This place is truly beautiful, but I feel something is off with the location (projects 2 blocks away).

Asked by Michelle Martin, Charlestown, Boston, MA Sat Feb 28, 2009

I really love the place with all the amenities, its stunning. But I'm worried that the location will make it hard to resell, and that I'd be getting 'the best house on not a great block'. There are two schools nearby, and a state cop lives across the street. There is a private elementary school right next door (house abuts the parking lot for the school). Broadway is two streets over, which is good for shops, but bad for noise and overall safety. And ideas?
It's a lot of money and little beyond our budget realistically, but I just love it. Don't want to regret a passion purchase later.

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Wen Farina, Agent, Reading, MA
Sat Feb 28, 2009
Hi Michelle,

I'd agree with Julie about S. Boston as well as Kellys at castle island (hard to resist when im rollerblading). OK, back to RE. In this market towns and cities have gotten hit by the economy differently. In my opinion S. Boston has held on to its property values much better than other towns and cities near by. One of the things to think about is how long you plan to live in it, You mentioned resell value, so, is this going to be an investment property where you expect a specific % ROI?; if you are going to live in it for over two years get a CMA on the area to get an idea on what to offer (if you decide to buy). I am sure anyone of us here would be happy to provide you with a free analysis. I'm a believer that money is mainly made in RE when you buy, you have more control on what you want to pay and not so much on future appreciation. So, get a buyers agent that is a good negotiator to assist you. I can tell you that only one unit, unit 5, has sold based on mls and it sold at 799. The other units are currently expired from mls.
Century 21
1 vote
Julie Simmons, Agent, Dorchester, MA
Sat Feb 28, 2009
Hello Michelle -

The projects have been there for a long time & people have moved in & out of that block for eons. If that
is the place for you, buy it. I sold R.E. all over South Boston early in my career & loved the neighborhood!

South Boston is a great community! Go for it & enjoy the amenities - the close proximity to town, the ocean, the hot dogs at Kellys at Castle Island! There's a reason South Boston R.E. is booming right now . People recognize that with all the building still going on, it's a great place to buy & build equity.

When you are ready to sell, someone will ask the same questions, and buy in. I can't say enough about So. Boston as an investment, and as a past resident, I can say that it's a wonderful place to live!

Best of Luck!

Julie Simmons
1 vote
SanfordMullen…, , Boston, MA
Tue Mar 3, 2009
If you are going to re-sell in less than 5 years than perhaps you may want to consider investing in a different neighborhood to be on the value safe side. You may want to consider a market that is more value insulated, i.e something a little more stable like back bay. Only downside with neighborhoods like these is they will be more expensive/square foot (smaller space).The proximity to "the projects," etc, is one of the things that goes along with city-living.

The unit(s) you are speaking of have been pulled from the market (at least according to the MLS) but here is a list of every property currently for sale in Souhie:
0 votes
John Savigna…, Agent, Hopkinton, MA
Sat Feb 28, 2009
I am not familiar with this area, but I will say every home has a value based on 3 primary things- condition, location and suitability for your lifestyle. what s a great house for you, someone else may not even like at all. I would tell you to due an analysis, based on facts and considering location and condition using comps from other homes in the area and thendecide what its worth to you to consider making an offer. You should seek a buyers agent who is well versed in that community to help you analyze the situation. Good Luck.
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