Representing Buyers, Sellers, Landlords and Tenants in Real Estate Transactions in the Boston, MA and South Shore Real Estate Markets
Sunday, May 19, 2013
Saturday, May 18, 2013
Friday, May 17, 2013
Thursday, May 16, 2013
Tuesday, May 14, 2013
Massachusetts Pending Home Sales Highest Since January 2004
The Massachusetts Association of REALTORS® (MAR) reported today that more pending home sales were reported in the month of April than in any month since January 2004 when MAR began tracking this data. While not an all-time high, condominium pending sales hit their second highest point. Pending sales figures (also called homes under agreement) are a leading indicator of actual housing sales in Massachusetts for the following 2-3 months.
The number of single-family homes put under agreement in April was up 32.8 percent compared to the same time last year (5,948 homes in 2013 from 4,478 homes in 2012). This is the most homes that have gone under agreement in any month that the Association has available data (starting in January 2004). This is also the biggest monthly year-over-year increase since April 2010, the final month to take advantage of the home buyer tax credit. On a month-to-month basis, single-family homes put under agreement were up 38 percent compared to 4308 homes put under agreement in March 2013.
The number of condos put under agreement in April was up 37.4 percent compared to April 2012 (2,435 units in 2013 from 1,772 units in 2012). This is the 2nd most condos to go under agreement since March 2005 when there 2,501 units to do so. On a month-to-month basis, condos put under agreement went UP 29 percent from 1,888 units in March 2013. Monthly pending (or under agreement) data and closed sales data comes from the three REALTOR®-affiliated Multiple Listing Services in Massachusetts. They are the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS® Multiple Listing Service, Inc.; and MLS Property Information Network, Inc. The data is compiled by 10K Research and Marketing, Inc. and updated each month. As a result, previous data may change after the reports have been run.
(source MAR)
The number of single-family homes put under agreement in April was up 32.8 percent compared to the same time last year (5,948 homes in 2013 from 4,478 homes in 2012). This is the most homes that have gone under agreement in any month that the Association has available data (starting in January 2004). This is also the biggest monthly year-over-year increase since April 2010, the final month to take advantage of the home buyer tax credit. On a month-to-month basis, single-family homes put under agreement were up 38 percent compared to 4308 homes put under agreement in March 2013.
The number of condos put under agreement in April was up 37.4 percent compared to April 2012 (2,435 units in 2013 from 1,772 units in 2012). This is the 2nd most condos to go under agreement since March 2005 when there 2,501 units to do so. On a month-to-month basis, condos put under agreement went UP 29 percent from 1,888 units in March 2013. Monthly pending (or under agreement) data and closed sales data comes from the three REALTOR®-affiliated Multiple Listing Services in Massachusetts. They are the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS® Multiple Listing Service, Inc.; and MLS Property Information Network, Inc. The data is compiled by 10K Research and Marketing, Inc. and updated each month. As a result, previous data may change after the reports have been run.
(source MAR)
To Stage or Not To Stage That is The Question??
I recently sold a condo in South Boston that we initially tried to sell with the tenant still occupying the home. Although, the home was neat and very clean it did not show very well. The tenant was half moved out so the home was void of any personality. I suggested to the seller that we stage it. Initially, we were going to sell it and just set up beds in the bedrooms. THEN I met with a stager who set me straight as well. She used flowery words like it needs to be a happy place, you want it to be happy. It needs to drawer you in...well she is 110% correct. The photos below show a condo which is great property and how it was transformed through staging. The home went under agreement within in 5 days of being staged after sitting on the market for 2 months. The sellers saved themselves a hefty price reduction.
Check out some of these photos!
So, many home buyers came in and said that the 2nd bedroom was too small etc. and you can't fit a Queen Size bed...WRONG! It did not matter how many times I told them that it could or even if I traced it out...buyers still could not envision it. The proof is in the pudding...or should I say photos...
 |
| 2nd Bedroom Before Staging |
 |
| 2nd Bedroom After |
 |
Living Room Before |
Friday, May 10, 2013
Creative Home Buying Solutions? Is a Lottery the Way to Go?
Real estate professionals look for creative ways to get home buyers into homes. With inventories remaining low and demand high, a lottery is an alternative way...not sure this is the best solution...
Demand among homebuyers is so high in some parts of the country that builders are holding lotteries to decide who gets to purchase homes in their developments.
O'Brien Homes started holding a monthly housing lottery for its 228-unit development called Fusion in Sunnyvale, Calf., after seeing throngs of prospective buyers camp out at the openings of other new condo complexes in the area.
Wednesday, May 8, 2013
Top 10 Things You Need to Know When Buying a Home
Good advice for 1st Time Home buyers and Buyers Trading Up
1. Don't buy if you can't stay put.
If you can't commit to remaining in one place for at least a few years, then owning is probably not for you, at least not yet. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner - even in a rising market. When prices are falling, it's an even worse proposition.
2. Start by shoring up your credit.
Since you most likely will need to get a mortgage to buy a house, you must make sure your
credit history is as clean as possible. A few months before you start house hunting, get copies
of your credit report. Make sure the facts are correct, and fix any problems you discover.
credit history is as clean as possible. A few months before you start house hunting, get copies
of your credit report. Make sure the facts are correct, and fix any problems you discover.
3. Aim for a home you can really afford.
The rule of thumb is that you can buy housing that runs about two-and-one-half times
your annual salary. But you'll do better to use one of many calculators available online
to get a better handle on how your income, debts, and expenses affect what you can afford.
your annual salary. But you'll do better to use one of many calculators available online
to get a better handle on how your income, debts, and expenses affect what you can afford.
4. If you can't put down the usual 20 percent, you may still qualify for a loan.
There are a variety of public and private lenders who, if you qualify, offer low-interest
mortgages that require a small down payment.
mortgages that require a small down payment.
5. Buy in a district with good schools.
In most areas, this advice applies even if you don't have school-age children. Reason: When
it comes time to sell, you'll learn that strong school districts are a top priority for many
home buyers, thus helping to boost property values.
it comes time to sell, you'll learn that strong school districts are a top priority for many
home buyers, thus helping to boost property values.
6. Get professional help.
Even though the Internet gives buyers unprecedented access to home listings,
most new buyers (and many more experienced ones) are better off using a
professional agent. Look for an exclusive buyer agent, if possible, who will
have your interests at heart and can help you with strategies during the bidding process.
most new buyers (and many more experienced ones) are better off using a
professional agent. Look for an exclusive buyer agent, if possible, who will
have your interests at heart and can help you with strategies during the bidding process.
7. Choose carefully between points and rate.
When picking a mortgage, you usually have the option of paying additional points --
a portion of the interest that you pay at closing -- in exchange for a lower interest rate.
If you stay in the house for a long time -- say three to five years or more -- it's usually
a better deal to take the points. The lower interest rate will save you more in the long run.
a portion of the interest that you pay at closing -- in exchange for a lower interest rate.
If you stay in the house for a long time -- say three to five years or more -- it's usually
a better deal to take the points. The lower interest rate will save you more in the long run.
8. Before house hunting, get pre-approved.
Getting pre-approved will you save yourself the grief of looking at houses you can't afford
and put you in a better position to make a serious offer when you do find the right house.
Not to be confused with pre-qualification, which is based on a cursory review of your finances,
pre-approval from a lender is based on your actual income, debt and credit history.
and put you in a better position to make a serious offer when you do find the right house.
Not to be confused with pre-qualification, which is based on a cursory review of your finances,
pre-approval from a lender is based on your actual income, debt and credit history.
9. Do your homework before bidding.
Your opening bid should be based on the sales trend of similar homes in the neighborhood.
So before making it, consider sales of similar homes in the last three months. If homes have
recently sold at 5 percent less than the asking price, you should make a bid that's about eight
to 10 percent lower than what the seller is asking.
So before making it, consider sales of similar homes in the last three months. If homes have
recently sold at 5 percent less than the asking price, you should make a bid that's about eight
to 10 percent lower than what the seller is asking.
10. Hire a home inspector.
Sure, your lender will require a home appraisal anyway. But that's just the bank's way of
determining whether the house is worth the price you've agreed to pay. Separately, you
should hire your own home inspector, preferably an engineer with experience in doing
home surveys in the area where you are buying. His or her job will be to point out
potential problems that could require costly repairs down the road.
determining whether the house is worth the price you've agreed to pay. Separately, you
should hire your own home inspector, preferably an engineer with experience in doing
home surveys in the area where you are buying. His or her job will be to point out
potential problems that could require costly repairs down the road.
Tuesday, May 7, 2013
What Do Grocery Stores Have to Do with Condo Sales?
 |
| Time Warner Center and Whole Foods Market NY, NY |
Apparently, grocery stores and condos go hand in hand. Makes sense right? This is the hottest
amenity fueling condo sales. Recently, in South Boston, Foodie's market had opened and even more recently Bee's Knees Supply Company has opened at 12 Farnsworth Street in the Fort Point Channel area of South Boston. What I find so interesting is that many buyers later have told me specifically that they want to live near Foodie's not a specific gym or restaurant but the convenience of a grocery store is very important to them. Makes sense right? Isn't this what condo and city living is all about? Convenience?
Pairing food retail with residences is not a new idea. But Robert J. Bond, president of Bond Companies, a professional real estate and investment services company with offices in Chicago and Los Angeles, says that there’s been a shift in the approach. “In the past, a food store might have been an afterthought. Now, the shop-at-home experience is a starting point.”
Read more...
(Source Forbes)
Trade Up Buyers, Tips on How to Sell and Buy a New Home
If you’ve outgrown your current home or need to move into a new neighborhood, it’s time to sell your house and buy a new one. Ideally, you would be able to easily make the switch, but chances are, you will face some hiccups along the way.
If you sell first, you may be left rushing to find a new place to live, and you may end up with a house that isn’t right for you. But if you buy first, you run the risk of paying for two homes at the same time. The transition becomes even more difficult if you need to sell your current home to make a down payment on the next one.
Assess the market
Take a look at home prices in both your current and future neighborhoods, and figure out whether each area is “hot,” meaning it’s a seller’s market, or “cold,” a buyer’s market. In a hot market, you will find that it’s easier to sell your current home and to buy a new one. In a cold market, the opposite is true.
Selling your home first
If you sell your home before buying another, the good news is that you’ll have the money for a down payment on your next house. But where will you live?
You might be able to draw up a contract with the new homeowners to remain in your current home if you agree to cover their first month’s costs: mortgage and any applicable PMI, taxes, insurance and utilities. Be aware that if your home appreciated while you owned it, the new owner’s mortgage payment might be much higher than yours was.
You might also be able to stay with a loved one, rent a hotel room or find a short-term lease on an apartment. This means you’ll need to move twice and perhaps put many of your possessions in storage, but your boxes will still be packed and ready to go to when it’s time to move into your new house.
Monday, May 6, 2013
What You Can Buy For the Median Home Price In Massachusetts
It holds true in Massachusetts that the three most important factors in determining a home's value are "location, location and location."
Prices in the Bay State swing wildly — by as much as hundreds of thousands of dollars — for basically the same homes located in neighboring towns. To be sure, a homebuyer's power varies by the ZIP code.
With that in mind, the Boston Business Journal's research team has set out to see what you can buy for the Massachusetts median, that is, the value level at which half of all homes are priced above and half of all homes are priced below. As of February — the latest data period available — the state's median home price was $282,500, according to the Massachusetts Realtor Association.
Homebuying This Spring? 3 Tips to Help Get You the Home
With shrinking inventories and more competition, buyers are finding they have less negotiating power in today’s market. CNNMoney recently highlighted some of the following tips to help home buyers be more successful in their purchases this spring:
1. Lowball offers are a waste of time: “The days when you could scoop up a house for 20 percent less than the list price are long gone,” the article notes. Homes are selling much closer to their asking price nowadays, surveys show. Michael Murphree, a real estate professional in Birmingham, Ala., says he advises his clients that if homes are selling below the list price in an area but are still being sold in less than two months to make an offer that is no more than 2 to 3 percent below the asking price. If homes are selling above the listing price, Murphree advises clients to make their first offer at the full asking price.
2. How to win a bidding war: To do that, agents say come with a higher price and fewer contingencies, and be flexible with when you can move in. In some transactions, the sellers could be left trying to find new housing for themselves, so some real estate professionals suggest leaving the closing date blank on the contract and allow the seller to fill it in, or be willing to negotiate a leaseback if the seller needs more time to vacate.
3. Shop around for financing: Credit unions and small banks tend to offer the lowest rates and may even be less strict about their underwriting, Guy Cecala, publisher of Inside Mortgage Finance, told CNNMoney. Cecala recommends getting a good-faith estimate from one lender and then showing it to other lenders to see if they can beat it.
Source: “Housing Is Back! Best Moves for Home Buyers,” CNNMoney (April 8, 2013)
Saturday, May 4, 2013
Friday, May 3, 2013
South Boston's Seaport Largest Development Taking Shape
A deal is emerging to build one of the South Boston Waterfront’s largest developments: a pair of 22-story towers on Seaport Boulevard that will include up to 800 apartments and a 300,000-square-foot retail and entertainment complex.
Full Article @boston.com
Thursday, May 2, 2013
Wednesday, May 1, 2013
Spring Cleaning-Get Your Home Organized Now To Enjoy in Summer
Interiors
and Decorating ideas- For Example:Monday, April 22, 2013
Many Ways to Help Marathon Victims
It is heartwarming to see and hear of all the fundraisers for the victims of the Boston Marathon. Here are just a few of the funds and fundraisers that have been set up to help the victims of the Marathon. Please let me know of others and I will post them here to help spread the word.
FUNDS
1. One Fund Massachusetts Governor Deval Patrick and Boston Mayor Tom Menino have announced the formation of The One Fund Boston, Inc. to help the people most affected by the tragic events that occurred in Boston on April 15, 2013.
2. Roseann's Recovery Fund Roseann Sdoia was severely injured as a spectator at the Boston Marathon on 4/15/13. Roseann suffered serious injuries as a result of the explosions and has lost a leg above the knee. Roseann is a runner, please help support her so that she can run someday again!
"We have created this fundraiser to raise money to help support our dear friend, Jeff and his family. As most of you know, Jeff was severely affected by the tragedy that had taken place at the Patriots Day Boston Marathon this year. Throughout this difficult time we want to help in every which way we possibly can to get Bauman back on track as soon as possible.
*Medical bills are going to start rolling in, let's get a head start on helping out Bauman and his family! Every dollar counts!!
*Medical bills are going to start rolling in, let's get a head start on helping out Bauman and his family! Every dollar counts!!
Celeste and Sydney were badly injured in the blasts at the Boston Marathon on 4/15/13. Sydney suffered severe injuries as a result of being hit with shrapnel and Celeste has lost both her legs below her knees. There is a long road ahead - both physically and emotionally - and we're hoping to relieve some of the financial burden by raising funds in their name. Please help spread the word and donate if you can. The outpouring of emotion and support has been nothing less than amazing and the family is extremely grateful for your prayers and warm words.
RUN/WALK FUNDRAISERS
5. South Boston 5K Run/Walk Fundraiser for the victims of the Boston Marathon takes place on **Event Postponed**
SHOPPING/T-SHIRTS
6. Shop For a Cause, 20% of all sales will go to the One Fund. Please join these South Boston shops from 6-8PM on Thursday, April 25th.
Ku De Ta
663 East Broadway
Habit
703 East Broadway
Karen's Boutique
647 East Broadway
The Closet Connection
553 East Broadway
663 East Broadway
Habit
703 East Broadway
Karen's Boutique
647 East Broadway
The Closet Connection
553 East Broadway
7. Boston Strong T-Shirts $10.00, all proceeds to go to One Fund
8. Brad Marchand Raffles off his personal suite to help the Martin Richard Family Fund.
You and thirteen (13) guests will enjoy the first Boston Bruins home playoff game of 2013 Stanley Cup Playoffs in Brad Marchand’s personal suite. In addition, all guests will receive a post-game meet & greet with Brad.
Net proceeds from this raffle will benefit the Richard Family Fund, setup in memory of Martin Richard, an 8 year old from Dorchester, MA who tragically died in the events of the Boston Marathon.
Please note that the date of this game is TBD.
Please note that the date of this game is TBD.
Sunday, April 14, 2013
Are You a Buyer in Today's Market?
So, you have decided to take the plunge into home ownership? Are you one of those buyers that have sat on the sidelines waiting to buy?? Waiting for the exact right time to jump into the market? Thinking prices were coming down...waiting for that perfect home? Or are you a renter who realizes that now may be a better time to buy because rents have gone through the roof?
If so, then you need to be prepared for today's market!
Why buy now? Buy now because rates are low and money is cheap! If you are buying today in the Spring 2013 market place then there are something you need to know!
In most markets right now you are in what we call a seller's market. Do you know the difference between a seller's market, a normal market and a buyer's market?
Sellers Market, a sellers market is when the demand is higher than the supply. What does this mean for buyers? It means that you may have to pay more to get what you want. This is an ideal situation for sellers because they can sometimes get more than what they want for their home. You can also spot a sellers market when there is less than 6 months supply of inventory.
Buyers Market, a buyers market is the complete opposite of a sellers market; it is when the supply is high and demand is low. This is a great market for buyers because there are so many choices that you can usually pay less for what you want. In a buyers market there is more than 6 months of supply of inventory.
Normal Market, a normal market is when the market is balanced. This is when the playing fields are equal, there is no tipping of the scale in either direction.
OK, so now you know the markets. It is important to note that there can be different markets in the country or even in the same state. It is also important to note that markets can change quickly or slowly and it can be hard to predict. What affects what types of market we are in? The economy. Plain and simple.
OK, so let's get back to the matter at hand...being a buyer in today's market.
Be Prepared. Do your homework. Meet with a mortgage lender. The best way to go about this is to ask friends and family for referrals. Ask who they had a good experience with, etc. Get pre-approved and know what your comfort level is in owning a home. Do not bite off more than you can chew. Consider your options, do you want a fixed mortgage or an ARM? Are you a first time home buyer? Then ask what programs are available for first time buyers. You need to be pre-approved so you can compete with other buyers in the market.
Meet with a real estate professional. OK, now that you have a pre-approval in hand go and interview some agents. Again, ask family and friends who they used and if they had a good experience and have them define what a good experience means to them and see if how it compares with your expectations. Next, meet with the agent for a buyer consultation. Find out what the agent will do for you. A buyer consultation is complimentary.
Find a home. Now that you have all your ducks in a row...you are ready to look at properties for sale!
I found a home now what? Make an offer. If the home has been on for a nanosecond then be prepared to pay asking or higher. Again, you need to be comfortable with the numbers. But in this Spring 2013 market you need to realize that you maybe in a multiple offer situation and that the buyer with the best terms will be the buyer that will get the home. The best terms can mean different things to sellers. For example, timing may be the biggest factor. A seller may want to close in a few months versus the usual 6 weeks it takes from offer to close. So, if you offer the sellers the best terms for them then you may just be their buyer! Good luck!
Click here to search for homes for sale
Friday, April 5, 2013
Stunning South Boston 2 Bedroom Condo with Parking
Open Houses this weekend:
Saturday & Sunday 11:30AM-1PM
Don't miss this great opportunity to own your own home!! Located in the heart of all the action! New Starbucks right out your front door or Dunkin Donuts if you prefer! All the best restaurants that you can walk to from your home! There is Franklin Cafe, Stephanies (coming soon), Amrhein's and Barlows just to name a few! Did I mention the T is a 2 second walk from your kitchen? OK, maybe it is a minute but you get the point! You can walk everywhere from here!!
Saturday & Sunday 11:30AM-1PM
Don't miss this great opportunity to own your own home!! Located in the heart of all the action! New Starbucks right out your front door or Dunkin Donuts if you prefer! All the best restaurants that you can walk to from your home! There is Franklin Cafe, Stephanies (coming soon), Amrhein's and Barlows just to name a few! Did I mention the T is a 2 second walk from your kitchen? OK, maybe it is a minute but you get the point! You can walk everywhere from here!!
Thursday, April 4, 2013
Buyer's Checklist: For All Buyers
How many times have you heard mom knows best?? Plenty I am sure even when you did not want to hear it but let's face it she does! When I was looking for homes my mom said check the water pressure!! So, now that I am in the business of selling homes and helping buyers find homes I always smile when buyers flush the toilets and turn on the faucets!
Here are some other helpful tips:
1. Check The Drains: This might sound silly, but we've had two homes with the same issues in the last several years. Somewhere between the house and the sewer line, there's a backup. Usually tree branches or a collapsed pipe, but either way, it's hard to spot unless you run a load of laundry, fill up the tub and sinks and let them all attempt to drain at the same time.
2. Open All The Windows: Replacing windows isn't fun and it isn't cheap either. Open them all to find out if they stick, are stuck or just plain old won't open.
2. Open All The Windows: Replacing windows isn't fun and it isn't cheap either. Open them all to find out if they stick, are stuck or just plain old won't open.
3. Turn On All The Faucets: Although changing out faucets isn't exactly rocket science it's always a pain to lay under a cabinet and reach for the sky with funny tools to get things removed. Just check to make sure they all work before buying to eliminate the back ache.
4. Light A Fire In The Fireplace: Even though chimneys are usually installed by professionals, that doesn't mean they're always in pristine shape. Cleaning them is as simple as a phone call to a local chimney sweep, but finding out if all the fireplaces in the home draft correctly is another.
5. Taste The Water: This lesson is always learned the hard way. Even if your city has great water, your pipes might be old enough that they'll send a little extra something out of the tap and into your glass. Knowing up front if you'll need to install a whole house filter or invest in a few Brita pitchers is always helpful.
6. Flush The Toilets: Knowing that all the toilets in the home can handle toilet paper is a bonus. Although they're easy enough to replace or fix, finding ones that flush well are a bonus. If you're dissatisfied they could issue you money back to make the replacement in order to get you to sign on the dotted line!
7. Open The Electrical Panel: A clean and labeled panel is a happy panel. Something that looks like squirrels got up inside can signal trouble. Look for loose wires or ones that simply don't connect to anything. It could signal that there's live wires inside the walls!
8. Turn On The Heat/Air: Knowing that both of these things work prior to actually needing them can be a serious bonus. Check to make sure they blow their respective temperatures in addition to just turning on.
9. Pull The Carpet Back: Before you move in, you'll want to find out if there's hardwood floors and also any mold or mildew under the carpets. Look for the lowest side of the room and if possible pull a corner back. Many homeowners will have a section of carpet removed in a closet to allow you to see the condition of the floors below.
10. Basement Moisture: Although most home inspectors will sniff this one out for you, look for signs of dampness. Even if the walls aren't apparently wet, look for things like dehumidifiers, bucks of silica or other things that grab moisture from the air and keep it at bay. If the home owners are smart enough to move these things, look for places near outlets that look clean (or leave a dust ring) where something like this might have sat.
9. Pull The Carpet Back: Before you move in, you'll want to find out if there's hardwood floors and also any mold or mildew under the carpets. Look for the lowest side of the room and if possible pull a corner back. Many homeowners will have a section of carpet removed in a closet to allow you to see the condition of the floors below.
10. Basement Moisture: Although most home inspectors will sniff this one out for you, look for signs of dampness. Even if the walls aren't apparently wet, look for things like dehumidifiers, bucks of silica or other things that grab moisture from the air and keep it at bay. If the home owners are smart enough to move these things, look for places near outlets that look clean (or leave a dust ring) where something like this might have sat.
source:www.apartmenttherapy.com
Wednesday, April 3, 2013
Good Newsz Only: Weekend train from Boston to Cape Cod to start up ...
Good Newsz Only: Weekend train from Boston to Cape Cod to start up ...: Question: What could be better than a trip to Cape Cod? Answer: A trip to Cape Cod with no traffic. And that’s exactly what some C...
Monday, April 1, 2013
What $500K Buys You In Beantown
What does $500K buy you in and around Boston? Let's take a look...you just may be surprised!
In South Boston, this lower bi-level is listed on the market for $519,000 (with an accepted offer). It features a shaker style cherry kitchen, hardwood floors throughout, crown moldings and yard. There are 2 bedrooms and 2 baths and 1288 square feet. Last year we sold 130 condos priced between $450,000 and $550,000. Currently there is less than 2 months of supply in this price range. If you were ever considering selling, now is the time to schedule a consultation and consider your options.
In South Boston, this lower bi-level is listed on the market for $519,000 (with an accepted offer). It features a shaker style cherry kitchen, hardwood floors throughout, crown moldings and yard. There are 2 bedrooms and 2 baths and 1288 square feet. Last year we sold 130 condos priced between $450,000 and $550,000. Currently there is less than 2 months of supply in this price range. If you were ever considering selling, now is the time to schedule a consultation and consider your options.
 |
Now let's take a look at Charlestown's Navy Yard. In coveted Parris Landing, this 1,000 square foot 2 bedroom, 2 bath condo offers many amenities including a pool and fitness center and 24/7 concierge and a parking space! All this for $525,000. There is just 3 months of inventory in this price range.
Just outside of Boston, 7 miles to the south, this adorable picturesque cape overlooking the Furnace Brook Golf Course is available for $525,000 this 2 bedroom, 1.5 bath home is a great condo alternative. It offers 2,295 square feet of living area. There are just 14 single family homes for sale in Quincy in this price range.
On the South Shore, just 30 miles outside of Boston, in the lovely seaside town of Marshfield, you can build a new 2,500 square foot home for $539,000 on almost a 1/2 acre of land. Your new home will feature 4 beds, 2.5 baths. There is just under 5 months of inventory in the $500,000 range. If you are considering a move, now may be the time to think about your options.
*Homes and Data pulled from MLS/Pinergy 4/1/2013
Saturday, March 30, 2013
Demand For Homes Outpaces Supply Of Home For Sale
The Massachusetts Association of REALTORS® (MAR) reported this week that a lack of inventory pushed the number of closed home sales down in February after 19 months of increase. Median home prices were up for the fifth straight month. Unlike single-family sales, both condominium median prices and closed sales were up in February.
For the month of February, 2,168 single family homes sold, down 5.0% from 2,282 from the previous year. This is the first time in 19 months that home sales have gone down. Buyers are lining up to take advantage of the low interest rates. Rising rents continue to push buyers into the market.
The condo market actually saw a 1.7% increase over the one year period, selling 861 compared to 847. The median selling price was $257.5, +12.9% over $228.0 in February 2012.
We are seeing more units starting to come on the market in the downtown markets with the demand being so high and supply low and anticipate that the suburbs will follow suit. Many buyers are coming to open houses with offers in hand to open houses or writing them not soon after. Buyers know if the like something then they have to move on it and bidding wars are often the case on hot properties.
“Potential sellers are keeping their homes off the market because they expect prices to rise through the summer and they’re waiting for the right time to sell,” said Barry Bluestone, founding director of Northeastern University’s Center for Urban and Regional Policy. “The real problem is not the demand side, it’s the supply side right now. You can’t have sales rise if no one is selling. I expect a large supply to come on the market by late summer as people see prices improve.”
For the month of February, 2,168 single family homes sold, down 5.0% from 2,282 from the previous year. This is the first time in 19 months that home sales have gone down. Buyers are lining up to take advantage of the low interest rates. Rising rents continue to push buyers into the market.
The condo market actually saw a 1.7% increase over the one year period, selling 861 compared to 847. The median selling price was $257.5, +12.9% over $228.0 in February 2012.
We are seeing more units starting to come on the market in the downtown markets with the demand being so high and supply low and anticipate that the suburbs will follow suit. Many buyers are coming to open houses with offers in hand to open houses or writing them not soon after. Buyers know if the like something then they have to move on it and bidding wars are often the case on hot properties.
“Potential sellers are keeping their homes off the market because they expect prices to rise through the summer and they’re waiting for the right time to sell,” said Barry Bluestone, founding director of Northeastern University’s Center for Urban and Regional Policy. “The real problem is not the demand side, it’s the supply side right now. You can’t have sales rise if no one is selling. I expect a large supply to come on the market by late summer as people see prices improve.”
South Boston Condo Market Snapshot
Marshfield Single Family Home Market Snapshot
Friday, March 29, 2013
Mom Buys $6.5 Million Condo For 2 Year Old Daughter
The lucky toddler’s new condo is in the Park Hyatt-managed One57 tower, currently under construction. The building, at 157 W. 57th Street, will be one of New York's tallest skyscrapers when finished in 2013 at a height of 1,004 feet.
This is one for the record books!!
Tuesday, March 26, 2013
Boston Micro Units...Trendy and Affordable
On Monday, Boston Mayor Thomas M. Menino announced a plan to build 30,000 housing units in the city by 2020, saying the city must accelerate its housing production to meet the needs of young workers, middle-class families and seniors.
Factory 63 in South Boston’s Fort Point area has micro-units starting at $1,699 a month. The city of Boston is competing with the world in order to attract more businesses and the next breakthrough business by building more workforce units. These micro-units are genius! An excellent use of space. Didn't your mom always tell you the best gifts sometimes come in small packages? This place gets even better with Ming Tsai's Blue Dragon across the street!!!
Tuesday, March 19, 2013
Luxury, Elegance and your own "Boston Common" Greenspace in the Heart of the City: Introducing 853 East Broadway in South Boston, MA
 |
| Visit here for more photos |
This circa 1890 Second Empire style single family home boasts 3,928 square feet of living space and sits on a large 6,250 square foot lot and has been lovingly renovated with
care. The home is rich in exquisite original detailing including Carrera marble
fireplaces and high ceilings. Living, dining, kitchen and family room all on
first level allow for easy entertaining or casual family living. The master
bedroom suite is complete with gas fireplace and custom marble bathroom. Handsome cherry
kitchen opens to bright and cozy family room with French doors that open to your deck overlooking your
very own "Boston Commons" yard. This 7 bedroom residence
has 6 fireplaces, 3.5 baths and 6 car parking!
Bonus living area that can be
used as an au pair suite, income producing 2nd unit, private get away for family, friends and
in-laws or a family room for kids and teenagers. Complete with its own private
entrance, separate kitchen, private bath and living room. A rare find in the
city!
Please Inquire.
Please Inquire.
Shown By Appointment Only
 |
| Handsome Cherry Kitchen |
 |
| Bright and Airy Family Room |
 |
| Master Bedroom Suite |
 |
| Great Room For Entertaining |
 |
| Luxurious Spa Like Bath |
 |
Your Private Oasis in the City
Karen Powers
Exclusive Marketing Agent
781.413.4120
Karen@KarenMPowers.com
|
Subscribe to:
Posts (Atom)