2023 Real Estate Observations (Framingham, Fitchburg, Marlborough: flood insurance, greenhouse, chemicals)

[robr2]

Originally Posted by msRB311

Again - when I've seen homes listed for dollar it's because there's an estate/inheritance thing going on. Who in the hell prices their home at $1? If people do just to see what they get it's a very small number of people.

If the house is part of an estate or inheritance that is going to be transferred for $1, why would it even be listed. Those transactions don't even appear on the MLS.

[msRB311]

Originally Posted by robr2

If the house is part of an estate or inheritance that is going to be transferred for $1, why would it even be listed. Those transactions don't even appear on the MLS.

maybe they aren't listed but I've seen transactions on zillow, etc where something went through for $1. I once lived in a house owned by an old lady who left the house to a caretaker or something and it was sold for $1. I used to be able to see this on zillow but looks like it's gone now.

[newenglandgal123]

On the market for nearly 6 months and still no takers on these. Wonder if the owner is having flipper's remorse? Maybe thought he'd do real good by buying this dilapitated complex in desirable Westwood, modernize all the units and make a killing but looks like that's not happening yet.https://www.zillow.com/homedetails/4...09560087_zpid/
https://www.zillow.com/homedetails/4...13466046_zpid/

[CaseyB]

Originally Posted by newenglandgal123

On the market for nearly 6 months and still no takers on these. Wonder if the owner is having flipper's remorse? Maybe thought he'd do real good by buying this dilapitated complex in desirable Westwood, modernize all the units and make a killing but looks like that's not happening yet.https://www.zillow.com/homedetails/4...09560087_zpid/
https://www.zillow.com/homedetails/4...13466046_zpid/

That's on Rte. !A, very busy around there and not at all residential.

[newenglandgal123]

Speaking of Westwood...this one looks like it belongs in NJ instead! https://www.zillow.com/homedetails/1...pid/?mmlb=g,32

[newenglandgal123]

Originally Posted by CaseyB

That's on Rte. !A, very busy around there and not at all residential.

and a Dunkins right across the street so constant traffic and slowdowns whenever you're trying to pull in/out of your complex!

[simplexsimon]

Originally Posted by newenglandgal123

On the market for nearly 6 months and still no takers on these. Wonder if the owner is having flipper's remorse? Maybe thought he'd do real good by buying this dilapitated complex in desirable Westwood, modernize all the units and make a killing but looks like that's not happening yet.https://www.zillow.com/homedetails/4...09560087_zpid/
https://www.zillow.com/homedetails/4...13466046_zpid/

Interestingly, a thousand feet away are a bunch of condos that have sold for over $800k in the middle of the town center. Wonder what the difference is.

I would think getting in and out would be similarly easy/difficult. It’s not right in the center but it is a $300k difference.

[Iced_Coffee]

Originally Posted by newenglandgal123

and a Dunkins right across the street so constant traffic and slowdowns whenever you're trying to pull in/out of your complex!

Yeah, the location of this little complex is awful. I live nearby and can confirm that it would be a nightmare almost any hour of the day. It's walkable to the commuter rail stop (maybe 7-8 min walk?), but beyond that there's very little to offer, IMO.

[Iced_Coffee]

Originally Posted by simplexsimon

Interestingly, a thousand feet away are a bunch of condos that have sold for over $800k in the middle of the town center. Wonder what the difference is.

I would think getting in and out would be similarly easy/difficult. It’s not right in the center but it is a $300k difference.

The units are also markedly different in appearance. And I think that plays a huge role. One is a purpose-built, multi-use new construction aimed at people with money. The other looks like a subsidized housing complex and appears somewhat run-down. I wouldn't buy into either building, but I think with the newer ones you have people that like the idea of a coffee shop and Italian restaurant being on the ground floor beneath you, as well as it being a new shiny white building. I didn't compare the specs of the condos otherwise, but that may also play a big role.

Edit: I think the condos selling for 800k+ were ridiculous. Of course people can spend what they want, how they want, but I couldn't personally imagine spending that money on such a place. Looks like they got buyers though, even if it was a bit slow-going, as I only see one remaining (for 829k).

[jayrandom]

Originally Posted by CaseyB

That's on Rte. !A, very busy around there and not at all residential.

Originally Posted by simplexsimon

Interestingly, a thousand feet away are a bunch of condos that have sold for over $800k in the middle of the town center. Wonder what the difference is.

I would think getting in and out would be similarly easy/difficult. It’s not right in the center but it is a $300k difference.

The neighborhood behind is absolutely residential. It’s just Rt 1a that is commercial. And it should be noted that this is a “blink and you’ll miss it” sub-town center (Islington, not Westwood). Commercial is only along 1a and is honestly minimal. A Roche Brothers across the street, a few restaurants and a CVS.

I don’t quite understand how the new builds command the price that they do, but they certainly look a lot better than these.