A standing-room-only crowd packed NAIOP’s “Big is Back” presentation this past Wednesday. The crowd listened as a four-member panel of development pros, intimately involved in several of Boston’s most ambitious and complex development projects, discussed the projects and the current state of the market.
Here’s a Hub real estate investment theory for you: The more you like to invest in Allston-Brighton, the less you’re going to like to invest in the Seaport. Why? The Seaport is about as opposite of Allston-Brighton as a construct out of Bizarro World. While Allston-Brighton is established, easily accessible by the T, affordable, and appointed in such a way that a new Jacobean building looks right in place, the Seaport is brand new, ultra expensive, a challenge to get to by T, and a place where a Jacobean building might look like a sore thumb.
If it’s a little too cold for you today, then you might want to stand by the South End condominium market. That market that is so hot, you’ll think you’re on the Equator.
According to my breakdown of 2013 MLS data, the South End sold an impressive 583 condominiums, up from 547 in 2012, and the most since 610 sold in 2007. Making the transaction total all the more impressive is that there were only 669 listings last year for buyers to choose from while in 2007 there were 893 to pick amongst. This is a clear indication that 2013 buyers were committed location, location, location when choosing their next home.
…And the five nominees for best real estate scene in a movie or a television show are….
#5 – Step Brothers – Will Ferrell + Anything = Hilarity, so when Will Ferrell and his step brother John C. Reilly scheme to sabotage the marketing of their parents home, it’s hilarious.
(To see the other four, click “Continue reading”)
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My featured column in Curbed concerned an interview I did with Alvaro Lima, the Director of Research for the BRA. Lima communicated how Boston’s neighborhoods were changing, becoming more diverse in terms of race, ethnicity, income, and language spoken at home.
Find out how well you know the demographics of Boston’s neighborhoods: Take the quiz in my column!
Massachusetts has become one of the most popular states for buyers from China, so charted the National Association of Realtors (left) in their report: 2013 Profile of International Home Buying Activity.
My column in Banker and Tradesman discussed the increasing amount of Boston condos being purchased by Chinese investors as well as the organizations, Realtors and brokerages who are positioning themselves to profit from this trend.
Where are Chinese investors buying real estate in Boston? How big is that market? Why do they buy in the U.S.? For a copy of the column, subscribe to Banker and Tradesman or email me your request.
My featured column in Curbed was once again devoted to the Hub’s current condo inventory, or lack thereof.
The chart (exclusive to the BRER) tracks the cumulative on-market inventory for the nine markets I cover most (Back Bay, Beacon Hill, Brookline, Cambridge, Charlestown, Jamaica Plain, Somerville, South End, South Boston). Since October 2011, on-market inventory has gone from 1,204 to just 292.
Find out how today’s inventory compares in some of these key markets: Read my featured column!
I don’t think I spent enough time on Harold Brown, the owner of The Hamilton Company, who has 60 years in the business, 5,200 apartments and two million square feet of commercial space. He is the most outspoken member of the panels and never fails to entertain. That’s why he’s worth the price of admission.
Here’s a couple of more quotes from him:
1) “I used to be called a mega-landlord or tycoon. Now they refer to me as an octogenarian.”
2) “Also micro units, I think that is the biggest joke that I have ever heard in my life….Who is going to go in to a studio where the toilet is in the shower stall for $3000 a month when they can rent a studio from us for $16-1700…. So I think people that got micro units better start thinking about combining them for bigger units. That’s my forecast.”
Don’t miss my article in this month’s Boston Magazine, “Lord of the Sties.” The article profiles Boston’s most notorious landlord, “the man who made a fortune renting out the student ghetto.”
Is Anwar Faisal “the subject of undue focus” as his attorney asserted at the September 12th hearing I attended, or is it a public service to write about what is happening in the many buildings he owns in and about Boston, as one caller told me after the article published. Decide for yourself: Get Boston Magazine today or click the link.
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About David Bates
The Bates Real Estate Report is an original content blog about the Greater Boston real estate market, written by a real estate agent who works the condo market and who has a passion for Boston real estate.
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