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Old 04-03-2023, 03:11 PM
 
Location: Westwood, MA
5,037 posts, read 6,923,971 times
Reputation: 5961

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Quote:
Originally Posted by newenglandgal123 View Post
We will all be sure to tell yesmaybe he was right if there is a crash. However, how can there be a crash when demand is greatly outpacing supply and has been for quite some time now? I'm still seeing things going for $25-300K over list on recently solds...not just metro west towns either....all over.
Everyone knows there will eventually be a correction. You only get points for getting the timing right. I had people telling me to hold off for a market correction when I was looking in 2014. I’d imagine there’d have to be a serious crash to return to 2014 prices.
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Old 04-03-2023, 06:36 PM
 
24,559 posts, read 18,259,472 times
Reputation: 40260
Quote:
Originally Posted by jayrandom View Post
Everyone knows there will eventually be a correction. You only get points for getting the timing right. I had people telling me to hold off for a market correction when I was looking in 2014. I’d imagine there’d have to be a serious crash to return to 2014 prices.
One of the fairly recurring themes here is that the Boston real estate somehow defies gravity. It will correct at some point but my magic eight ball has been useless at predicting when. When things corrected at the S&L meltdown, the most desirable places didn’t correct much and the less desirable places got hammered. I figure that’s likely the next time.
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Old 04-03-2023, 06:46 PM
 
1,541 posts, read 1,125,554 times
Reputation: 740
I think it would need double digit unemployment or mortgage rates or both.
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Old 04-04-2023, 08:04 AM
 
66 posts, read 47,128 times
Reputation: 94
I think this *is* the correction. Prices are flat or even down a little YoY. Prices are not going down to 2014 levels. If they do, we have major problems.
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Old 04-04-2023, 09:06 AM
 
15,799 posts, read 20,504,199 times
Reputation: 20974
Whats the foreclosure and short-sale market look like these days? Is there any sort of metric that tracks that locally?
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Old 04-04-2023, 01:31 PM
 
3,626 posts, read 1,844,995 times
Reputation: 1512
Quote:
Originally Posted by BostonMike7 View Post
Whats the foreclosure and short-sale market look like these days? Is there any sort of metric that tracks that locally?
I don't know where one would find an official metric but if you go on zillow you can filter listings by 'foreclosures.' I think I've seen one the last few weeks when browsing. Short sales are usually noted in the listing write up b/c it will usually say 'Bank approved short sale.' I haven't noticed any of those either.
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Old 04-04-2023, 03:36 PM
 
Location: The Moon
1,717 posts, read 1,807,780 times
Reputation: 1919
You can search the register of deeds by recorded date, looking for an order of notice.
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Old 04-04-2023, 05:32 PM
 
3,626 posts, read 1,844,995 times
Reputation: 1512
Quote:
Originally Posted by wolfgang239 View Post
You can search the register of deeds by recorded date, looking for an order of notice.
That would take a very long time to randomly search for foreclosures that way though lol
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Old 04-04-2023, 09:27 PM
 
16,412 posts, read 8,198,277 times
Reputation: 11403
This house is a good size but it's nothing special:

https://www.redfin.com/MA/Norwood/65...B&gclsrc=aw.ds

925k to live in Norwood. Welcome to MA.
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Old 04-05-2023, 03:35 AM
 
Location: Westwood, MA
5,037 posts, read 6,923,971 times
Reputation: 5961
Quote:
Originally Posted by msRB311 View Post
This house is a good size but it's nothing special:

https://www.redfin.com/MA/Norwood/65...B&gclsrc=aw.ds

925k to live in Norwood. Welcome to MA.
One thing I've noticed is that more recently the price premium between Norwood and Westwood has evaporated.

$740k in Westwood

$800k in Norwood
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