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Boston Luxury Condominiums

Winning Strategies to sell Your Property This Spring!

The greater Boston real estate market logs in the largest number of sales closings in the Spring (2nd) Quarter virtually every year.  The cold weather and snow give way to blooming flowers, warmer weather...and eager buyers!  

                                                                                                                                                                       Some want to enjoy the Summer in their new digs, others want to have their children in place for the next school year while others strategize to maximize their tax write-offs for the calendar year.  Many just want   to get their home purchase project done and over with!

If you want your property sold during the 2017 Spring market you need to get started.   Spruce up your property, assemble all the pertinent documents, hire a real estate broker and put your property on the market ASAP.  

The following topics are some of the most crucial elements that you should attend to before that first showing appointment of your single family home, townhouse, condominium or cooperative.  

Curb Appeal

As the buyer walks up to your property, their first impression often becomes their most lasting one.  Make sure that their first view is as appealing as possible.  It may determine whether the buyer will:     1) go through with viewing the property 2) make an offer...or not 3) be willing to pay you a strong price.

I'm talking about things like cleaning the litter and leaves out of the front garden of your building or making sure the entry foyer to your condo building is spotless.  Not only does this first look enhance or detract from the buyers initial emotional attachment to your property, it says a lot about how well the property has been maintained.  In the case of a condo or coop building, it signals how willing your fellow owners may be to chip in on future repairs and general upkeep of the common areas; elements that directly affect the future value of your unit.

Let's Go Inside 

Inside your property, there are numerous inexpensive ways you can make it show better. Clean your windows.  Place a few vases of fresh flowers in the main rooms.  Increase the wattage of your light bulbs so the property appears bright and cheery.  Clean the fingerprints off your front door, kitchen appliances and the bathroom mirrors.  Clean out and/or reorganize your closets; a lot of buyers are coming out of large suburban houses where they are used to having a lot of closet storage.  Most buyers are very critical when it comes to the kitchen and bathrooms.  Be sure every surface is uncluttered and spotless.  Store the extra kitchen appliances and put all the personal items in the bathroom away.  Limit the number of personal photos on display; you want the buyer to focus on your property and not who owns it.  And if you have some rainy-day money stashed away, freshen the paint with neutral colors and refinish your hardwood floors!

Repair those little problems that don't really bother you but that all buyers seem to notice.  Put new washers in that kitchen faucet that just started dripping.  Seal and repaint that water stain from the leaky toilet upstairs that you had fixed last Fall.  Touch up that chipped paint on the frame around your front door. 

Assemble the documents and information you'll need to give to your real estate Broker.  

Prior to going to market with your property, an experienced agent will ask you many questions about your property, from a dated list of your improvements to the age and condition of the roof. Arm your broker with all the information you can.  This way you'll shorten up the buyer's discovery period and get them to the offer stage quickly while their excitement level is still high!  

In the case of a condominium, put together a package including a copy of recorded condominium documents such as the Master Deed, Declaration of Trust & Rules and Regulations.  Assemble the last two years of financial statements, association meeting minutes and the current budget.  Make sure you know whether there are any upcoming assessments for capital improvements and/or whether your condo fee, coop fee or any other fees attached to your property will be going up within the next twelve month period.  Find the floor plans for your property; buyers really appreciate seeing these in the brochure and it helps them to better remember your property at the end of a long day of viewing properties.  Give your broker copies of your utility bills (gas, electric, etc) for the last twelve months and a copy of your latest real estate tax bill. 

Many of your neighbors have relied on Marsh Properties Brokers over the last 32 years to manage their real estate needs.  Call us today for a confidential discussion on how to best prepare your property for sale.    

Sincerely,

Marsh Properties Owner/Brokers:


Tim Marsh               (C) 617-548-7145  tim@bostonluxuryrealestate.com

Cheryl Marsh           (C) 617-797-5781  cheryl@bostonluxuryrealestate.com

 

Seaport Square - the Cultural Corridor

Seaport Square ‘cultural corridor’ a response to needs of Boston’s artists, developer says

Replaces plans for larger theater

BY TOM ACITELLI  FEB 17, 2017, 11:00AM EST

 

WS Development

Apparent demand for smaller cultural spaces in Boston drove the decision to do away with a proposed 200,000-square-foot performing arts center in the last major bit of Seaport Square under development, according to developer WS Development and members of the city’s arts community.

The scrapping of the larger theater center at Seaport Square in Boston’s Seaport was part of a slew of changes that WS Development recently proposed. In the larger venue’s place will be what the developer describes as a “cultural corridor,” per Tim Logan and Malcolm Gay in the Globe.

That corridor is due to feature much smaller venues—which some in the Boston arts community say are more in demand than mammoth locations (just look at the recent acrobatics executed to preserve Boston’s Colonial Theatre).

Still, the change has rankled some who see the corridor in place of the center as a bait-and-switch—just a way to get the necessary nods to commence development.

However! It appears that the original 2010 Seaport Square master plan included caveats: re: a performing arts center, including its dependency on “local demand and funding.”

For now, WS Development is gathering feedback from the arts community about what the venues along the cultural corridor should look like, including how big they should be. That could take a year. And the full build out of Seaport Square could (and will probably) take into the next decade.

Beige Book Boston Real Estate 1st Report of 2017

Boston - First District

Federal Reserve Bank of Boston

Residential Real Estate
Continuing recent trends, residential real estate markets in the First District showed robust increases in sales and prices relative to last year. Closed sales for single-family homes and condos increased in all six First District states as well as in the Boston metro area (five of the six First District states and Boston reported changes from November 2015 to November 2016; Maine reported on October 2015 to October 2016). Massachusetts recorded the most closed sales on record for the month of November. As usual, many contacts cited falling inventories as an issue: inventories decreased year-over-year in every reporting region. A contact in Massachusetts reported that "with such little inventory, buyers needed to be quick with their best offers from the start."

Home prices also rose year-over-year. For single-family homes, the median sales price increased in every reporting region. The same was true for condos, except in Vermont where prices decreased slightly.

Overall, contacts were optimistic about the outlook for the end of the year and into 2017. Many said rising interest rates would stimulate buyers to make offers at the end of 2016, but they did not expect further moderate increases in interest rates to restrain the region's consistently strong buyer demand.

Commercial Real Estate
Conditions in commercial real estate markets across the First District were stable in recent weeks. Office leasing activity was steady or modestly slower in the region's major metro areas. Investment sales activity and sales prices for prime commercial properties in Boston were also stable, as foreign investors were undeterred by higher interest rates and a stronger dollar. One contact estimated that office rents in greater Boston increased 10 percent on average in 2016. Apartment construction activity slowed in recent months in both Boston and Portland, while office construction was stable at a slow pace in Boston and minimal in the rest of the region.

The outlook among contacts was cautiously optimistic, with significant uncertainty related to domestic politics. Contacts across the District expected capitalization rates to increase in 2017 to keep pace with rising interest rates, noting that such increases imply that rents will have to increase and/or valuations will have to decrease. On balance, contacts anticipated that property values will remain flat in 2017. Apartment construction activity was expected to slow further in coming months as borrowing costs continue to rise and lending terms continue to tighten, but prospects for new office construction appeared brighter for 2017 in light of rising office rents and low office vacancy rates around the region.

Summary of Economic Activity
Business activity continued to expand in the First District at the close of 2016. Both retailers and manufacturers cited modest to moderate increases in revenues in recent weeks compared with a year earlier. Software and information services firms reported strong order increases in the fourth quarter. Commercial real estate markets were mostly steady in the region; in the Boston area office rents increased and sales prices for commercial properties were stable. Residential real estate markets across the region continued to experience increases in both sales and prices. Although none sought substantial additions to headcount, a number of firms reported difficulty finding workers to fill openings. Prices were largely stable. Most responding firms cited a positive outlook, expecting end-of-year growth rates to continue in 2017.

BEIGE BOOK REPORT - JULY 2016

Federal Reserve.gov

Residential Real Estate
Residential real estate markets in the First District remain strong. Five of the six First District states, as well as the greater Boston metro area, reported sales and inventory trends for the period May 2015 to May 2016; New Hampshire reported on trends between April 2015 and April 2016.

Closed sales of single-family homes are up by moderate-to-large margins in every state in the District, and pending single-family sales increased at a slow-to-moderate pace depending on the state. A contact in Rhode Island considers a summer slowdown "unlikely" in light of strong recent sales. Median sales prices for single-family homes are on average up modestly from a year ago--with Vermont and Connecticut reporting moderate price declines and the remaining states reporting small-to-moderate increases. Condominium sales figures varied across states. Closed sales of condominiums are up in all states except Connecticut and Vermont, while pending sales increased in Massachusetts and New Hampshire and decreased in Rhode Island, Maine, and Vermont. As in the single-family market, median condo sales price changes are moderate, with the exception of a large over-the-year decline in Rhode Island. However, a contact in that state believes the decline is likely transitory because the data are prone to volatility.

For both single family homes and condos, inventory is down in every reporting region. In addition, number of days on market decreased from a year earlier in all states reporting such data, as did months' available supply of both single-family homes and condominiums. Contacts continue to attribute the lack of inventory to a combination of lack of new construction and a dearth of sellers coming to market.

Despite persistent inventory issues, contacts are optimistic. Those in Massachusetts, Vermont, and Rhode Island all expressed a positive outlook, primarily attributable to strong buyer demand. They cite stable employment figures and continued low interest rates as the key factors supporting such demand.

Commercial Real Estate
On balance commercial real estate markets appear stable or improving in the First District. In greater Boston, a modest slowdown in office leasing is reported, especially for high-rent space, but rents are steady amid low vacancy rates. Office leasing activity held steady at a moderate pace in Portland and Providence, but in Hartford activity remains light and some firms gave up space. Investment sales activity is down in Boston from last year's brisk pace. However, industrial sales activity picked up recently in Boston and parts of Connecticut, and a Portland contact sees a strong industrial property market with potential for new construction. Throughout the District, office construction remains limited in light of high building costs. Infrastructure construction is on the rise in Rhode Island, and hotel construction is planned for greater Portland. A regional lender to commercial real estate reports an uptick in loan demand at his firm amid reduced competition from other lenders. The outlook for Connecticut's commercial real estate market remains somewhat pessimistic based on weak job growth in the state. A Boston contact expects the Brexit vote to exert downward pressure on economic activity in the U.S. and the region, but notes that the vote should also boost foreign investment in Boston's commercial real estate market. Elsewhere in the District contacts are cautiously optimistic for commercial real estate but see risks as tilted to the downside based on global economic and political uncertainty.

Millennium Tower: an excellent timeline for one of Boston's most iconic luxury residential buildings!mmm

 

 

 

 

 

 

 

 

http://boston.curbed.com/2016/7/18/12211546/millennium-tower-boston-timeline

Courtesy of Tom Acitelli of Curbed Boston

Currently Boston's tallest and certainly one of it's most iconic luxury residential buildings, 47 of the 442 condos have now closed.  With a timeline dating back to 2007 and all the buzz at cocktail parties across the Commonwealth (and beyond) , this is a momentous event in Boston real estate and a must read!  

Millennium Tower Boston residents will enjoy 5-star services, doorman, 24-hour concierge, plus access to an exclusive two-story Club with dramatic owner’s lounge offering private dining and bar, screening room, billiard parlor, library, private function room, outdoor terrace, children’s playroom, 75-foot lap pool and the largest residential-only fitness facility in Boston. Adjacent to the renovated historic Burnham Building, Millennium Tower will stand at the center of a reinvigorated downtown Boston, home to vibrant retail, and a new Roche Bros. gourmet grocery. Come see why Millennium Tower Boston is the evolution of luxury residential living.

picture courtesy of Millennium Partners.

 


 

Own Boston's Best Terrace with Stunning Views of the Boston Harbor and Financial District!

Own Boston's premier terrace.  In my 32 years of brokering, I have never seen a private terrace as amazing as this one! You'll enjoy 180 degree, postcard views of the Boston Harbor and Financial District from the private and palatial (est. 1,400+/- SF) wrap-around terrace.

                       

 

 

 

 

 

 

 

Located in a luxury concierge building, this 2BR plus den, 2.5 bath corner home offers Strada's best views and has been masterfully renovated. Highlights: Spacious open living area features a corner exposure, floor to ceiling windows, spectacular views, large den and step-out access to terrace.  Chef's S/S island kitchen.  Luxurious master bedroom suite with corner exposure, amazing views and sumptuous full bath en-suite. Large guest bedroom with adjacent full bath. Garage parking. Storage. W/D.  Private fitness facility. Professional mgmt. and cafe on-site.                 $2,250,000

   

    Contact Tim Marsh directly at tim@bostonluxuryrealestate.com or at

    617-548-7145 for more info or to schedule a private showing of this 

    breathtaking, one-of-a-kind property.  Don't miss out on this one!