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Old 03-18-2023, 01:53 PM
 
3,620 posts, read 1,840,863 times
Reputation: 1508

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Quote:
Originally Posted by jayrandom View Post
No one is happy to have to pay an extra $300k for something, but they understand the alternative is not getting the thing. This is what happens when demand exceeds supply. Prices go up. They go up until demand drops enough that it meets supply. You won’t get people paying outrageous unless the alternative is not getting anything. The person only willing to pay $275k more got nothing.
I just don't see the rationalization for someone to have to offer $300K over list though! What makes them think the other parties who were making an offer were even going to go as high over list? I mean maybe they were only going to offer full list price and had to get a mortgage versus party B who could have also offered full list but was paying cash and could have just as easily 'won' the house and been the more favorable offer that way. Why waste money if you don't need to regardless of if you have it or not? All seems so silly to me and goes to show just how much houses are financial commodities versus social goods.
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Old 03-18-2023, 02:01 PM
 
3,620 posts, read 1,840,863 times
Reputation: 1508
Quote:
Originally Posted by matrix5k View Post
Did I say a grad degree was required for everyone?? Obviously it depends on the field. Of course there are high earners with bachelor's degrees or even no degree but in general the higher the degree, the higher the average salary. I can't believe I have to explain this. Teachers require grad degree there days. PA, NP, pharmacist, physical therapist, optometrist all require grad degree now. I am the entitled one for saying MA home prices are overpriced? Okay.

You know what's so cringe? The fact that you don't want to have an open house because you're worried about nosy neighbors, when you're the nosiest person here! I don't know anyone else that looks up people's mortgages and down payments in their free time like you do. You spy on people everyday for "market research". Just because it's public information doesn't make it less stalkerish.
I agree that MA home prices are overpriced. I never said you were entitled for saying that. I said the fact that you saying you went thru grad school,making it sound like that automatically guarantees you're a shoe in for a higher salary and a house too. It doesn't work that way! I'm sorry to say but there are folks out there who went to Harvard who found themselves in homelessness after graduating. Education-higher degree doesn't mean an automatic high salary or home ownership!


There are lots of posters here who look up people's mortgages....I think we've already addressed this and others have chimed in in the past as to why they do it too.
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Old 03-18-2023, 02:03 PM
 
Location: Westwood, MA
5,037 posts, read 6,923,971 times
Reputation: 5961
Quote:
Originally Posted by newenglandgal123 View Post
I just don't see the rationalization for someone to have to offer $300K over list though! What makes them think the other parties who were making an offer were even going to go as high over list? I mean maybe they were only going to offer full list price and had to get a mortgage versus party B who could have also offered full list but was paying cash and could have just as easily 'won' the house and been the more favorable offer that way. Why waste money if you don't need to regardless of if you have it or not? All seems so silly to me and goes to show just how much houses are financial commodities versus social goods.
That much over list is almost certainly a bidding war or at least fear of one. I see houses intentionally underpriced in hopes of getting multiple parties to compete against each other. On the seller’s side the hope is to find the person who values the house the most and make them pay top dollar. As a buyer I would try to avoid those sorts of houses. Of course, they are probably popular for a reason.

And I think we have a very different understanding of economics. If you are buying something you get utility out of I would hardly call the purchase a waste. Rarely do people so grossly outbid for a house that they’re truly “wasting” that money. It’s a tight market and prices go up when supply is low.
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Old 03-18-2023, 02:47 PM
 
23,561 posts, read 18,707,417 times
Reputation: 10824
Quote:
Originally Posted by yesmaybe View Post
Yeah... but where would you work.

What do you mean, "where will they work"??? Columbia is a city and home to the state capitol and flagship university. I also believe Lexington is where they have a big Michelin plant.
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Old 03-18-2023, 02:50 PM
 
Location: Columbia SC
14,249 posts, read 14,740,927 times
Reputation: 22189
Quote:
Originally Posted by yesmaybe View Post
Yeah... but where would you work.
For the sake of a conversation. Starting teacher salary with a Masters is $46K. Say a married couple who are both teachers this is an income of $92K per year. Not shabby. That $300K house is easily in reach.
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Old 03-18-2023, 03:02 PM
 
Location: Massachusetts & Hilton Head, SC
10,020 posts, read 15,665,421 times
Reputation: 8669
Quote:
Originally Posted by massnative71 View Post
What do you mean, "where will they work"??? Columbia is a city and home to the state capitol and flagship university. I also believe Lexington is where they have a big Michelin plant.
It is, but unless you are on the coast or in the mountains, prepare for absolutely miserable summers. You have to be careful, certain areas have a whole lot of crime, too.
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Old 03-18-2023, 03:19 PM
 
16,395 posts, read 8,187,139 times
Reputation: 11378
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Quote:
Originally Posted by CaseyB View Post
It is, but unless you are on the coast or in the mountains, prepare for absolutely miserable summers. You have to be careful, certain areas have a whole lot of crime, too.
There's crime in the Boston area too and people pay way more to live here
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Old 03-18-2023, 03:45 PM
 
2,352 posts, read 1,779,566 times
Reputation: 700
Quote:
Originally Posted by CaseyB View Post
It is, but unless you are on the coast or in the mountains, prepare for absolutely miserable summers.
It's not Orlando. Can't imagine it's worse than Boston winters.

Quote:
You have to be careful, certain areas have a whole lot of crime, too.
This is however very true. Columbia seems legit scary.
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Old 03-18-2023, 04:50 PM
 
2,352 posts, read 1,779,566 times
Reputation: 700
https://www.redfin.com/MA/Milton/131...home/179497335

Here's an example of a NC condo in Milton which looks rather nice. Right on the Red Line albeit the Trolley. Of course they also want 776k, which is why it's not selling. And that's after 2 price cuts.

Imagine trying to sell something like this in Brockton or Weymouth or something.
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Old 03-18-2023, 05:42 PM
 
1,540 posts, read 1,125,040 times
Reputation: 734
Quote:
Originally Posted by msRB311 View Post
There's crime in the Boston area too and people pay way more to live here
A family friend who lives here and has a daughter that goes to USC and has visited Columbia many times says that it is way worse there than Boston. The online crime statistics seem to support that. And Boston has way more jobs and much higher paying jobs. It all goes together.
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