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Boston real estate news: The Tax Credit closing date was extended

Boston home buyers panicked about not making the June 30th deadline for receiving their Federal Tax Credit were given a reprieve. They now have until September 30 to close on their qualifying property. In order to qualify, those homes had to be under agreement by April 30 – that deadline did NOT change in this recent extension.


For more information on this extension, go to WSJ.com.


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

Boston homeowner tips: Cool your home AND receive a tax credit

The warmer temperatures aren’t the ONLY reason to install a new central air conditioning system. According to the Energy Star website, there are some central A/C systems that qualify for government tax rebates. This is part of the ongoing program intended to assist homeowners with making their homes more efficient - all the while, stimulating spending.

For more information on central air conditioner rebate, go to the Energy Star site.

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

Boston real estate market: Sales in luxury market grow

Massachusetts’s luxury home market, which saw a slow down during the recent economic challenges, has been coming back in dramatic fashion. From January 1 to June 1, 625 homes valued at $1,000,000 or more were sold, with May coming out on top with 173 sales. The first week in June has seen a tremendous amount of activity!

The most expensive sale was of 51 Commonwealth Avenue, which broke the $10 million mark and was listed by Gibson Sotheby’s International Realty. The firm also recently reduced 40 Beacon Street, a historic home on Beacon Hill, to $19.9 million. That 21,000sf home offers stunning views of the Common and luxurious finishes, as well as a spacious patio and 9 parking spaces.

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

Boston real estate market: High on the high end

Boston’s luxury condominium market, hard hit by the economic downturn over the last two years, is making a dramatic comeback that some say signals renewed faith in high-end real estate. Sales and median prices in the city’s full-service luxury buildings jumped by more than 50 percent in the first quarter of this year, according to data expected to be released today by Listing Information Network, a private Boston company that tracks the downtown condo market. Buyers closed deals for 94 units in luxury buildings in the first quarter, a 59.3 percent increase from the anemic 59 deluxe condos sold in the first quarter of 2009, according to the data. The median selling price of $874,150 was 56.1 percent higher than the same time period in 2009.


To read the full story, go to www.boston.com.


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

Boston real estate update: National real estate market rises

Boston’s real estate market, along with the rest of the country has seen a lot of positive growth over the first quarter of this year. According to the National Association of Realtors, sales increased from a year ago in 44 states and the District of Columbia; 31 states and D.C. saw double-digit gains while two were unchanged and four were down. National Association of Realtors President, Vicki Cox Golder, said there’s been a change in market psychology. “Buyer confidence is back, and home buyers have long-term views. The typical buyer plans to stay in their home for 10 years, so we’ve put the flipping mentality behind us and most people see housing for what it is – shelter that provides social benefits and is also a good long-term investment,” Golder said.

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

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

Boston real estate company seeing sales growth

Boston luxury real estate company, Gibson Sotheby’s International Realty, has seen growth in market share in the first five months of 2010. Now ranked as number five in the state – and the only Boston-based firm in the top five – the firm has closed more than 200 sides for almost $150 million since January 1, with well over 150 scheduled to close in May and June (source: MLS). And it’s not just the activity from the federal tax credit. In fact, Gibson Sotheby’s closed 15 sides for homes over $1 million and has 25 more scheduled to close.

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

Featured Boston property: South End condo for sale

This South End 2 bedroom, 2.5 bath duplex offers a Chef's kitchen with stainless steel appliances and countertops, a Gaggenau cook-top, a Miele oven and a Bosch dishwasher. Open living/dining/kitchen area gets wonderful sun and leads directly to adorable patio with direct access to a full, deeded parking space. The expansive master suite has 2 closets and beautiful bath-subway tile and back-lit vanity mirror. There is a large second bedroom with ample closet space. Entry foyer with seating space/closets. A/C, prof mgmt, pet friendly and minutes to the best South End restaurants, shops, the T, and parks.

To read more about this fabulous South End condo, go to Boston real estate for sale.

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

Boston real estate agents gearing up for National Open House Weekend

Boston’s real estate agents are preparing for a very busy weekend. With only 3 weeks until the Tax Credit expires, the National Association of Realtors, in conjunction with dozens of local Realtor organizations, has declared April 10 and 11 as National Open House Weekend. The Boston Globe is also planning a special real estate section for Sunday’s paper.

So, what can prospective buyers expect? According to MLSpin, there are approximately 900 open houses planned in Boston alone! Some agents, like Gibson Sotheby’s International Realty’s Kerry Dowlin and Lee Robinson, are planning open houses on both Saturday and Sunday to provide maximum exposure for their clients and more opportunity for prospective buyers.

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

Boston real estate borrowers have an advantage

Boston ranks in the 10 cities that Forbes ranks as the best for real estate borrowers:
1. Kansas City, Mo.
2. Houston
3. Dallas
4. Virginia Beach, Va.
5. San Antonio, Texas
6. Boston
7. Pittsburgh
8. Denver
9. Seattle
10. Portland, Ore.

To read more about Boston’s real estate ranking in this list, go to Forbes.com.

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

The Boston luxury real estate market is coming back

MLSpin shows the Boston luxury real estate market in a great light in 2010. From January 1-March 28, 2009, only 183 homes sold for $1 million or more. For the same dates in 2010, there have been 271. That is a 48% increase! By comparison, the state’s general real estate sales are up 10-11% year-over-year.



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

Boston and Northeast real estate market surges ahead

The Boston and Northeast real estate markets are improving ahead of the country’s other sectors. The NYTimes had an article that quoted the Boston-based Warren Group and the National Association of Realtors – both organizations touted serious gains and/or improved stability in the Northeast real estate markets.

To see more details, go to the NYTimes.com.

For more information on Boston and New England real estate sales, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Boston Real Estate Firm Sees Upward Mobility

Gibson Sotheby’s International Realty is finding conventional successes in unconventional ways

BOSTON: Only a few weeks into the spring market, one Boston real estate firm is seeing tremendous success. Gibson Sotheby’s International Realty recorded 80 Under Agreements and over 100 sales transactions in January and February (source: MLS). The firm is ranked #5 in the state and has the #1 office in Boston’s Back Bay for 2010 sales-to-date. But their recent success is not just measured in sales figures. The firm has made some strategic moves over the last few years, making them the top-ranked Boston-based firm in the state. They expanded with office acquisitions in the Waterfront, Charlestown and Westwood areas. They also invested in the firm’s infrastructure, including additional marketing and relocation services for their clientele. “We saw the importance of offering the finest services to each client,” says Michael Hansen, President and Co-Owner. “We knew our clients would appreciate the special efforts we now provide.”

All the improvements have attracted highly successful sales associates. Once again, Gibson Sotheby’s recognized Beth Dickerson as their top agent in 2009, having sold the highest volume of sales. Dickerson’s average sale price was more than $3 million last year and she recorded the most expensive sale in Boston, a condominium on Beacon Street in the Back Bay that sold for $9.25 million. Co-Owner, Paul McGann, meets regularly with agents who are considering the firm. “Most often, agents who join us are already successful – but they are looking to go to the next level; to grow their business.” It is that growth potential that brought agents like Tammy DeWolfe to the company. After years in the business, she joined Gibson Sotheby’s Westwood office last month, citing the company’s support as a major motivating factor.

CEO and Co-Owner, Larry Rideout, continues to look for new ways to offer service to an expanding clientele. This month, the company launched a text-to-MLS service offered by Kwkly. This allows home buyers to text the address of any property for sale to get MLS information in seconds. They also have added an iPhone application and a GPS-based search function. “The percentage of Gen X and Gen Y home buyers is growing and they want immediate access to information,” says Rideout. “Our goal is to continue to find new ways to provide exceptional service.”

Boston real estate smoke detector regulations

The Boston real estate smoke detector regulations will change April 5, 2010. The Greater Boston Real Estate Board has released a guide to the changes and frequently asked questions.

To see more details, go to Boston smoke regulations.

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

Boston Real Estate Firm Goes Mobile

Local agency uses new technology to give clients MLS access on-the-go

BOSTON: Gibson Sotheby’s International Realty has announced that it is launching a new mobile service for Boston. Kwkly is a service provider that offers MLS access via text, GPS searches and an iPhone app – all allowing people to search for homes for sale by simply using their cell phone. This brings market information right into the hands of the user, no matter where they are. CEO, Larry Rideout, was very excited to be the first to offer this service in the Boston area. “Our clients are very savvy about real estate and technology. When I first saw how Kwkly worked, I knew our clients would love it. Now we can share this service with everyone in Boston.”

The text service works like this: the user texts the word “Gibson” to 59559. They are then prompted to give an address of a property that is for sale. The MLS info will be texted back to them in a matter of seconds. They will also receive a link to Kwkly’s GPS search service. If their cell phone has GPS abilities (as in Google Maps), they will be able to find the five nearest properties that are for sale and comparable recent sales. Lastly, iTunes App Store has two applications MA Homes and Boston Homes that users may download for use on their iPhone.

Rideout says that Gibson Sotheby’s International Realty is always looking for the best way to offer assistance to their clientele. “We pride ourselves on our quality of service. This is one more way that we can provide what our clients want – immediate access to information.”

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

Boston real estate ranks fourth for international investors

The Boston real estate market was ranked as the fourth best, behind Washington DC, New York and San Francisco in the 18th annual survey by the Association of Foreign Investors in Real Estate. And the market seems to be expecting a boost, as 2/3rds of the respondents said they expected to invest more in the U.S. in 2010 than they did in 2009.

To see more details about this survey and its findings, go to AFIRE.org.

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

Boston area real estate: Fabulous waterfront home for sale

This ideal Boston area waterfront single family home with a private sandy beach is located just 30 minutes from Boston and is situated on a 1/2 acre+- lot in desirable Beverly Cove. It offers stunning views from multiple rooms of Misery Island, Marblehead Rock and the open ocean. A well maintained 3-4 bedroom, this shingle-style home features a renovated kitchen and a large deck with sweeping ocean views.

To see more details about this home, go toWaterfront real estate at Gibson Sotheby's International Realty, your Boston area real estate experts.

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

Back Bay real estate: Boston penthouse with private deck

This gorgeous penthouse two bedroom duplex in Boston’s Back Bay features a private deck with stunning city skyline views. Sun-filled open living room with cathedral ceilings, renovated gourmet cook’s kitchen with breakfast bar, separate dining area, and glass doors leading to a private deck. Spacious master bedroom with two closets, second bedroom perfect for office/guest room combined. One and a half marble baths, pristine hardwood floors, fantastic storage and closet space throughout, central air conditioning, elevator, and parking included.

To see more details about this home, go toBoston Back Bay penthouse at Gibson Sotheby's International Realty, your real estate experts.

For more information on Boston Back Bay real estate sales, 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.