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gf2020 · 05-18-2006, 12:45 PM

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.

05-18-2006, 12:45 PM	#18
gf2020 Registered User Join Date: Jan 2002 Location: North of Boston Posts: 444	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.