Home Selling in Marlborough>Question Details

Ashwini, Home Buyer in Massachusetts

Is it good time to sell condo in metrowest MA with loss and buy a single family home in kid friendly homes?

Asked by Ashwini, Massachusetts Fri Sep 28, 2007

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Well it's not necessarily the best time to sell. However any time that you're going to both buy and sell, your advantage/disadvantage is negated no matter what the market is like. If it's a bad time to sell, it's a great time to buy and vice versa. Just make sure you get a good price on the purchase if you're taking a loss on the sale.
I also think your timing on going into a child friendly area is the right decision. Population charts show 3 distinct groups, the baby boomers ('45-'64), the gen Xers('65-'78), and the echo boom( '79-'90's). Boomers are retiring and selling their extra space homes, gen X doesn't have the numebrs to keep up demand, and the echo boom is still in condo phase. This should translate into higher supply of kid friendly homes, and lower demand for them, which should equate to a lower price. And by the time you're ready to sell, the echo boom will be getting into their family phase respuring demand.
0 votes Thank Flag Link Sat Sep 29, 2007
Hello- This question is 2 1/2 years old now. Ashwini- did you end up selling your condo? Have you moved?
Good luck,

Ken L.
0 votes Thank Flag Link Mon May 17, 2010
Local Realtor chiming in! :)

Condos are traditionally difficult to sell...BUT...that is just one part of your larger goal! I'm sure you are aware that the housing prices are low and that it's a great time to buy! It's a math equation...and it depends on where you want to be in a year or five years.

I would be more than happy to discuss the market value of your condo but I would need more information on the property. Please give me a call or drop me an email. I am in Marlborough myself and can be very flexible.

Amy Mullen, Realtor CPA MBA
amymullen@remax.net
617-899-2146
0 votes Thank Flag Link Sat May 15, 2010
Ask your buyer broker (if you have one) to check out the percentage decline in values in the area you want to buy in as compared with the decline in your condo's value. If you're staying in Marlborough, I'd reccommend the streets right off Hosmer St. Those homes are mostly ranches, capes and colonials built around 1960, with lot sizes between 9000 - 12000. Homes that were selling for around $330-$350 are now ASKING below $300,000!
0 votes Thank Flag Link Mon May 12, 2008
I like to tell all of my clients that may be taking a loss......if we can price your house to sell then we will also try and find you a house that was priced to sell.
Hopefully that helps if you have any more questions please feel free to email me lisamahoney@remax.net
0 votes Thank Flag Link Tue Oct 9, 2007
Hi Ashwini,

Trulia currently shows 118 condos for sale in Marlborough. I've provided a link below to those properties so you can find the values of those that are comparable to yours.

Hopefully a local Realtor will chime in as well to let you know if this is a good time to sell yours.

Best Wishes,

Emily Gibson
Customer Service Representative
0 votes Thank Flag Link Fri Sep 28, 2007
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