Archive for the 'Boston Residential Real Estate' category

The Fenway, one of Boston's more notable areas, may soon be holding the title of the state's first Cultural District.

If given the support at today's November 14th, City council hearing, the Fenway Cultural Districy (FCD) will be able to apply for the designation; which is given to areas rich in cultural institutions.  The idea of Cultural districts were introduced during a state legislature vote last year as part of an economic development bill.  Due to the newness of the program, the Massachusetts Cultural Commission (MCC) has not deemed any other Boston areas as "Cultural Districts."

The hope is that marketing the Fenway neighborhood as a cultural district will bring about increased tourism, public improvement projects, and higher property values. Which in turn has promise to help boost the local economy by helping to keep businesses afloat and appearances up to par. 

Unfortunately, funds have not yet been set aside by the state to help this program get on its feet.  So for at least a year most of the funding will be done by local organizations and fundraising.  "It's in a dream phase...We'll hopefully see see a lot of concrete things come out of this (hearing)," said Kelly Brilliant, executive director of the Fenway Alliance. "We would really like to think of this as enhancing the entire neighborhood."

If supported by the local elected leaders, the application will hopefully be filed with the MCC by the end of the month, says Brilliant.

Click here to browse Fenway-area condos for sale.

According to the National Association of Realtors Q3 report, Boston metro showed improvement in median home prices while most others were down.

Condo median prices are up 1.9% and single families are up.3% over Q2. We say that means it's a good time to sell your home!

You can read more context in this article on Bloomberg.

As I am sure many of you have read, Boston is undergoing several transformations throughout several of its neighborhoods. Some are undergoing new additions, while others are getting renovated.

Here is an inside look with David Manfredi, principal of Elkus Manfredi Architects, whose firm happens to be one of which that is highly involved with several current/upcoming projects.

"Given all the development in places like Dudley Square, the Fenway, and the South Boston Waterfront, how do you expect the design and atmosphere of the city to change in coming years?

We’re very fortunate, planners and architects especially, to be in Boston. There is activity here, and there are large parts of the country where there’s not nearly as much activity. What’s exciting is that we have this incredible waterfront that sits right next to our downtown, and there is a lot of development there now. It’s not like we’re building at the edges; we’re building so close to the heart of everything." ...Read more HERE (photo credit boston.com) 

NEW TO THE MARKET!  SPACIOUS, IMMACULATE JAMAICA PLAIN LOFT FOR SALE!

Last week I got a call from a listing agent to preview a loft in the Boston Area about to hit the market, which is always a pleasure, as I'm eager to get a jump on what's coming up and always willing to give an opinion when asked. It's rare to find something I haven't seen before, but this one was in a complex that I had actually never visited in Jamaica Plain.

From the photo that was sent to me, I knew I was going to see something special, but I was truly delighted by what I saw when the door was opened. 
Every detail in this delightful modern / clean / bright / inspiring loft is about as perfectly thought-out as you can find. From enormous windows to giant canvas-ready walls, to the elegant and industrial style staircase anchoring the levels, to the airy & extremely functional kitchen and dining areas, to the hardwood floors (YES they are gleaming), to the lofted Master Suite (perfectly perched over the huge livingroom) with a spa-like bath, this is about as flawless as it gets with a loft.


Usually when I'm assisting a client in their search, about half of the loft spaces have a "flaw" – well, because lofts sometimes don't always give you much storage or closets, or there is something to be desired in the layout. I really can't find anything that I don't like about this loft! It has amazing storage space (even the well-place murphy bed minimizes the space taken up in the lower level is a thoughtful touch), tasteful lighting, well-designed baths / pantry / closets. The bonus is an easily accessible roof area that is ready to for a roof deck - Boston views included!


Oh, and ever so convenient is that it's steps to the Green Street T stop in Jamaica Plain, has parking included, and is on the bike path!



• 1900 Square Feet (although feels closer 25')
• 2 Bedrooms (including the amazing Master Suite)
• 1 Full Bath & 1 Half Bath
• Parking Included
• Great Jamaica Plain location
• Price: $519,000

Citybizlist.com recently featured Boston Realty Advisors (BRA) in an article about the realty company's announcement that the owners of the historic Brownstone at 86 Commonwealth Avenue have decided to use BRA to sell the property.

One really could not ask for a more beautiful building in downtown Boston.  86 Commonwealth is a four-story (including the basement) French, Academic style, brick brownstone with tandem parking for six cars. Designed and constructed by acclaimed architect T.P. Briggs in 1877, this building is rich with historic detailing that is difficult to find and gives residents and visitors a feeling of deep, historic luxury.  How often do you come across hand carved marble mantels, wainscoting, mahogany staircases, and ornamental crown molding all in one home? You'll find all of that and even more ornate touches at 86 Commonwealth.  

According to Jason Weissman, BRA Principal and Founder, "86 Commonwealth has so many potential uses, it could be an incredible condominium conversion, or potentially a single family."  Boston Realty Advisors is currently offering tours of the property by appointment to qualified buyers.  If you would like to schedule an appointment, contact Boston Realty Advisors.

View the original article on citybizlist.com

Boston Realty Advisors (BRA) was featured in the July 15th, 2011 issue of The Real Reporter because they are currently handling two exciting listings in Back Bay that will prove to be great rehabilitation projects. 

493-497 Commonwealth Avenue

Formerly the JS Waterman Funeral Home, BRA's listing at 493-497 Commonwealth Avenue has been out of use for several years, and is finally going to be brought back to life.  It is a 19,500 building currently in "shell condition."  This makes the building a blank canvas.  It may possibly become a residential space, but the central location could make for great offices or other forms of commercial space.  The building is right on the edge of Kenmore square, which is a great area and will soon benefit from major improvements to Boston's Green Line.  Boston Realty Advisors has not announced any definite details of a deal, but whatever happens, Kenmore square will soon have a new great space.

463 Beacon Street

Just a few blocks away, this beautiful building is currently a 20-room lodging house offering nightly and weekly rates.  This property may stay as is, but according to BRA founder Jason Weissman, it is possible that the space may work as a single household.  He also told The Real Reporter that converting the space to condominiums could be a viable and possibly more valuable solution.  The building has 2,400 square feet of frontage on Beacon street, easy access to Massachusetts Avenue and a slew of prestigious Universities, and six parking spaces in the rear.

Interested in these listings or looking for more information on buying or renting real estate in the Boston area?  Contact Boston Realty Advisors today!

 At 9 West Broadway in the Boston Seaport, bordering South Boston and the Financial District, is a handsome luxury penthouse loft waiting to be plucked off the market. Unit 605 is nothing short than impressive. Attached with a price tag of a cool $1.899 million, it’s definitely a Boston luxury condo worth checking out. 

 

1. Paranormal Selling Points: Does MLS have a field for "number of ghosts"? - [Boston.com] Photo credit: Boston.com

2. House Call: A Marblehead house in peril dials 911. [WHDH]

3. Style Secrets: No Trump money? At least you can have hair like the Donald.  [Huffington Post]

4. Conversation Starter: Twitter for real estate? Take a look at this article and leave us a comment with your thoughts. Or tweet us! @bradvisor [Boston.com]

5. Follow Up:  Remember yesterday's story about the man who tried to open a plane door? He could probably use these tips on overcoming embarassment. [Huffington Post]

These are just a few insights into competitive advantage in Boston real estate.
 

...and interest rates and housing prices are rising!

The American Dream..."Baseball, Hot Dogs, Apple Pie and..."

Work hard, and have a family.  The government and banks will help you buy a home that's affordable.  Live a good wholesome life, retire and leave your debt-free home to your kids. 

The American Nightmare...

Work hard, and have a family.  Buy a home you may not be able to afford, then have your wages drop or worse - lose your job, and lose your home!  Then realize you will have little or nothing left to give to your kids when you're gone.

The tax law subsidizing home ownership has and does help us have and enjoy the American Dream, the 'Apple Pie'.  Now, some say we've had too much pie, that it costs too much, it 'makes us fat' or worse, it kills us...

Recent propsals to remove ingredients from our Great Americal Apple Pie Recipe would result in loss of a fixed rate mortgage and removal of the IRS tax deduction of mortgage interest and real estate taxes on your primary residence..both are no better than a plain baloney sandwich!

The Obama administration released a proposal this past Friday that would make major changes to the U.S. housing finance system; restructuring it to reduce its dependence on federal subsidies.  Fannie Mae, Freddie Mac, and the Federal Housing Administration currently finance more than 90% of mortgages. 

The plan is to slowly put Fannie and Freddie out of business by gradually reducing the value of the loans they can guarantee and raising the prices they charge lenders. Plans will also require larger down payments from borrowers. The Treasury secretary, Timmothy F. Geithner, has indicated he expects these changes to take 5-7 years to fully implement, stressing that the housing market will dictate how slowly or quickly the agencies close.

So do we have to dream a new dream?  Go on this kind of fiscal diet?  Will we ever eat Great American Apple Pie again? 

Don't worry!  Home ownership has been and should be the engine that helps drives this country.  History has shown that in the long run, property values increase. 

Housing, like many other businesses, is cyclical- and despite the fact that there have been some bad patches,  no one should change this system without either coming up with an alternative plan, or make changes over a long period of time and include some protections for certain situations/owners.  If not, housing will devalue once again, and this time, there will be many who will be "under water" who would not have been of these changes dp come about.  At best they may have to change their lifestyle, be locked into staying in their homes that they cannot afford and worse yet, they could lose their homes.  

We do not want to see people on the street trying to find the Great American "Apple Pie" that is no longer available to any of  us.

Here is more of what may be coming:

New York Time - Shockwaves on the housing market?  

FORTUNE - Earthquake, are we really capable of handling this change to the mortgage industry?

Karl Case is a noted Professor of Economics at Wellesley College and founder of the research firm Fiserv Case, Shiller, Weiss Inc.  The S&P Case Shiller Indexes are the most widely accepted measure of home prices in the U.S.

He has been addressing the Realtors in Boston for years and for the first time in a long time, he has positive things to say about the housing market.  He said "the bust was a huge affordability program."  The Bubble was inevitable and the correction was needed - just like the correction we had in the late 80s and early 90s which was a precursor to the run up again in the early 2000s.

The above chart shows the now more affordable homes in Massachusetts based on the comparison of income to home values.  In addition, the combination of  historically low interest rates and what he calls imputed value of owning due to tax advantages - mortgage and real estate tax deductions compared to renting.

Housing is one of the leading economic engines.  With home prices down and interest rates down which in combination lead to a lower cost of owning the same home, we now need confidence that tomorrow will be better than today.

The "Spring Market" seems to have arrived early.