Home Buying in 01581>Question Details

T Mack, Other/Just Looking in Hopkinton, MA

Real estate Forecast for Metrowest for summer of 2011 NO REALTORS PLEASE

Asked by T Mack, Hopkinton, MA Tue Jun 7, 2011

Curious what non-realtors are thinking will happen to real estate in Hopkinton, SB, NB and WB this summer and beyond

Also why is Trulia taking down some interesting, but negative threads concerning the real estate market lately?? Bordering on censorship. I predict this one will be taken down too.

Again, please no responses from realtors, would prefer to hear from buyers and sellers in the above markets.

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Answers

8
Since you posted this question rates have fallen nearly half of a point. If anything positive was happening in the RE market rates would have stayed around 5 or even risen.
Also notice the little "updates" about metrowest sales have disappeared lately, this is b/c the numbers are disturbing to realtors.

The second part of your question is more interesting. I have also noticed that Trulia (and Zillow) will take down negative slanted posts about the RE market, even those lacking attacking or rude lingo.
0 votes Thank Flag Link Mon Sep 12, 2011
Market will go down in these towns for sometime.

I live in Westboro and was fortunate to be forced to sell a house in Westborough near the peak. I relocated in 2005 and recently returned to WB. I have been looking for a while but will hold out as the prices still are declining.
0 votes Thank Flag Link Fri Sep 2, 2011
Very clear now market has slipped. I know a RE attorney who is really struggling this year. No new buyers, very few re-fi's
0 votes Thank Flag Link Mon Jul 11, 2011
Reverse bidding war happening in Uhlman Farms

Notice how many houses are on the market in this area. In one stretch of road 3 houses of 6 are on the market, one of them lacking a for sale sign. What a ploy. Get ready for homes to sale in the mid to low 500s
0 votes Thank Flag Link Tue Jun 21, 2011
There is absolutely no doubt about it the market is sinking in these towns.
Take a look at the tactics agents are using now:

Falsely marketing properties (3BR as 4BR, putting "Fales" in the listing when they are Armstrong)

Another one I find interesting is that there are a couple of Neighborhoods with an unusually high number of homes on the market. One agent recommended to their client (friend of mine) that they NOT put a for sale sign in their yard because 3 others within an 1/8 of a mile were for sale. Thought it would look bad for all with this many signs up. What a bizarre strategy.

J
0 votes Thank Flag Link Fri Jun 17, 2011
Market will go down and then down some more in these towns.

My opinion is that there is a major shift happening in real estate. The younger adults who are just finishing college and graduate school (Generation Z, Me, whatever they are called) simply will not buy houses as avidly as the baby boomers did. This generation is already saddled with tremendous debt to pay for higher education and have too much of a shared resourse mentality (i.e borrow / rent and NOT own, Napster, Netflix, Zipcar etc). Unless there is a program akin to the clash for clunkers to knock down existing homes, there will be way to many homes for another decade and thus further price loss.

My daughter and her husband are classic examples. They are in there mid 30s and both make over 250 K (my daughter is an MD, son in law JD) annually and they rent with no plans to buy. They dont want to buy b/c they think RE is a bad investment. Many of their peers are doing the same.
0 votes Thank Flag Link Wed Jun 8, 2011
Prices are almost certainly heading down everywhere and there is no reason to believe MA will be immune to this.

I recently purchased a home and already the comps this spring prove I would have gotten a better price if I had waited a bit longer. Economy doesnt seem to be improving either and the local economy is not great (i.e Fidelity, UMASS layoffs and hiring freeze). All signs seem to point to more decreases in home prices.
0 votes Thank Flag Link Wed Jun 8, 2011
The market is tanking in the towns you mention and will continue to go down a while, despite what the agents keep saying.

I posted a couple of discussions about N'hoods with a high density of homes on and agents mis-representing properties (both reflections of a poor market) and trulia took them down. Sure local agents complained. This discussion will probably be deleted by Trulia too.
0 votes Thank Flag Link Tue Jun 7, 2011
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