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Real estate market has really cooled in the North East

Post in 'The Hearth Room - Wood Stoves and Fireplaces' started by elkimmeg, Mar 28, 2006.

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  1. elkimmeg

    elkimmeg Guest

    New home sales have really dropped off. It seems every town has an inventory on unsold homes. many being a year old.
    Inspections are really down, Registry indicating land transferes is down 35%. My remodeling is going ok. Mechanical inspections were ok due to wood/ pelet stove installs but now they have dropped off vanished, 2 so far this month. A town away, a builder built 17 cluster zone homes as close as 10' apart $850k not one has sold. One builder in my town, is sitting on 4 mill plus homes. Another builder dropped his price 60k and still it is unsold.

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  2. martel

    martel Member

    Joined:
    Feb 9, 2006
    Messages:
    207
    Bad timing- my family has just put my grandmother's house on the market in Rockland, MA. Everyone is glad she had lived this long- but wishes the market is where it was 2 years ago...
  3. stuart

    stuart New Member

    Joined:
    Mar 10, 2006
    Messages:
    44
    Loc:
    Bethany Ct
    yes here in CT i see a lot of homes for sale but not many sold quick like it was a year or two ago homes the worst thing is the cost of heating,gas for autos, no good stable job market and a bad start of a new year i see it where i work it is going to be a bad year
  4. elkimmeg

    elkimmeg Guest

    Hey Rockland is not too far from me. The only thing I remember Is I held the course record at Strawberry Valley. a long time ago
  5. michaelthomas

    michaelthomas New Member

    Joined:
    Feb 10, 2006
    Messages:
    286
    The market is slowing down up here in southern Maine as well. Lots more signs on yards that don't come down for a long time. I think we bought our house at the peak but we also sold our other house at a very inflated price, so I think it washes out a bit. We are planning on being in this home 20+ years so I am not too concerned with the current market ups and downs.
  6. babalu87

    babalu87 New Member

    Joined:
    Nov 23, 2005
    Messages:
    1,440
    Loc:
    middleborough, ma.
    I think I still hold the record for belly whoping there.
    Fun place to go sledding as a kid.

    Some of the old 8mm my father took of us sledding is great footage.

    Something had to give with the way the values skyrocketed.
    My house tripled in value in a 5 year period :bug:

    BTW
    The inspection was done on my stove back in November but the assesors came to check it out in February???????
    Does a stove increase the value of a home?
    I know they took away my "safe home" credit on my insurance %-P
  7. martel

    martel Member

    Joined:
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    Yep- I definately grew up sledding at Strawberry Valley. In fact Babalu I grew up right near where you live now- it says in your profile you are in Middleboro- I spent the first 18 years in Plympton.
  8. babalu87

    babalu87 New Member

    Joined:
    Nov 23, 2005
    Messages:
    1,440
    Loc:
    middleborough, ma.
    Grew up in Whitman

    I was at the Christies market the night the Toll House burned down

    I still remember my first birthday night out to eat with my parents there.
    Left the twins at home and ate my whole steak AND THE PEAS near the fountain, I wish I could have taken the wife to that place when it was in its prime.
  9. martel

    martel Member

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    wow- quite a memory- what year was that? i don't know if i remember it brunging down or seeing that it had burned down...
  10. babalu87

    babalu87 New Member

    Joined:
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    1,440
    Loc:
    middleborough, ma.
    They had a massive kitchen fire in 1984 that pretty much leveled the place
    I was home on leave from the military. Selectman allowed Wendys to build there..........SAD!

    Birthplace of one of the best cookies of all time is home to a fast food chain
  11. case sensitive

    case sensitive New Member

    Joined:
    Mar 3, 2006
    Messages:
    14
    Loc:
    Putnam, CT
    Here in northeast CT, we've seen a small slow down since last year. However, we're expecting things to pick back up for the spring/summer. We're still processing 2-5x as many applications (zoning, wetlands, etc) as we did 5-10 years ago. Darn all you Mass and RI people. You found us out.
  12. Bushfire

    Bushfire Member

    Joined:
    Nov 19, 2005
    Messages:
    91
    Loc:
    Kennett Square, PA
    The fewer people and houses in NE CT, the happier I'll be. However, the development is crawling up I-84 from the Vernon/ Tolland area.
  13. case sensitive

    case sensitive New Member

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    Loc:
    Putnam, CT
    Same here. Keeps my job simpler (planner 1, wetlands enforcement - Town of Killingly).
  14. Henz

    Henz New Member

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    Loc:
    Northville, NY
    The market is still pretty hot in Northcentral NY. Any home listed around the Great sacandaga Lake wont be on the market very long. You can buy a nice 2500 sqft home lakefront for a couple hundred thousand/
  15. case sensitive

    case sensitive New Member

    Joined:
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    Loc:
    Putnam, CT
    We've got a house about 30minutes norht of Great Sacandaga in Speculator. Good to know the market is up in that area.
  16. Henz

    Henz New Member

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    Loc:
    Northville, NY
    Reall, you up on Lake Pleasant.?
  17. case sensitive

    case sensitive New Member

    Joined:
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    Loc:
    Putnam, CT
    Just down the road. Inbetween Charlie Johns and Oak Mtn.
  18. webbie

    webbie Seasoned Moderator Staff Member

    Joined:
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    Loc:
    Western Mass.
    Funny thing is they upped the accessment on my NEW house big time over what I paid for it 1 1/2 years ago!

    They claim they work on data that is about a year old - so they are not up the current "crash". An appeal did no good.

    How much you wanna bet they don't lower it next year when the stats reflect a downturn?
  19. Henz

    Henz New Member

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    across from the school?
  20. case sensitive

    case sensitive New Member

    Joined:
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    Loc:
    Putnam, CT
    basically.
  21. BrotherBart

    BrotherBart Hearth.com LLC Mid-Atlantic Division Staff Member

    Joined:
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    Messages:
    28,754
    Loc:
    Northern Virginia
    I won't bet with ya. I worked for a local government for a little while. A little while too long. When assessments jumped up they gave me half again more than I had asked for in my budget request and added two new headcount that I neither wanted nor needed. They kept gleefully talking about the "windfall". I couldn't figure out why they didn't just give the citizens their money back.
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