than in prior years. The only real difference is the average price is higher this year, while inventory right now is low (although still a bit higher than this time of year in 2021). Declining prices this time of year is not really new. Looking at the data below that I pulled from Lamacchia Realty, 2022 and 2021 showed more or less the same pattern in terms of seasonal price softening. So while we might be at the cusp of a larger-scale decline (I'm not the expert and won't claim to know one way or another), the current data in MA at least doesn't seem to show anything unusual. I'd be interested in other data/reports that indicate otherwise, though.

https://www.lamacchiarealty.com/ma-r...mote-ue-item-7


edited to add quote

[redplum33]

Originally Posted by msRB311

You have some issues dude. I get the impression you have a lot of hatred or something towards home owners?

I am a home owner. Fully paid for.

I don't care for the nonsense I saw on here yesterday.

[redplum33]

Originally Posted by Iced_Coffee

Declining prices this time of year is not really new.

This isn't seasonal.

[StuartM1]

Listings on the cape under 500k are way up vs 9 mos ago. 9 mos ago there was nothing available in Orleans, Chatham, Harwichport. This winter could be interesting, especially if you need to finance some at ~7.5% and rates increase to ~10% over the next year. That would be a win. You sold right, you upgraded with what you bought, you have a reasonable rate.

The obsession with Marshfield Hingham Scituate Cohasset I will never understand. The beaches are recipients of sewage outflows from boston. They are crowded and the vibe is always uptight, rude, loud, etc. Yech.

[msRB311]

Originally Posted by redplum33

I am a home owner. Fully paid for.

I don't care for the nonsense I saw on here yesterday.

what nonsense?

We are all home owners on here having a discussion.

[Iced_Coffee]

Originally Posted by redplum33

This isn't seasonal.

I'm interested in seeing the data to support this. I've seen price drops on some meh houses that have been overpriced by sellers thinking things are still skyrocketing upward, but that's mostly anecdotal and I haven't worked through the data to figure out if that means the market is now dropping or if it just means that those selected listings were priced poorly. I've also seen houses with multiple offers and extremely busy open houses. So it's hard to really get a sense without seeing real data. From the (admittedly simplified) data I linked to, nothing seems particularly outside the realm of seasonal fluctuation. It's a weird place for sure, with inventory so low and rates so high - which is why I won't claim to know which way things will ultimately fall.

[msRB311]

Originally Posted by StuartM1

Listings on the cape under 500k are way up vs 9 mos ago. 9 mos ago there was nothing available in Orleans, Chatham, Harwichport. This winter could be interesting, especially if you need to finance some at ~7.5% and rates increase to ~10% over the next year. That would be a win. You sold right, you upgraded with what you bought, you have a reasonable rate.

The obsession with Marshfield Hingham Scituate Cohasset I will never understand. The beaches are recipients of sewage outflows from boston. They are crowded and the vibe is always uptight, rude, loud, etc. Yech.

Cohasset beach goers are rude and loud? It's a very desirable town.

last time i checked there is no beach in Hingham....but yes this it has always been a desirable town that people want to live in. The schools are also excellent.

I don't get the obsessions with Nantucket, but tell that to people who pay 40k a week to vacation there.

I dont get the 'obsession' and the overpaying of living in MA in general. I have no desire to move anywhere else at this point in time but I cant help but chuckle at what people to pay to live here.

[msRB311]

Let me know when prices go down to normal levels...for real.