2023 Real Estate Observations (Lawrence, Framingham, Methuen: reality, crime, houses)

[msRB311]

Originally Posted by yesmaybe

$3800/mo is already a lot for a FTBH... and if they need flood insurance that only increases the cost. Plus oil heat.

Commute would start to get a little long although it's close to the Ashland CR stop.

I get that but we hear so many complaints of people not being able to find an affordable home. This is nice home that is in the affordable range in a nice town with very good schools. So...i'm starting to think that people are just pissed if they can't afford an 800k+ home and just say forget it?

[redplum33]

Originally Posted by msRB311

I get that but we hear so many complaints of people not being able to find an affordable home. This is nice home that is in the affordable range in a nice town with very good schools. So...i'm starting to think that people are just pissed if they can't afford an 800k+ home and just say forget it?

I'm not familiar with Ashland. Is it a nice town? Next to Framingham.

The 2013 street view does show what appears to be water damage:

https://maps.app.goo.gl/ULgVNruEy6no2QmZ7

...but if this was a flood area, wouldn't the listing need to say that?

The downstairs ceiling looks low. The top of the door is right at the ceiling.

Is this actually a bargain at almost 600k? What would this house have cost in 2019? I think that's how you need to start looking at things.

[msRB311]

I believe it's one of those towns that became nicer in the 2010s as people were pushed out of pricier areas

[redplum33]

Something else to consider...

Would anyone have bought this house for 1M in 2020 when rates were 3%?

With a 30 year mortgage, a 600k house at 8% ends up being roughly the same cost as a 1M house at 3%.

[Iced_Coffee]

I don't think Ashland has the same cachet as other towns in the vicinity, including even Framingham where I routinely see houses going for surprisingly high prices, and quickly. But I was more thinking of towns like Medway, Holliston, Hopkinton, Southborough, Natick, Sherborn. All towns that either abut Ashland or are in the general area and would generally be considered a step above. Not too familiar with the town other than what I've seen from the car as I've driven through over the years. Each time I felt underwhelmed - it's not an aesthetically pleasing town IMO. Schools aren't great, as far as I recall, but maybe decent?

Ultimately, I think the town is probably totally fine for many people, but I don't know what kind of demand it's seeing or what the target demographic is, so to speak.

[msRB311]

I dont really see anything special about Ashland...but it has risen in popularity the past 15 years or so for families

[newenglandgal123]

Originally Posted by Iced_Coffee

I don't think Ashland has the same cachet as other towns in the vicinity, including even Framingham where I routinely see houses going for surprisingly high prices, and quickly. But I was more thinking of towns like Medway, Holliston, Hopkinton, Southborough, Natick, Sherborn. All towns that either abut Ashland or are in the general area and would generally be considered a step above. Not too familiar with the town other than what I've seen from the car as I've driven through over the years. Each time I felt underwhelmed - it's not an aesthetically pleasing town IMO. Schools aren't great, as far as I recall, but maybe decent?

Ultimately, I think the town is probably totally fine for many people, but I don't know what kind of demand it's seeing or what the target demographic is, so to speak.

I don't think Ashland is anything great...I mean right next to crime ridden Framingham? It is close to the posh W towns and Newton though so maybe it's where people who want W towns go who can't afford them?

[msRB311]

Ashland is bordered by Sherborn on the East, Framingham on the North, Southborough on the West and Northwest, and Hopkinton and Holliston on the South.

[CaseyB]

Ashland had a toxic waste site that I guess has been cleaned up. Of course that doesn't explain why other properties there are selling well and not this one.

[gf2020]

Originally Posted by redplum33

It would be nice if we could have an honest discussion about the current real estate market.

I get it, some people are very concerned about their investment, but what I saw on here yesterday was stomach turning.

What did I miss?