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The W Boston Luxury Condos in the Heart of the Theatre District is teetering on financial health's edge as a reported possible foreclosure in The Boston Courant today.

Will this mean more than the city losing over $10 Million which it lent to the developer, Sawyer Enterprises, to finish construction including one of Jean-Georges Vongerichten's (world renowned) Market Restaurant reviewed so well by so many.

Considering not enough potential buyers are voting with their check books, a possible foreclosure would eventually place the properties back on the market at prices that are much more attractive BUT not a good move since that usually means decisions are made too quickly and prudent ones that attain maximum returns are not passed over.

What might be in the best interest of all would be aggressive re-pricing to attract many who will be looking for the bargain at this premier property.  Doing so would mean a bidding contest on these aggressively priced units achieving a market sale price. 

What about your questions?

-Will units be tainted if you buy after foreclosure?

-Will units sell for less than they should down the road?

-Who pays the unpaid condo fees if any?

-Who fixes anything that's broken within the 1st yr. you own?

 
Well before you buy... seek one of our Boston Realty Advisors who knows what you need when considering a purchase or a sale of property in Boston!

Do not sell this Winner short leaving Boston with a loss.  We all deserve better than a foreclosure on what will be looked upon in the near future as a terrific anchor on the lot that, since I was a kid, was a rutty open space that by day was less than full and overly so when there was theatre at the Wilbur, Sbert or even at the old Music Hall (the Wang Center)!

How about one of any other Boston Luxury Condos for sale now in the Boston Marketplace?  See them through Boston Realty Advisors!

Post by David Friedberg, CEO-Residential Division, REALTOR, CRB, CNS

Boston Realty Advisors will sponsor the 3rd Annual Charity Tennis Tournament and Dinner to benefit the Parkinson's Disease and Movement Disorders Clinic at Beth Israel Deaconess Medical Center (BIDMC).

The event, which will take place on Wednesday, September 29, 2010 at the Longwood Cricket Club in Chestnut Hill, MA, will feature tennis matches on grass courts followed by a cocktail reception.

Last year’s tournament was a huge success and raised $19,000 to benefit the Center for Violence Prevention and Recovery at Beth Israel Deaconess Medical Center.

This year’s featured cause, the Parkinson’s Disease and Movement Disorders Clinic, is an outpatient unit of BIDMC that specializes in the treatment and diagnosis of individuals suffering from a wide array of movement disorders, including Parkinson’s disease, tremors, gait disorders, and drug-induced movement disorders.  The Clinic’s superiority in research, education, and overall care for patients has earned it the prestigious honor of being designated as a “Center of Excellence” by the National Parkinson Foundation.

Please join Boston Realty Advisors in supporting a great cause at what is sure to be an exciting and rewarding event. For more information, you can visit the tournament’s website.
 

According to a recent study conducted by the Texas Transportation Institute, commuters waste 2.8 billion gallons of gas and spend 4.2 billion hours in traffic each year. Another study conducted by the Center for Neighborhood Technology reveals that typical suburban households spend about 32% of their income on transportation costs, while households closer to public transportation spend only about 12%.

When deciding where to live, you want to consider the role of transportation and what it will be costing you, as well as how “walkable” your area is to avoid the hassle of driving. If you’re willing to spend enough to invest in a Boston luxury apartment, you at least want to make sure it’s near some form of public transportation. Many people who are searching for a Boston property now find themselves utilizing the help of Walk Score, an online index that answers questions such as ‘what will my commute be like?’ and ‘can I afford this home given the anticipated transportation costs?’.

Walk score recently launched a new tool on their website, Transit Score, which takes this calculating a step further. Transit Score is a home and transportation costs calculator which also provides a 0-100 rating of proximity to public transportation. All you have to do is enter the address of the Boston real estate property in question- it’s that simple!

Find out your Transit Score for free! Also be sure to browse our online Boston luxury apartments and rentals.

$220 Million London Penthouse World's Most Expensive Real Estate Sale!

Can you imagine?

20% down - a mere $44 Mil

$840,250.92  monthly payment @ 4% - (current Jumbo quote was lower than 4%)

When Boston's record condominium sale tops $110 M...

After inflation sets in and maybe many years from now

if Interest rates only double to 8% then

$1,291,425.65 will be the monthly payment on an 80% mortgage

You know what that means, right?

Compared to $220 M, the $110 M sale with above scenarios means...

blog post by:

David Friedberg, Chief Executive Officer - Boston Realty Advisors - Residential Division
•    2008 President - Greater Boston Association of REALTORS
•    2009 REALTOR of the Year - Greater Boston Association of REALTORS
•    Certified Residential Brokerage Manager (CRB)
•    Certified Negotiation Specialist (CNS)

What's a Bike Box?  Why are bike lanes along Comm Ave Mall instead of on right side of the road like most everywhere else? 

Applaud Mayor Menino for trying to make Boston more"bikeable"  however, as biker or driver there's bound to be some hits and misses along the way. 

Biking for cause comes to Boston courtesy of "Lance" Menino: 

HubOnWheels ...founded in 2005 with three goals:

• Create important civic event
• Showcase Boston’s neighborhoods & parks incl. Storrow Drive car-free!
  
• Raise money for important causes (i.e. Technology for kids in need).

Win a bike!  for your thoughts on biking!

Pan Mass Challenge (just this past weekend) benefits a Boston Institution, The Jimmy Fund / Dana-Farber Cancer Institute.  2010 expect $30 Million!

• Many ride choices, none in Boston, up to 192mi. in two days - Sturbridge to P-town
  
• Attracts over 5,000 riders from all over the world
  

So ride a bike, slow down, see more, help a cause and be green!

Blog Post by:

David Friedberg, Chief Executive Officer - Boston Realty Advisors - Residential Division
•    2008 President - Greater Boston Association of REALTORS
•    2009 REALTOR of the Year - Greater Boston Association of REALTORS
•    Certified Residential Brokerage Manager (CRB)
•    Certified Negotiation Specialist (CNS)

Living & work spaces are becoming more modern in the Fenway!

As far as I can tell, this is the area where the newly proposed (already successful in the neighborhood) Samuels development is slated. 

Article from Boston Business Journal in regards to Boston Real Estate, Fenway.

David Friedberg, Chief Executive Officer - Boston Realty Advisors - Residential Division
•    2008 President - Greater Boston Association of REALTORS
•    2009 REALTOR of the Year - Greater Boston Association of REALTORS
•    Certified Residential Brokerage Manager (CRB)
•    Certified Negotiation Specialist (CNS)

 Happenings around town good for all!

Condominiums  New construction project in South End slated to be finished end of next summer should be "edgey," successful  & in good company with this nearby South End Luxury Condominium!

 Apartments  As reported in Boston Courant, Luxury Prudential Apartments could expand (discussed for years).  Owner Boston Properties may partner with premier apartment developer AvalonBay.  If you can't wait rent something else like at Back Bay Luxury Rentals.

Restaurants  Speaking of the Pru, Towne Restaurant Update is...Just opened a week ago and is hopping...Chic space - two levels, 3 bars, 3 dining areas plus private one.  Lydia knows...build a menu of light and full meals, deliciously present the lushious fare and be different - lobster has it's own menu and desserts look great!

Newbury Street 

Despite more vacancies on Newbury than in years, plenty of building owners increasing rentable space by digging out front yard and opening up lower level.

Also, sidewalks & lighting being replaced by city...even safer for diners & shoppers = help the economy ...you get the positive spiral on this one!!

 VIVA Boston!

Blog Post by:

David Friedberg, Chief Executive Officer - Boston Realty Advisors - Residential Division
•    2008 President - Greater Boston Association of REALTORS
•    2009 REALTOR of the Year - Greater Boston Association of REALTORS
•    Certified Residential Brokerage Manager (CRB)
•    Certified Negotiation Specialist (CNS)

Contrary to popular belief, the Boston area real estate market is more active not just because of the First-Time Buyer Stimulus Program, lower prices and historically low interest rates but for other reasons as well!

Check out the table below and these stats June 2010 Comparison, and June Stats (1996 - 2010).  Then you can read more details here: June #s converted to detailed read

You'll find that although the number of pending property is down, no doubt due to the fact that the stimulus program has ended, it's not down by the percentage increase caused by the stimulus program - there has been an increase if you strip away purchases due to stimulus that would otherwise not have bought in previous months.  Also telling of this now-stronger market is the fact that sale prices have risen despite the increased number of buyers in the lower priced stimulus program range! 

So here's some of the info to consider why it's a better market now:

 I would guess that confidence in the market is building because the lowest inventory in 42 years plagues some parts of Boston, there's pent up demand, and many are realizing that trading up to a higher priced property will more quickly recover any  losses they've had because X% appreciation translates to more actual dollars when calculated on a higher number (read property prices).

Don't be surprised when you experience, read or hear about multiple offers on property and you know what that means...

         ...Higher prices, higher interest rates and some people kicking themselves that they didn't buy back then (now)! 

When's the best time to plant a tree?  Twenty-five years ago so that it grows. 

So when is the second best and more realistic time to plant a tree?   NOW!

                             *                                 *                               *        

Blog post -  David Friedberg, Chief Executive Officer - Boston Realty Advisors - Residential Division

• 2008 President - Greater Boston Association of REALTORS
• 2009 REALTOR of the Year - Greater Boston Association of REALTORS
• Certified Residential Brokerage Manager (CRB)
• Certified Negotiation Specialist (CNS)

Bravo Mr. Mayor and Governor Patrick. This is well needed, especially in this area of town.

Currently, Haymarket looks very tired and dirty.  With this new addition abutting the beautiful Rose Kennedy Greenway (Big Dig cover), the former gap between Government Center and the Financial District will better bridged with the North End, Waterfront and Charlestown.  What a great benefit to the neighborhood, the residents, those working in the area and the tourists whose quality of life will improve!

See the Boston Globe Food Market article.

Check out these great Luxury Buildings that will benefit from this – each built with-in the last ten years!

Folio Condominiums

Battery Wharf Condominiums

Strada Condominiums 

Blog post -  David Friedberg, Chief Executive Officer - Boston Realty Advisors -Residential Division

• 2008 President - Greater Boston Association of REALTORS
• 2009 REALTOR of the Year - Greater Boston Association of REALTORS
• Certified Residential Brokerage Manager (CRB)
• Certified Negotiation Specialist (CNS)

Across the open space next to the Boston condos and residences at The Mandarin Oriental and within a couple of blocks of Exeter Towers Apartments on Newbury a new restaurant, Towne Stove and Spirits, appears to be carved out of stone!  Filling the here-to-fore architecturally blank northeast corner of the Hynes Convention Center, owned by the Massachusetts Convention Center Authority.

This new eatery is slated to open by the beginning of August and expect it to be something unconventional and be a new center for those of authority to gather!

 Would you expect any different from the likes of powerhouse Chefs Lydia Shire & Jasper White directing Executive Chef Mario Capone and owners Pat Lyons, Ed Sparks & Partners and The Lyons Group?

Developed by the Convention Center Authority and the Lyons Group, this well-planned, distinctive outdoor and duplexed indoor space is sure to add to the already bustling edge (so say some) of the Back Bay which has been extending west in recent years.

Seems as if it wont be long before the already approved and moving ahead air rights development between here and the Medical Area known as Fenway Center will be filled in and part of the Back Bay as well.  So, do you think the whole of Fenway and Brookline will be annexed by the Back Bay?

Follow this link to browse Boston Realty Advisors' extensive list of available Boston luxury condos and apartments. 

Blog post by David Friedberg, Chief Executive Officer - Boston Realty Advisors -Residential Division

• 2008 President - Greater Boston Association of REALTORS
• 2009 REALTOR of the Year - Greater Boston Association of REALTORS
• Certified Residential Brokerage Manager (CRB)
• Certified Negotiation Specialist (CNS)