Real estate market has really cooled in the North East

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elkimmeg

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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.
 
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...
 
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
 
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
 
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.
 
elkimmeg said:
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
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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
 
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.
 
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.
 
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...
 
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
 
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.
 
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.
 
Bushfire said:
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.
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Same here. Keeps my job simpler (planner 1, wetlands enforcement - Town of Killingly).
 
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/
 
Adirondackwoodburner said:
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/
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We've got a house about 30minutes norht of Great Sacandaga in Speculator. Good to know the market is up in that area.
 
Reall, you up on Lake Pleasant.?
 
elkimmeg said:
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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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?
 
across from the school?
 
Webmaster said:
elkimmeg said:
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.
Click to expand...

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?
Click to expand...

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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