Exceptional Buying Opportunities in Cohasset, Hingham
The picturesque and quintessential New England coastal towns of Cohasset and Hingham are best known for the natural beauty of their ocean- and harbor-front properties, and for their well-kept Colonial and Victorian-style historical homes, which share space with modern architectural styles. These towns provide year-round vacation living 19 miles from Boston.
The Cohasset and Hingham real estate markets have not suffered to the extent that the national and state markets have. These are upscale communities and there have been few foreclosures. It’s a great time to buy, and if you’re willing to accept the realities of the new marketplace and price your home accordingly, it’s good time to sell.
Well-advised sellers have readjusted their asking prices to a level that is probably 15 to 20 percent lower than where they were on average two years ago. This presents a remarkable opportunity for the savvy buyer. In other words, if you are selling your $700,000 house for $600,000, but you’re then buying a $2.8 million home for only $2.3 million, your proportionate savings are substantial. You’re getting $100,000 less for your $700,000 house, but you’re also saving about $450,000 on your $2.8 million purchase, so it’s a significant benefit for people who are moving up. People that have owned their houses for more than three years are not going to be able to sell them for as much as they might like, but they will be able to sell them, make some profit and then trade up at a large savings.
Two recent oceanfront examples: a home on Atlantic Avenue came on the market at $3.5 million and sold for $2.2 million; similarly, a $3.9 million home on Jerusalem Road sold for $2.3 million.
—Tom Hamilton, Dean & Hamilton Realtors
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