The Boston Condo Blog

2007 vs. 2008 YTD Average and Median Prices in Back Bay

Nicholas Warren — Wed, 14 May 2008 02:20:05 +0000

With all this talk about how terrible the market is and how much worse it is going to get, I decided to do a quick search on MLS to find out how 2008 has compared to 2007 YTD in one of Boston’s most well-known neighborhoods, Back Bay. Here’s what I found:

2007 - 1/1/07 to 5/13/07:

Median Price - $636,250

Average Price - $906,505

Total Market Volume - $132,349,750

2008 - 1/1/08 to 5/13/08:

Median Price - $660,000

Average Price - $1,161,522

Total Market Volume - $126,605,952

Very interesting….average selling price is up 28% and median is up close to 4%. The total market volume has slowed a bit. What are your thoughts?

Walking Tour of Downtown Crossing Homes - May 10th 11am-5pm

Nicholas Warren — Sat, 03 May 2008 18:32:01 +0000

A client of mine who works for the Boston Redevelopment Authority (Hi Sherry!) was kind enough to pass along a flier regarding a walking tour of Downtown Crossing homes. The point of the tour is to give you an idea of what the Downtown Crossing neighborhood is and what it will be in the future. You will have the chance to:

- VIEW a 15th floor 1970s flat
- VIEW a 100-year old former headquarters for a sheet music publisher
-VIEW an elegantly appointed high-rise full-service executive suite
-VIEW a contemporary bi-level penthouse
-VIEW a luxury condo with first-class hotel services
-VIEW a “will be” condo in a 32-story tower
-VIEW a high-rise rental with sweeping views
-VIEW a walk-up loft in a cool old building

There are a lot of great things going on in this neighborhood with millions of dollars being invested in projects like 45 Province and the old Filene’s Building which will feature luxury condos, a hotel, and new high-end retail.

I am really happy they are doing this as it gives people a chance to see what life is like in this neighborhood and maybe even get a chance to picture themselves living here.

For more information or for tickets, please call the Downtown Crossing Association at 617-482-1641 or visit downtowncrossing.org/homesweethome

1330 Boylston Luxury Apartments in Fenway now leasing for August 1st - NO FEE too!

Nicholas Warren — Wed, 30 Apr 2008 15:08:09 +0000

Samuels and Associates, the local developers/movie producers who are behind the great success of The Trilogy, another luxury apartment building in the Fenway, have just released availability and pricing for their new luxury apartment high rise called the 1330 Boylston! This amazing new construction building will be home to luxury apartments which will feature:

Granite Counters
Stainless Steel Appliances
In-unit Washer/Dryer
Hardwood Floors
Skyline views from some units
Walk-in Closets
Concierge
Rooftop Deck
Club Room
Private Balconies from some units
PET FRIENDLY!!

Pricing starts at:

1 Bed/ 1 Bath from $2574
1 Bed/ 1 Bath/ Study from $2595
1 Bed/ 1.5 Bath from $2750
1 Bed/ 1.5 Bath/ Study from $2800
2 Bed/ 1.5 Bath from $3300
2 Bed/ 2 Bath from $3550
2 Bed/ 2 Bath/ Study from $3620
3 Bed/ 3 Bath from $7500

To setup a showing call or email a Warren Residential Group rental agent today at 617-848-9616 ext. 2 or rentals@warrenre.com to setup a no obligation showing today. And again, there is no broker’s fee!

Is the condo or home your looking to buy “Green”? If so, lower rates might be in your future!

Nicholas Warren — Wed, 23 Apr 2008 17:18:51 +0000

New legislation put forth by U.S. Rep. Ed Perlmutter could result in lower-interest loans for people who purchase “Green” or energy-efficient homes or people who retrofit existing residences with ”green” features.

Seems like a great idea right? It still needs some working out though. Some home builders argue that it would result in increased construction costs and Fannie May is worried that it would be required to have certain percentages of “green” mortgage by benchmark dates.

I think this is new legislation could definitely be a step in the right direction. Green building should be a high priority but we need to find a way to make it affordable. I have to really give a hand to the Pappas family who developed the Macallen building in South Boston, it’s first green building. Even with construction costs being significantly higher to build this way, they felt it important to be pioneering.

What are your thoughts?

Source: Realtor.com

Bigger isn’t always better - Smaller Floorplans in Large Demand

Nicholas Warren — Tue, 15 Apr 2008 23:19:31 +0000

Since last years collapse of the sub-prime market, luxury builders have been getting requests for smaller floorplans. People are trending away from large great rooms and moving towards more specialized rooms such as media centers and home offices says a spokesman for luxury specialist Pulte Homes.

Even furniture makers are following the trend and its paying dividends. “Apartment sized” furniture has been estimated to increased demand by 30% since last year.

I believe this can only help the condo market. Many people are looking for a somewhat maintanence free livestyle and the smaller living spaces of condos provide that. Plus, many of the full-service luxury buildings such as the Ritz Carlton, One Charles, The Clarendon Back Bay, and the Waterworks all have common areas which many residents use as extensions of their homes.

The Clarendon Back Bay Luxury Condos and Apartments hit the market on MLS

Nicholas Warren — Tue, 15 Apr 2008 03:25:36 +0000

One of the most exciting projects in recent memory has officially hit the market with listings on Boston’s MLS. The Clarendon Back Bay is a luxury high rise in Boston’s Back at the corner of Clarendon and Stuart St. near the John Hancock tower. This building will feature both luxury condos for sale and apartments for rent. The homes will feature expansive windows with views of the Charles River, South End, Back Bay and Boston Skyline. The finishes will be second to none as well. Check out the Warren Residential Group website’s luxury building page and click on The Clarendon Back Bay for more pictures and current listings!

Feel free to browse some of the other buildings like the Ritz Carlton, Heritage on the Garden, Zero Marlborough, 360 Newbury, and more while you are there!

Beautiful 2 Bedroom/2 Bathroom Luxury Apartment at the Folio available for rent starting June 1st

Nicholas Warren — Wed, 09 Apr 2008 23:23:58 +0000

We are proud to announce a new rental listing at The Folio in Boston’s Financial District. This beautiful luxury apartment has all the amenities one could ask for. The building features an design award winning lobby with a welcoming 24/7 concierge who is there to help with things such as packages, dry cleaning, reservations, and guests. From there you take the high speed elevators up to the 7th floor and head to the corner apartment.

Upon walking in you immediately notice an open kitchen layout which features absolute black granite, stainless steel appliances, gas cooking, and tons of cabinet space; perfect for the at-home-chef! Off of the kitchen you find a laundry closet with a full-size stackable washer/dryer. The living space is well laid out with large windows bringing in lots of natural sunlight. The entire unit is wired for cable and high speed internet as well.

The first bedroom has a large closet and large windows and would make a perfect guest bedroom or home office. There is also a full bathroom in the hallway leading to the master suite. Once inside the master suite you find a beautiful 5-piece master bathroom featuring a glass standup shower, soaking tub, and double vanity! The master bedroom has a wonderfully deep closet and beautiful corner exposure.

The Facts:

2 Bedrooms
2 Full Bathrooms
1220 square feet
Washer/Dryer in Unit
Concierge
Available June 1st
Valet Parking Space INCLUDED!
Asking $4000/month

Call a Warren Residential Group agent today for more information at 617-848-9616 ext. 2 or email us at rentals@warrenre.com!

Demand for Mortgages Rises Despite Rates

Nicholas Warren — Wed, 09 Apr 2008 23:02:10 +0000

According to the Mortgage Banker’s Association the number of mortgage applications increased 5.7% last week on a seasonally adjusted basis. On an unadjusted basis the index rose 10.9% compared with the same week last year.

What you might be thinking is that people are just refinancing much more often due to the fear that rates may rise but that is not the case. The bulk of these loans were purchase loans which rose 8.1% compared to the refinance index which was up only 3.4%.

Mortgage rates were up slightly:

30-year fixed-rate mortgage increased to 5.78 percent
15-year fixed-rate mortgages increased to 5.39%
1-year ARMs increased to 7.06 percent

The Boston Waterfront - Quiet Neighborhood within the City

Nicholas Warren — Tue, 01 Apr 2008 02:20:59 +0000

Today I showed a beautiful luxury triplex condo at the wonderful Burrough’s Wharf on the Waterfront. While the building was great and the $2.75mm condo was stunning, what really amazed me was the peacefulness of the Boston Waterfront. Only a few blocks away from the hustle and bustle of the Financial District and North Station, the Waterfront is in a world of its own.

Once you cross Atlantic Ave. or Commercial St. and walk out onto Burrough’s Wharf, Battery Wharf, Union Wharf, or Commericial Wharf, you really get a feeling like you could just sit out on the waters edge and enjoy a cup of coffee and a sunrise.

I’d highly recommend this neighborhood even if you are not sure it is for you. Some people will say it is to far out of the way, but in reality you can be in the heart of Boston after only a 15 minute walk. Give it a try. Call us for a tour of some of the nicest properties in Boston. No matter what your price range, there can be a home for you on the Waterfront!

Beautiful Luxury 1 Bedroom Condo at the Ritz Carlton Boston for Sale

Nicholas Warren — Wed, 12 Mar 2008 02:59:05 +0000

Not all condos at the Ritz Carlton towers in Boston are in the million dollar or more category. There is a new 1 bedroom listing priced at $735,000. It is located high up on the 17th floor and has amazing views. You get over 750 square feet of living space and 1 valet garage parking space.

Think that is a good idea? Then check out this 1 bedroom with 725 sq. ft. at the One Charles listed for $649,900. Although it does not come with a parking space or the stunning views that the Ritz Carlton 1 bedroom has, this is still a good value for a condo in a luxury building.