boston buyer agent: Boston's Back Bay Average Condo Prices
- 02/09/15 12:21 AM
Boston's Back Bay condo market remained strong in the last half of 2014 with prices comparable to what they were in the busy 2014 spring / early-summer half. With an average price of $1.43 million and average price-per-square foot going over $1000.00 sales continued to be brisk with many final sale prices going for over the initial asking price. In an upcoming post, I will look at how these prices break out into 1 and two bedroom condos for Back Bay as well as many of Boston's other neighborhoods.
… (0 comments)
boston buyer agent: Back Bay / Beacon Hill / South End Market Update - Q1 2014
- 04/24/14 02:38 AM
Just ran the numbers for 1 and 2 bedroom condos from MLSPIN for Boston's Back Bay, Beacon Hill and South End neighborhoods for the first quarter of 2014. The bitter winter and lack of inventory worked to limit the number of sales but you can see that in some areas prices dipped a bit and in others they continued the climb. One item to note is that the 2014 figures are just for the first quarter and the other data points reprsent entire year results:
… (0 comments)
boston buyer agent: Boston Luxury Condo Price Update
- 01/22/14 12:30 AM
If you are looking to buy a luxury condo in downtown Boston (Back Bay, South End, Midtown, Beacon Hill, North End or Theatre District with 2 or more bedrooms and 2 or more baths), you are going to probably be paying more in 2014. Looking at the data from MLSPIN, we see the strong upward trend for this market continuing for the foreseeable future.
… (0 comments)
boston buyer agent: Lack of Inventory Driving Up Back Bay Condo Prices
- 01/13/14 06:12 AM
The lack of inventory in the Back Bay condo market is contributing to further price increases. In the 4th quarter of 2013 we saw that the average price of a Back Bay condo increase to $1.265M up from $1.114M in Q3-2013 with a sales price to list price ratio of 97%.
… (0 comments)
boston buyer agent: Back Bay Single Family Homes Up $2.3 Million in 2013
- 01/13/14 05:51 AM
Now that the final 2013 sales are in MLSPIN, we can see that the Back Bay single-family home market did very well in 2013. Average home prices were up $2.3 million from Q12012 and $4.3 million from Q1 2007 - not a bad return on investment (plus a place to call home) :)
… (1 comments)
boston buyer agent: If A Buyer Waives A Home Inspection, Is The Seller At Risk?
- 07/02/13 10:39 PM
Over the past year or so, the Greater Boston real estate market has seen explosive growth in the number of multiple-bid scenarios. With an improving economy and a limited number of homes available for sale on the market, buyers have been pursuing properties very aggressively. In some cases there may be 15-20 offers on a single-property with offers 10-20+% over asking price. Along with this, there has also been an increase in the number of buyers that are willing to forego some traditional contract contingencies such as home inspections, radon inspections, and mortgage contingencies to make their offer more attractive to a … (1 comments)
boston buyer agent: Greater Boston Real Estate Update - First Half 2013
- 06/28/13 01:25 AM
With the end of June we begin the second half of the Greater Boston real estate year. I find it helpful to take stock of a few of the significant events and trends over the past six months to help anticipate what we are going to see for the rest of 2013. Please remember that these observations are from experience within the overall Downtown Boston and Greater Boston real estate markets – within each market there are variations and exceptions - for a more specific overview of a particular market or neighborhood, just let me know and I would be happy … (0 comments)
boston buyer agent: New City Fines For Condo Owners In Boston
- 05/03/13 05:19 AM
Whether you live in Boston or not, this new set of regualtions has the potential to impact homeowners across the country that live in older buildings. Please take a minute to take action agains this onerous new regulation that will only hurt homeowners and tenants by clicking on this link to send a clear message to Boston City Council to stop this proposal - https://realtorparty.realtoractioncenter.com/site/Advocacy?cmd=display&page=UserAction&id=2671 From The Greater Boston Real Estate Board: The Boston City Council is considering a new ordinance that will act like a new tax on condominiums, require reporting of utility and water bills to … (1 comments)
boston buyer agent: Is Glee Promoting Dangerous Behaviour?
- 04/25/13 10:12 PM
Did the producers of "Glee" knowingly endanger millions of viewers last night? In one of the opening scenes of the episode, Santana drags a chair she found on the street into the condo in hopes of "reviving" it. Unfortunately all that she has done is expose herself as well as everyone else in the building to a potentially nasty case of bed bugs. Bed bugs are parasites that feed exclusively on human blood. They are often carried from one location to another via exposed clothing, suitcases and furniture. Once inside a building they are very difficult and expensive to eradicate since … (0 comments)
boston buyer agent: Energy Efficiency Rebates / Freebies
- 03/29/13 11:58 PM
If you live in Massachusetts now may be the time to think about improving the energy efficiency of your home. Through Mass Save there are thousands of dollars in rebates available for projects that will improve the energy efficiency of your home and save you money in the future. From energy audits to free light bulbs to significant rebates for installing or improving insulation - it all adds up. For more information, just visit http://www.MassSave.com … (2 comments)
boston buyer agent: Bidding War Mistake #1 - Removing Contingencies
- 03/26/13 11:24 PM
If you have seen today's Boston Globe or have been reading my blog over the past few months, you know that the Greater Boston real estate market (including Boston, Cambridge, Arlington, Somerville, Brookline, Newton) is squarely in a "sellers market" condition. The caveat to this is that as long as the property is priced right for location, condition, and amenities - not every property is involved in multiple-bid situations. Buyers have to be careful about offering too much for a house and foregoing important contingencies. Buying a house and buying the "right" house for you are two different scenarios. Buyers need … (1 comments)
boston buyer agent: Time To Get The Financial House In Order
- 03/21/13 12:30 AM
If you are thinking about buying in the Spring 2013 market, you need to start NOW to get your financing in order. In a competitive market such as the one we are going to see over the next 6 months, a seller makes their decision on whether to accept a certain offer based upon the likelihood that the deal will close. The stronger the financing, the better off you will be. Cash remains king, but solid financing and an offer crafted by negotiation experts like Buyer Agents of Boston will set you apart from the rest of the pack. You will … (0 comments)
boston buyer agent: Menino Pushing For Onerous Regulation And Fines In Boston
- 03/20/13 12:52 AM
If you live or own property in Boston - as a renter, homeowner, or investor - you need to be aware that Tom Menino is pushing for even more regulation to the tune of hundreds of millions of dollars. This onerous regulation is going to require property owners and residents to submit energy usage or face fines of up to $9,000.00 for residents or $90,000.00 for commercial property owners. The details from the Greater Boston Real Estate Board are below, but this is clearly a "stick" vs "carrot" approach and has not produced any tangible benefits in energy conservation in areas … (1 comments)
boston buyer agent: 270 Open Houses This Weekend
- 01/25/13 04:48 AM
I just checked the multiple listing service (MLS) and there are over 270 Open Houses scheduled for Saturday, January 26 and Sunday, January 27 across Boston, Cambridge, Somerville, Arlington, Winchester, Waltham, Lexington, and Belmont. Just click here for complete schedule and property information - http://www.buyeragentsofboston.com/searches/2229671.rss Which ones will you be going to? … (0 comments)
boston buyer agent: Fiscal Cliff Deal Impact On Homeowners
- 01/03/13 03:55 AM
Home owners can breath a bit easier now that the fiscal cliff agreements have been finalized and signed into law. Through the efforts of the National Association of REALTORS (NAR), many important provisions of the tax code have survived including the Mortgage Cancelation provision, deduction for mortgage insurance premiums (PMI), continuation of the $250/$500K capital gains deduction on the sale of a primary residence, and an extension of the energy efficiency tax credit. Given the high cost of real estate in the Boston, Cambridge and the Greater Boston area, these provisions have a very real and important impact on the financial … (0 comments)
boston buyer agent: Boston's Landlords May Be Hit With Onerous New Regulations
- 12/12/12 09:05 AM
Earlier today I received news that once again, Boston Mayor Thomas M. Menino is pushing for onerous and unprecedented control over rental properties. In November 2012, the Boston City Council struck down a similar measure as being duplicative of current rental housing laws (which are some of the most stringent and tenant-focused in the nation) that protect tenants for substandard rental properties that do not comply with the State Sanitary Code. The City has systems, staff, regulations and legal options already at their disposal to deal with sub-par landlords - this is clearly an effort to "kill a fly with a … (0 comments)
boston buyer agent: Charlestown Real Estate Forecast - Stable But Prices Will Be Rising
- 12/07/12 09:07 AM
Real estate statistics are generally reported comparing month to month or year to year, however I think that gives an unrealistic picture of a market. Since most homeowners live in their home for an average of 7 years, I advise my clients to look at a market performance over a 6 or 7 year period. If we look at Charlestown sales for the fall market (properties closed from September 1 through November 30) for the years 2006 and 2012 (according to data from the MLSPIN), we see that the 2 Bedroom and single-family market stable to strong while the 1 and … (0 comments)
boston buyer agent: South End Boston Real Estate Up 24%
- 12/07/12 08:29 AM
Real estate statistics are generally reported comparing month to month or year to year, however I think that gives an unrealistic picture of a market. Since most homeowners live in their home for an average of 7 years, I advise my clients to look at a market performance over a 6 or 7 year period. If we look at the South End market in Boston (based upon data from MLSPIN), it shows that average 2 bedroom prices have risen 24% based upon November 2006 to November 2012 sales. The average 2 bedroom sold for $643K in 2006 and, in 2012 sold … (1 comments)
boston buyer agent: Boston Real Estate Forecast - December / January / February
- 12/03/12 05:28 AM
Over the past 10 years I have seen a big increase in the number of car companies having sales and advertising that the perfect holiday gift would be a new car. I think that this year, the real estate community missed an opportunity to follow their lead because there are some opportunities for some good deals in the market as the holidays grow closer. As the end of the year draws closer, many sellers start to get anxious about being able to sell and close before April / May 2013 if they have to wait for the early-spring market. They know … (0 comments)
boston buyer agent: You Paid How Much For A Parking Space?
- 11/16/12 01:09 AM
If you live in Boston and own a car I am sure that around this time of year you start thinking about where you are going to park your vehicle when the snow and ice hit (not to mention street cleaning). If you live on Beacon Hill, I have the perfect solution for you. A valet parking spot just opened up inside a Beacon Hill garage and the cost to buy it is just $300,000.00 (plus a $250.00 a month maintenance fee). Interested? Just let me know and I will be happy to set up a private showing.
A great resource if you want to know more about the Greater Boston real estate market.
Gary Dwyer is Broker / Owner of Buyer Agents of Boston, LLC and an exclusive buyer agent serving all of Boston's neighborhoods, including Back Bay, South End, Beacon Hill, Waterfront, South Boston, Dorchester, Roxbury, and Jamaica Plain as well as Quincy, Arlington, Cambridge, Medford, Malden, Somerville, and Winchester.
Boston's Back Bay condo market remained strong in the last half of 2014 with prices comparable to what they were in the busy 2014 spring / early-summer half.
;)
;)
