313 Commonwealth Ave

313 Commonwealth Ave is the latest in a growing trend of taking single family brownstone homes in Back Bay and converting them in to luxury condos. The former single family home, has been converted into 3 luxury condos that are expected to be completed for move in this December. What makes this project more unique than some of the others in recent memory, is that each home is coming complete with all of the most requested features. Among a litany of other features, each residence will come with deeded parking and outdoor space. Few other projects in Back Bay offer both of these much requested features to every unit. The kitchens will feature Marble counters and state of the art stainless steel appliances, and each unit has at least 1 gas fire place with granite surround as well as direct elevator access.

The penthouse duplex looks to set itself apart from other units in the neighborhood by offering 3 private decks, including a nearly 500 sq. ft. roof deck. This, combined with the deeded parking is sure to make it an attractive home to potential buyers.

For more information on the building check it out here on on our Luxury Building page. If you would like a private tour of the homes please give us a call at 617-449-3642.

Luxury Condo sales up in an average market

Luxury condo sales in Back Bay Boston are on track to be ahead of last year. While the overall market is slightly down from last year, sales of condos costing 1 million or more are actually up slightly from last year. Sales between the first of the year and September 1st in the overall market are off 3% from last year during the same time period.  As we being the fall sales market it will be interesting to see if both numbers continue along their current paths or if we’ll see changes big changes in volume estimates.

Purchasing a home on a Freelance Salary

Mortgage requirements continue to tighten, but one thing remains constant; buying a home on a freelance salary continues to be more difficult than on a regular salary. The number of freelance workers is on the rise thanks to a tough job market. As a result mortgage companies are seeing a rise in this type of application. So what can you do  if your  a freelancer looking to qualify for a loan this fall?

First you can provide proof of a down payment. It doesn’t matter whether it’s a gift from a family member or account statement showing the money sitting in a 401k/savings account. The important thing is being able to prove in a verifiable way that you have the down payment ready and waiting.

Second you can prepare for a tougher review of your application. Gather your tax returns from the past 3 years. If your income had a big jump in the past year be prepared to answer questions on why. When you work on a freelance basis one of the most important things your application can show is that your income is on the rise. They want to see that you’ve had steady income bumps over consecutive years.

Third be prepared to seek out local banks. Local banks are often willing to go beyond what’s on application itself and look at the person applying for the loan. Local banks are the go to place when new developments need financing, because they are willing to look beyond typical lending restrictions.

Getting a loan on a freelance income isn’t impossible but it’s important to remember the three points above in order make the process easier. If you have more question on home loans or qualifications be please be sure to contact Pat Tobin at pwtobin@metlife.com .

Bachelor Pads Helping Bachelors?

Not sure how many people caught this article in the NY Post about Bachelor Pads helping Bachelors in New York seduce more than their fair share, but it’s an interesting article. The article does cite a celebrity as one its examples which subtracts a little from their argument, but it makes for interesting reading. The question is: Ladies of Boston have you ever been seduced by a view?  Fill out the poll below and we’ll release the results with a follow up post.

(*Fixing Polling Software)

Never Let Your Mortgage Broker Pick Your Attorney

Recently, I encountered a buyer who let their mortgage broker dictate who was going to be the attorney representing them in the purchase of their new home. I was blown away when the buyer told me that they had agreed to this. As a first time home buyer, it can be confusing process and many are likely to turn to friends and family to look for advice. This situation however, was where a trusted professional was giving bad advice. I’m here to tell you no matter what anyone says don’t let your mortgage broker dictate what attorney you decide to work with!

Mortgage brokers like attorney’s (relatively speaking) are a dime a dozen. There are more than enough of both to go around. This is why you want to pick them separately, you want the best of both! You want the mortgage broker who’s going to get you the best rate and be able to get the loan done when the time comes. For an attorney you want the best of the best because one small mistake can have huge implications later on down the road. If the job isn’t done right the first time it can be very costly to fix it later on. So please no matter what the mortgage broker says never let them dictate your attorney.

10 Tips for Composting in Boston

If you live in the city but would prefer to live a bit of a greener life style, we’ve put together a list of 10 tips for composting in the city. This certainly isn’t for everyone but if you do have some outdoor space it’s great way to live a more green.

10.Understand How It Works- Know the four basic requirements, air, water, carbon and nitrogen. The right amount of each is necessary for the process to be effective.

9.Select the Bin That Fits- Selecting the right bin is especially important for city composters. The right bin will keep warmth and moisture in and pets and rodents as well as other pests out. Keep in mind the amount of space you have available when selecting a bin.

8.Think Green and Brown- Nitrogen comes from your green kitchen and yard waste, and carbon comes from brown waste. You will need both for the compost. Nitrogen rich materials are green fresh  moist items like plants, garden trimmings, leaves and flowers. Eggshells tea bags and coffee grounds are great kitchen replacements. Carbon comes from dry garden materials, suitable kitchen items include shredded newspaper, bread and grains, nutshells, corncobs, and food soiled paper towels and napkins.

7.Cover It Up- As the nitrogen rich materials decompose you will notice an ammonium odor coming from the compost pile. To prevent odors be sure to mix carbon rich items thoroughly into the pile. Covering your green items with brown ones you alleviate the odors and keep pests away.

6.Make it Rodent Proof- We cannot stress this enough especially for those of you attempting this in the city. Check the bin you’ve selected weekly for holes or gaps  that might allow insects to get inside the bin and potentially into your home.

5.Keep It Damp- Dried out compost will eventually break down but it could take a while. Keep the pile most by wringing out a sponge over the top of the pile.

4.Let It Breathe- In order to do their work, micro-organisms need to breathe. Turn the compost pile often so that the mix will get the proper aeration it needs.

3.Speed Up the Process-If you start now and turn the pile every so often it will likely take a year or more for you to get the finished product. The best way to speed it up is to use small items, smaller pieces of material breakdown faster than bulky items. Turn the pile frequently also helps speed up the process. Following these tips you should have compost in 3 months.

2.Testing the finished Product-The time it takes for the finished product to come together varies on lots of factors. However, when it is finished the mixture should be dark and crumbly and in no way reflect the items that were put in. Items that were put in and still exist are likely to attract pests and are signs that your compost is not done. The best test is to take a ziplock bag and put a handful in. Seal the bag and open it a week later, if it still smells earthy your compost is done.

1.Use it Wisely- You have now spent the past 3 months or more working to create this mixture, so it’s important that you don’t waste it.

For more on all of these tips visit This Link.

Rumor Mill: Bradley Mansion Update

So if you saw our post about the Bradley Mansion you know what a great condo development it is, especially for those looking for a renovated home in Back Bay. It seems we weren’t alone in our assessment of the property. A full year before completion the development is already over 30% sold out. (45 Province do you hear that?) Is this yet another sign that the luxury housing market is steaming towards a recovery? I’ll let you be the judge but it’s definitely a good sign!

Rents On The Rise

Boston was recently said to be one of the top 25 US cities where rents were on the rise. Coming in at number 12 on the list, rents in the Boston area were up 7% in 2010 and are expected to rise another 6.2% this year. It might be hard to believe but despite these increases landlords throughout the city are reporting fewer turnovers than in years past. Many of the luxury buildings in town are reporting occupancy rates of 97% or better and even smaller individual landlords are reporting far fewer turnovers compared to years past.

Bradley Mansion Luxury Condos Back Bay

We wanted to be the first to introduce you to the Bradley Mansion Condos in Back Bay. These 12 stunning residences on Commonwealth Ave, are set to open in spring of 2012. Comprised of 3 townhouses and producing an astounding 86 feet of frontage on Commonwealth Ave, these wide Park Avenue style floorplans are sure to attract a lot of attention from buyers. Each unit will come with heated garage parking, concierge services, state of the art kitchen and bath finishes and incredible detailing that you don’t find in todays new construction homes. These fine luxury residences range in size from 2100 sq.ft. to over 4600 sq. ft. . Currently, prices range from $2.6 Million to $3.899 million. If you are interested in learning more about these spectacular luxury homes in Back Bay, you can call our office at 617-449-3642.

Massachusetts One of the Happiest, Healthiest States in America

A recent Gallup poll voted Massachusetts one of the top 10 happiest and healthiest states in America. The nationwide survey was done during the 2010 year and measured respondents overall satisfaction in categories such as life evaluation, emotional health, physical health, and other areas.

Factors that put us in the top 10 nationwide were:

58% of state residents eat produce frequently.

4.7% are uninsured

52% exercise frequently

and finally only 22% of residents are obese.

Click here to see the study