Boston Luxury homes selling WAY over last year’s mark

Boston’s luxury real estate market appears to be selling far more than last year. Gibson Sotheby’s sold 40 $1 million+ properties so far this year – as opposed to 21 for the same period last year. Beth Dickerson’s sale on Commonwealth Avenue in Boston’s Back Bay – for over $10 million - is the most expensive home sold in the state so far this year (source: MLSpin).

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

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 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 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.

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 Tax Credit deadline is almost here!

The Tax Credit deadline for contracts is April 30, 2010 - that is just a month away! The market has been incredibly busy, with year-over-year SOLDS up 10%-11% in the state of Massachusetts in the first quarter. April is already showing a huge number of scheduled closings. Don’t miss your opportunity to take advantage of Boston’s great homes for sale, low interest rates and the tax credit!

To get more details on the Tax Credit Extension and Expansion, go to the Tax Credit Guide.

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 waterfront home offers an urban oasis

Experience this URBAN OASIS. Whether you enjoy gardening, grilling, entertaining or just "people watching," this enormous private deck, overlooking Boston’s Rose Kennedy Greenway is calling to you. Experience unparalleled views from this unique penthouse loft. A true gem, this home offers a fabulous floor plan, 11+ ft. ceilings, hardwood floors throughout, exposed brick and beam detail. The open chef's kitchen has granite counters, custom birch cabinets, and gas cooking. A private sleeping area with custom built-ins, separate home office and full tile bath with soaking tub complete this home. The building offers deeded covered parking, elevator, common roof deck and off-site professional management. This loft style building has been the destination of choice for many upwardly mobile local professionals and athletes. 26 Stillman Street offers the very best in city living.

To see how a Boston Bruin recently decorated his place in the same building, go to 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 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 sales top market gains list

Boston real estate sales are at the top of the market gains measured by Zillow. As housing stabilizes around the country, forty-eight of the 154 markets tracked showed gains in home values during 2009, with the Boston metropolitan statistical area (MSA) showing the largest gain of $23.3 billion. The Providence, R.I. MSA was second on the list, with a gain of $12.4 billion.

Secretary of the Treasury Tim Geithner recently spoke before the Congressional Oversight Panel, saying, "Housing markets are showing some signs of stabilizing and wealth is recovering, which should stimulate consumer spending - vital to American economic growth.” However Geithner said unemployment continues to slow full national economic recovery.

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