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Old 05-11-2022, 03:39 PM
 
Location: Boston
2,435 posts, read 1,317,904 times
Reputation: 2126

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Quote:
Originally Posted by GeoffD View Post
The max jumped $100k in 2022. I hadn't looked at the Massachusetts counties. The five expensive metro Boston counties are $770,500. Dukes and Nantucket are the max $970,800.


The median listing price in Suffolk county was $779k for March. The other counties are a bit lower. So the majority of mortgages in metro Boston could qualify as low down payment conventional mortgages.
Not trying to be pedantic here, but median listing is not the same as sales price. Especially when we start talking the 128 loop and inside it, $800k is the low end. Most of these are going for 7 figures, and those aren’t being financed with conforming.

Last edited by id77; 05-11-2022 at 03:51 PM..
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Old 05-11-2022, 04:02 PM
 
842 posts, read 551,351 times
Reputation: 487
These two houses have about the same price (and the first one will probably end up being sold lower)

https://www.redfin.com/MA/Reading/11...7/home/8704634

https://www.redfin.com/MA/Belmont/5-...8/home/8450167

Would you choose to live in Belmont in this situation? (Obviously someone already did)
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Old 05-11-2022, 05:06 PM
 
24,555 posts, read 18,230,382 times
Reputation: 40260
Quote:
Originally Posted by id77 View Post
Not trying to be pedantic here, but median listing is not the same as sales price. Especially when we start talking the 128 loop and inside it, $800k is the low end. Most of these are going for 7 figures, and those aren’t being financed with conforming.
Sounds pretty pedantic to me.
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Old 05-12-2022, 04:27 AM
 
1,537 posts, read 1,121,777 times
Reputation: 734
Quote:
Originally Posted by msRB311 View Post
We have friends who just paid 1.6 million for a home then added on a pool and an outdoor kitchen which was another 180k. They take plenty of vacations. Wifey doesn't work, takes care of the 3 kids...hubby's linkedin account just says 'equity sales' and i guess that's a field I should have gone into, lol.
Equity sales could mean a few things but he probably doesn't sleep.

Last edited by simplexsimon; 05-12-2022 at 04:35 AM..
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Old 05-12-2022, 06:12 AM
 
16,294 posts, read 8,126,207 times
Reputation: 11327
Default Re

Quote:
Originally Posted by simplexsimon View Post
Equity sales could mean a few things but he probably doesn't sleep.
He coaches two of his kids hockey teams in addition to his job. Wish I could say all he did was work but that doesn’t seem to be the case lol. He did have to miss a big tournament to go out of state recently so I’m not saying he doesn’t work but he has a nice life.
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Old 05-12-2022, 06:16 AM
 
9,873 posts, read 7,197,601 times
Reputation: 11460
Quote:
Originally Posted by MtPleasantDream View Post
These two houses have about the same price (and the first one will probably end up being sold lower)

https://www.redfin.com/MA/Reading/11...7/home/8704634

https://www.redfin.com/MA/Belmont/5-...8/home/8450167

Would you choose to live in Belmont in this situation? (Obviously someone already did)
I'd take the Reading house but that's my choice. Somebody obviously felt the house in Belmont was for them.

Now for $100K less in Reading, there's this house:

https://www.redfin.com/MA/Reading/52...7/home/8702361

Which would you take?
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Old 05-12-2022, 09:00 AM
 
16,294 posts, read 8,126,207 times
Reputation: 11327
This author covered a lot of what we discuss here right down to not wanting to cut down more trees:

https://www.bostonglobe.com/2022/05/...husetts-apart/

I think we could leave the trees alone and try to make other towns better. There should be plenty of life beyond Lexington, Dover, Wellesley. The problem I see in MA is the glorification of the top schools.
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Old 05-12-2022, 09:03 AM
 
1,899 posts, read 1,401,647 times
Reputation: 2303
Quote:
Originally Posted by MtPleasantDream View Post
Would you choose to live in Belmont in this situation? (Obviously someone already did)
8 days a week
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Old 05-12-2022, 09:08 AM
 
1,899 posts, read 1,401,647 times
Reputation: 2303
It has been pointed out that higher interest rates won't cool high price areas due to the preponderance of cash buyers. However, many cash buyers have taken a serious haircut to their net worth over the past month.
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Old 05-12-2022, 09:24 AM
 
15,793 posts, read 20,472,889 times
Reputation: 20969
Quote:
Originally Posted by MtPleasantDream View Post
These two houses have about the same price (and the first one will probably end up being sold lower)

https://www.redfin.com/MA/Reading/11...7/home/8704634

https://www.redfin.com/MA/Belmont/5-...8/home/8450167

Would you choose to live in Belmont in this situation? (Obviously someone already did)

I'd take the Reading home, but i have my reasons.


Obviously folks want to live where the want to live. We all have our reasons and like the expression goes, "There's a butt for ever seat".

There are often towns thrown out on this forum as a "top tier" town that I personally wouldn't want to live in. Not a knock against it, but it's not my preference. I'm sure there's a list of towns I would love to relocate to that others here would scoff at. Just how it goes.

Doesn't surprise me to see "outlier" homes sell. Not everyone is into the same thing.
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