Dec 2009 10

sale0906Special thanks to @RealEstateCafe for the new tip.  A recent article in the Boston Business Journal discussed a report conducted by online real estate service Trulia Inc that ranked Boston 3rd home-price discounts.  As I am writing this article the WBZ news is on and reporting the story as well.

My take, it’s no surprise or shock that home pricing has been slashed.  One thing I would like to see and will be looking in to for a follow up post is the break down by Boston neighborhood.  It is important to note that while pricing has decreased Back Bay has held strong, again no surprise.

While it may be possible to get 14% off a home in a certain area, that type of discount is not likely in Back Bay.  That being said there is NO WAY I would advise a client pay asking price. In these times there’s always room for negotiation.  2006 and the era of buying at asking or more than asking is long gone.

Buyers if you are looking for representation and someone to get you a great investment, contact me.

From the Boston Business Journal, “Boston ranks third in the nation in home-price discounts, as reductions were recorded by some 35 percent of all listings on the market as of Dec. 1, according to a report by online real estate services firm Trulia Inc.

The city’s average price discount among current listings is 8 percent; the group’s asking prices have been reduced by a total of roughly $37.7 million.

Nationally, 22 percent of homes currently on the market have had prices reduced at an average discount of 12 percent. The top city, in terms of the percentage of homes that have been discounted, was Minneapolis at 40 percent.

Trulia said prices for luxury homes listed above $2 million have been slashed by an average of 14 percent, compared with 10 percent of homes priced at less than $2 million.

Luxury homes make up only 2 percent of the home listings tracked by Trulia, however they account for 26 percent of the $24.7 billion in price reductions recorded among its current listings, the company said.” (Boston Business Journal)

Nov 2009 28

the-penmark-south-end

Attention all buyers The Penmark has dropped its pricing on the 11 remaining units.  With up to $100,000 in savings…That’s $100,000 off the last asking price!  Ten 2 bedroom  a 1 bedroom with study remain out of the original 60-units.

Condos at the Penmark feature granite counter tops, SubZero and Bosch appliances, bamboo floors, floor to ceiling arched windows, gas cooking and a deeded garage parking spot per unit.  Formerly BC High School this gorgeous loft building is full of character and charm.

If you are looking for a great deal in the south end then The Penmark is worth checking out.  To schedule a showing just give me a call or email me.  I look forward to introducing you to The Penmark.

n1100596236_30105776_3504 JEANINE HELLER

Tel: 508.930.6232

Email: jheller@warrenre.com


Nov 2009 27

imageBlack Friday, ah yes the infamous day where shoppers line up at the crack of dawn to get that must have item on sale.
To honor of this price dropping “holiday” here’s a look at 2 properties holding their own Black Friday. Let the prices drop.  Please contact me if you are interested in either property at jheller@warrenre.com

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346 Beacon Street (2 Bed / 3.5 Bath) — WAS $2,350,000 — NOW $2,150,000

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335 W 2nd Street (2 Bed / 2 Bath) — WAS $475,000 — NOW $464,000

Nov 2009 19

f654158f38_Schil_11192009

Buyers balked at the price, so Curt Schilling is changing his pitch again in an effort to sell his Medfield mansion.

No. 38 has reduced the price of his 26-acre Medfield estate to $4.5 million, the same price the former Red Sox pitcher and his wife Shonda paid Drew Bledsoe for the 20-room Colonial in 2004.

The 11,000-square-foot gated home, which includes a home theater, heated swimming pool, an all-sports court and a professional batting cage, was originally listed last year for $8 million. That price was dropped to $5 million in March.

“At $8 million, it was priced way too high to begin with,” said Scott Colwell, a developer who is selling a new four-bedroom home in the Woodcliff Hills section of Medfield for $1.4 million. “They lowered the price to 2004 levels, which is more realistic in today’s market.” (Source: Boston Herald)

Want more info?  Email jheller@warrenre.com

Nov 2009 19

Alert, price drop at the Belvidere.  Unit 7H just dropped from $2,500,000 to $2,145,000.  This 2 bed 2.5 bath is located on a high front facing floor with phenomenal water views of the Reflective Pool and the Christian Science Complex, ample sun light all day, storage room, world class amenities, 24 hour concierge, Valet/self parking option, spacious and lavish Common Library on the 2nd floor w/ complimentary daily continental breakfast and newspapers, fabulous common roof deck.

Interested parties please contact Jeanine Heller at 508.930.6232 or email me at jheller@warrenre.com

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n1100596236_30105776_3504 JEANINE HELLER

Tel: 508.930.6232

Email: jheller@warrenre.com


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