My new listing is in a fantastic Newton Centre neighborhood, just off Com Ave, and walking distance to the D line. The house has a fireplace and full basement. It’s on a large lot and has an attached garage. It needs some updating, but well worth it. Join me SAT and SUN, 12 PM – 2PM.
I mapped the 70 highest and 70 lowest dollar per square foot condo sales in Somerville and the influence Davis Square and the Cambridge line have on prices becomes immediately apparent. The green stars represent the group of highest dollars paid per square foot. The red dots, of course, represent the group with the lowest dollars paid per square foot.
Is Boston real estate a good investment? Check out this ad for the condo conversion at 90 Com Ave, Back Bay circa 1974. It says the condos start at $45K….Er, I think you should have bought two. I checked MLS and the cheapest unit to sell in the building since 2009, sold for $788K. Additionally, quite a few sold well in excess of $1 mil.
An advertisement to rent a Boston condominium for a vacation rental never shows photos of the front of the building: it’s a mystery. The precise location of the building also is undisclosed: it’s an enigma. Who owns the condo is a riddle.
If Boston has a black market for real estate, this could be it.
Every property management company I spoke with told me such rentals, the three- to five-day kind, even the less than 30-day kind, wouldn’t be allowed in any of the associations they manage. Such rental restrictions have condominium owners looking for short-term profits switching to stealth mode. And despite the somewhat clandestine nature of these business dealings, Hub condominium vacation rentals seem to be popping up everywhere. A quick survey of three of the largest websites (Homeaway.com, VRBO.com and Airbnb.com) revealed advertisements for condos of various sizes in Back Bay, Beacon Hill, the South End, North End, Brookline, Cambridge and Jamaica Plain, as well as a host of other locales.
(This post originally appeared as my Banker and Tradesman November column)
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I was looking for a characteristic that these condos, regardless of price, had in common.
I think I found it and wrapped it up in one word. What’s that word? Check out my featured column in Curbed and find out.
One of my more consistent columns concerns condos that sell way, way over ask. While I usually note the dollar value that they sell over ask, this chart ranks October sales by the percentage paid more than the asking price.
I tracked October condo sales in Boston, Brookline, Cambridge and Somerville. The chart represents the 25 condos that sold the highest percentage over ask.
Saw this informative article tacked to a wall at a Brookline open house. Quite frankly, I don’t know if buyers should be happy about it or deeply concerned.
About David Bates
David Bates is a top producing real estate agent who has sold condominiums, single families, and investment property in a variety of Boston neighborhoods and many of the city's better suburbs.
His insights appear not only in in this original content blog, but also in the most established local media, including Banker and Tradesman, Boston Magazine, Boston.Curbed.com, The Boston Globe, The Boston Herald, Bloomberg News and NECN.
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