According to Link and the Boston Globe, condo sales are up over 20 percent year over year, while the prices are slightly lower (about 4%) than 3rd Quarter 2010. As our sales are increasing at Proper Realty Group, we are in agreement that confidence is up with home buyers and investors. Most of our home-buyer clients are locking in fixed rates from lenders between 4% and 5%. Additionally, with Boston rents reaching historical highs, many properties are showing 5-10% returns and cap rates.
The article from the Boston Globe can be seen here.
Broken Macbook or iPhone? No problem. New apple product. Again, no problem.
Proper Realty Group has been utilizing the services of The Computer Loft in Allston for quite some time now. Located at the Brighton Ave and Fordham intersection, this computer store specializes in new and used apple products and repairs. We have purchased more than a few Mac minis, hard drive replacements, screens, you name it.
The service at the Computer Loft is where the business shines. Alex at the front counter is possibly the most knowledgeable person we have dealt with in the computer sales and repair industry. Everyone in the shop is always courteous and the prices are great.
Yet another luxury apartment rental building is being constructed in Boston. This time we are afforded a 381 unit glass and brick apartment building in Downtown Crossing on Washington St. We are expecting amenities such as a fitness center, heated pool, and concierge. With such an influx of residents, we are sure there will be some good retail coming into the ground level commercial spaces of the building. The project is expected to be completed by Summer of 2013 and we assume the 1 bedrooms will run $2300 and 2 bedrooms will run $4000-$4500.
This is steps from Archstone Boston Common, another luxury building that we have rented out over the years. If you have an interest in properties downtown. let us know. They are at all time highs these days with such low supply and still moderate demand.
Just came across a nice little article from Boston.com about how many of our neighbors are dealing with foreclosures on their homes. The article can be viewed at
New programs are extending the time it takes from defaulting on your loan to the actual seizing of your property. Additionally, there are services available for loan modifications that will help many get out of complete foreclosure. Those that were enticed to take adjustable rate loans, and are now seeing the rates rise to obscene amounts (8-12%), have some options to not get crushed financially.
The article is good reading. Give me a call if you have questions about dealing with foreclosures, short sales, or if you are interested in picking up some bank owned properties. 617-756-3029
That’s right. We’re making it easier for everyone.
No more wasting time being surprised by hole in the wall apartments. At Proper Realty Group, we are actively taking video tours of all that is available. Now you can spend a few minutes on Youtube previewing properties instead of going out for hours and walking into new homes blind.
Take a few minutes to see our 1080P videos and give us some feedback. REMEMBER – this is making it easier for the industry!!
It truly is important to understand the logistics of owning a condo. Depending on the market value of your property within the association, you might be in a majority or minority position on making decisions for the households. The last thing anyone wants is your neighbor telling you that a new roof is needed and $10,000 needs to be delivered immediately.
So when purchasing that new condo, it is a necessity to investigate the condo docs. The reserves, meetings, and general operation of the association can either help you sleep easier at night, or keep you up with stress.
Proper Agents and our support team are experts at helping you not have a horror story like those 2 unfortunate parties in the article.
I hope everyone had a great Thanksgiving with lots of turkey, mashed potatoes, and cranberry sauce. Now, we’re back with a new article!
Roseland Property Co. began its development at East Boston called the Portside at East Pier in 2005. It had to halt its work in 2007 as the real estate market began to slow down.
The construction of this massive 176-unit apartment building complex plus retail space for restaurants, shops, etc. will resume in Spring 2011 if the company can convince its lenders. This is great news for the locals since business will be revived and this will attract more people to this potentially booming area.
Although the economy is moving at a snail’s pace, the Boston City Council recently set up more stringent energy-efficiency rules for new buildings. In the long run, this will be a beneficial move for Boston because the total consumption of energy will go down significantly. Both public AND private surplus. What saves you money saves the planet. Check out the rest of the article below.
“The Boston City Council yesterday approved tougher energy-efficiency rules for new buildings, casting aside arguments from developers that the measures are expensive and make it harder to build in the current economic climate.
Set to take effect in July 2011, the rules require new homes and commercial buildings be designed to consume 20 percent less electricity than properties built under existing standards. Builders can decide how to achieve the reductions, choosing among options such as more efficient heating, ventilation and lighting, thicker insulation, and more advanced materials.
‘This gives flexibility for the developers and saves money for property managers and homeowners,’ said Councilor John Connolly.
The rules will also apply to major home renovations that require city permits.
Connolly said the city will consider waiving the requirements for projects that already have permits but have not yet begun construction. However, such a waiver is not written into the new law, so developers will have to negotiate with the city.
Boston is the 59th Massachusetts community to adopt the rules, which were proposed as part of a 2008 state energy reform law.” – Boston.com/realestate (Casey Ross, Globe Staff)
Very Interesting article this morning about major developers getting their feet wet again with luxury apartment buildings. Avalon Bay will be constructing (hopefully) a 28 story building right in the heart of the Back Bay. Units are going to be ranging in size from studios to 3 Beds, from $2000 to $8000 penthouses.
The Back Bay could definitely use more units and Boston should build as high as the sky. We love the 4 story brownstones, but we were never a fan of walk-ups. I enjoy looking out the window at the Prudential and the Charles.
More housing in one of the nicest areas in the country? Yes, please.
The article can be read here: http://bit.ly/cX0qhb
Broken Macbook or iPhone? No problem. New apple product. Again, no problem.
