Housing Prices

[gf2020]

I don't think prices in the under-$400K range will drop that much. In the Boston suburbs, however, the over $500K houses are declining.

I finally have a buyer for my house in Newbury, MA. It went on the market at $689K in June 2005. Similar homes in my neighborhood had gone under agreement in the weeks prior for $685K and $695K.

I dropped to $675K by Fall and took it off the market in November. It went back on the market in February at $669K, dropped it to $659K after 30 days and then to $649K after another 30 days. Finally under agreement at $635K.

I know for certain that I could have sold my house for $685K earlier in 2005, one of the recent buyers in my neighborhood told me they would have taken my home over the one that they did purchase. I just did not have it up for sale in time. Hindsight is 20-20.

So there you go, a $50,000 drop in less than 12 months.

[partsjay]

Is the demand really that high here that folks would pay $250,00 for a %$%$%$%$ty looking ranch with no land?

Thats what I had to do.....either that or move my kids away from their family...living in apartments gets old.

[Backbeach Jake]

My heart goes out to kids who are working hard and trying to start a life these days. Housing is freakin insane. Decent cars are house prices( when I was their age). Taxes only go up because our politicians view the public as a bottomless money pit. Gas has gone nuts, so's the utilities. My father's generation was a single income family, Mom stayed home to watch the Comanches( a full contact job in itself) And they did very well for themselves. Try that now.