The company analyzes millions of bits of data for its annual Global Traffic Scorecard. Boston always scores rather high, but this year the city appears to have rated particularly bad.
For the first time, too, INRIX looked at commutes in terms of peak (slowest travel times) versus inter-peak (fastest point between morning and afternoon commutes) travel times. In Boston on average, commutes increased 27 percent during peak versus inter-peak hours.
There was a bit of good news in the report. “[I]n cities like Boston, Washington, D.C., and Chicago, a higher proportion of trips are taken via public transportation, walking, or cycling.” Any car trips then are more likely to be related to business, the report said—unlike in, say, Los Angeles, where everyone drives everywhere for everything. In fact, INRIX said that L.A. was the most car-dependent city of the top 10.
Rare front-facing two bedroom luxury condominium boasts one of Boston's most coveted addresses across from the Boston Public Garden. The condo features postcard views of the Boston Public Garden, Boston Common, Beacon Hill and the Back Bay. Amenities includes 24/7 world-class concierge services, one valet or self-park garage space, fitness center, heated lap pool overlooking the Public Garden, direct phone line to the concierge and hotel and direct access to the AAA Five Diamond and Mobil 5 Star Four Seasons Hotel. Four Seasons in-room dining and housekeeping services are available. List Price: $2,995,000.
That Park Street tower would have 306 apartments and condos as well as 672 parking spaces, including 144 for residents of the units above. The plans from CIM Group and Boston Global Investors would also add about 46,000 square feet of restaurant and retail space to the site.
The plans are in flux, of course. CIM and Boston Global are still looking at how to meet city requirements for affordable housing. And the scope and design might change under public scrutiny. But the would-be developers are not leaving one thing in particular to chance:
The winter solstice creates the least favorable conditions for sunlight in New England. The sun angle during the winter is lower than in any other season, causing the shadows in urban areas to elongate and be cast onto large portions of the surrounding area.
At 9:00 a.m. during the winter solstice, new shadow from the Project will be cast to the northwest onto a portion of the Boston Public Garden and nearby rooftops. No new shadow will be cast onto nearby streets, sidewalks, or other public open spaces.
At 12:00 p.m., new shadow from the Project will be cast to the north and will be limited to nearby rooftops. No new shadow will be cast onto nearby streets, sidewalks, bus stops, or public open spaces.
At 3:00 p.m., new shadow from the Project will be cast to the northeast onto a portion of the Boston Common, and onto Tremont Street and its sidewalks as well as nearby rooftops. No new shadow will be cast onto nearby bus stops or other public open spaces.
Tim Marsh sells a palatial and beautifully renovated full service penthouse condominium at the Four Seasons to one of his direct customers. Two units were seamlessly combined to create this 2,760 SF 3+BR, 3 bath residence at the world-class Four Seasons at 220 Boylston Street, across from the Boston Public Garden. Features include a 25' living room with architectural ceiling, fireplace and wall of picture windows. Chef's kitchen with all the bells and whistles. Three bedrooms plus den/4th BR. Sumptuous master bedroom suite with huge walk-in closet and spa-like bath. Two self-park or valet garage spaces.
Five Star services from the Four Seasons Hotel include a fitness center and heated lap pool. In-room dining is available. Direct access to the Hotel lobby and the popular Bristol Lounge and Restaurant. Conveniently located across from the Public Garden and Boston Common. Close to the Financial and Back Bay Business Districts, Theatre District and the famous Newbury Street shops and restaurants.
Today's housing market is arguably one of the most competitive in history. A record low supply of listings, coupled with extraordinarily high demand from the largest generation, mean fast-rising home prices and more people going after the hottest properties. Bidding wars are now the rule, rather than the exception.
So how do you win a bidding war? Best to be prepared before you even begin your search and to carry equal amounts of patience and humor with you … if possible.
Decide on your absolute maximum price. This factors in the monthly payment on your mortgage (if you need one), property taxes, homeowners insurance, potential homeowner association or condominium fees, and a general estimate of monthly upkeep (lawn care, pool guy, unforeseen repairs). Then start looking for homes priced slightly less than that maximum. This gives you some wiggle room in the bidding war.
1. Come with cash. Not everyone can do this, but if you can make an all-cash offer, you will have an advantage. In certain very hot markets, investors are heavy, and they usually come with cash. Sellers don't want to deal with the possibility that your loan might not come through, or they may not want to wait the extra time for the mortgage processing, so they prefer cash. In some cases they may even cut the price a bit to get the cash. Coming with cash can actually double your chances of winning a bidding war, according to Redfin, a real estate brokerage. You can always take out a mortgage after the deal closes.
2. If you don't have all-cash, try waiving the financing contingency.That is when the deal is contingent on your loan being approved by the lender. Be careful though, you don't want to end up on the hook for cash if the loan doesn't come through, so get a fully underwritten loan pre-approved from your lender before submitting your offer. This could improve your chances of winning a war by 58 percent, according to Redfin.
3. Try a personal letter to the seller. I did this once myself, and it worked on a deal I never expected to win. Selling a home is just as emotional as buying one, especially for sellers who have lived in the home a long time and have raised their kids there. Sellers want to know a little about the people taking over their precious nest. If you're a young family, write about how you can see raising your children in the cozy family room and how you already envision them playing in the back yard. Write about how much you love the neighborhood and want to become an active part of it. DO NOT tell the seller if you plan to gut the home. That could gut the deal.
4. Finally, don't be afraid to walk away. The last thing you want to do is get over-emotional and overstretch your budget. Don't be house-poor. That defeats the whole purpose of the investment.
And remember, there will always, always be another perfect home.
Four Seasons two bedroom overlooking the Boston Public Garden!
Priced to sell at $2,575,000 or $1,798 per SF; $621 below the average sale price per SF of the last five front facing residence at the Four Seasons at 220 Boylston Street. At 1,432 SF with two bedrooms, two baths, garage parking and views into the Public Garden, that leaves plenty of room to put your signature on this luxury condominium property and still be "in the market".
The 30-story, 340-foot Pierce Boston condo and apartment tower, the tallest building in Boston west of Back Bay, officially opened at Brookline Avenue and Boylston Street in Fenway on March 1.
Four weeks earlier, one of the biggest—and longest-in-coming—new projects in the Boston region got officially underway: The five-building, 1.1 million-square-foot Fenway Center where Brookline and Commonwealth avenues meet in the Kenmore Square area.
These buildings would total more than $1.48 million square feet of commercial, technology, and life science research space—the idea is to rival other regional commercial hubs such as Kendall Square and the Seaport.
It’s there that owner HYM Investment Group has put forward a general redevelopment plan with two paths. Both paths include 16.5 million square feet of new residential, retail, office, hotel, and lab space built out over as long as two decades. (Eleven million square feet of that would go in Boston and 5.5 million in adjoining Revere.)
That pro-commercial path would be paved with the up to 8 million square feet of office space that Amazon is seeking in a new HQ. It would, too, include 7,500 residential units, 550,000 square feet of retail, and up to 830 hotel rooms.
But suppose Amazon choose Dallas or some such exotic placeinstead of Boston. In that case, HYM would take a pro-residential path, with 10,000 housing units, 450,000 square feet of retail, and 670 hotel rooms.
There would also be 5.25 million square feet of office space.
Kendall Square-based M.I.T. is driving much of the change in the Cambridge neighborhood.
Silver Line service from downtown Boston into Chelsea is expected to start this spring. The five-mile route will run from South Station to a stop just west of Everett Avenue, and will facilitate connections to the Red and Blue lines.
An estimated 8,700 people will use the route daily, a figure sure to further boost Chelsea’s status as a Plan B for buyers and renters priced out of Boston proper.
The route will include an exclusive right-of-way for Silver Line buses once in Chelsea, where there will be four stops total. And, as part of the extension, the state will relocate Chelsea’s commuter rail station westward and spruce it up quite a bit.
These developments including the Hub on Causeway, the first phase of which is under construction and is due to include the city’s largest supermarket; a 15-screen movie theater; 10,000 square feet of outdoor space for a new entrance to TD Garden and North Station; and 175,000 square feet of what the developers are calling “creative office space.”
Click on the following link to check out our new mid-year issue of The Real Estate Insider. We've been providing our readers with timely data, offerings and sales reports on the Boston real estate market since 1992.