Boston Real Estate Appraisal

No question things have changed a bit in the past few months, but when I wrote in August that foreclosures in some of the city’s tonier neighborhoods could be right around the corner, I didn’t mean 60 days around the corner.
And yet there they are, foreclosures in Beacon Hill (actually, this is in Dorchester) and Back Bay, plain as the Golden Dome or the Pru. So, distressed owners and would-be buyers, battling to stay on top of your payments, or trying to find some way to squeeze a new payment in, may I humbly suggest making a lifestyle adjustment?
I’ve heard about the trauma downgrading your spending can incur, but let’s be realistic: either way, you’ll lose the inflated sense of wealth—but if you don’t get into a property you can actually afford, you’ll be giving up your home and credit rating, too.
So say you did it to be edgy. […]
More can be found here.

Tags: Back Bay, Beacon Hill, Somerville by bomber
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I saw an interesting post today on blog.redfin.com.
The first paragraph is here:

O noes! Seems like some CNN editors need to look up the definition of “hubris,” or perhaps “market volatility”.  Because that is definitely what we have here: a market with no compass.
Irresponsibly low interest rates–which drove investment firms into the subprime markets in the first place, if you’ll recall–continue to force people to put their money somewhere other than bank accounts and Treasury bonds.
But scared people with money are almost as bad as scared people with guns; instead of stimulating the economy, panicked investors are tearing it apart. Today’s trade volume: 8,716,329,600, four times average.
Predictably, the response to this has been nationalization, worldwide, and on a broad scale. And highly regulated, nationalized economies are notoriously inefficient. Not the thing you want to see if you’re hoping to regain the 30-some-odd percent losses your portfolio has incurred over the past few months. Looks like that bailout bill we “needed” to pass […]
Visit the site to keep reading…

Tags: General, Back Bay, Beacon Hill by bomber
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cosmo.catalano made a great post today on blog.redfin.com.

Maybe I listen to too much WBUR (although, as someone who writes about and works in Cambridge, I suppose I ought to consider that impossible), but I think Radio Boston host David Boeri dug up a great soundbite from a Dorchester shopper on today’s Morning Edition.
Customer: I’ve been planning this kitchen for four-to-five years, so I saved for my appliances.
David: And your decisions now aren’t affected by your, by whats going on…
Customer: No.
David: …in the world around…?
Customer: Because it’s gonna get better. You just have to be patient. It’s gonna get better, and at least I have my good appliances.

So really, I don’t think I have to say anything more than that. Nice appliances, people. In these times of economic uncertainty, they matter. These open houses have them. The time to buy is now.
249 Beacon St #3
Back Bay, MA 02116
2 beds, 2.5 baths
2,108 Sq. Ft.
$1,599,000
Sunday, October 5, 2008 2:00 […]
Visit the blog for the rest of this post…

Tags: Back Bay, Beacon Hill, Cambridge by bomber
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Just when you thought it was safe to go back into the market…
It’s been lurking just below the radar for months, the idea that the credit crunch will begin to claim some decidedly prime-rate borrowers.  Thus far, most collapsed mortgages have been those that should have never been offered: NINAs, NINJAs, and other no-doc loans offered to people with shabby credit histories.
But similar no-doc loans, called Alt-A loans, were also offered to people with good credit.  They brought in lower interest rates, and so never inspired same sort of feeding frenzies as the subprimes (remember, this was back when housing prices were “guaranteed” to double each decade, thus rendering money loss impossible), but were issued none the less.
So after 3-5 years of ticking,  these so-called Alt-A time bombs are set to explode in the next couple months, because Alt-A borrowers’ good credit won them longer grace periods before their their […]
Read the full post here.

Tags: General, Back Bay, Beacon Hill by bomber
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Hello, Boston!
I’m coming to you live from my favorite roof deck in Beacon Hill, enjoying the hospitality of Goutam Jois, a local attorney and member of the mayor’s 1 in 3 Advisory Council.  
As a fashionable man-about-town, he’s decided to give me some of his own thoughts on a few local properties that have been on the market for over 80 days.  Perhaps his insights will be a bit sharper than mine.
80 Mt. Vernon St. #8
Beacon Hill, MA 02108
2 Bed, 1 Bath
704 sq. ft.
$849,000
Goutam: “Plus: it’s near La La Rokh. IDK, though. Nice roofdeck, but I don’t know what the view would be. Pro, good space, but second bedroom is an office, for the kid’s crib, at best.” 
8 Lindall Pl #1
Beacon Hill, MA 02114
1 Bed, 1 Bath
704 sq. ft.
$849,000  
Goutam: “Pro: good price for square foot, pro: good size for a one bed. Con: it’s in the 02114 Beacon Hill, not […]
For the full post click here.

Tags: Back Bay, Beacon Hill by bomber
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cosmo.catalano did a great write-up today on blog.redfin.com.

Whatever you do, don’t say you’re sick of the rainy weather. First of all, it’s Boston; you’ve seen worse before and you’ll see worse again. Second, you’re gonna have to get used to it—for the next week at least.
So what is there to do in this weather, other than getting to know the poor schlub in the basement apartment while you’re lending him your Wet-Vac? Well, you could hop the T and head out to Somerville, where the residents say “it’s good for the plants.”
Or you could carefully trek over the Longfellow to Cambridge, and watch Prius drivers curse their lack of ground clearance, as they bog down in the flood and short out. Or head to the enormous climate-controlled Prudential Mall and try to boost the flagging economy with a little consumer spending.
Or you could move somewhere that allowed you all these rainy-day opportunities. Maybe that’s why Bostonians aren’t […]
For more on this click here.

Tags: Back Bay, Beacon Hill by bomber
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blog.redfin.com did an interesting post today.

Ah, flipping. The very word conjures fond memories of 2002, when granite countertops and a “for sale” sign were all it took to realize a 30% ROI.
But those days are as gone as the “Reverse the Curse Sign” and renovation fever, right? I mean, have you seen the lastest issue of Newsweek? It says “recession” right on the cover.
As it turns out, though, things might not be so grim. Hoping to spark a stagnant market, the White House repealed a statute designed to stop flipping, which means distressed properties are eligible to be sold for government loans as soon as they’re purchased—no more 90-day waiting period.
And downtown Boston is apparently booming; in fact, a few condo buyers at Back Bay’s Mandarin Oriental are looking to turn their properties around before the building’s even open. Could this really be the return of the flip?
Value investors would say no, and look […]
For the full post go here.

Tags: Back Bay, Beacon Hill by bomber
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cosmo.catalano wrote an interesting post today on blog.redfin.com.

24 hours later and I still can’t believe it. A 24-point comeback in under 24 minutes of play. #24 was shut down. Did I mention the C’s only had 24 wins last season?
Talk about an epic way to celebrate David Ortiz’s first day as a US citizen (he’s #34, and 32 years old, though. Kinda blows my whole “24″ pattern. Ah well…)
Anyway, with new comeback records and new US citizens, it sounds like the perfect time to toss out some new listings.
254 Comm Ave, #2
Back Bay, MA 02116
2 beds, 1 bath
SQ.FT.: 1,080
$895,000
Time on the Market: 2 days
127 Beacon St #42
Boston, MA 02116
1 bed, 1 bath
SQ.FT.: 540
$429,000
Time on Market: 2 days
25 Chestnut St #5/6
Beacon Hill, MA 02108
3 beds, 2.5 baths
SQ.FT.: 2,142
$2,195,000
Time on Market: 2 days
Getting as Far from Bad Mortgages as Possible
Sweet Digs Boston Home

Check out the complete story here.

Tags: Back Bay, Beacon Hill by bomber
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