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.

New Boston property tax assessments

The new Boston property taxes have been released. The rates and assessments have changed. This is important to know as a homeowner – especially if you have decided to sell your current home or buy a new home in Boston.

Click here to see more details on your Boston property taxes.

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

Success in Staging

The benefits of staging a home for sale are well known to local real estate agents, many of whom can recall their own success stories. I remember one development where the agents just seemed to be moving furniture from one unit to another – as each unit sold quickly after staging. But, some homeowners may not understand the importance of professional interior design when presenting a home for sale.

Interior Designer, Andrew Terrat has provided staging and interior design services for many years. The owner of Terrat Elms has staged model condominiums for newly constructed developments, such as FP3. He has also designed home interiors for homeowners in Boston, including clients at the Ritz. Each example offers a different style personality – from brick and beam urban lofts to casual beach retreats. Terrat uses a combination of the homeowner’s personality and the style of construction.

Terrat believes staging can help a buyer to make a personal connection to the home. “Home buyers have an immediate connection – or not – to a home when they see it. My experience is that you have one opportunity to make that connection. Staging a property effectively can seal the deal. Is the common hallway pleasant? Is the first look into the home instriguing?” Terrat also notes there is a real value proposition in staging. “My experience is that buyers are inclined to choose and are willing to pay more for a property that has been renovated well and that shows well. I always have resale in mind when working with clients.”

For more information, go to TerratElms.com.

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

Home-maintenance check list for September

A recent MSN.com article offered several suggestions of what to do to prepare your home for the fall and winter. Ideas include inspecting your storm windows and insulation, caulking exterior gaps, ordering firewood, cleaning your dryer vent and more. In some cases, you may even consider having more efficient windows installed to save on your monthly heating bills.

For more information, go to msn.com.

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

Spotlight on Boston real estate: Fixing up old homes

Boston.com featured a list of ten ways to improve an older home. From adding transom windows to open a room, to changing exterior paint colors, this list offers several solutions if you are selling your home or buying a previously owned home.

For more information, go to 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 Boston real estate: Boston named in list of “Best Cities to Buy a Home”

An article on forbes.com took a look at cities around the U.S. real estate landscape. By looking at a number of factors - including number of transactions, price per square foot and distribution of activity in the neighborhoods - Forbes developed a ranking system. Boston ranked #3 overall and had the largest increase in price per square foot at 6%.

To read the complete article, go to forbes.com.

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

Spotlight on Boston real estate: Bidding wars on Boston area properties

An article on wbur.org showed how properties that are priced aggressively are causing bidding wars. As the reporter put it, homeowners are setting the offering price low and allowing the market to bid it up. This seems to be working within Boston and its more desirable surrounding areas like Cambridge and Arlington.

To read the complete article, go to wbur.org.

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

Spotlight on Boston real estate: Preparing to buy a home?

A recent article on msnbc.com explored the current climate for purchasing a home and created a very helpful list for first-time homebuyers who are looking to take advantage of the federal tax rebate. If you are preparing to buy your first home, there are a number of things that you can do to better prepare yourself for it. From polishing your credit report to considering the maintenance costs of a particular property, there is much that a new homeowner can do to avoid unpleasant surprises.

To read the complete article, go to msnbc.com.

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

Spotlight on Boston real estate: The State of the Market

Joe Wolvek of Gibson Sotheby’s International Realty has released another State of the Market report for Boston’s neighborhoods. The bottom line is that Under Agreements are up. Why? Well, Wolvek sites a few reasons, including low interest rates, the $8000 first-time homebuyer tax credit and a recent slight boost in consumer confidence.

To find read more of Joe Wolvek’s State of the Market report, go to bostonrealtyweb.com.

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

Spotlight on Boston real estate: Pending home sales up over last year

There was some good news this week. The National Association of Realtors has indicated that March’s pending home sales were up 3.2% over February. But, even better, that number was also up 1.6% over March 2008. Year-over-year improvements are welcome news to sellers and it seems to be continuing. Open house attendance has risen in Boston.

To read more of the story, go to cnn.com.

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

Spotlight on Boston real estate: Staging homes for sale

NECN, a New England television station, investigated the benefits of staging homes that are for sale to improve saleability. Interviewing two local stagers, the reporter touched on the return on investment – in some cases 300% of every dollar spent! In one case, the home sellers opted to stay once the home was completed.

Read the complete story on necn.com.

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

Spotlight on Boston real estate: How “walkable” is your neighborhood

Boston.com explored an increasingly popular buzzword in real estate: “walkability”. Whether you are on foot or in a wheelchair, nearby amenities and public transportation are attractive features in this day and age. Many people who are being more “green” conscious are looking to avoid car travel and prefer to keep their social activities to their local neighborhoods.

Boston is well-known for its network of social neighborhoods. From the North End to the South End; from Cambridge to South Boston; Boston is a great area for those seeking “walkability”.

Read the complete story 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 Boston real estate: Stable pricing in Boston challenges bargain-hunters

The national news has given many home buyers the impression that there are deeply discounted homes on the market everywhere. But, they are not finding them in Boston. One reason is low inventory. Also contributing is the fact that New Englanders tend to be more conservative with their dollars – meaning fewer homeowners here are dealing with troubled mortgages.

Read the complete story on NPR.org.

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

Real Estate Update: Boston ranked in the top ten markets

A recent article on Forbes.com dug into the details of the S&P/Case-Shiller home price index. The result is a list of the ten best and worst real estate markets in the country.

The good news is that Boston is named in the ten strongest markets, along with Washington D.C., New York and Seattle. The worst list saw many familiar names—cities that have struggled for the last year, such as Las Vegas, Phoenix and Miami.

Read the full 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.

Real Estate Update: New winners emerge in this market

WJS.com reported on a substantial rise in first time homebuyers since 2006. The statistics show that more newcomers are able to get into the market, with rates AND prices down (in much of the country) – specifically, at the end of 2008, 41% of buyers were first-timers. In 2006, the number was only 36%.

Read the full article on WSJ.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 Update: Back Bay offers the quintessential Boston experience

A recent article on Boston.com talked about the pros and cons of Back Bay real estate. As Bostonians know, this is one of the most desirable neighborhoods in the city. With boutique shops, historic landmarks and fabulous restaurants, you can’t go wrong! (unless you are looking for street parking on a sunny day!)

Read the full 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.

Boston real estate market fares well in Case-Shiller list

A recent article on BostonHerald.com shows the Boston real estate market outperforming much of the rest of the country in the Case-Shiller list – Boston’s prices fell by a mild 6%, compared to the other large metropolitan markets that experienced an average decline of 18%.

Why is Boston maintaining better than other areas? Well, one reason is that Boston didn’t experience a construction boom like other areas of the country. Their influx of inventory prior to the subprime mortgage scandal and the subsequent market dip set off a landslide for prices in areas like Miami and Las Vegas.

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.

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.

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.