2023 Real Estate Observations (Worcester, Springfield, Westfield: laid off, reasonable, hybrid)

[matrix5k]

Originally Posted by massnative71

Somebody else said it won't buy you much of a house in MA, which is accurate.

So we agree then.

[matrix5k]

Originally Posted by newenglandgal123

$50K toward a house in MA doesn't really make a dent in lowering your monthly payment unless you're buying like a $250K house which doesn't really exist here. However, $50K cash just sitting in the bank for kicks and giggles is a lot to a lot of people considering most folks don't even have $1k to cover an emergency.

Yet there are people buying houses with cash. 50k in a savings account earns $2500/year now so it's not just sitting there.

[newenglandgal123]

Originally Posted by matrix5k

Yet there are people buying houses with cash. 50k in a savings account earns $2500/year now so it's not just sitting there.

There are but I'd be willing to bet there are more people out there who can't buy a house with cash than those who can. It's just that this state attracts a lot of extreme wealth from all corners of the US and the world so it seems like everyone is buying a house with cash here.

[matrix5k]

https://www.boston.com/real-estate/r...to-buy-a-home/

Andover, Attleboro, Shrewsbury and Westfield made the list.

[Saguarogirl507]

Originally Posted by matrix5k

https://www.boston.com/real-estate/r...to-buy-a-home/

Andover, Attleboro, Shrewsbury and Westfield made the list.

I saw that......Westfield? Apparently that is near me here in the middle-of-nowhere-Massachusetts.

Good lord.

[simplexsimon]

Originally Posted by Saguarogirl507

I saw that......Westfield? Apparently that is near me here in the middle-of-nowhere-Massachusetts.

Good lord.

Just keep in mind the methodology for the list. From the source link:

Realtor.com’s Hottest Zip Code rankings take into account two aspects of the housing market: 1) market demand, as measured by unique viewers per property on Realtor.com, and 2) the pace of the market as measured by the number of days a listing remains active on Realtor.com. The hottest areas are those that have high demand from buyers, in other words, lots of unique viewers per each property listed for sale, and fast-selling homes, an indicator of limited supply.

[msRB311]

I don't pay much attention to these lists but it's interesting some of the towns listed. Could be people migrating to towns that don't have such crazy prices given the times.

[Saguarogirl507]

Originally Posted by msRB311

I don't pay much attention to these lists but it's interesting some of the towns listed. Could be people migrating to towns that don't have such crazy prices given the times.

But this begs the question, Where are they working? There is not much out here besides cows and tobacco fields.

Someone on this forum once called Hatfield hayfield and that about sums it up.

[newenglandgal123]

Originally Posted by Saguarogirl507

But this begs the question, Where are they working? There is not much out here besides cows and tobacco fields.

Someone on this forum once called Hatfield hayfield and that about sums it up.

WFH is stil going strong....folks could be employed by any number of companies. The risk is, when you go that far out, what happens if you lose your current WFH role or decide you don't like it and want to switch companies, how easy is it to find another WFH gig that will still allow you to pay your mortgage and expenses?

[msRB311]

There is still WFH yes.

Maybe more families are making a decision to have one person working to commute into Boston to get paid and the other person stays home.