Listings Around the USA

We somewhat regularly try and feature listings outside the Boston market for those Buyers visiting our blog who are thinking of a move outside the state of Massachusetts. We’ve got 3 properties to feature today, all with their own uniqueness.

50 Heather Drive in Rye, New Hampshire is a custom built estate in a country club community located along the shores of the Atlantic Ocean. New Hampshire provides tax-free living, and this newly built 4 bedroom home with multiple outdoor living spaces is great for entertaining – listed for $3.6 million.

50 Heather Drive in Rye, New Hampshire

1505 Pearl Street in sunny Boulder, Colorado is a new 22-unit loft-style condo development at the foot of Boulder’s Pearl Street walking mall. The development is poised for a Summer 2008 completion. Prices range from $528K to $1.4 million. For more details, you can contact the Colorado Home Finder team at 800-231-9153.

 

328 W. 200 S. #505 is a Salt Lake City downtown loft that boasts urban opulence. The two-bedroom two-bathroom 1,715 square foot unit offers soaring ceiling, custom chandeliers, two balconies, above and below ground parking, extra storage, and high end finishes throughout. For more information, you can contact the Cody Derrick Team in Salt Lake City at 801-326-8971. Listed for $635,000.

328 W. 200 S. #505 Salt Lake City downtown loft

Investment and Vacation Home Buyers Report

Back in February, we discussed the increased activity of Europeans interested in purchasing Boston real estate (see Europeans Buy Boston Real Estate), and recently, the National Association of Realtors released a survey discussing investment and vacation home purchases across the entire US, much of which chronicles the influx in foreign investment trends.

In spite of a decline in the total vacation and investment home sales, second-home sales accounted for 33% of transactions in 2007. Sales of vacation properties fell 30.6% to 740,000 in 2007 compared to the prior year which boasted a record 1.07 million, while investment-home sales fell 18.1% to 1.35 million (down from 1.65 million in 2006), according to NAR’s new Investment and Vacation Home Buyers Survey report. During this same time, primary residence sales declined 10% to 4.34 million in 2007 from 4.82 million in 2006. NAR Chief Economist Lawrence Yun cited the disappearance of speculators from the market as the reason for the decline, leaving the market to serious buyers. The disruption in the mortgage market and tightening of credit during the second half of 2007 also impacted this market sector, but lifestyle factors and strong demographics (including a peak of population in their prime years for buying recreational property), point to a positive outlook for the vacation home market. While U.S. buyers may be taking a wait and see attitude, foreign buyers are taking advantage of the weak U.S. dollar and are propping up second-home sales. Conversely, Inman News reports that U.S. buyers are looking abroad for their second home investment in such markets as Costa Rica, Belize or Mexico, taking advantage of newer resort markets where prices are still relatively low and the U.S. dollar can buy more than at home.

Given that the report chronicles a summer 2007 time period, the data is relatively old, however, the report provides insight into some high level buying trends that are interesting in and of itself.

Download (297 KB) the 2007 report on international homebuying activity in the United States.

Tips for Selling Your Boston Condo

The warm weather has Boston condo owners poised to put their units up for sale. Our recent survey shows that 32% of respondents have their condo listed for sale now, or plan to sell within the next several months (if you are a Boston condo owner, take our Reader Poll).

So if you are selling soon, what will make your unit stand out in the crowd, here are a few tips.

Photos – wow, first on the list, photos. That’s right, most Buyers decide if they want to visit a condo after looking at the first few available photos, here’s your chance to make your property shine.

Exposure – Thousands of potential Buyers visit us here at the Boston Condo Blog every week, and with over 80% of home buyers starting their search online, talk to us about how we can provide you the exposure your condo needs.

Pricing – it’s obvious that price is important, but what’s your strategy? A thorough analysis of what’s realistic given your condo’s location, style, amenities, etc. is crucial. Give advanced thought to the impact of multiple price reductions on a condo because it wasn’t priced right in the beginning.

Contact us to discuss the listing of your Boston condo.

Rare Boston Albert A. Pope Building Condos Available

One of the most sought after buildings in the northern part of the South End is the Albert A. Pope Building, a 25-unit boutique luxury development with the high-end Mistral Bistro on its ground floor – some refer to this development as the Mistral Condos.

Albert A. Pope Building

As of this week, there are now two units available in the building, including one corner unit with multiple exposures. Unit 603 is a 1,508 square foot two-bedroom two-bathroom listed at $1,049,000 ($695 per square foot), while the multiple exposure unit 404, is a 1,873 square foot two-bedroom two-bathroom listed at $1,350,000 ($720 per square foot). Both units include one deeded garage parking space.

Albert A. Pope Building Unit 404

Albert A. Pope Building Unit 404

Readers recently inquired whether the Clarendon Back Bay would eventually block the view of the Hancock Tower from the Pope building, and by the looks of the below picture of the Clarendon job site taking from the Pope Building, the answer to that question is, yes – eye level views will be blocked, but you will obviously still see the Hancock Tower in the background above the 33 story Clarendon.

View from Pope Building towards Hancock Tower

Boston Condo Blog Reader Poll

With the Spring selling season getting into full swing, we wanted to get a feel for whether or not Boston condo owners are poised to sell their units before Fall of this year. If you’re a Boston condo owner, take our Boston Condo Blog Reader poll below. Inventory typically picks up in the spring and summer months anyway, but let’s see what Bostonians are really saying.

Internet Provides Incorruptible System?

A new restaurant in New York City has ditched the phone and adopted a unique reservation system: the Internet. Momofuku Ko, a new French Asian restaurant (perhaps similar to our own new French Asian house, see Banq Restaurant) by famed chef David Chang, runs a no favor or hook-up gathering place.

The only way to land a spot is to log on to Ko’s web site, create an account, register with a credit card and take a shot at finding an empty space on a bingo-like grid. Seats are released at 10 a.m. everyday for the current seven-day period.

It wasn’t the intent to make people frustrated,” Chang said. “It was just something we thought would be easier. Why would we need a phone? People have the Internet. At the end of the day, it’s a silly, silly reservation system. But we have to be straight up. We are trying our best to make some system work that is not corruptible.”

Are people scalping reservations? Yes. But, Chang is not a fan of that,”I … loathe reservation scalpers,” Chang said. “I’d take a bat to their head if I could. You can quote me on that.”

Is this action by Chang a forerunner to relying exclusively on the Internet here in Boston, including other industries, such as Boston real estate? Time will tell.

The Modern South End

It’s been a while since we touched base with the Modern South End loft-style condo development on the border of the South End and Roxbury. What’s left at this 25-unit move-in ready Dennis Duffy design? 12 units according to the Boston MLS.

That’s right, 12 units, priced from $489,000 to $1,495,000 and ranging in size from 899 to 2,592 square feet. Mainly 1 bedroom 1 bathroom loft-style condos remain, along with three 2 bedroom 1.5 bathroom units (starting at $699K price point), and the then you have the grand Skyliner penthouse with 3 bedrooms and 2.5 bathrooms. Parking, except with the Skyliner, is not included in the listing price, but available for sale from $29K-49K.

Our Featured Open House take places Sunday, April 13, 2008 from 11:00 AM to 12:30 PM at the Modern, located at 255 Northhampton Street, one block west of Massachusetts Avenue, between Columbus Avenue and Tremont Street.

Modern South End

Clarendon Back Bay Condos hit Boston MLS

The all new under construction ultra luxury Clarendon Back Bay condo development released its first units to the Boston MLS today. We’ve been receiving many inquiries on pricing at this property, and have toured the sales center to get the inside scoop.

Included in the mix of units that hit the Boston MLS today are the following:

  • 589 square foot studio on the 18th floor – $695,000 ($1,179 per square foot)
  • 765 square foot 1 bedroom 1 bathroom on the 15th floor – $775,000 ($1,013 per square foot)
  • 1,229 square foot 2 bedroom 2 bathroom on the 15th floor (1 deeded parking space) – $1,575,000 ($1,281 per square foot)
  • 1,371 square foot 2 bedroom 2 bathroom on the 20th floor (1 deeded parking space) – $1,635,000 ($1,192 per square foot)
  • 1,878 square foot 3 bedroom 3.5 bathroom on the 20th floor (1 deeded parking space) – $2,500,000 ($1,878 per square foot)
  • 2,495 square foot 3 bedroom 3.5 bathroom on the 25th floor (2 deeded parking spaces) – $3,950,000 ($1,583 per square foot)

Luxury condos will start on the 15th floor of this 33 story tower across the street from the Hancock Tower. HOA fees have not yet been announced. The Clarendon sales team will host a Broker Open on Tuesday, April 15, 2008 from 12:00 PM to 2:00 PM at their 14 Newbury Street showroom. This will give real estate agents a chance to see what this amazing property will have to offer – the only true high rise condo development in the Back Bay.

For more information about the Clarendon, including exclusive Buyer representation, please contact us.

Financial District Broadluxe Auction 2008

As you know, Broadluxe, a 44-unit condo development in the heart of the Financial District of Boston has gone through a roller coaster of a ride over the past several years. From full steam ahead to foreclosure (see Broadluxe Financial District Condo Update), and now, what looks like auction.

We spoke with our contacts at TD Banknorth (current owner of the entire development after it was foreclosed upon) regarding Broadluxe, and they have confirmed that construction is near completion, and units at 105 Broad Street will go to auction in the near future.

We’ll bring you more information here at the Boston Condo Blog as it becomes available.

Broadluxe

The Clarendon Back Bay Says Me Too!

With the Bryant on Columbus steaming towards completion several blocks away (see Bryant on Columbus Now a High Flyer), the Clarendon Back Bay was feeling left out. Not to worry, as construction at the Clarendon job site seems to be speeding forward, as evidenced by the exclusive construction photos below.

The Clarendon Back Bay is currently aiming for a late 2009 opening. The 33 story tower will leverage a unique construction method whereby crews will be building up at the same time crews dig the garage out below (a construction method called “top down”) – in essence, traveling twice as fast as what we have seen with other condo construction sites lately, where a significant amount of time is spent on the garage dig before the condo development can actually come out of the ground and head upwards.

Clarendon Back Bay

Clarendon Back Bay