Profile picture for gmac78

how much has New England home values increased in the past year.

  • September 28 2009 - Woburn
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Answers (5)

Profile picture for chuckdog24
Argh!! Just back from (4) showings today & prices/values in the area look exactly the same as when we did our failed spring 07 bidding. Very disappointing set of showings... Over $300k for each of those 1,300 ~ 2,000 sq ft homes & all were in dire need of TLC or upgrading. To boot our new agent was relating stories about needing to pay over the bank appraisal value. Very discouraging.
The agent is a friend of my wife's family, so double argh!!

There definitely seems to have been a recent "value bump" in the last few months in this area (as substantiated by a Zestimate jump from $253k to $273k for a "home of interest".

When the $8k giveaway clears & tax payers stop bailing out underwater owners, this "affluent" market area will finally find its level. Interest rates are extremely attractive at the moment, but not a reason to buy at bloated pricing.      
  • October 03 2009
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Profile picture for Blue Nile
Even then, we won't know since government officials really don't like to see tax revenue decrease, thus they will do anything necessary to prevent (or minimise) that.  They are presently working very hard to devalue the dollar, but in a way that most people don't realise they are doing it, so they can pay back those 1% interest loans with money that is only worth 80% of what it was when they borrowed it.

Only problem is, the pay rates will not be adusted to compensate for the delining dollar value for many years after.

It is always the same.  Put the resources and wealth in the hands of the mega-corporations and mega-wealthy, and take it away from the average working family.  Slavery never ended, nor will it ever.
  • September 29 2009
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Profile picture for chuckdog24
The unprecedented governmental intervention has created "green shoots" in the largely affluent NE RE market.
Friendship - You've seen that much of a decline in the Guilford, CT market? I'm just up the road in Northford & many homes seemed to be priced about the same as when we tried & failed to buy in 2004 as well as 2007. Some have dropped a bit, but our "affluent" area (highest per capita income state in the nation as I'm told) hasn't seen the correction of many other markets.

Time will tell as to how the massive tax payer funded foreclosure & "free vacation with a house" giveaways are impacting the natural correction cycle. I say the "free vacation giveaway" with a house purchase in that a local agent's mailing made that exact suggestion. "Use the $8k for that vacation that you wanted or for any other purpose".

I'll be glad when this bail out nonsense  has worked its way through the system. Only then will we know the true market increase/decrease data.
  • September 29 2009
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Profile picture for Mr Caveat
over the last 2 months they have increased, but there are very few places showing a positive yoy. here are some markets:

http://housing-watch.com/home.aspx?d=365
  • September 28 2009
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Why would you be under the impression they increased?   My est. would be approx. 10-20% decline.
  • September 28 2009
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