Boston Real Estate MA

Selling During a “Buyer’s Market”? There Is an Upside.

If you are selling your home or are considering selling your home, you’ve probably heard that this is not the best time to sell. BUT, it’s not the worst time to sell either. It all depends on your next step.

If you are selling your home to make a profit and then pocket that profit, then you’re right, this is not an ideal time for you to sell. If, however, you are looking to “buy-up” as you sell your current home, then you have the opportunity for a great investment. Look at it this way: if your current home is worth $500,000 but sells for 10% below the market price, then you “lose” $50,000. I know that sounds like a mistake, but what if you have your eye on a home that has a market value of $700,000. If that house also sells for 10% below the market value, you save $70,000, equaling a total savings of $20,000. Plus, you will have a lot of options when you are looking to buy-up in a market like this, so there is less chance of settling or getting into bidding wars, which can just make your life complicated.

If you currently live in one of Boston’s most popular, in-town neighborhoods, like Beacon Hill, Back Bay, North End, or South End, then this buyer’s market really does not affect you in the same way that it does most of the nation. There is always a demand for these prime locations and prices have been about the same over the past 2-3 years. So, if you are planning to move to another property located in Beacon Hill, Back Bay, North End, or South End, then everything stays even. If you are moving out of a prime neighborhood to the suburbs or to another state, then you could stand to make a significant profit.

The key when you are selling in a buyer’s market is to be aware of the small things that will pull-in buyers and allow them to see the best side of your property. Keep your house clean, make sure the landscaping is done (especially now that spring is here), and if you’ve already moved out, consider staging your home. Generally, homes with fashionable furniture sell better than empty homes. And even more importantly, you need to have a full-time professional real estate agent, one with experience, if you are selling during a buyer’s market, otherwise your home may end up priced incorrectly and stay on the market longer than it should.

Come back on May 15th to read a blog post that will address this question: Should buyers wait until the market hits bottom or buy now?

First-Time Homebuyers—The Time to Act is Now.

The real estate market—in Boston and throughout the nation—is a buyer’s market, but some buyers are finding it difficult to navigate the market: those who need to sell their current homes before purchasing a new one. On the other hand, this climate is giving first-time homebuyers an advantage in the Boston real estate market, which has traditionally been difficult to break into.
In the past, Boston’s real estate market has been extremely competitive, with buyers often getting into fierce bidding wars. This can not only be intimidating for first-time buyers, but it can also mean that they end up out of the bidding early because of a lack of starting capitol; whereas recent home sellers come to the table with the profit from their last home sale. Now, there is less competition for first-time homebuyers, along with more selection of affordable properties.

Perspective buyers that found Boston’s real estate prices just out of reach may now be able to afford the home they’ve always wanted. The median price of property in Boston has fallen 11% over the past two years. Plus, there are organizations out there like Massachusetts Affordable Housing Alliance that help first-time buyers with subsidized loans and sometimes with down payments.

With all these factors on the side of first-time homebuyers, the time to act is now—before the market takes an upturn. It may even be the time to think about investing in a multi-family home—making your home investment an income opportunity as well.

Tune in to next week’s blog, where I’ll discuss the upside for sellers in this “buyer-friendly” market.

2007 Year End Sales Summary, Citywide, Beacon Hill, Back Bay, South End

Citywide 2007 end year sales summary - Number of total sales in Boston in the fourth quarter dropped down from 1028 to 638. At the end of 2006 in this same time period the sales were 665. The highest fourth quarter sales we had experienced in at the end of 2004 in the amount 735. The highest number of sales in any quarter was the third quarter of 2004 totaling 1516. In the Back Bay the last quarter we had 107 sales, Beacon Hill 32 and South End 152. Average number of days on the market was 95 days in 2007 in Back Bay, average selling price $917,262, average price per square foot $733.83. Beacon Hill number of days on the market in 2007 88 days, average selling price $728,829 and price per square foot $750.83. South End avg DOM 92 days, average selling price $623,625, avg PSF $585,48. The highest demand in 2007 was for 2 bedroom condominiums totaling 1459 sales total, the least demand for studios in the amount of 196 sales a drop of almost 14% from the previous year. This statistic is based on citywide sales which include Back Bay, Beacon Hill, Charlestown, Fenway, Leather District, Midtown, North End, Seaport, South Boston, South End, waterfront and West End. We are experiencing the lowest inventory in the amount of 964 properties, versus 1731 at the end of second quarter in 2005.

For graphs and additional information see attached documents. For individual towns within Boston please send me an e-mail to miro@bostonrealestatema.com or call Miro at 617-254-1369 and I will provide you with reports on those specific neighborhoods.

Relocating to Brookline: You’ll Never Look Back

Whether you are moving to Brookline from another part of Boston or from further away, you’ll find exploring your new neighborhood exciting and rewarding. Brookline is a friendly area with a close-knit community that is only a short trip to downtown Boston. Beautiful neighborhoods comprised of houses, condos, and large estates are interspersed with quaint foot-traffic-friendly commerce areas. In Brookline you’ll find a mix of upscale boutiques, spas, and restaurants along with more rustic pubs and eclectic shops. The area attracts a variety of residents including young professionals, families, elderly, and students.Because of Brookline’s many housing options and different neighborhoods, it is essential that you have a reputable real estate agent—one who is experienced with the Brookline market in particular—on you side. Miro Fitkova of Re/Max Unlimited has years of experience working with homebuyers and sellers in this area. She can educate you about all the different districts in Brookline. So, whether you are looking for a more urban area, a farm-like estate, or a quaint suburban neighborhood, she can help you find the new home you’ve been dreaming of. Though Brookline is flanked on three sides by the city of Boston, Brookline remains an independent city. Brookline has long stood firm against the pull to join the larger city. As a result, Brookline has one of the most celebrated public school systems in the Boston area. Additionally, this sense of independence gives the residents an even stronger sense of community; many people who live in Brookline take part in district associations, which continually improve their districts and plan community events. You’ll find that Brookline residents have a genuine interest in their city, ensuring a strong community for years to come. One common concern when relocating to a large city is transportation. Owning a car and driving can be tricky in some parts of Boston. Brookline offers the best of both worlds: regular bus and train routes run through the city and driving and parking are much easier than in Brookline’s more urban counterparts. Though an easy commute into the city of Boston, Brookline really has all that you could want on a daily basis. There are many diverse restaurants and eateries including American, Asian, Indian, Russia, and many Kosher Delis and markets. Spas and fitness centers are prevalently scattered throughout the city, as are many fun shopping opportunities. One nice thing about shopping in Brookline is that you can find unique, small-town shops mixed in with larger brand-name stores. If you are thinking about moving to Brookline, choose a realtor that specializes in the area. Miro Fitkova of Re/Max Unlimited will be happy to educate you about different choices in the city and will help you find the best properties for your specific needs. To set up a meeting, contact Miro at (617) 254-1369.

Brookline Neighborhoods

Brookline is independent from Boston and is informally divided into different districts and neighborhoods. Each has its own unique charm and personality, which is why it is important to work with a real estate agent that is very familiar with all that Brookline has to offer.
Brookline Village
With all the charm of a traditional village—small businesses, quaint storefronts, people who know each other and chat on the sidewalks—Brookline Village boasts a string of stores and eateries that pride themselves on blending the modern and the traditional. You’ll also find the majority of the city’s public services in Brookline Village like the fire and police stations, the public library, Town Hall, and the courthouse. Residential neighborhoods that flank the Village include the Point and Pill Hill; you’ll find beautiful historic homes and Victorian-styles buildings there. Because of the proximity to Longwood Medical Center, many doctors and medical staff live in these neighborhoods.
Coolidge Corner
Coolidge Corner is Brookline’s busiest and most popular business district that also includes apartments, condos, and single and multi-family houses along its borders. The actual “corner” is where Harvard Street and Beacon Street cross, but the district is long enough to create a great walking area for locals and visitors alike. If you choose a property around Coolidge Corner, you’ll have walking access to the Coolidge Corner Playhouse, the movie theater, and a plethora of eateries, eclectic shops, and larger commercial shops like the Gap and McDonalds.
JFK Crossing is a subsection of Coolidge Corner, which is near the house where John F. Kennedy was born. This area has long been known for its thriving Jewish population; however, in recent years it has become even more diverse due to an influx of Russian and Asian immigrants. Many specialty shops can be found in JFK Crossing such as Jewish bookstores, kosher restaurants and markets, and some of the best bagel shops in the Boston area.
Washington Square
Washington Square feels like a bustling little town of its own. You can find anything you need here including restaurants, ethnic markets, dry cleaners, and small shops. Its train stop (or T-stop) is marked by a unique four-sided clock at the intersection of Beacon Street and Washington Street. Nearby neighborhoods are filled with large single-family homes and luxury condo developments.
Longwood
Longwood has a plethora of historic brownstones that are protected by the local Historic Preservation Commission. In addition, you’ll find beautiful single-family homes and condos in this area. With Harvard Medical sites near by, this is a thriving area that is also popular for doctors and academics. Longwood Mall, the largest collection of protected antique Beech trees in the nation, ensures that there will always be greenery in this area.
Cottage Farm
If you are looking for a large single-family home in a historical district, consider looking in the Cottage Farm neighborhood. Surrounded by Halls Pond Bird Sanctuary and Boston University, this area is considered a little oasis for its residents. Cottage Hill offers peaceful living with easy access to all of Brookline and downtown Boston.
Chestnut Hill
Chestnut Hill is a large area that spreads from Brookline to Newton. It is home to some of the oldest and most stunning houses in Brookline. Additionally, a variety of Victorian and Colonial-style homes can be found in Chestnut Hill. Between residential areas are two shopping malls and two strip malls. Everything you need is in this very popular area of Brookline.
To view homes in any of theses Brookline neighborhoods or to learn more about the districts, contact Miro Fitkova of Re/Max Unlimited at (617) 254-1369.

Brookline Schools: A Celebrated School System

Brookline has long had one of the strongest school systems in the Boston area. Because Brookline remains an independent city from Boston, it has an autonomous school system. It is one of the few in the state that does not have middle schools. Instead, students attend kindergarten through eighth grade at one school and then move to a high school for their last four years. If you are looking to relocate to the Boston area and you have children or are planning on having children, you should seriously consider looking at properties in Brookline. To schedule a meeting to discuss your real estate needs and to view available properties, contact Miro Fitkova of Re/Max Unlimited at (617) 254-1369.

Brookline High School

Brookline High School serves the entire city of Brookline. Eight elementary schools feed into this reputable institution. With slightly under 1,900 students, the school boasts students from all races, cultures, economic backgrounds, and from 76 countries. The Advanced Placement program is quite extensive, giving upperclassmen the chance to get ahead with college courses; plus, the average SAT I score in 2005 was 1218 for Brookline High students whereas the national average was 1028.

Edward Devotion School

This famous school that John F. Kennedy attended serves the Coolidge Corner neighborhood. As the largest elementary school in Brookline, it is the home to many international students whose parents are studying at nearby hospitals and universities. The active PTO organizes several annual events including the School Fair, the Harvest Auction, Cabaret Night, and a series of family events. Special programs that the Devotion School offers include the Hebrew English Language Learner program and the Emotional, Social, and Behavioral Special Education program.

Michael Driscoll School

The Michael Driscoll Elementary school serves the Washington Square neighborhood and is the only school to offer a Mandarin Chinese program. All students K-6th grade study Chinese and then 7th and 8th graders may elect to continue studying the language. The school celebrates both diversity and the arts through programs throughout the year, which include celebrations of Martin Luther King, Jr., the Chinese New Year, art festivals and a writing festival that includes visiting authors.

Heath School

This elementary school that serves the Chestnut Hill neighborhood has a focus on student-teacher collaboration and on volunteerism. They have an ongoing relationship with the Ronald McDonald House, which 6-8th graders participate in. Additionally, all grades participate in volunteer projects throughout the year. To foster student-teacher collaboration, the younger grades take part in a weekly Heath Family Meeting.

Edith C. Baker Elementary School

Baker School serves the South Brookline area. With over one-third of the student population speaking English as a second language in the home, Baker is considered an “international” school. It is known for its outstanding Korean English Learning Program as well as its Cognitively Impaired Special Education program. The Baker school was fully renovated in 2000; two wings with more classrooms, a new library, and a new cafeteria were added. Each year, the graduating eighth grade class takes a trip to Washington D.C.

Amos A. Lawrence School

Serving the Longwood area, this elementary school strives to create lifelong learners who can make educated choices. The PTO is active throughout the year planning various activities to encourage parent participation in school programs. Additionally, the newly renovated school offers a Japanese English Language Learner program and a Neurobiologic Special Education program for the entire Brookline school system.

William Lincoln School

The William Lincoln School, which serves the Pill Hill and Point neighborhoods, strives to provide a rich after-school enrichment experience for its students in addition to a rigorous academic program. In addition to homework centers, students can participate in chess club, student government, Scrabble club, the school newspaper, science club, the Thaler Program: a student work program, Model U.N., Continental Math League, and the National Geography Bee. The PTO plans a variety of activities for families including courses for parents.

Pierce School

Founded in 1855, the Pierce School is one of the oldest schools in Brookline. It serves the Brookline Village neighborhood and has an open classroom philosophy, which is guided by the highly collaborative staff. Each year the school puts on two different musical theater productions.

John D. Runkle School

John D. Runkle School serves the Fisher Hill neighborhood. Founded in 1897 by John D. Runkle, who was a founder and the second president of MIT, the school has a long history of academic excellence. The school serves the district’s PDD/ Autism Spectrum student population and has a program in place for Spanish English learners. The active PTO plans many fun events throughout the year and also raises money for scholarships.

Transportation in Brookline

Transportation: An Array of Options in Brookline

Driving is much easier in Brookline than in the more urban parts of downtown Boston since Brookline has a nice mix of bustling commercial and quieter residential areas. In most commercial areas, the city of Brookline has built city parking lots that are metered—just keep an eye out for signs. Usually city parking lots are just behind the main strip of storefronts. If you have a car and you are relocating to Brookline, you should keep in mind that street parking is not allowed in many places in the city. Find out if this is the case in the area you are looking. If it is, you can usually rent a parking spot for $100-200 per month. Or you can look for a condo with a parking lot or for a house with a driveway.

While many residents have cars, MBTA, Massachusetts Bay Transportation Authority, covers all of Brookline and transports residents all around the Boston area. Boston’s “T” or subway system has five lines designated by color. The Green line services Brookline. The Green line branches into four lines once it emerges from the center of Boston, B, C, D, and E lines. The C and D Green lines have multiple stops throughout Brookline including Coolidge Corner, Washington Square, Brookline Village, Chestnut Hill, and many in others.

In Addition to the MBTA’s subway system, buses service Brookline residents throughout the entire city. Popular bus lines include Routes 60, 65, 66, and 986. To see bus and subway routes throughout Brookline and the Boston area visit MBTA’s website at www.mbta.com. They make living in Brookline without a car easy with their online tools. You’ll find a navigation tool similar to Map Quest, except instead of driving directions, the site will give you detailed bus, train, and walking directions to anywhere in the city. Additionally, you can have updates about your regular routes sent to your mobile device—so you know beforehand if there are any delays. You can even buy monthly passes online.

Even if you have a car, you may want to take the T into Boston—especially if you work downtown or in the Financial District and do not have designated parking for your company. Many companies offer employees free or reduced passes to commute into the city. If you are going into Boston for a sporting event or a night out, taking the T is an economical way to go because parking can be expensive and difficult to find.

Brookline truly is an oasis in the city. You have access to all the luxuries of downtown, yet Brookline has a smaller community feel and access to anything you would need on a daily basis. To schedule a meeting to discuss your real estate needs or to look at available properties in Brookline, contact Miro Fitkova of Re/Max Unlimited at (617) 254-1369.

Brookline Links

Brookline Links

Boston Neighborhoods

Boston’s old-world charm can be seen throughout the city; however, each neighborhood has its own unique characteristics and charm. Whether you are looking for an upscale condo, a traditional brownstone, or a trendy loft, <a href=”http://www.bostonrealestatema.com/”>Boston real estate</a> has something for you. Take a look at what each neighborhood has to offer and then take a drive or walk thorough the area to see if it is a good match for your specific needs. Boston’s real estate market can be quite competitive, so having a reputable real estate agent on your side is essential when looking for the perfect place to call home.
Back Bay

Back Bay real estate places you right in the middle of everything. This prestigious area of Boston sits amidst Newbury Street—the Rodeo Drive of New England, the Copley Mall, the Prudential Center, and many trendy restaurants and clubs. When walking through the Back Bay, you will never tire of the stunning view of the Boston Public Library, the Boston Common, and the Trinity Church in Copley Square. If you want the epitome of Boston living, the Back Bay may be just what you’re looking for.
Beacon Hill

Though one of the smallest neighborhoods in Boston, this charming area boasts some of the most coveted real estate in the city. Because Beacon Hill is located in the city yet maintains a neighborhood feel, this is an extremely popular area for families and professionals who want to be a part of a close-knit community. Property on the Hill is usually constructed in the classic Boston architecture style and has plenty of green space between the buildings. Proximity to Massachusetts General Hospital and the State House make this area home to many local lawmakers and medical professionals.
South End

The South End is one of Boston’s trendiest neighborhoods. With Victorian-style row homes that have been converted into condos as well as new developments, this area is popular with young professionals and families and has the most thriving gay and lesbian community in the city. As the city’s first planned neighborhood, this area has all the amenities of city living but also feels less urban because of its quaint buildings and abundant greenery. There is plenty to do in the South End such as visit one of the famous jazz bars, browse in chic art galleries, or relax in one of the numerous cafés.
Downtown Boston

Living right in the center of downtown Boston is ideal for professionals who work Downtown or in the Financial District. During the weekday, Downtown is bustling with workers on their lunch and coffee breaks. On the weekend, you can take a stroll through the Boston Common, visit the neighboring theater district, or local bars and chic restaurants. Downtown is right in the middle of it all—the city is your playground.
Kenmore Square

The famous Fenway Park, where the Boston Red Sox play, can be found in the center of Kenmore square. Real estate in this area is popular for professionals, students, academics, and medical staff due to its proximity to several local colleges and medical facilities such as Boston University, Northeastern University, Simons College, and Emmanuel College as well as Longwood Medical Center and Beth Israel Medical Center. The Kenmore Square area draws a lively night crowd, as it is only steps from Lansdowne Street. This street is home to some of Boston’s most popular dance clubs and bars.
North End

The North End is the Little Italy of Boston. Though over half of its residents are non-Italian professionals and families, Italian roots still run deep in this neighborhood. Along the old-world European-style streets you’ll find outdoor fruit stands, corner markets, family-owned businesses, and unparalleled Italian restaurants. Every summer weekend, traditional festivals are held in the streets. Recent road construction has made it more accessible to Downtown and the Financial District. This, along with the fact that the North End has one of the lowest crime rates in the city, makes it a popular area for real estate buyers.
Allston-Brighton

This trendy neighborhood has the best of both worlds. It is only minutes from downtown Boston, but Allston also has its own micro-community full of trendy and eclectic bars, eateries, and shops. Additionally, Brighton, which merges with Allston, offers many neighborhood-living options. You’ll find condos, houses, and small apartment buildings along the streets of both Allston and Brighton.
Cambridge

Cambridge is a popular area for tourists and locals alike. This bustling area is home to two of the nation’s most prestigious colleges, Harvard and MIT, and one-third of all Massachusetts’s biomedical firms. However, the area is not limited to academics; Cambridge has a diverse mix of entrepreneurs, students, musicians, immigrants, and professionals. No matter what type of architectural style you are looking for, Cambridge’s varied streets will have it.
Newton

Newton is a large area bordering the city of Boston, which is comprised of thirteen “villages”. As a mix of small commercial areas and large residential neighborhoods, this is a great area for families and for professionals who want to live near the city but avoid the urban hustle and bustle. Everything you need on a regular basis is in Newton itself including fun restaurants, shopping, and entertainment. However, anytime you’d like a night out downtown or in the Back Bay—you are only a short drive away.
Brookline

This residential neighborhood has a wonderful mix of families, professionals, students, and elderly. Though largely residential, quaint commercial districts are scattered throughout the area; these include upscale shops and spas as well as more eclectic shops and rustic pubs. With a celebrated public school system, easy access into downtown Boston, and a bit of history—John F. Kennedy’s birth house in is Brookline, the neighborhood’s real estate is always in high demand.
South Boston

Often referred to as “Southie”, South Boston sits alongside miles of beaches and is only fifteen minutes from the Financial District. Recent redevelopments have made the real estate in South Boston boom over the past five years. The neighborhood is known for its triple-decker row houses but also has many new luxury condo developments popping up throughout the area. Irish pubs are prevalent in the neighborhood; plus, South Boston residents have prime access to the famous Saint Patrick’s Day parade.

Transportation—From the Back Bay to the South End to the Suburbs and Beyond

If you purchase a Boston property, then you have many options when it comes to transportation. Boston is known as the Walking City due to its extremely pedestrian friendly atmosphere—cars stop at crosswalks, sidewalks are maintained and abundant, and activities are located close in proximity. Many Bostonians who live in areas like the Back Bay, the South End, Beacon Hill or other central areas choose to not own a car, as walkers can supplement their routes with the subway and bus systems. In addition to the public transportation system, Boston also has an intricate road system, much of which has been shifted to underground tunnels—an initiative called the Big Dig—to beautify the city and make it even more pedestrian friendly.

Boston is home to the nation’s first subway system, fondly referred to as the “T” by residents. The “T” has five lines designated by color, which cover the actual city of Boston and reach into a few of the suburbs. In addition, the transportation authority (MBTA) has a network of local busses throughout both the city and the outlying areas and has ferries and commuter rail options. For those who live in Boston real estate, a Charlie Card is probably the best option—one affordable monthly fee grants commuters access to several different types of transportation. Check out online purchasing options at www. MBTA.com.

For those who own cars, the city accommodates residents with its Resident Parking Permit program, allowing Boston property owners and renters with proper signage to park along the streets in their own neighborhood. In some parts of Boston, on-street parking is extremely limited or street parking is not allowed during certain times. In these areas, many residents purchase or rent parking spots. This is one reason it is essential to have an experienced real estate agent on your side when looking for the perfect Boston property. A good real estate agent will be able to explain the ins and outs of parking and public transportation for various Boston listings. Whether you are looking for a Boston townhouse, condo or house, Boston’s transportation network makes commuting to and from work and play easy.