Home Buying in Marlborough>Question Details

Jack Frounji…, Home Buyer in 02172

What is the outlook for marlborough ma.?

Asked by Jack Frounjian, 02172 Sun Dec 30, 2007

The house is near metro west but relative to other boro's it's priced much lower. I found a house that is well priced because of the short sale status. I think it's valued approx 18% under what the owners payed in the peak market back in 2005. I like the house and even the neighborhood, however I have some concerns about the rest of the marlborough city. My house looks to be in a good condition and bordering southborough, but the rest of the city looks some what low middle class. In regards to return on investment, should I invest in a town like marlborough(middle class and low middle) or should I try to find a litle more upscale neighborhood in this area and pay more for the property in these market conditions.

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Answers

3
Hi Jack,

The number of forclosures in the lower-middle income area you are looking will be more than other higher income areas around metro west. The increase in the forclosure number will drag the prices down of all the other homes in the area, and this trend will continue for the next 1-2 years. If you buy a home in a more upscale neighborhood, the prices are less effected by forclosure, because there are less forclosures in these areas.
1 vote Thank Flag Link Tue Dec 23, 2008
Are you looking to buy a single family or a multi-family home?

If you're looking at a single family home, the outlook isn't bad. The number of homes on the market has stayed steady for the past 3 years. Days on market so far this year is less than the same time period last year; prices are still down, though not as much as between 2006 and 2007. Would not be surprised to see 2008 as the bottom of the single family market.

Multi-family homes in Marlborough have taken a hard hit. Not only are prices down but number of sales are way down. The number of mutlifamily homes on the market has increased year by year.
0 votes Thank Flag Link Mon May 12, 2008
Hi Jack! I am Realtor who specializes in the Marlborough area. I think I can help you out as I hear your same question quite frequently. The answer is going to depend on many more factors than I can list here. Please feel free to call or email me (508.561.7164 or jboyle@comvestresidential.com) so we can talk...no obligation. Judy
0 votes Thank Flag Link Tue Jan 1, 2008
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