Boston condo for sale: Tremont Street penthouse available

This luxurious, recently renovated penthouse offers an enormous private roof terrace and deeded parking with some of the finest finishes seen within Boston’s South End. There are two large bedrooms both with California Closets. Large marble bath features a river stone shower. Top of the line granite/stainless steel kitchen with gas stove top. Brazilian cherry hardwood floors throughout. Washer/dryer. Pet friendly. Close to the best restaurants and shopping that the South End has to offer. Contact Less Arnold to see this lovely home.

For more information on this lovely South End condo, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Featured Boston property: South End classic home for sale

Elegant parlor level 2 bedroom condo on lovely Chester Park in the South End features soaring 12' ceilings, new oversized Pella windows, and an expansive open living room. Brand new deluxe kitchen with Bosch appliances and honed granite just installed! Located close to public transit and great restaurants, this unit has everything; hardwood floors and detailed molding, two gas fireplaces, abundant closet space, W/D in unit, central air, and a private deck. OPEN HOUSE SUNDAY 4/25 11:30 - 12:30!


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

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 South End real estate: Loft-style home for sale

Introducing this loft-style one bedroom, one bath condominium in Gateway Terrace in Boston’s South End. This home is listed for sale and offers a bright open layout, high ceilings and tile floors throughout. The gourmet kitchen boasts granite countertops, breakfast bar and stainless steel Bosch and Fisher & Paykel appliances. The bedroom features a custom built-out closet. Complex offers a large manicured common courtyard and separately deeded garage parking spaces available for $55K. Only steps from SOWA artist studios and nearby restaurants such as Oishii.

To see more details about this home, go to South End loft-style home at Gibson Sotheby's International Realty, your Boston area real estate experts.

For more information on Boston South End real estate sales, 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.

Spotlight on Boston real estate: The top places to live in Massachusetts

Boston.com did a survey of real estate agents, asking them to rank the top places to live in Massachusetts based on a few criteria: for first-time homebuyers, luxury homes, affordable homes, school systems, lifestyle and more.
To read more of the story, 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’s South End

Joe DeAngelo of Gibson Sotheby’s International Realty has listed a gorgeous single family home in Boston’s South End. This historic building is in a great location! Once home to a sea captain and his son, this three bedroom and two-and-a-half bath home has wonderful possibilities. It features oversized windows, crown moldings, and six marble mantels. An exterior makeover was completed in 2008, including new roof and roof deck, with amazing Back Bay skyline and South End views.

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.

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.

The Red Sox aren’t the only winners in the Fenway

A recent market study suggests that Boston’s Fenway neighborhood is showing market momentum, with a whopping 12.3% increase in average sales price to $359,156. A meager 2.71 month supply of inventory, even lower than the South End, is driving favorable prices for homeowners within that area. The average days on market are a shocking 86 – by comparison, the South End is performing well at 122!

The Fenway neighborhood, most well-known for being the home of the Boston Red Sox, is also the location of the Museum of Fine Art, the Isabella Stewart Gardner Museum, as well as several notable universities and colleges.

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

Source: MLS.

Boston’s hot neighborhoods still going strong

A study on the housing inventory in the neighborhoods in and around Boston is showing an overall reduction in inventory and some increases in median and average sale prices. The big winners were the South End and Back Bay. Along with the South End’s 3.21 month supply and the Back Bay’s 5.77 month supply, each area has also enjoyed an increase in average sale price. The South End increased 5.4% to $642,969 and Back Bay jumped 7.6% to $932,316.

Source: MLS.

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

Big Dig Ends, New Hope Begins

A recent New York Times article proposes that the completion of the Big Dig will encourage more people to move to Boston. With the old green central artery gone and new green space in its wake, there is renewed interest in coming back to the city.

We've seen a number of Baby Boomers move to Boston from the burbs in the last five to ten years. With the spring market in full swing and the interest rates at a remarkable low, buyers are showing up to open houses in droves.

http://www.nytimes.com/2008/02/24/us/24dig.html?_r=1&hp&oref=slogin

No Savings in FSBOs

The December 24^th edition of Banker and Tradesman features an interesting page-one article on the FSBO market. The percentage of For Sale By Owner properties in Massachusetts has remained steady over the last 2-3 years. That might be surprising given the growing number of companies that offer limited marketing for FSBOs and the amount of shared information online.

The Massachusetts Association of Realtors believes it’s found the “fly in the ointment.” Though homeowners save on the typical 5-7% commission, there is a dramatic difference in sales price: in a MAR 2006 survey, the median sale price for FSBOs was $312,000, compared to agent-assisted sales at $385,000. The math shows a net gain for homeowner’s using agents:

$385,000 – median agent-assisted sale

- $19,250 – agent commission (5%)

$365,750

After the commission is paid, the agent-assisted homeowner got $53,750 more than the median FSBO sale!

What are the reasons for the discrepancy? The Banker and Tradesman article points to a number of tools that agents have: greater marketing exposure, proper pricing, expertise in negotiations and proper disclosures. The article also sites that these tools are more important in a market such as this.

Source: http://www.bankerandtradesman.com/pub/5_316/residential/198256-1.html

For more information, email us at gibsonSIR@sothebysrealty.com or visit our website at http://www.gibsonsothebysrealty.com/ .

Gibson Sotheby’s Celebrates Its First Year Anniversary

Local firm finds remarkable success in global affiliation

“We never dreamed that we could achieve this kind of success in our first year. It is like an early holiday gift,” said Larry Rideout. He and his partners, Paul McGann and Michael Hansen, acquired Boston’s largest independent real estate company in November of 2006 and brought it into the Sotheby’s International Realty network one month later. “Sotheby’s international reach and high standards were just what Boston homeowners were looking for and they have welcomed us into their homes in the most remarkable way.”

In the months following that landmark announcement last December, the partners absorbed a Westwood office to reach out to suburban homeowner’s and then merged with Back Bay’s luxury powerhouse, Dickerson Real Estate. Then, the most successful Waterfront office joined them, followed by Lois R. Kunian Real Estate, a 27 year veteran of the business. They further enhanced their portfolio of services by building a relocation division that has now placed more than 400 referrals around the world, winning an award in October at the Who’s Who in Luxury Real Estate Fall Conference in Vancouver. Gibson Sotheby's was one of only 8 award winners within the network of over 450 luxury real estate firms.

“While many other companies have been downsizing, we’ve been growing,” said Owner, Paul McGann. “After acquiring the top company in the city and bringing in the centuries old Sotheby’s name, other agencies began calling us. We completed our 3 year plan in the first 10 months.” Gibson Sotheby’s International Realty more than doubled their agent base in first year, upgraded their offices and opened a new space at 69 Newbury Street. They exceeded last year’s sales volume by the end of August and raised sales by more than 36% over last year. Since January, their firm’s ranking has been boosted from number 16 to number 10 in the state (source: MLS). Their Rental Division, the largest in the city, was up 33% over last year. So what about the down market? “We haven’t seen it,” said Hansen. “We’ve been helping more people purchase homes this year than I can remember. We’ve seen the real estate market slow down a bit around the country. But, in and around Boston, homes are in high demand.”

The company has also participated in several events around the world to see how they might find new ways to service their clientele. “In the last year, we’ve been to New York, Connecticut, Scottsdale, Colorado, California, Grand Cayman, Canada, England…” said John Ranco, Gibson Sotheby’s Sales Manager. “In fact, we just got back from Las Vegas for the National Association of Realtors Convention. Last week I had the opportunity to visit our office in London & toured the Auction House at New Bond Street. Each trip is an opportunity to develop as individuals and as a company, knowing that local homeowners benefit from our professional growth and our personal investment in our service.“ Ranco notes that Sotheby’s global ties allow his Boston firm to reach out to the influx of international investors who are taking advantage of the powerful Euro.

The growth plan for Gibson Sotheby’s International Realty in 2008 is under wraps. “We have some very exciting plans in the works,” said Rideout. “Don’t be surprised if we complete our 5 year plan in the next 12 months.”

For more information, go to http://www.gibsonsothebysrealty.com/ or call 617.426.6900.

Contrary to News Reports, Boston Luxury Market Remains Strong

By Larry Rideout

Recent news articles are celebrating Boston’s thriving luxury real estate market (“Hub’s Condo Market Enjoys Life of Luxury” in Banker and Tradesman and “Finding a windfall in their walls” in the Boston Globe). This may seem inconsistent with the “Chicken Little” syndrome in the media for the last 18 months. You might wonder how the sky could be falling while the luxury market is booming. There are a few reasons for this phenomenon:

1. The sky isn’t falling… in Boston – While much of the nation has seen a major market correction, Boston has remained strong. My real estate colleagues in beleaguered markets like Las Vegas and Miami have battled falling prices and rising inventory levels. By contrast, Boston and Manhattan have experienced a relatively small correction. For the months of January-October, there was a 27% increase over 2006 in homes sold for $1 million or more. There was a 17% increase in homes sold at all price points. (Source: Boston’s MLS for Back Bay, Bay Village, Beacon Hill, Leather District, Midtown, North End, South End, Waterfront).

2. Boston was less affected by the recent drama in the mortgage industry – The national media rallied around horror stories of 13% mortgage interest rates and a shocking increase in foreclosures. However, the most dramatic hikes and salacious stories took place in California; a state that has been historically less stable than the New England states.

3. The luxury buyer is unaffected by recent changes in the mortgage industry – Many luxury buyers do not utilize loans to purchase homes. Some are cash buyers or are utilizing the 1031 exchange process.

4. The falling dollar makes this market more attractive to foreign investors – One UK pound buys $2 and one Euro buys $1.50. This means a higher value of investment for foreign buyers. Local real estate companies with global ties are seeing a rise in the number of international buyers for properties in major metro markets, like Boston.

The good news for Boston homeowners is that our properties continue to be desirable to buyers and investors, alike. Invest in Boston with confidence – after all, the city has earned it!

_________

Larry Rideout is the CEO and Owner of Gibson Sotheby’s International Realty in Boston. Mr. Rideout has more than 20 years of experience in real estate, including 15 years with the nation’s largest real estate firm, as Senior Vice President of Realogy. Contact him at Larry.Rideout@SothebysRealty.com or his website http://www.gibsonsothebysrealty.com/ .