I forgot

[dancerjodi]

When I got to my parent's house yesterday my Mom mentioned that a house around the corner on Tolman Street was up for sale. Its in Newton, right over the line (i.e. like 15 houses from my parent's house). I figured, what the hell - its a small house, and is in one of the cheaper parts of Newton. After the Waltham open house we dropped off Tiggerette at home, dropped off the car at my parent's house, and my Dad and I walked down.

Its a 3 bedroom bungalow (one floor) that my Dad's first girlfriend lived in when they were kids (hee hee, small world). The asking price? $469k. Yikes! My dad was floored. The rooms were small save for the family room in the back, the house wasn't even totally painted (one side and the back were all peeling) and there was basically no yard. Their "office" was the front porch, which had some kind of electric heater in it. The realtor acted a lot like the one at the house in West Newton that we went to last week, doing a whole soliloquy on the house and area and such. I have yet to see a broker do this in another town.

Here it is - this kind of drives home the differences between towns despite their proximal location. My parents house is literally a 1 minute walk from here in Waltham, and despite Waltham having become overinflated over the years you'd never see a house that small, of that type for that price in the Watch City.

http://www.newenglandmoves.com/Listings/SingleFamily_NewEnglandMoves.htm?id=1007170273

This whole home sale and search process is becoming almost comical. I think laughter is what keeps us sane. Someone came yesterday, not interested in making an offer (and was the first person to say that they thought the house was overpriced, and the that interior was "average" as opposed to "above average"). Since this conflicts with what all of the others would say I'm trying to not take it all that seriously. Someone is coming tonight at 5:00 too. At least seeing a lot of activity is good, but it would be nice if someone would make an offer though . . .

Oh, I'm almost done with draft #1 of my Master's Paper, whoot! When I'm done with this draft I'll wait till Wednesday to get the comments from my preliminary data analysis paper, make any last edits, and pass in the official draft to my professors on April 28th. Thus, its looking like I'll get my Evaluations final paper done by the last class, definitely! Free time - here I come!

Comments

[rojagato.livejournal.com]

Considering the state of real estate in Mass, have you considered just concentrating on getting your house sold as soon as possible, then riding out the last of the bubble in a rental? I'm not sure what a good strategy would be, since I'd think that people who were considering selling would then hold on to their property when the bubble bursts.

Nope,

[dancer.livejournal.com]

"I'm not sure what a good strategy would be, since I'd think that people who were considering selling would then hold on to their property when the bubble bursts."

Before we owned a house we owed around $4k a year in taxes. Now we get around $5k back . . . so renting would prove to be an expensive step to take.

I'm guessing that once the bubble bursts people will need to hold onto their property, since they won't be able to afford to sell for what they owe on it. That's the reason we're trying to sell now - if the bubble bursts we don't want to be stuck in Framingham.

[dionysios.livejournal.com]

then riding out the last of the bubble in a rental?

Unfortunately, I don't know if there is a bubble. You would think that there should be.

I know I've heard people on NPR saying that:
1.) There is a bubble, and it'll burst any day now.
2.) There's so little new housing available, that there is not a bubble.
3.) The bubble should have burst right after the dotcom bubble burst, and since it didn't then, it won't know.

I dunno. Personally, I suspect that most people only look at total monthly payments, so with interest rates this low, they're not really concerned about price. If interest rates rise, prices may fall, keeping the total monthly payment close to the same.

But that's only an idea. I'm not an economist. :)

Personally, I hope that there is a bit of a bubble, so that my friends can buy a house they like, and don't decide to leave the boston area. I know i'm not moving, and can afford my mortgage. :)

[tiamatlady]

re: average vs above average - *speechless*

Would it be at all helpful to put out pictures of "befores" especially of the kitchen, like a book outin the living room that if the potentials want to look at they can? I don't know what your realtor would say tho. That kitchen is SPECTACULAR. Everything is new! how can someone say it's not fabulous?

*shakes head* some people just don't understand value. It's like the people on Amazon who bought some books of mine, thinking they were getting a deal, but then didn't like what they got. They tried to rob me, then got mad when they didn't. No More Buyers like that for you!!!

Pictures

[dancer.livejournal.com]

"Would it be at all helpful to put out pictures of "befores" especially of the kitchen, like a book outin the living room that if the potentials want to look at they can?"

I don't think so - why would they care what it used to look like? They'd be buying it for what it is now . . . also, we don't have the permits to back up the work (heh).

"*shakes head* some people just don't understand value. It's like the people on Amazon who bought some books of mine, thinking they were getting a deal, but then didn't like what they got. They tried to rob me, then got mad when they didn't. No More Buyers like that for you!!!"

Well, the realtor that showed the house yesterday was from Newton/Needham, so I wonder if the buyer figured they were in the ghetto, and that the house was overpriced for the ghetto. Our house is priced higher than the others right in our neighborhood that are for sale . . . but its also larger and is fully restored (while none of the others are).

I know we'll find someone - the average sale time in Framingham is 45 days (unlike in Waltham which is a week). So not having a buyer now isn't really a suprise (it would just be nice to have a buyer now, so we didn't have to think of that part of the equation anymore).

Re: Pictures

[tiamatlady]

Yeah, that sounds about right.
I'm not worried, you should have fresh influxes of buyers, especially now that the weather's better.

*big hugs* I know this is bugging you a lot. Hang in there.

Oh and a pedicure tangent *grins* I have a hair/manicure/pedicure appointment on May 1 at 10AM - you want to come with me for a pedicure? I'm going to get all dyed and dolled for the Wedding. It might actually be the best time, since I already have the appoinment, and you're very busy with the paper. Let me know how it sounds to you, K?

Re: Pictures

[dancer.livejournal.com]

"Oh and a pedicure tangent *grins* I have a hair/manicure/pedicure appointment on May 1 at 10AM - you want to come with me for a pedicure?"

Sure! Just a pedicure is good for me . . . I'll go for the fancy schmancy $50 one.

Just confirm the time for me (and let me know how you want to do this . . . I'm guessing I'd just pick you up and we'd head over?)

When is the wedding? That day?

[jetgrrl01.livejournal.com]

Gah, will somebody really pay that much for that? It's just frightening...

What?

[deadwinter.livejournal.com]

Its a 3 bedroom bungalow

You have GOT to be kidding.

interior was "average"

This is, of course, negotiating bullshit. No one seriously believes that.