Monday, July 30, 2012

Boston Real Estate: Some Kind of Mess

Most of the country may be still be in a housing slump, but the market in prime Boston and Cambridge neighborhoods is going bananas. Inventory is at "historically low levels" and prices are climbing. Sellers are getting multiple offers, and accepting bids that are tens of thousands of dollars higher than their asking prices. Buyers are waiving their usual safety contingencies, including home inspections and financing approval. A third of all buyers are paying entirely in cash.

This can only mean one thing: I'm in the market as a buyer. Yes, indeed....

I've been watching the market like a hawk for more than two years, and I'm noticing that home staging, curb appeal, and decent marketing materials are starting to go by the wayside. More houses are being listed as "drive-by shootings" — with only photos of the outside. And sellers know that buyers are so desperate they won't raise an eyebrow at the teepee in the master bedroom, or any mess they leave for the photographer:



4 comments:

  1. I remember that this is what the market was like when I was buying in Bay Head, NJ. Paid $450,000 for an 800 sq ft fixer upper (no furnace/heating system was in the house) and I thought I got an awesome deal! Good luck on your home shopping. :)

    ReplyDelete
  2. Don't know why I did this, but searched my old address in Agassiz Cambridge neighborhood, which I sold at a LOSS at $125,000 in 1989 . . . last sold in 2002 for $330,000 . . . I had to dump it when I moved to PA b/c rent control still in effect and could rent it for $200/month. Loved that place, and was so disgusted didn't buy property again until the inn. Can't wait to see what will happen when we try to sell this place . . .

    ReplyDelete
  3. I just stumbled across your blog-I'm a cat lover too and my husband and I just moved to Boston a week ago. We've settled into a one-bedroom apartment at the edge of Back Bay, but it is a lot smaller than where we lived in Seattle and our cat seems to be sad that she can't run up and down the stairs or go into the garden like she used to...

    Angie

    ReplyDelete
  4. Welcome to Boston, Angie! I feel sorry for your poor cat, who must be feeling very boxed in... it wouldn't be safe to let her out without a leash, but some people do take their cats out walking on harnesses successfully. And cats love heights, so those carpet-covered climbing poles with perches can be great, especially if there's a window nearby for bird-watching. And we find that our cats love having a friend of their own species for company... the Animal Rescue or the MSPCA can help you find someone who's a good match for your cat's personality. Good luck!

    ReplyDelete

Unless you are spamming me about, say, Skype, I love getting comments and do my best to follow up if you have a question. I delete ALL spam, attempts to market other websites, and anything nasty or unintelligible. The cats and I thank you for reading — and please do leave a comment that isn't spam, etc.