Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Market Conditions in Suffolk County : Real Estate Advice

  • All12
  • Local Info0
  • Home Buying4
  • Home Selling0
  • Market Conditions0

Activity 55
Sun Nov 24, 2013
Rafael Hernandez answered:
If you place the address on google and search amenities on google maps you should be able to see what amenities are near the location.
0 votes 9 answers Share Flag
Tue Apr 1, 2014
Bill Eckler answered:
From what we have heard via this forum and other sources, would lead one to believe, that like so many other locations, Boston is a market in transition......
0 votes 16 answers Share Flag
Tue Feb 26, 2013
Heath Coker answered:
Hi Alopes14.
Here is the data:
Condominium Sold Listings: 35
0 votes 1 answer Share Flag
Mon Feb 25, 2013
John J. Dean Jr. answered:
Thaddeus .. with you being a Boston broker I would be interested in hearing your thoughts on this. I personally feel that Boston has a tremendous amount of diversity in the market place from universities to high tech and healthcare that have saved our community from some of the real estate horror stories . ... more
0 votes 4 answers Share Flag
Mon Feb 18, 2013
Howard Chang answered:
Tracy Campion
Campion & Company Fine Homes Real Estate
172 Newbury Street, 3rd Floor
Boston, MA 02116
Phone: (617) 236-0711
Fax: (617) 507-4754
0 votes 9 answers Share Flag
Wed Mar 13, 2013
James Furlong answered:
Your best source for that level of local information is your local real estate agent. Yes, sometimes old technology (with modern access) beats new technology.
0 votes 9 answers Share Flag
Mon Jan 27, 2014
Rafael Hernandez answered:
Parking spaces have sold for up to $200k plus in the area. Are you looking to buy or sell. Feel free to give me a call and we can discuss your options.

Rafael H
0 votes 2 answers Share Flag
Thu Oct 25, 2012
gabriel palotas answered:
The economy has nothing to do with real estate. Money does.
Have you ever heard of anyone buying a home in a bad economy ????
sure.....
if they had the money
Have you ever heard of anyone buying a house without money in a good economy?
Sure. Everyone
That's how we got bad economy
I love economist they tell us who has the money.
People that have money tell us for how much.
... more
0 votes 3 answers Share Flag
Fri Nov 2, 2012
Alison Hillman answered:
Hi there,

At Trulia, we focus on residential real estate. However, it might give you a sense of what you can expect by checking out market trends:

http://www.trulia.com/real_estate/Boston-Massachusetts/market-trends/

Hope this helps!

Ali, Community Manager
... more
0 votes 3 answers Share Flag
Sun Sep 30, 2012
James Furlong answered:
This is in Roslindale and not Beacon Hill.

Please feel free to contact me if I can help in your real estate search.

jamesfurlong20@gmail.com or 617-620-0669
0 votes 3 answers Share Flag
Sun Jun 17, 2012
Thomas von Zabern answered:
Hello, an happy Father's Day :-)

170 Gore Street, "The Pavilion" was built in 1986 as condominiums. At the time of its construction, the units were marketed as less expensive alternatives to the three luxury buildings near the river, the Esplanade, River Court and Graves Landing. 170 Gore Street offered decent housing with parking and an outdoor pool at far lower entry cost than did any of the other buildings. In the last 26 years, the area surrounding 170 Gore Street has seen strong growth and appreciation, and East Cambridge has in itself become a destination for many well-funded buyers, seeking a quiet yet urban neighborhood immediately across the river from Boston.

As far as 170 Gore Street itself goes, if I am understanding the question correctly, you are asking if the six units that were offered this year indicate a defect with the building that has people running for cover and looking to unload their property while they are able to do so. There are 116 units at the Pavilion, so six units would represent just over 5% of the overall stock of condos in the building. Three units sold last year, two in 2010 and one earlier this year.

It is not uncommon for a building of this size to undergo cycles in which several units are offered and sell all at the same time. It just happens, often without any rhyme or reason. In addition, if you remember the entry-level positioning of 170 Gore Street in the market, it would stand to reason that among its unit owners, there would be some who bought their units as starter homes, and who are taking advantage of today's low interest rates to trade up. The six units that are listed as active including the three that were freshly placed under agreement, were bought by their owners in 1988, 1994,1995, 1997, 1997 and 2008. These numbers appear to me to be a very random pattern with lots of long term ownership. In my experience, it would be atypical for long term owners to abandon their building over a maintenance or repair issue. Things break in a building and components do need to be serviced or replaced every so often, and it would be my guess that most, perhaps all of these six owners have had to deal with such an issue at some time during their ownership of their condos. That being said, I have not heard any talk in professional circles about any catastrophic structural or system failure at the Pavilion.

You can further protect yourself by making any offer contingent on a home inspection, which will cover the unit and those common areas and system rooms which can be made accessible by the property manager. You also have the right to ask for a complete condominium document package, including not only the master deed and its bylaws of operation, but also budgets and minutes from association meetings one the last 1 or 2 years. These minutes would apprise you of any contemplated major upcoming repairs or maintenance issues.

Currently, three units are listed at the Pavilion, all of them with 2 bedrooms and 2 baths. These are priced from $359,000 to $399,900 and finally $519,000. I would point out that the unit at $519,000 is a penthouse with private roof deck and city views. The unit also has some updates made by its owner.

The neighborhood of 170 Gore Street has seen very strong growth in the last few years. Long relegated to second place by areas like Mid Cambridge and Harvard Square, East Cambridge has enjoyed a robust renaissance with neglected houses that come to the market being snapped up in days by eager builders, who transform these tired structures into sparkling gems that will in turn sell to homeowners at prices ranging from the $700,000's to the well over $1,300,000. At this time, I see nothing that would slow down the rate of redevelopment in the area. In fact, I am seeing buyers move to East Cambridge after years of home-ownership in Harvard Square and West Cambridge.

I hope this addresses some of your questions. If there is more that you'd like to discuss, feel fee to e mail or call me at tomvonz1@gmail.com, and 617-354-1143.

I wish you the best in your search!

Tom von Zabern
RE/MAX Destiny
... more
0 votes 1 answer Share Flag
Thu Jun 14, 2012
Jaime Fernandez-de-Castro answered:
Hi Mpinjo,
There is not a whole lot of land for sale in town but price ranges around $5000.00 sq.ft (+-15%) for residential areas and it can go as high as $20,000.00 sq.ft for commercial.
Good luck with your search.
Jaime
... more
0 votes 3 answers Share Flag
Sun Nov 24, 2013
Matthew Urciuoli answered:
Foreclosures and Bank owned properties are in the suburbs. Mainly in the less valuable areas where home prices are lower to begin with. In Brookline, Cambridge and parts of Boston. The foreclosure would sell near it's market value regardless of the bank situation. The demand is still high enough and there are plenty of people shopping with cash. In other areas we find many foreclosures that remain on the market for months. ... more
0 votes 13 answers Share Flag
Sun Jan 25, 2015
Kevin Vitali answered:
Its more of a buyers market and leaning towards a neutral market. If the economy stays the course this will be a year of the markets leveling out in most areas.
0 votes 28 answers Share Flag
Wed Apr 4, 2012
Richard Shapiro answered:
No. Rates and other economic factors are the biggest things that influences the market. Btw I think the concept of a spring market is a myth. Homes are bought and sold throught the year. ... more
0 votes 8 answers Share Flag
Sat Mar 29, 2014
Louis Wolfson answered:
Absolutely it is what has made and continues to fuel the Boston market and its suburbs. Each year 250,000 students come to boston, many of them rent, many of their parents buy and a large portion fall in love with our great area, find employment and stay here.

Rental apartment cycles and the home buying cycles are fairly standard year in year out.

The rental cycle is typically Sept to August to coincide with the Student market.

The single family housing market is not influenced by the student influx, it is driven by holidays, the summer and the kids school year. It goes like this Spring market Jan 2 not much on the market, huge demand, people within the communities want to buy, enjoy their summer and have their kids in school in sept. Spring market last till end of May.

June, July, August price reductions (except good home always sell at any time at asking or close to asking prices (good home move in condition, c/a, 1st fl family room, granite in kit, 2 car gar, nice yard, neighborhood and good school system) also homes priced below market also always sell)

Sept start of school year, kids involved in sports, Oct Halloween, Thanksgiving, Christmas, New Year - Jan 2 spring market.
... more
0 votes 6 answers Share Flag
Tue Apr 8, 2014
Michael Sylvia answered:
That's a tricky question. The selling price doesn't correlate with the assessed value of properties. Typically condos and homes sell for above their assessed value, but properties also sell for below their assessed value.

The important figure is the Sale Price to List Price ratio. In 2012, the Average Sale to List Price in the South End is 98%. That means that condos are selling at 98% of Asking Price. That amount doesn't reflect price reductions, but 98% is a very healthy number, at least for sellers!
... more
0 votes 8 answers Share Flag
Mon Dec 5, 2011
Laura Lass answered:
I *think* the pressure on the rental market has more to do with home loans being out of reach for so many consumers. Many people want to buy a home but cannot get a loan. Some can't get the loan because of their recent mortgage default. This makes the supply of rentals lower than the demand for rentals, and the supply of homes higher than the demand. Making home prices lower and rent payments higher. I would think a balance will happen when the housing market gets a little healthier.

I find that big changes happen around election time, and I'm very interested in seeing where the market heads next year.
... more
0 votes 4 answers Share Flag
Tue Oct 25, 2011
Alain Picard answered:
If you want to sell your condo to upgrade to a bigger place then you should see if you're priced right and if your not you should adjust the price accordingly. If you can qualify for a mortgage while still keeping your condo I would suggest renting your condo for now and selling when the market gets better for sellers. ... more
0 votes 23 answers Share Flag
Thu Oct 13, 2011
Louis Wolfson answered:
1 2 3
Search Advice
Search

Followers

130