Wednesday, December 31, 2008

Boston and New York prove their resiliency again and again


A recent blog entry on the New York Times website details how three of the nations most resilient colonial cities have managed to survive and thrive over the course of their first 300 years. The reason for Boston’s success: human capital. From day laborers to tech-industry wizards, Boston’s workforce has seen us through our economic trials and tribulations.

Perhaps this history of strength for these cities can help to explain why they are faring the current housing market better than the rest of the country.

View the complete article on NewYorkTimes.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Monday, December 29, 2008

Spotlight on the north shore


Tom Kennedy of Gibson Sotheby’s International Realty has listed a stunning estate in Beverly. Sitting on almost 2 private acres, this mansion offers unparalleled views of the entrance to Beverly Harbor and the Atlantic Ocean. A long manicured lawn slopes to your own beach. This 8855sq foot home boasts a chef's gourmet kitchen, 6 renovated baths (3 full, 3 half) a complete master suite with sitting room, wet bar, dressing room and en suite bath. Third floor Stag Bar with spectacular water views, game room and library.

View the complete property description on SothebysRealty.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Wednesday, December 24, 2008

Spotlight on metro west


Karen Gray of Gibson Sotheby’s International Realty has listed a stunning estate in Framingham. Proudly resting atop Nobscot Mountain with cascading views over the 820 acres of Richard Callahan State Park to the panoramic skyline of Historic Boston and beyond, this brand new custom designed home offers the utmost in privacy. This commanding estate offers both the charm and convenience of a comfortable family home while maintaining a stately presence.

View the complete property description on SothebysRealty.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

2009 May see rate relief for Boston’s jumbo mortgages


A recent article on Bloomberg.com indicates that we may see rate drops for jumbo mortgages in 2009. This is due to Ben Bernanke’s plan for the Fed to buy $500 million in securities issued by Fannie Mae and Freddie Mac. It would affect Boston, New York and San Francisco; areas that see many homes in the higher price ranges.

View the complete article on Bloomberg.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Friday, December 19, 2008

Get Boston snow alerts sent right to your cell phone


Our first big storm of the year is on its way! Did you know that you can keep up with what is happening via your cell phone? The city of Boston allows constituents to sign up for email, cell phone text or voice updates regarding snow emergencies, parking bans and school closings. To sign up for this helpful system, go to CityOfBoston.gov.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Thursday, December 18, 2008

Boston real estate tax rate expected to change


The Boston real estate tax rate for residential properties is expected to drop for the second straight year, according to an article on Boston.com. This is good news amongst the recent real estate news stories. The housing prices in the Boston market have remained strong. Lower interest rates and tax rates may help to further stimulate the spring market activity.

View the complete article on Boston.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Spotlight on historic Charlestown


Frank Celeste of Gibson Sotheby’s International Realty has listed a beautiful, Federal style home in Charlestown. Built in 1805, this historic home is meticulously maintained. Featuring four bedrooms, two and a half baths, this home offers over 3000 square feet of living space.

View the complete property description on SothebysRealty.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Wednesday, December 17, 2008

Spotlight on Boston’s Seaport


Charles Joseph of Gibson Sotheby’s International Realty has listed a stunning loft in Boston’s Seaport district. Located near Boston’s newest icon of modern architecture, the Institute for Contemporary Art (ICA) and a number of great restaurants, the Seaport is also convenient to the South End, Downtown and the Financial District. This home offers 2 bedrooms, 2 baths, a balcony, fireplace and skylights.

View the complete property description on SothebysRealty.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

CNBC host encourages buying a home


Mad Money host, Jim Cramer encouraged investors to buy a home on Tuesday – in fact, he commanded it! He celebrated the Fed’s move to lower interest rates and believes the housing market will soon rebound.

View the complete clip on CNBC.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Tuesday, December 16, 2008

Boston ranked in top ten places to spend Christmas


Travel and Leisure has ranked Boston as one of the Top Ten Places to Spend Christmas.

View the complete story on TravelAndLeisure.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Spotlight on South End living


Laura Spence of Gibson Sotheby’s International Realty has listed a gorgeous South End luxury triple parlor. With stunning detail that gives a nod to the historic past of the neighborhood, this Victorian brick row house is very near to the boutique shops, restaurants, theaters and galleries for which the South End is so desirable.

View the complete property description on SothebysRealty.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Thursday, December 11, 2008

Spotlight on new construction - Allele


What is Allele? A hybrid design of traditional homes with loft looks.

If you’re looking for a condominium in Boston, the Allele happens to be a desirable new residential development. It was named for the scientific component because it is a hybrid design of traditional homes with lofty features. This exciting development has scene a lot of activity in the last few months, making Mary Kelleher & Ken Smith two of the busier agents in the city. The owners are young professionals and empty-nesters looking for great finishes, a modern look and functional layouts. Allele offers those features, along with outdoor space, parking and a great location.

Located near to I-93, the Mass Pike and downtown, Allele is also surrounded by a yoga studio, the MBTA subway and restaurants- including the latest location of the Franklin Cafe . The Franklin has been featured in Stuff@Night, Boston Magazine and Zagat, amongst others.

View the complete property description on AlleleBoston.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Boston real estate loan program offered by the mayor


A recent article in the Boston Herald details a new plan by Mayor Menino to jumpstart commercial construction in the city. He has stipulated that this money is earmarked for projects that already have permitting in place. Much of what the federal government is undertaking is geared toward the consumer. This effort is aimed a keeping Boston competitive and securing jobs.

Commercial real estate specialist, Jas Bhogal from Gibson Sotheby's International Realty sees this as a boost to a challenged market. “As we travel through the tunnel of financial crisis, this initiative will keep some important commercial projects moving through instead of stalling. Commercial financing has become even harder in the current times, as bank have pulled funding back from these projects.” Bhogal also commented on the difference between this and federal efforts. “The federal government has been mostly aiming to rectify the housing and financial crisis at the consumer level. This help at the city level will get the commercial projects which are stuck in the pipeline and create much needed jobs and revenue for Boston.”

View the complete article on BostonHerald.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Wednesday, December 10, 2008

Spotlight on country living - the Concord Estate


Tom Kennedy of Gibson Sotheby’s International Realty recently listed a stunning estate in Concord, Massachusetts. The 40 acre, extremely private, riverfront estate abuts conservation land and overlooks Fairhaven Bay. The property consists of a gated entry, long winding paved drive leading to approximately 14,000 sq ft home, stripped to the studs and ready for your imprint. There is a detached garage/office 2,190 sq ft +- and a studio/rec building of 2,334 sq ft+-. This property includes meticulous stone walls, rolling meadows, woodlands, and high bluffs giving sweeping views of the river. Seasonal dock is allowed.

View the complete property description on SothebysRealty.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

How to “pahk the cah at Havahd Yahd” or “park the car at Havard Yard”


Boston is famous for its distinctive accent and infamous for hard-to-find public parking – hence the title of this blog post. If you are a resident, or about to be a resident, you will find that insurance costs, monthly parking arrangements and parking tickets get to be quite expensive.

One popular solution to this problem is ZipCar. This membership-based rental company allows you to find and book cars within your neighborhood for hourly or daily fees. The hourly costs (from $7 -$14.25) include gas and insurance. The cars include the Toyota Prius, Honda CR-V, BMW 328 and Mini Cooper Convertible.

So, if you live and Boston and only need a car for the grocery store or the occasional ski trip, this might be the answer for you. Find out more about the cars and membership benefits at ZipCar.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Tuesday, December 9, 2008

Boston real estate firm gives back to the community

In a year that has seen historic stock market volatility, one local firm has chosen to help their neighbors in need. Gibson Sotheby’s International Realty, a luxury Boston real estate company, has decided to donate funds to several local charities in lieu of their annual client appreciation holiday party. “We are very aware of the needs that aren’t being met around the city. It is important for us to help our neighbors by donating our time, money and support,” says John Ranco, Sales Director.

Several of Boston’s community organizations will receive Gibson Sotheby’s support, such as The Home for Little Wanderers, Project Place and Home Start. The firm’s individual offices have also chosen to contribute to additional charities within their communities, including The Women’s Lunch Place, Hale Barnard House, The Boston Home, Kids Can Cook, Youth Service Providers Network, Animal Rescue League, Jane Doe Inc., New England Shelter for Homeless Veterans, Townie Santa, and the Warren Prescott School.

Larry Rideout, CEO and owner of Gibson Sotheby’s International Realty, says he has seen a tremendous amount of enthusiasm coming from the agents. Rideout and his family recently volunteered at the Boston Rescue Mission. “I am so proud of what we are doing. My colleagues and I care about our neighbors and want to do something to help them in a very real way. This is simply inspiring.”

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Boston luxury real estate expert comments on recent market activity


There has been a lot of recent market activity at several price points. The most recent edition of Distinctive Homes quoted Gibson Sotheby’s International Realty agent, Beth Dickerson regarding the higher price points. “The high end market is very active and there is a flurry of activity from interested buyers in the over $2 million range.”

View Distinctive Properties online at Nxtbook.com

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Monday, December 8, 2008

Spotlight on artful renovations – 86 Roseclair


Danielle Bing and Kerry Dowlin have listed three wonderfully renovated condominium homes near JFK/UMass. They’ve been developed by the renowned development group - New Boston Ventures of the South End. Their many large scale projects such as "The Modern" have lent inspiration to these floor-through homes in Dorchester's most sought after enclave.

These homes are approximately 1,100 square feet, featuring a third bedroom that can be utilized as a den or office. The "great room" is designed for entertaining with an open kitchen/dining area with glass double doors leading to private deck space. The bathroom features "green" luxury 1x1 tile, a spacious soaking tub with custom glass enclosure and designer vessel sink. For added comfort and convenience, there is laundry and central AC.

View the complete property description on SothebysRealty.com

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Chinese investors seek property bargains in the U.S.

A fascinating article in the Los Angeles Times investigates a recent trend: cash-rich Chinese investors touring U.S. neighborhoods for housing bargains. International investors are nothing new to the U.S. market. However, these latest groups are coming in caravan-style tours, making a much greater impact than the typical individual investor or family. Each group is hoping to capitalize on falling prices in the hardest hit markets, like Los Angeles and Las Vegas.

View the complete property description on LATimes.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Friday, December 5, 2008

Spotlight on the Boston real estate market


By Joe Wolvek

No, the national news is not good and year over year number of sales citywide is off. However, a good deal of real estate business in the core downtown Boston markets is getting done and I expect it to continue to be so. The number of sales is lower in those markets, but not as much as citywide, certainly far from the situation across the state and the nation. Perhaps counter intuitively, median price and $ per square foot continue to be high due to tightness of supply.

While prices and sales volume continue to drop in New York, driven mostly by the wave of layoffs in the financial services industry, here in Boston, while we certainly won't be immune from layoffs, our jobs market and economy are much more varied, which should insulate us from a good deal of the pain.

One of the reasons that we're going through this is obviously the great wave of foreclosures and bad debt out there. While there are not many foreclosures in the downtown Boston markets, the rising tide of foreclosures nationally caused in large part by the upward adjustment of ARM rates is obviously tightening credit, making mortgages harder to get.

The bad news is that this barring some major restructuring of this debt, this wave could continue through a good deal of 2009. There's certainly plenty to be concerned about in the economy right now. The good news is that after that, the upwards adjustment of the ARMS that are causing this should be over, and we will start to come out of this. There may also be more help for homeowners in trouble via programs that will lower their rates. Additionally, interest rates for new sales and refis have just become even more favorable (as of 12-2 5.5%-5.7% for a qualified borrower on a 30 year fixed--call your lender now!) and could go down further to historically low levels. And there's certainly hope that the huge stimulus package that will probably go into effect in January will help, in addition to the Fed lowering other rates and taking additional action to loosen up the credit markets.

In comparing the third quarter this year with last year, as I was for the second quarter, I continue to be a little bit surprised to tell you that we did well in the central downtown markets. Most of the year-over-year comparisons such as $/SF, numbers of units sold, etc., are not bad, and some are even quite favorable. As I said, we shall see what happens...

As far as Boston is concerned, our jobs outlook seems good relative to the rest of the country. Our level of supply is currently relatively tight to moderate depending upon the neighborhood. We are protected from overbuilding and oversupply because of the lack of buildable land. One of the big problems in places like Florida, Arizona, and Nevada, was that there was a huge availability of inexpensive land for developers to overbuild upon.

Due to the season, I would expect that it will continue to slow up a bit. Also, here in Boston, in addition to consumer caution, I think adverse effects will have more to do with the lack of availability of credit than anything else. The tightening supply of mortgage money has definitely continued to effect certain transactions. The rules continue to get stricter with regard to both borrowers (credit rating, income vs. debt, etc.) and properties (condo owner occupancy, reserves, presence of a commercial entity in the building, appraisal).

The market does not behave as a whole, in unison. It is divided into geographic and financial segments, which are all behaving differently. Both buyers and sellers should be aware of the market conditions in the particular segment they're involved with. Working with an experienced and knowledgeable agent can give you a big edge. Now, more than ever, it is important for buyers to get experienced help in executing a positive and comprehensive plan in order to make the right decisions, in sorting out the worthwhile properties, and getting help in negotiation and the transaction itself. And now more than ever, it is necessary for sellers to take advantage of the extensive marketing exposure, as well as market positioning, and negotiating experience that I bring to the table. I've been doing this for 15 years. If you would like more detailed info, or help purchasing or selling your property, please contact me. I stand ready to help you in either searching for and purchasing property, or marketing and selling your property.

For more information on the market, go to Joe Wolvek’s website.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Spotlight on luxury living – The Appleton-Parker House



Beth Dickerson has listed a $27.5 Million Residence with historic ties to author, Henry Wadsworth Longfellow. This Beacon Hill residence offers eleven plus bedrooms, ten full bathrooms, four half bathrooms, sensational park views, a ball room, and well preserved original detail spread across 18,000+/- square feet. Also boasting two roof decks, an enormous terrace, a three car garage and a six car parking lot, this palatial building also has condo development potential. Longfellow traversed the bridge between Harvard University and this home so often to visit his intended, that the bridge bears his name.

View the complete property description on SothebysRealty.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Thursday, December 4, 2008

The economy in black, red and beige…

Today’s article on Forbes.com dug into the Federal Reserve's Beige Book report, which showed the Boston region faring better than others. While the economic picture around the country is showing significant hardship, some major metropolitan markets are showing fewer symptoms of the recent volatility.

View the complete article on Forbes.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Wednesday, December 3, 2008

Photos translate to home sale success

Something you may not know is that the number of photos posted with your home in online advertisements has a direct effect on its Days On Market (DOM) and sales price. Therefore, it is critical that your home is clean and ready for photographs when your realtor arranges for photos. The more prepared your home is, the easier it is to get photos.

Source: realtor.org

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Tuesday, December 2, 2008

Using staging to help your home stand out in the crowd

The current real estate market is very competitive, with buyers looking for the best value of the existing inventory. One way to make your home stand out amongst the competitive landscape is by staging the home. Several local design firms offer de-cluttering and staging services to make your home look its best.

Mary Kelleher at Gibson Sotheby’s International Realty has witnessed this in action. “There have been several occasions within new developments, where each time we staged a condominium it sold – we would literal move the staging furniture from one home to the next.” Whether the home is empty or has belongings in it, staging helps the potential buyers to envision the space as their home.

Read an article on this topic at southcoasttoday.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Monday, December 1, 2008

House values are under scrutiny

If you are looking to sell your home or to buy a new one, you might be surprised at the increasing scrutiny that lenders are putting on home values. An article in the San Francisco Gate says that many banks are often demanding more thorough appraisals to be sure that their investment in your home (the money lent for a mortgage) is a safe investment.

Read the rest of this article on sfgate.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.