okay, i'm just floored (Newton, Somerville: houses, neighborhood, buyer)

[Jimbo21]

https://www.redfin.com/MA/Arlington/...4/home/8403972


3 bed, 1.5 bath, 1727 SF. listed $1.095M, sold $1.405M. wtf.

[yesmaybe]

That's Arlington for ya.

[msRB311]

Wow. I mean it's a nice house.. a nice small house...but no just no...that much over asking on an already pushing it (a million for a house that size is crazy, I dont care if it's Arlington)

It sold in 1999 for 312k...that's what i'm talking about. The price to buy a home these days is INSANE. The house is like 5 times the cost of what it was in 1999.

I wonder what this one will end up going for:

https://www.redfin.com/MA/Arlington/...4/home/8424414

[BosYuppie]

Access to Camberville with a bit more space and a well regarded school system. Easy walk to Alewife too.

I would criticize this particular purchase however because that neighborhood could be completely gridlocked at rush hour (Route 2 traffic as reverse-commuters try and get back to Camberville - i used to do this sometimes and it was hell. Dunno about New Normal. Also, the morning commuters driving to Alewife). I also still think you could sneak into Winchester, Newton, Belmont for that price too.

When house hunting about 7-8 years ago we looked at houses that comp well with that in the high 500's-mid 600's.

[Jimbo21]

Originally Posted by yesmaybe

That's Arlington for ya.

full disclosure, i live in arlington and i was certain that i overpaid for my house 6 years ago. guess i was wrong. crappy thing is that i can't upgrade in my own town, it makes no sense. lexington is my likely destination.

[bricka]

maybe they just really wanted to be next door to the chabad center for jewish life?

[lrfox]

Originally Posted by BosYuppie

Access to Camberville with a bit more space and a well regarded school system. Easy walk to Alewife too.

I would criticize this particular purchase however because that neighborhood could be completely gridlocked at rush hour (Route 2 traffic as reverse-commuters try and get back to Camberville - i used to do this sometimes and it was hell. Dunno about New Normal. Also, the morning commuters driving to Alewife). I also think you could get into Winchester, Newton, Belmont for that price too.

When house hunting about 7-8 years ago we looked at houses that comp well with that in the high 500's-mid 600's.

Yeah, I used to reverse commute from West Somerville to my old company's Waltham office this way and it was a mess. Sometimes Broadyway/Mass Ave. to Lake Street is a common GPS alternate to Route 2 when traffic is bad on Alewife Brook Parkway is congested (and it is every morning). But if the buyer could either work from home or walk/bike to Alewife, it's a pretty sweet spot to be. Easy access to town via transit, and relatively easy out on the weekend.

[BostonMike7]

It is a nice house.

[yesmaybe]

Originally Posted by Jimbo21

full disclosure, i live in arlington and i was certain that i overpaid for my house 6 years ago. guess i was wrong. crappy thing is that i can't upgrade in my own town, it makes no sense. lexington is my likely destination.

Given the desire to be close to Kendall for work, it's really not a surprise.

Buyer put 415k down (30%)... could easily be profit from a previous home. And they had to put that much down to get approved.

[msRB311]

Thought it over and 'nice' was maybe too strong a word. Overall it's a fairly average home. Not terrible dated, but certainly not anything new going on or special. I would not spend 1.4 million on that. I don't get the mindset of paying that much to be close to work. Spare me the maybe they work in a lab because maybe they dont. Spending 1.4 mil on a property to be close to work right now at this moment is not the best move. Maybe the owners plan to live there forever...I just can't see that house value going up much more than 1.4 million.