New England Real Estate.
We all know that the bubble has burst (like my husband said it would) here in the Northeast when it comes to real estate. Especially within the Boston Metro area.
Here in the South End, condo prices are d-r-o-p-p-i-n-g. Trust me though, they're not cheap; just a little more affordable. A couple that makes $200k can actualy afford to buy something now.
This particular one bedroom condo I found on Craigslist this morning is a PRIME example of how prices have gone from the "ridiculously outrageous" to the "almost reasonable."
Nearly nine months ago, just after the start of the new year, I saw this exact condo listed on Craigslist for about $650k. I think it was three months later, it had dropped to $629k. I kept seeing it posted on Craigslist, week after week. Well, this morning I'm online looking at listings, and I see that the price has now dropped to $579k. That's only 11% off the original asking price, but when you look at the dollar amount it's a LARGE drop.
The place is ideally located in the South End, and has great ammenities and parking. It may continue to sit on the market for a few more weeks, but I think before the end of the year someone may bite on it.
For now, gone are days of "flipping" and making easy money.
Here in the South End, condo prices are d-r-o-p-p-i-n-g. Trust me though, they're not cheap; just a little more affordable. A couple that makes $200k can actualy afford to buy something now.
This particular one bedroom condo I found on Craigslist this morning is a PRIME example of how prices have gone from the "ridiculously outrageous" to the "almost reasonable."
Nearly nine months ago, just after the start of the new year, I saw this exact condo listed on Craigslist for about $650k. I think it was three months later, it had dropped to $629k. I kept seeing it posted on Craigslist, week after week. Well, this morning I'm online looking at listings, and I see that the price has now dropped to $579k. That's only 11% off the original asking price, but when you look at the dollar amount it's a LARGE drop.
The place is ideally located in the South End, and has great ammenities and parking. It may continue to sit on the market for a few more weeks, but I think before the end of the year someone may bite on it.
For now, gone are days of "flipping" and making easy money.
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