Boston home sales on the rise for the 4th straight month

With the tax credit, low interest rates and improved consumer confidence helping to move buyers into the market, Massachusetts has seen an increase in the number of homes sold for the fourth month in a row. October saw its highest number of sales since 2005 – showing a 17.2% increase over the same month last year.

Click here to see more details on boston.com.

For more information on Boston homes for sale , go to Gibson Sotheby's International Realty, Boston's real estate experts.

How to buy a home in Boston

When looking at homes for sale in Boston, first time homebuyers might not always know what the next step is. This is a quick list for homebuyers that can help.

- Obtain pre-approval letter from lender
- Make offer to purchase (with initial deposit)
- Submit mortgage application
- Conduct home inspection
- Review condominium / property documents
- Sign P&S agreement (with additional deposit)
- Choose loan program and closing attorney
- Obtain mortgage commitment
- Get homeowner’s / condominium insurance
- Consider homestead
- Review closing costs
- Conduct “walkthrough” inspection
- Obtain check or wire funds
- Attend closing (bring photo ID and check book)
- Apply for residential exemption


If you wish to receive a free homebuyer’s guide for Boston, please email our Boston Real Estate Expert.

For more information on Boston condos for sale , go to Gibson Sotheby's International Realty, Boston's real estate experts.

Featured Boston condo: Laconia Lofts Penthouse

Introducing this unique residence at Laconia Lofts. Contemporary design offers an open & bright floor plan with 18 foot ceilings and a skylight. 2 Bedrooms/2 baths with a private deck off of the living room. Built-in shelving throughout, as well as plenty of wall space for art display. Cozy fireplace located in one of the bedrooms. Master bath features a jetted tub and separate shower. Private garage parking. Located in the heart of the South End, steps to the Silver Line, Peters Park, fine dining.

Click here to see more details on this Boston condo.

For more information on Boston condos for sale , go to Gibson Sotheby's International Realty, Boston's real estate experts.

Boston real estate market gets a good grade

The Urban Land Institute recently reviewed the Top Five Real Estate Markets. The Boston condo and single family home market did very well.

“Boston is a solid market as compelling economic drivers—premier educational institutions, life science companies, and high tech business—reinforce investors’ long-term conviction. Downtown apartment vacancies remain well under 10 percent and condo/house pricing ‘remains stiff.’”

To read the full story, go to ULI.com.

For more information on homes for sale in Boston , go to Gibson Sotheby's International Realty, Boston's real estate experts.

From Boston real estate to the National Picture

(SAN DIEGO, CA) -- Within two weeks of Congress passing an extension and expansion of the home buyer tax credit program through mid-2010, the feeling of renewed optimism and energy was in the air at the annual National Association of Realtors convention in San Diego this past weekend.

At a scheduled press conference, NAR introduced Vicki Cox-Golder as their new incoming President for 2010.

Ms. Golder stated in her press conference that her goals in 2010 primarily included, "Providing more liquidity to the real estate marketplace, get kinks out of the appraisal process, reduce restrictions on lending and further encourage our Realtors to really know their local markets."

NAR's senior economist Lawrence Yun also held a separate press conference and released some telling numbers and market predictions for 2010 that included; sales activity continuing to rise by as much as 15% in 2010, the reduction in inventory to just a 6-7 month national supply, and housing prices stabilizing and even showing a modest 3% to 5% appreciation by the end of 2010.

But Yun did admit that there are some issues that remain in 2010 that include increased foreclosures through mid-2010 and continued rising unemployment.

He further commented, "The fear factor that many consumers had in 2009 when it came to buying a home will be replaced by rational decision making and market data in 2010".

Other real estate market predictions made by Lawrence Yun for 2010 included;


* Estimated that over 2.2M families will take advantage of the home buyer tax credit program.

* 5.7M annualized sales rate of existing home sales, up from 5M in 2009.

* 550,000 new home sales, up from 400,000 in 2009.

* Over 3M homes in foreclosure in 2010 and an additional 3M homes in foreclosure in 2011.

* More international buyers enter the market in 2010 due to favorable exchange rates against the US dollar.


When asked, "what keeps you up at night for 2010", Yun replied "Inflation". "When inflation goes up, so does interest rates!"

Find the complete article on http://www.realestatechannel.com

Regional market surge helps Boston homes for sale

A recent RIS Media article documented the third quarter market improvements around the country – including the Northeast, where existing-home sales were up 16.7%. That is 6.9% over a year ago. One possible reason for the improvement is the First Time Homebuyer Tax Credit. The National Association of Realtors Chief Economist, Lawrence Yun, thinks a significant portion of the success is due to the tax credit. More than fiscally motivating, the credit has had an impact on the consumer confidence.

The Boston condo market was sited as one of the higher valued markets.

To read the full story, go to rismedia.com.

For more information on Boston homes for sale, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Boston homes and homeowners now have a new tool

It was announced at the National Association of Realtors convention this week that a new tool for homebuyers has just been launched. HouseLogic.com is a free source of information and tools from NAR that can help you make smart and timely decisions about your home. How will this affect Boston’s homes? Well, the site will offer content covering home improvement, maintenance, taxes, finance, insurance, and even ways you can get involved in and enrich your community. The goal of HouseLogic is to help you increase and protect the value of your home by helping you make confident decisions.

To read more about this new site or to see the beta version, go to HouseLogic.com.

For more information on Boston homes for sale, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Joe Wolvek of Gibson Sotheby’s International Realty put together a great analysis of homes going under agreement in the South End of Boston. This benchmark is very helpful for those keeping an eye on market movement to see how many Boston homes for sale are going under contract. Some of the activity could be due to the passing of the home buyer tax credit extension and expansion. The Boston real estate market still continues to outperform other markets in the country.

To read more by Joe Wolvek, go to BostonRealtyWeb.com.

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

New Magazine Features Boston Homes and Architecture

For those of you who haven’t already seen an issue of Esplanade, this beautiful new local magazine offers editorial on architecture, renovation, interior design, architectural history, food and everything else that gives Boston it’s rich cultural flavor. Produced by John O’Connor (of Interview Magazine and Harvard Business Review) and Hilary Lewis (winner of the American Institute of Architects’ Monograph of the Year Award).

This upcoming issue continues Esplanade’s look at 10 Buildings You Need to Know in Boston – with this issue’s spotlight on the ICA.

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

Documentary on Green Building in Boston

A recent documentary captures the building of the Macallen building in South Boston. Read the whole story on GreeningOfSouthie.com. The same entertaining and informative filmmakers who brought us "King Corn", have documented the building of a this groundbreaking structure. This 2008 film is now making its way around the festival circuit.

For more information on homes for sale in Boston, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Tax Credit is Extended: Boston Real Estate Market to Get a Boost

Congress passed the Extended Tax Credit for real estate purchases today. Now included are purchases for existing homeowners. Read the whole story on Boston.com. Condos and homes for sale in Boston are sure to see a boost from this much anticipated move.

For more information on homes for sale in Boston, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Featured Boston Homes for Sale: Cold Spring Green

The contemporary townhomes at Cold Spring Park were designed by an award-winning architect. Crafted for luxury living with extraordinary detail and artistry, each unit boasts a private elevator and totally 'Green' construction including geothermal heat/AC, solar ready, and T & G Cedar exterior. The open floor plan features soaring ceilings and skylights, glass and stainless detail throughout as well as Bayerwald 'Tilt and Turn' windows. The kitchen boasts custom-made cabinetry, Cambria Quartz counters, Sub-Zero refrigerator and Bosch appliances. The ultimate in New York City sophistication in Newton Massachusetts.

For more information on homes for sale in Boston, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Tax Credit Update: Extension Possible Today

Today may be the day that homebuyers find out about a potential extension for the tax credit that would otherwise expire on November 30. Read the whole story on Bloomberg.com. This could help to continue to bolster demand for homes for sale in Boston. The Boston real estate market has continued to see market activity, while other areas of the country have been less consistent.

For more information on homes for sale in Boston, go to Gibson Sotheby's International Realty, Boston's real estate experts.