Home Buying in 02155>Question Details

Fayez Almulla, Home Buyer in 02155

I am interested in buying an apartment in 100 Station Landing Medford MA. The asking price is $625,000. It is 2bed 2bath & 2 parking spots.

Asked by Fayez Almulla, 02155 Wed Oct 28, 2009

I am interested in buying an apartment in 100 Station Landing Medford MA. The asking price is $625,000. It is 2beds, 2baths & 2 parking spots. living area is 1,260. Does it worth it?

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Charlotte Scuderi’s answer
Hello Fayez, this area has become very popular because of easy access to the train and highways. The accessability to local restaurants and stores is also a plus. I would be happy to speak with you and take you to see the units that are available. Have you had an opportunity to speak with a bank or mortgage company to be pre approved?
I can be reached by e mail: charlotte@charlottescuderi.com
cell 781 866-1269
fax 1 815 301-5429
Thank you for your inquiry Charlotte Scuderi, Realtor
0 votes Thank Flag Link Tue Dec 8, 2009
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0 votes Thank Flag Link Wed Nov 25, 2009

All info listed here is correct - based on the comparatives I think you can offer a lower amount and negotiate from there.

I am an Accredited Buyers Agent and would happy to help you.

Give me a call.

Susan - AMS Real Estate 774-526-2457 774-264-9117
0 votes Thank Flag Link Wed Oct 28, 2009
Fayez, I actually lived in a Station Landing 2bd 2 bth apartment a few years ago and was looking into purchasing at Station Landing when they were asking $900k. Ultimately, I purchased in the South End of Boston but Station Landing has to be one of the most convenient locations from BSC to Sushi to Kelly Roast Beef... all the luxury's.


Mark Warren
0 votes Thank Flag Link Wed Oct 28, 2009

How are you? This questions would be best suited for your buyer's agent, for he/she would conduct a comparative market analysis of the unit in the area. As previously mentioned posts by others, that selling price would be setting precedence in the market within the past year, and depending on how you intend to finance the purchase, if through a lender, they would be reluctant to do so. But again, best recommendation is engage the services of a buyer's agent, they will guide you through the process.

Best regards,

Peter J. Mlaguzi III
C: 617-233-1476
F: 617-395-6867
0 votes Thank Flag Link Wed Oct 28, 2009
This is when it's important to have a local agent who understands the specific property. If the unit at Station Landing is located at the front of the building facing the river (ending in 11 or 12) then they sell at a premium because of the Boston and river views from the living room. Also none of the sales in the building in the last 6 months have had a 2nd parking space. You can't compare Station Landing to any other condo building here in Medford.
0 votes Thank Flag Link Wed Oct 28, 2009
It's new construction and has alot of interest in the area. They are among the highest priced properties in Medford. It all comes down to your finances, living style, employment and future plans. Some adjustments might be made for the specific unit view etc. as with everything it's negotiable.

Hope that helps
Web Reference: http://www.MedfordHouse.com
0 votes Thank Flag Link Wed Oct 28, 2009
In the last year not one condo has sold in the $600-$700 price range in Medford which tells you that apartment will be an unprecedented sale price in that range. That means you will be buying a property that is priced way out of the market and therefore could be hard to re-sell. There is another condo under agreement in station landing in the low $300's that is a one bedroom but remember in real estate smaller condo's tend to sell for higher prices per square foot because it is a more competitive/affordable price range. Only 3 condo's have sold in the last year in the $500-599 price range which isn't a lot. The average sale price for condo's in Medford is $291,000. While the parking is great and valuable we aren't talking Boston parking values.

Seems to me there is a real risk of over paying for this condo.

If you want some good valuation advice (not the hassle of full service traditional agent ) feel free to contact us: help@territoryre.com or call 617 848 5407 extension 704 We only keep a flat fee from our commission and rebate the rest to our clients. On average about $10,000 cash rebate. It is a catered service with huge savings.
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0 votes Thank Flag Link Wed Oct 28, 2009
Hi Fayez,

It depends on many factors. The most expensive recent sale at Station Landing was Unit 1204 (a 1455 square foot top floor unit) that sold in August for $592,500. However, this unit was near the back of the building (away from the river) and only had one parking spot. Ar you working with a buyer's agent? A good buyer's agent will go over all of the recent comparables with you to make sure you're not overpaying. There's also another check and balance when the bank's appraiser comes to the property, but that won't happen until weeks after your offer is accepted.

I am selling a unit at Station Landing now and am very familiar with the project if you don't already have a buyer's agent.
Web Reference: http://www.DebOnTheWeb.com
0 votes Thank Flag Link Wed Oct 28, 2009
Hi Fayez,

Are you certain this is a condominium listing? It seems overpriced and more reflective of a multifamily. Do you have any more information on the listing such as where you found it? Here is the only active condo listing in Station Landing right now according to MLS:


I hope this is helpful. -Mary
0 votes Thank Flag Link Wed Oct 28, 2009
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