Quantcast

housing market dead?

Discussion in 'The Lounge' started by douglas, Dec 13, 2005.

  1. douglas

    douglas Chocolate Milk Doug

    Rep/Likes:
    5 / 0
    Joined:
    May 15, 2002
    Messages:
    9,889
    Location:
    Shut up and Ride
    NOT!

    My sis has been looking for a house (near Boston) for a while

    a 1600 sq ft single family on .1 acres went on the market Friday for $400K, by tuesday (yesterday) they were 5 bids submitted........my sis won being she was willing to extend closing date & pay full asking
     

    Please register to disable this ad.

  2. I Are Baboon

    I Are Baboon Run, Forrest, Run!

    Rep/Likes:
    155 / 1,463
    Joined:
    Aug 6, 2001
    Messages:
    29,105
    Location:
    MTB New England
    Sweet!! Good for your sis!
     
  3. MMcG

    MMcG Ride till you puke!

    Rep/Likes:
    5 / 4
    Joined:
    Dec 10, 2002
    Messages:
    15,466
    Location:
    Burlington, Connecticut
    Nice house! Congrat to your sister!
     
  4. TreeSaw

    TreeSaw Mama Monkey

    Rep/Likes:
    41 / 433
    Joined:
    Oct 30, 2003
    Messages:
    16,665
    Location:
    Dancin' over rocks n' roots!
    Nice :thumb:
     
  5. N8 v2.0

    N8 v2.0 Not the sharpest tool in the shed

    Rep/Likes:
    18 / 149
    Joined:
    Oct 18, 2002
    Messages:
    11,007
    Location:
    The Cleft of Venus
    Is that Amityville horror house on the market again?
     
  6. splat

    splat Nam I am

    Rep/Likes:
    8 / 78
    Joined:
    Apr 27, 2002
    Messages:
    14,676
    Location:
    Well Maybe Windows is Bearable ! Unix Rules !
    So how often are you going to be visiting Sis ?
     
  7. Barbaton

    Barbaton Turbo Monkey

    Rep/Likes:
    5 / 0
    Joined:
    May 11, 2002
    Messages:
    1,477
    Location:
    suburban hell
    Sounds like your sister got lucked out. This from the globe today:

    more here
     
  8. douglas

    douglas Chocolate Milk Doug

    Rep/Likes:
    5 / 0
    Joined:
    May 15, 2002
    Messages:
    9,889
    Location:
    Shut up and Ride

    well, a 7% drop is not a biggie when prices have gone up 30% per year for 5 plus years in a row
     
  9. douglas

    douglas Chocolate Milk Doug

    Rep/Likes:
    5 / 0
    Joined:
    May 15, 2002
    Messages:
    9,889
    Location:
    Shut up and Ride
  10. McGRP01

    McGRP01 beer and bikes

    Rep/Likes:
    5 / 0
    Joined:
    Feb 6, 2003
    Messages:
    7,797
    Location:
    Portland, OR
    One of the reasons I moved away from Boston. (Althoguh I'd move back if I could afford it).
     
  11. berkshire_rider

    berkshire_rider Growler

    Rep/Likes:
    0 / 10
    Joined:
    Feb 5, 2003
    Messages:
    2,557
    Location:
    The Blackstone Valley
    :stupid:

    Does that mean you'll be out to ride with us next year? :confused:
     
  12. luken8r

    luken8r Monkey

    Rep/Likes:
    4 / 0
    Joined:
    Mar 5, 2004
    Messages:
    565
    Location:
    Melrose MA
    what town is this house in?
     
  13. stinkyboy

    stinkyboy Plastic Santa

    Rep/Likes:
    1 / 0
    Joined:
    Jan 6, 2005
    Messages:
    15,192
    Location:
    ¡Phoenix!
    :think:

    I'm not sure I would post a general location and photo of my sisters house on the internet... I'm just sayin...
     
  14. douglas

    douglas Chocolate Milk Doug

    Rep/Likes:
    5 / 0
    Joined:
    May 15, 2002
    Messages:
    9,889
    Location:
    Shut up and Ride

    she's been living out that way for a while....

    when I visit I usually go over with other family members - makes it tough to go do my own thing for 4or5 hours

    but I do really want a tour of Douglas state forest :cool:
     
  15. douglas

    douglas Chocolate Milk Doug

    Rep/Likes:
    5 / 0
    Joined:
    May 15, 2002
    Messages:
    9,889
    Location:
    Shut up and Ride

    pretty close to you
     
  16. SkaredShtles

    SkaredShtles I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!

    Rep/Likes:
    258 / 2,195
    Joined:
    Sep 21, 2003
    Messages:
    47,555
    Location:
    In a van.... down by the river
    I think that you'll find that nice houses in desirable neighborhoods will always have a line of people waiting to buy them.

    Until mortgage rates hit 12%, that is. :p
     
  17. luken8r

    luken8r Monkey

    Rep/Likes:
    4 / 0
    Joined:
    Mar 5, 2004
    Messages:
    565
    Location:
    Melrose MA

    I wasnt asking for the address or arial photos or her phone number. Christ, Massachusetts is a big place and the housing market is quite different between the north shore, south shore, west, etc.
     
  18. stinkyboy

    stinkyboy Plastic Santa

    Rep/Likes:
    1 / 0
    Joined:
    Jan 6, 2005
    Messages:
    15,192
    Location:
    ¡Phoenix!
    lukenstlkr is a little defensive, no?

    :rolleyes:
     
  19. bizutch

    bizutch Delicate CUSTOM flower

    Rep/Likes:
    4 / 8
    Joined:
    Dec 11, 2001
    Messages:
    15,921
    Location:
    Over your shoulder whispering
    knowledge is power my friend. I'm a mortgage loan officer and I can tell you from personal experience....10% was the norm for about 20+ years not that long ago...people just choose to forget about it.
    We have every loan under the sunt o compensate though...we now have 40 yr mortgages....:love:
     
  20. bizutch

    bizutch Delicate CUSTOM flower

    Rep/Likes:
    4 / 8
    Joined:
    Dec 11, 2001
    Messages:
    15,921
    Location:
    Over your shoulder whispering
    oh...and a reason for those prices dropping back down in that range is that Fannie Mae & Freddie Mac (the federally insured invester groups that purchase 90% of all conforming loans) caps a "conforming loan at just over $400,000.00.

    So if you go to buy a house at $500k, you pay a HIGH RISK interest rate...and you better have a damn good credit score with plenty of money in the bank...and you can't buy a anything over $200,000 with 100% financing.

    Soooo...people all proud of their increasing values are hitting the financial ceiling of values b/c buyers can't finance that big of a loan without a BIG chunk of change down....
     
  21. justsomeguy

    justsomeguy Monkey

    Rep/Likes:
    0 / 0
    Joined:
    Oct 3, 2005
    Messages:
    723
    Have you tried Franklin Gothic Medium photos? I think they look better than arial photos.
     
  22. profro

    profro Turbo Monkey

    Rep/Likes:
    6 / 270
    Joined:
    Feb 25, 2002
    Messages:
    5,602
    Location:
    Walden Ridge
    $400k for 1600 sq. feet !!!! :eek: Man I'm glad I live in Podunk, TN. I can't wait for the housing market to crash. The urban sprawl around here is getting out of hand.
     
  23. stinkyboy

    stinkyboy Plastic Santa

    Rep/Likes:
    1 / 0
    Joined:
    Jan 6, 2005
    Messages:
    15,192
    Location:
    ¡Phoenix!
    aerial photos

    :nuts:
     
  24. stinkyboy

    stinkyboy Plastic Santa

    Rep/Likes:
    1 / 0
    Joined:
    Jan 6, 2005
    Messages:
    15,192
    Location:
    ¡Phoenix!

    Do you have any photos of your sisters house?