There are some very nice homes in Medfield between $875,00-975,000. However, they seem to be close to the top

Asked by Jt, Norfolk, MA Fri Apr 17, 2009

for the town, Where we used to live(out of state) that hurt resale value. Does the same hold true here?
Also, what about the same price range in Natick?
Thanks!

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3
Natalie Mason…, , Medfield, MA
Sat Jun 27, 2009
Jt,
Excellent question.. and concern. In addition to the other two agents excellent answers, I'd like to say this. Most folks don't want to own the highest price home in a neighborhood or town for various reasons. Certainly you want to assure you are not overpaying for a particular neighborhood.
However, I don't feel that the price range, from 875k to 975k is the "Top" for these towns. I have been marketing in Medfield for over 20 years. Currently there are 18 homes for sale ( listed in the area MLS, Multiple Listing Service) in Medfield over 975k, going up to 5 million. 7 are Under Contract and 21 have sold in the past 16 months. And keep in mind this is after the depreciation we had since 2005.
In Natick, (again, according to MLS) there are 18 listed above 975k, 3 Under Contract and 8 sold in the past 16 months. I hope this answers your questions and if you need an agent, I'd be happy to help you find a home. Good luck!
0 votes
SanfordMullen, , Boston, MA
Sat Apr 18, 2009
JT -
Any time you sell a property that is in the highest price range of a neighborhood it simply means less demand from home buyers for this inventory which means the properties take longer to sell. The average or median prices for a neighborhood are the strongest and see the most sales because they are the most "affordable" for the area. Just because you own in the top price range doesn't mean the value of the property won't increase it just may be harder to get the exact price because there isn't as much data and turn over in the higher price points. Basically, at resale expect to adjust your listing price a couple times and have longer days on market.
0 votes
Judy Boyle, Agent, Marlborough, MA
Sat Apr 18, 2009
Hi JT,

Excellent questions revolving around resale....very, very important for those of us who realize the benefit of solid real estate investments to protect our hard-earned money!

Unfortunately, the answers to your questions are far too complex to answer here on Trulia. There are some websites you can visit to gather some basic information, but you would really benefit by speaking to a neighborhood specialist who knows the questions to ask, help you sort through and interpret the available information, and guide you towards making the best decision for you!

In the meantime, here are a couple of those websites that I mention previously: http://www.neighborhoodscout.com and http://www.massstats.com (three "s"'s).

Good Luck!

Judy Boyle
Weichert Realtors-Comvest Residential
Northborough, MA
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