Back Bay Realty Group Blog » chris

September 1 Moving Tips

chris — Tue, 31 Aug 2010 18:03:48 +0000

Here’s a fun little post : Moving Tips from Budget!

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No More Negativity!

chris — Mon, 30 Aug 2010 20:37:03 +0000

The negativity about what’s currently going on in the housing market on the nightly news needs to stop! The major problem with it, is real estate is local! So, what might be true in Miami isn’t necessarily true in Boston. Take a look at this video to see what’s really going on in Boston’s Back Bay when it comes to housing.

Studio Charts:

1 Bed Charts

2 Bed Charts

3 Bed Charts

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Cambridge Condo for Sale Listed at $229,000

chris — Tue, 13 Jul 2010 14:02:45 +0000

Check out our newest listing:

This bright 1 bed, is the perfect starter condo for those looking to purchase a home in the city. The home has a great open layout and additional storage in the basement. Low condos fees and taxes make this place a wonderful place to start for young buyers. Call today to schedule an appointment: 617-449-3642.

2010 Spring Condo Market The spring Boston condo market has arrived early this year!...

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What Can Forrest Gump Teach Us About Real Estate?

chris — Wed, 30 Jun 2010 15:50:19 +0000

“Momma always had a way of explaining things so I could understand them.”

Real Estate agents spend a lot of time explaining things to people. For some people, they spend time explaining what’s going on in the market and what their home is currently worth. For others, it might be why the property they are looking at is a great deal. Perhaps the most frequent explanation is, why they charge so much? (Agents, think how many books are devoted to this subject.) If you’re going to hire someone to market your property, (and you should) you need to hire the person to who can explain things the best. You want the person who can properly convey what your home is truly worth and why it’s worth that much. Real estate can be a complex and tricky thing and when it comes time for most of us to learn things that are complicated, we want the best teacher out there. We want the person who can break down that complex problem and make it easy for us to understand. So if you feel you need greater understanding or if you feel you need further explanation call or email me and I’ll be happy to explain.

Real Estate Wars: Tom Brady Off Market The Real Estate Wars between Tom Brady and wife Gisele...
Real Estate Wars: Brady Vs. Bundchen The big news of the past week has been that...

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After the Tax Credit Ended

chris — Fri, 28 May 2010 01:35:32 +0000

The expanded and extended home buyer tax credit ended almost a month ago and since then, many have wondered what happened to the market? If you’re one of the one’s that been wondering, wonder no more we have the answer!

In Back Bay from 5/5/10-5/27/10 there were 34 condos sold. Out of the 34 condos sold 20 of them went for under $620,000 showing that despite an expired tax credit there are still plenty of first time buyers out there looking to purchase a home. During the same period last year only 16 Back Bay condos were sold. So will the housing market fall off a cliff as some have suggested? It would seem at this time that it’s unlikely but it’s still best to proceed with cautious optimism. If you’re interested in taking a look at what has come on the market recently or would like to discus listing your home for sale, please give us a call at 617-449-3642.

Tax Credit Running Out: 51 Days Left There are only 51 days left until the First Time...
First Time Home Buyer Tax Credit Extended! The First Time Home Buyer Tax Credit was officially extended...

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First 10 Days of May Market Report

chris — Thu, 27 May 2010 19:34:20 +0000

This month’s market data shows a return to the spring market and an improvement over last year’s crazy decline. The improvements in every neighborhood are a positive sign for the market but it will be more interesting to see what happens with the full month of data.

Back Bay 2010
11 Condo’s sold
Avg. Sale Price: $2,680,013
Avg. Price/Ft: $909.43

Back Bay 2009
9 Condo’s Sold
Avg. Sale Price: $1,514,778
Avg. Price/Ft: $919.01

Beacon Hill 2010
3 Condo’s Sold
Avg. Sale Price: $793,333
Avg. Price/Ft: $758.40

Beacon Hill 2009
1 Condo’s Sold
Avg. Sale Price: $637,500
Avg. Price/Ft: $671.05

South End 2010
13 Condo’s Sold
Avg. Sale Price: $604,962
Avg. Price/ft: $623.8

South End 2009
7 Condo’s Sold
Avg. Sale Price: $563,286
Avg. Price/ft: $609.80

First 10 Days of April Market Report The market data makes some interesting points this month. If...
The First 10 days of March Market Report The market data speaks for itself here. Condos in Boston’s...
The First 10 Days of February First 10 days of February 2010 market data: Back Bay...

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Landlords and Facebook

chris — Fri, 14 May 2010 18:45:43 +0000

Plenty of people have worried about their future boss seeing what’s on their facebook page but this week a new concern has popped up. What happens when your future landlord sees what’s on your page? This past week there was an application rejected because after receiving the application the landlord “Facebooked” the person applying and didn’t like what they saw. Photos of the applicant drunk large speakers in the background and people everywhere made the landlord uncomfortable that their place would be well maintained. The discovery is one that many people who have grown up with Facebook may have to deal with a lot more in the future.

The landlord didn’t break any fair housing laws when rejecting the applicant but at the same time it seems unfair. I’ll be the first to admit that a good portion of the photos on Facebook reflect this behavior but that’s because times of enjoyment are times when people take photos. No one has the photos of them studying for that large final exam, or when they are giving that big important presentation at work. So what can be done? Change your privacy settings. Know that just like your future employer may look at your Facebook page, so will your future landlord.

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Before and After

chris — Wed, 28 Apr 2010 02:17:41 +0000

It never ceases to amaze me what a big change some paint and furniture can make in how you view a space. Take a look at what Ashley Whitaker Design was able to do with this dining room.

Now see what some minor and major work can do.

The difference is pretty amazing and when you look at was done, it really was a lot! No worries though, you can get a similar look accomplished for much less. The major work that was done: removing the beams in the ceiling, staining the floors, minor electrical and adding the built in cabinet. Now how do you accomplish this all for much less?

Don’t worry about the floors! (If you don’t own, you can’t make this change anyways!) If you notice, an area rug covers most of the floor so there’s little bare wood showing anyways. Find a rug that works with your furniture in terms of colors and you won’t have to worry about the floor at all.
Don’t worry about custom built-ins. There are plenty of companies that make pieces you can self assemble that serve the same purpose. Ikea will allow you build a similar cabinet at half the cost of a custom built cabinet.
Paint changes everything! Perhaps one of the biggest changes you can make in a room, is the color you paint the room. Know what colors work well with the furniture you’re planning to place in the room. This is what will help make the change seem so dramatic. Most landlords allow tenants to paint as long as the tenant paints it back before they move out.

Three simple steps that can dramatically change the way a room looks and how it is used.

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Go Green with Outdoor Lighting

chris — Tue, 27 Apr 2010 21:13:26 +0000

Looking for another reason to change your outdoor lighting to something more green and still think cost is an issue? How much are fewer mosquito bites worth to you? I recently heard story that LED lights attract far fewer mosquitoes than regular conventional lights. After doing some research, it turns out the story is true. Mosquitoes are attracted to ultraviolet light which LED’s produce zero of. So if you’d like to enjoy some longer nights outside this summer but would like fewer bugs, switch to more environmentally friendly LED lights. You’ll be saving the environment and yourself a lot of pain.

Special thanks to Mike Holmes for this information.

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Boston Rental Market: Tough on Renters

chris — Tue, 27 Apr 2010 20:52:35 +0000

For those of you that are looking to rent an apartment in the 12 months hopefully you’ve read this article on boston.com or read it in the paper. The article goes on to describe a story that any broker who’s worked in the Boston rental market can tell you.

First, if you think you’re going to get a steal on a place because you’ve heard in the news rents are going down keep dreaming. The article in the paper wisely points out that a minimum you’ll pay for a unit in downtown is $1400. Is this a hard and fast rule, no are there places less than $1400 sure, but they are few and far between and they are smaller than some single dorm rooms. Despite some vacancies landlords are holding out for their price and not willing to compromise. In one case I heard a landlord tell someone about their offer “I’d rather use the unit for storage!”

Second, if you have a pet especially a dog or are a family with small children who need a lead-free apartment it’s a very small market. Rental brokers have been telling people for years that if you have a dog it’s a very small market, very few owners and buildings for that matter take dogs. Unfortunately there are double standards in some buildings which can confuse people even further. At the Ritz and One Charles, owners are allowed to have dogs but anyone renting one of the condos cannot. Renters with small children often find themselves in similar situations due to the fact that the buildings in Boston are so old and so few people have renovated to the standards necessary. This leaves this group with few options depending on what they are looking for and not something they are always pleased with.

Finally, yes the sad fact is that due to previous market conditions most private landlords don’t want to pay the broker’s fee, for the tenant. The market had previously been that people we’re willing to pay to get into that place they saw and loved, but that’s no longer the case. The apartments have gotten older in many cases and more are sitting empty; but few landlords are willing to break the psychological barrier of paying the brokers fee. This surely hurts some landlords as their properties sit vacant for months at a time and others are just dealing with it. There is no right or wrong decision on this one it’s all about what the market will decide and it’s something that both sides should be aware of.

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