Outlook On Home Sales Remains Unclear

In the Wednesday, February 24th 2010 Wall Street Journal article “Outlook On Homes Remains Unclear” the authors referenced the recent S&P/Case Shiller home price index report which had “Overall, suggested that the recent positive momentum in the U.S. housing market is gaining further traction and underscores that home prices are continuing to stabilize”.

Robert Shiller, the Yale University economist who cofounded the index that bears his name, called the home-price rebound during the second half of the last year “the most dramatic turnaround” since he began charting home prices in 1987.

Posted by William T. Jebb – Partner
Jebb & Driggin is an Exclusive Buyer’s Agency

Filed under: Boston Real Estate News, Real Estate News, S&P/Case Shiller Home Price Index Report

Mass. home sales, prices rise in Jan.

According to this morning’s Boston Globe article Mass. home sales, prices rise in Jan., Massachusetts home prices and sales surged in January; providing further evidence that the state’s real estate market is on the rise.

The median price for single family homes rose about 10% in January, compared to the same month a year ago; while sales volume increased almost 12% during the same period; marking the 4th consecutive month of double – digit percentage increases in single family home sales.

Condominium prices also rose by almost 17% percent and sales were up about 25% for the same period.

These sales and price increases seem to have surprised some housing specialists.  Hopefully, at least locally, we have seen the bottom in the real estate market and look forward to a strong Spring season.

Posted by Seth J. Driggin – Partner

Jebb & Driggin is an Exclusive Buyer’s Agency

Filed under: Boston Real Estate News, Exclusive Buyers Agent, MA Condo sales up for 2010, MA homes prices up for 2010

Yes, you can buy a home

The article “Yes, you can buy a home” published in the Sunday Boston Globe’s February 21st. edition talks about that although credit is still tight there are six ways to uncover a great mortgage and otherwise make a purchase possible.

Posted by Winnie Henchey – Marketing Director

Jebb & Driggin is an Exclusive Buyer’s Agency

Filed under: Boston Real Estate News, Financing, Homebuyer Market in Boston, Mortgages, Real Estate News

Boston Globe reports “Year’s end lifts sales of condos in Boston”

According to Boston Globe’s Friday, January 29th article see attached link, buyers finally jumped off the sidelines in the last several months of 2009, pushing up both sales and prices.  The number of sales were up about 20% in the 4th quarter compared with the same period in 2008, while median selling prices also increased; by about 4%, for the first 4th quarter gain since 2006.  According to the Globe article, many real estate brokers are reporting a jump in interest as more buyers become convinced that home valuations have hit bottom and many are trying to catch the federal home buyer tax credit before it disappears this Spring.

If buyers are smart, they will also move forward before mortgage interest rates rise.

Posted by Seth Driggin – Partner, Broker

Filed under: Boston Real Estate News, Financing, Home Buyer Advice, Real Estate News

Metro Boston reports “Signs of life for Mass. housing”

In the Metro Boston news today it was reported that the MA Housing market is picking up
Signs of life for Mass. housing

Posted by Winnie Henchey – Marketing Director

Filed under: Boston Real Estate News, Boston Real Estate News

Boston’s Seaport District – Your New Home?

As Russia Wharf hit its half-way mark for completion, The Seaport District could be the next big boom that Boston has been waiting for.

Russia Wharf is an 854,000 square-foot mixed-use building. By 2011, there are a proposed 65 new residential housing units being developed as well as 60,000 square feet of retail, restaurant, and civic space. This development may ultimately tie in Boston’s Seaport District to downtown Boston.

If you have been considering this area as a place to live, we can provide you with all the information you need to make an informed decision on the area that is right for you. 

Search for properties in Boston’s Seaport District.

Area Information:

The Seaport District has emerged as a vibrant waterfront neighborhood within walking distance of downtown Boston.  Located across the Fort Point Channel from the Financial District, the Seaport District offers loft-style residences and full-service condominiums in short proximity of trendy restaurants, museums and shops.  The Museum of Contemporary Art is one of Boston’s most popular museums and it is an architectural masterpiece overlooking the harbor.

Nearby, the newly renovated Boston Children’s Museum offers entertainment and education to children and adults alike.  The new, state-of-the-art Boston Convention & Exhibition Center draws thousands of visitors to world-class conventions each year and is the area’s centerpiece of activity on most nights.

With several new residences and retail centers slated for construction, the Seaport District is earmarked to become one of Boston’s most desirable places to live.

Filed under: Boston Real Estate News, Boston, loft-style residences, Russian Wharf, Seaport District, ull-service condominiums

In Boston, Homes Prices as Good as it Gets

According to an article in this morning’s Boston Globe, the Federal Reserve has just released their most recent survey on the nation’s economic activity, which notes that most businesses surveyed expect a recovery in the New England economy next year.

The article also notes that homes sales continue to rise across New England, boosted by home buyers taking advantage of the $8,000 first-time home buyer tax credit. While prices continued to drop in most local markets, the September median price for Boston was up 6 percent from a year earlier.

If the region’s economy does improve next year, it is my bet that home prices and mortgage interest rates will rise. Based upon a combination of lower or stable prices and historically low mortgage rates, homes are as affordable now as they are likely to be for some time.

Filed under: Boston Real Estate News, Financing, National Real Estate News, Boston Home Prices, Boston Real Estate, First Time Home Buyer Tax Credit, Home Buyer Advice, Mortgage Rates, Real Estate Search

Foreclosures Still Falling

“Foreclosures Still Falling in Massachusetts” so says the headline of an article in the Boston Globe, October 21, 2009. According to information just released by the Warren Group, a Boston company that tracks Massachusetts real estate data, foreclosures between January and September of this year dropped nearly 29.5% to 6,778 compared with the same period last year. We may not be completely out of the woods yet, but the market seems to be improving.

Read the full-length article.

Filed under: Boston Real Estate News, Boston Real Estate, Foreclosure, Warren Group

Bryant Back Bay Auction Report

This past Saturday, in about 40 minutes time, buyers purchased at auction about $20 million of up scale condo units at the Bryant Back Bay complex on Columbus Avenue. It was the first auction sale in an upscale Back Bay residential complex in decades.

The average price was $1.4 million per unit or about $671 per square foot, according to the Boston firm that ran the auction. Prices were as low as 40% below the last list price, with an average of about 25% below the last list price.

Some viewed the sales as disappointing because prices were not higher, compared to previous list prices. Others were impressed that there were that many buyers for high end homes on the South End/Back Bay border and called it a vote of confidence in the market.

We believe that the downtown condo market is improving and continue to believe that this is a good time to consider purchasing a home.

Filed under: Boston Real Estate News, Back Bay Real Estate, Boston Real Estate, Bryant Back Bay