The launch of our new Boston Condos Blog is now in full swing!
Subscribe to the new feed to keep up with new blog posts.
Stop by and check out the new blog, with our first official post on the Boston FP3 Seaport Condos.
Keep your eyes peeled for our new Boston Condos blogging platform. We are in the final stages of launching the new and improved site which will provide users a deeper and richer interface of functionality, live chat, and a more pleasing aesthetic appearance.
The past week saw seven (7) South End Condos sell. Here are the details:
Lowest Price: $183,687
Median Price: $685,000
Highest Price: $1,065,000
Average Price: $687,812
Average Days on Market (DOM): 138
Sales Price / Listing Price Ratio: 99%
Start Date: 03/11/2007
End Date: 03/17/2007
West Canton Street in Boston’s South End is a quiet tree-lined street that has seen a lot of renovation investment over the past few years, and sits at the South End’s entrance to Boston’s Back Bay.
At any one time, the four blocks of West Canton Street that run from Tremont Street on the south, and the Northwest Corridor on the north, have several condos for sale – be that a renovated townhome, an exquisite duplex, or a penthouse floor-though with gorgeous views of the city.
Condos on West Canton give you the neighborhood feel that makes you feel “at home”, while being right on the city’s doorstep in proximity to “big city” life - Boston West Canton Condos.
If you're looking to sleep on a bed of money, then the Penny Savings Bank Condos (Penny Place Condominiums) in Boston's South End may hit the spot.
Back in March 2005, the Boston Redevelopment Authority gave the go-ahead to redevelop Boston's Penny Savings Bank in the South End into 23 condominiums, 9,000 square feet of retail space, and a 25car underground garage.
Construction on the Penny Savings Bank complex is nearing completion for the expected May 2007 completion, and Washington Street in the South End is continuing to see positive redevelopment in an area that needs it.
For more information on the this Boston condo development you can navigate to our details page: Boston Penny Savings Bank Condos.
Given that Boston has more millionaires than New York, a developer saw that fact and has built The Meads of Commonwealth Condos, residences that cater to the most demanding buyer.
All 13 of the Meads of Commonwealth Condos are unique in shape and size, but elite craftsmanship and fine finishings were not spared. The Penthouse is truly one of a kind, and the Meads will serve to not only provide an exquisite home to buyers who can afford to purchase a residence, but also to better Boston's Back Bay.
The Meads are currently available for purchase and start at $1.8 million for a 7 room, 2 bedroom, 2.5 bath Brownstone.
Real Estate Investing gives you the opportunity to turn $200,000 into $2,000,000 - check out this new real estate investing article that details out the numbers, the process, and the methods to make money using real estate investing as your vehicle.
If you have been looking for a clear and concise explanation of how real estate investing works, and see supporting numbers and a method to the madness, you now have a great source:
Real Estate Investing Advice
Recently, the South of Washington (SOWA) area of Boston’s South End has seen two new condo developments hit the market, ArtBlock Harrison, and the Penmark Condos. Both are pushing the edge in an area of town that needs revitalization.
The Penmark Condos offer one and two bedroom floor plans, with high-end finishings, as well as a garage parking space with each unit. Most of the windows in the building are towering, and provide good views of the city.
Visit Boston Condo Guy to see more pictures of the Boston Penmark Condos, as well as many other new developments across the city – you can search using unique Google Maps technology too!
Have you ever seen photos of an aircraft breaking the sound barrier? It is a strange phenomenon, and interesting how it clings to the aircraft until you can increase your speed to go through that zone.
The photo in this post does a good job of showing how the "barrier" flows around the plane. Typically, the nose, or on some fighter jets the engine nacelle, hits the front of the "barrier" and then slowly leaves the aircraft. When this happens, there is a large "boom" known as "breaking the sound barrier," which some of you may have heard.
The Boom occurs because the plane catches up to, and passes, the sound it already has produced. At that point there is a collision between the vibrating air (sound) it has produced and the current sound it is making. Faster than this point, the plane arrives to strike before the warning of its sound does. This phenomenon only happens at the instant an aircraft breaks the sound barrier, and demonstrated in the photo, it literally appears like the aircraft goes through a wall.
Bay State property owners of homes built before 1978 could be subject to increased costs and regulation under new legislation filed on Beacon Hill that seeks to amend the Commonwealth’s lead paint law. Specifically, a measure introduced by state Senator Patricia Jehlen (D-Somerville) seeks to require all persons selling properties constructed on or before January 1, 1978 “to conduct an inspection for dangerous levels of lead at their expense prior to the signing of a purchase and sale agreement.” In addition, the bill seeks to require all landlords to perform inspections of all rental units built prior to January 1, 1978 before any change in tenancy or once in a two-year period, whichever is less.
Currently, Massachusetts law requires that prospective purchasers and tenants of residential property built prior to 1978 be provided with a notification form regarding the presence of lead-based paint in the housing. Furthermore, the law allows prospective buyers 10 days in which to have a lead inspection performed and if lead is discovered, the buyer may withdraw from the sales transaction.
Draft language in the bill also would revise existing law to stipulate that de-lead certificates only be good for two years, whereas today a Letter of Compliance is considered to be valid indefinitely (and a Letter of Interim Control is valid for one year with the ability to renew for a second year), provided the property owner makes reasonable efforts to ensure the home is in good repair, principally by making sure there is no chipping or peeling lead paint. Finally, if passed, the bill would require soil and tap water to be tested as part of any lead inspection.
The proposed legislation will create additional hardship and expense for local property owners who already face some of the toughest public health statutes in the U.S. regarding lead paint law enforcement, according to REALTORS® and officials with the Greater Boston Real Estate Board, who intend to oppose the initiative.
If you have ever been interested in learning about the history of the Back Bay, how it went from being part of the Atlantic Ocean to one of the most prestigious places to call home in Boston, you will want to view the timeline (some pictures included) of Bacy Bay history that was recently posted.
1. Emergency - The Emergency Number worldwide for mobile phones is 112. If you find yourself out of the coverage area of your mobile; network and there is an emergency, dial 112 and the mobile will search any existing network to establish the emergency number for you, and interestingly this number 112 can be dialed even if the keypad is locked.
2. Locked Your Car Keys in the Car - Have you locked your keys in the car? Does your car have remote keyless entry? If you lock your keys in the car and the spare keys are at home, call someone at home on their cell phone from your cell phone. Hold your cell phone about a foot from your car door and have the person at your home press the unlock button, holding it near the mobile phone on their end. Your car will unlock. Saves someone from having to drive your keys to you. Distance is no object. You could be hundreds of miles away, and if you can reach someone who has the other "remote" for your car, you can unlock the doors (or the trunk).
3. Hidden Cell Phone Battery Power - Imagine your cell battery is very low. To activate, press the keys *3370# your cell will restart with this reserve and the instrument will show a 50% increase in battery. This reserve will get charged when you charge your cell next time.
4. Disable a Stolen Cell Phone - To check your Mobile phone's serial number, key in the following digits on your phone: * # 0 6 # A 15 digit code will appear on the screen. This number is unique to your handset. Write it down and keep it somewhere safe. When your phone gets stolen, you can phone your service provider and give them this code. They will then be able to block your handset so even if the thief changes the SIM card, your phone will be totally useless. You probably won't get your phone back, but at least you know that whoever stole it can't use/sell it either. If everybody does this, there would be no point in people stealing mobile phones.
5. Free 411 Assistance - Cell phone companies are charging us $1.00 to $1.75 or more for 411 information calls when they don't have to. Most of us do not carry a telephone directory in our vehicle, which makes this situation even more of a problem. When you need to use the 411 information option, simply dial: (800) FREE 411, or (800) 373-3411 without incurring any charge at all. Program this into your cell phone now.
1. Define your goals, wants, needs and expectations. A good place to begin is by exploring your short and long term goals in life and how selling you home fits in.
2. Determine the best price for what is going on in the market right now. Assess the current state of the market and what comparable homes are actually selling for by reviewing a Comparative Market Analysis (CMA) on your home.
3. Prepare you property so that it is in top-selling condition. Most of us do not keep our homes in top-selling condition. Try and see things from a buyer's point of view. Boston Condo Guy can consult with you on what to repair, replace or remove so that your home makes a great first impression.
4. Implement time-proven, researched-based marketing strategies. Your home must be marketed with a plan that has the highest potential for bringing not only the most buyers, but also the most qualified buyers to your doorstep.
5. Showing your property. Always keep your home in top-selling condition. When you leave for work, make sure that your home remains in top-selling condition. You know what they say about first impressions.
6. Receive an offer. When a buyer decides to buy your home, an offer will be presented. Your realtor can advise you on the offer and whether the buyer is qualified to purchase your home.
7. Negotiate to sell. Most offers require some level of negotiation. Work with your realtor to decide your parameters and have them negotiate on your behalf.
8. Have your home appraised and inspected. We have written previous articles on the idea of getting a home inspection before you sell - it's a wise thing to consider when selling your home.
9. Prepare for closing. Work with your realtor to understand the home selling process.
10. Close! At the closing meeting, ownership of your property is legally transferred to the buyer. Work with your realtor and any appropriate parties (title company, attorney) to understand the process.
If you have been looking for an intuitive way to search new Boston Condominium Developments, Boston Condo Guy provides users with a Google Maps based solution that is easy on the eye, and easy to use.
Boston Condo Guy offers listings of the most recent condo developments in Boston proper, with general listing information, as well as photos and floor plans. Your search for Boston Condo Developments just got easier!
“Almost every home office has lousy lighting,” says design consultant Terrence Schlesinger of LightYears2.com in Kauai, Hawaii. To make your office an exception, choose a space with a window or skylight.
You’ll definitely want an overhead light or floor lamp that illuminates the entire room and a bright desk lamp. Schlesinger prefers a halogen desk lamp with an adjustable arm so light can be placed optimally for each task. Don’t forget to position your computer so the monitor is free from glare.
Another mood booster: bright paint colors. “It’s not just paint; it’s energy," says Schlesinger, who specializes in helping clients choose paint colors. "I recommend that you get away from anything traditional. Pick your favorite colors — not just one or two, but many.”
He suggests painting each wall a different shade, although he recognizes that not everyone is ready for such an adventurous approach. "I like to change colors every 90 degrees," he says. "And don’t forget about the door."
Not sure you trust your inner decorator? Luckily, there are plenty of Web sites that allow you to test out color combinations in virtual rooms. Some sites to try: Behr.com, BenjaminMoore.com and Sherwin-Williams.com.
A great way to keep up with the changes in the Boston real estate market is to receive daily property updates in your email. This gives you the ability to keep up with what is happening with homes that are of interest to you (based on price, square footage, amenities, etc), and if it’s free, you can’t top that! These Boston property updates via email are one convenient feature provided by Boston Condo Guy to help you keep your finger on the pulse of the Boston real estate market.
Before you buy a condo, contact the condominium's board with the following questions. By getting these questions answered, you will find out a lot about your potential neighbors, and the building that you are buying into - a valuable step in preparing to buy a home.
1. What percentage of units is owner-occupied? What percentage is tenant-occupied? Generally, the higher the percentage of owner-occupied units, the more marketable the units will be at resale.
2. What covenants, bylaws, and restrictions govern the property? What grandfather clauses are in place? You may find, for instance, that those who buy a property after a certain date can’t rent out their units, but buyers who bought earlier can. Ask for a copy of the bylaws to determine if you can live within them. And have an attorney review property docs, including the master deed, for you.
3. How much does the association keep in reserve? How is that money being invested?
4. Are association assessments keeping pace with the annual rate of inflation? Smart boards raise assessments a certain percentage each year to build reserves to fund future repairs. To determine if the assessment is reasonable, compare the rate to others in the area.
5. What does and doesn’t the assessment cover - common area maintenance, recreational facilities, trash collection, snow removal?
6. What special assessments have been mandated in the past five years? How much was each owner responsible for? Some special assessments are unavoidable. But repeated, expensive assessments could be a red flag about the condition of the building or the board’s fiscal policy.
7. How much turnover occurs in the building?
8. Is the project in litigation? If the builders or homeowners are involved in a lawsuit, reserves can be depleted quickly.
9. Is the developer reputable? Find out what other projects the developer has built and visit one if you can. Ask residents about their perceptions. Request an engineer’s report for developments that have been reconverted from other uses to determine what shape the building is in. If the roof, windows, and bricks aren’t in good repair, they become your problem once you buy.
10. Are multiple associations involved in the property? In very large developments, umbrella associations, as well as the smaller association into which you’re buying, may require separate assessments.
In this flush-with-inventory market, Realtors need to be on their toes with the language they use in trying to sell your home. Has your Realtor been doing you justice when “pitching” your home to prospective buyers?
Recent academic studies scrutinized the wording on 20,000 home listings only to produce some interesting results - perhaps some obvious facts on one end, and some “wow, I’m glad I know not to use that” on the other.
Homes described as "beautiful" moved 15 percent faster and for 5 percent more in price than the benchmark. "Good-value" homes sold for 5 percent less than average.
To Sell your Home...
Use These Words:
- Handyman special
- Curb appeal
- Move-in condition
- Landscaping
- Granite
- Gourmet
- Golf
Don’t Use These Words:
- Motivated seller
- Good value
- As-is
- Clean
- Quiet
- New paint
Have you been searching the Internet for a decent website to gain access to the Boston Multiple Listing Service (MLS)? You probably have been searching the Internet like I once did for a website that will provide you quick and easy access. Unfortunately, there aren’t a lot of websites out there that provide you fast, easy, and free access.
Well, the search is over, we are bringing you Free Boston MLS Access – no gimmicks, forms, or cheesy signups. Get fast and easy access, get the information you want and need, and inquire for further information or a showing at your discretion. We also can provide you with free Boston property updates via email that match your buying criteria – if there are updates to Boston condos that meet your criteria, we’ll send an email to you.
All you want to do is look for properties, and not be bothered with giving away all your personal information unless you find something that you like, now you can do that with free Boston MLS access and free Boston property updates via email.
Mortgage rates have fallen on news of the housing market slowdown - 30-year fixed-rate mortgage declined to 6.22 percent from 6.30 percent, which is on par with rates a year ago.
NEW YORK (CNNMoney.com) -- Mortgage rates fell in the past week as lenders showed concern for the effect the slowing housing market would have on the economy, according to a survey released Thursday.
Should you ever find yourself in a situation where, during the purchase of a home, the home appraisal comes in low, what do you do? Educate yourself with tips on disputing an appraisal on your home. To have a low appraisal come back from your Lender's Appraiser is somewhat of a rare happening, but it does occur on occasion, so prepare yourself for dealing with a low appraisal.
Think of the buy-versus-rent relationship as akin to a price-earnings ratio for stocks. The housing ratio rises as rents fall, home prices climb, or both. Some markets sport historically high--maybe dangerously high--ratios. The P/E in Miami, where p is the median mortgage payment and e is the median apartment rent, has spiked from approximately 13.5 in 2001 to 24.3 in the summer of 2006.
Other similar markets: Boston, Los Angeles, Las Vegas, Phoenix, and Washington, D.C. Until these housing P/E’s revert back to more normal ranges – the national average is 15 – you may find renting a bargain. These types of markets force homebuyers to take a hard look at their motivations for buying.
Can you believe it, the Bryant on Columbus condos are now built and ready for you to move in! At least that's what this picture is showing, right? Well, unfortunately, there is still a big hole in the ground with a large crane in the middle of it....so, you can't move in just yet, but this picture is a nice mock-up of what the development will look like in a couple of years.
The worst may be over for the condominium market in greater Boston, as newly released data show that sales of condo units rebounded in the City of Boston during the fourth quarter of 2006, climbing 0.9 percent over the same three-month period the previous year, while condo sales in the 54 cities and towns served by the Greater Boston Real Estate Board fell by just 100 units, or a modest 4.7 percent, in the final quarter of last year compared to the same quarter in 2005. The relatively stable sales pace follows sales declines of 12 percent and 15 percent in Boston during the second and third quarters of 2006 respectively, and decreases of 8 percent and 20 percent throughout the GBREB jurisdictional area in last year’s second and third quarters, an indication that demand is improving and a recovery in prices may not be far off.
Notably, in greater Boston, the median selling price for condominiums slipped 2.7 percent in the fourth quarter to $327,000, but was down just 1.4 percent on an annual basis last year, declining from an all-time high median price of $345,000 in 2005 to $340,000 in 2006. Meanwhile, in Boston proper the median selling price for condos sold in the final three months of the year fell 7.1 percent from the same period a year earlier to $325,000, however the annual median selling price was flat in 2006, at $349,000.
On an annual basis, sales of condominiums declined 7.6 percent in the City of Boston during 2006 from one year earlier, while sales activity dropped 9.5 percent across the larger 54 community GBREB jurisdiction. Nonetheless, the 9.529 condos sold in greater Boston in 2006 is the second highest yearly sales volume on record, topped only the 10,526 units sold in 2005. Statewide, last year, condo sales fell 12.1 percent, from a record 23,536 in 2005 to 20,698. For complete quarterly and annual data on the condominium and single-family home markets in both greater Boston and Massachusetts, visit the Housing & Research Data section of marealtor.com.
