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Buying And Selling In Boston

With So Many Qualified Boston Buyers, Why Are So Many Renting?

Buy or Rent?

According to an August Zillow Report, 18.2% of renters in Boston can afford to buy a home in the city. That’s 2% higher than the national average. Affordability was determined by combining a sufficient credit score and an annual income that would cover the median price of a home, $394,400 in Boston. Nationally, only 14% of on-market renters would actually be able to afford a home in the city they live in. 

Boston ranked number 7 overall for highest percentage of renters who are qualified to buy — so why aren’t they buying?

Zillow Chief Economist, Dr. Svenja Gudell notes that “when faced with hurdles of high prices and low inventory, first-time home buyers are renting longer than ever before, even if they are qualified to buy.”

According to an October Zillow Report, the United States has seen 51 straight months of increasing home prices. In the past year, home prices saw a 6.2% increase — which is right on par with the Boston market which saw a 6% increase. Rent prices also saw an increase of 3.3% in the Boston metro area and 1.4% nationally. 

This trend, combined with the 21st consecutive month of annual inventory declines is only making it more difficult for renters to buy. To make matters worse, Boston had the largest inventory drop of the 35 largest US metro areas. Compared to this time last year, there are 25.8% fewer homes for sale, compared to 5.7% nationally. 

Dr. Gudell also noted that “the housing market has been favoring sellers for the past few years.” Because there is less inventory and more demand from qualified buyers, sellers are able to sell their homes with less effort for a higher price. But there is hope! Dr. Gudell is optimistic that the market will see a “meaningful swing in favor of buyers within the next two to three years.”

Homeowner Tips: The Advantages of LED Bulbs


 

So, you haven’t changed the lightbulbs in your home to LED, yet. Here’s the quick breakdown of why you should!

Advantages of Using LEDs:

- LEDs have range from a rated life of 25,000 up to 50,000 hours.
-They are approximately 50 times longer than a typical incandescent, 8-10 times longer than a typical CFL, and 20-25 times longer than a typical halogen. 
-They produce very little heat.
-They DO NOT emit UV and have very little infrared light.
-They DO NOT contain mercury.
-They are resistant to vibration & shock.
-They can be compatible with dimmers.
-They are ideal for operation under cold outdoor temperature settings.

 

Calculating the Lifespan of LEDs:

-50,000 hours powered 4 hours/day = 34 year lifespan
-50,000 hours powered 8 hours/day = 17 year lifespan
-50,000 hours powered 24 hours/day = 6 year lifespan

 

For more information / tips on Homeownership:

Paul Santucci
Somerville Lofts
617.694.0004

East Boston's Upcoming Seville Boston Harbor Condos Ready for Summer 2016

I had the pleasure of visiting The Seville Boston Harbor, a 66 units in a new construction building in East Boston, slated for occupancy in August 2016. 

Prices will range from $305,000 for a 468 Studio with private outdoor space (No Parking) to $705,000 for a 2 Bed + Den (there's a reservation on the most expensive unit already!) with Garage Parking & private outdoor space. Average Price Per Square Foot is $525.

Ceiling height is about 8' with certain units peaking at 8'6".

Units will feature: 

- 7" Wide Plank Hardwood Flooring Throughout
- European Style Kitchen Cabinetry
- Stainless Appliances
- LED Lighting Package 
- High gloss wood bathroom cabinetry ?
- Gas Slide In Range ?
- French Door Refrigerator ?
- Over Range Microwave ?- Panel Front Dishwasher ?
- Quartz Countertops ?
- Glass Shower Enclosures ?
- Designer Bath Fixtures ?
- Washer/dryer hook-ups

 

Building Amenities Include:

- Dedicated Parking for Select Units
- HUGE Roof Deck
- Fitness Center
- Large Capacity Laundry
- Bike Storage
- Pet Washing Area
- Electric Car Charging
 

East Boston is about as "hot" as it gets in terms of desirable Boston areas. Sure, the Seaport / South Boston is the hottest, but with a bustling multi-cultural neighborhood, easy access to downtown via the Blue Line / Express Buses / Zip Car / Tunnel, green space, gorgeous architecture, and an ever changing waterfront / Piers Park area, "Eastie" keeps buyers in the city with a softer landing for pricing. The Seville is the first new construction, but many more are on the way, and also including the $20 Million Loftel (hotel) on Orleans Street.

For More information and a tour, contact:

Paul Santucci / Director of Boston Lofts

617.694.0004

 

Seville Boston Harbor Kitchen

Roofdeck Seville East Boston

Seville Boston Bathroom Luxury

 

 

 

319 A Street - Seaport District Boston's Newest Lofts Ready for 2016

 

The Seaport District's newest loft-style condo building, 319 A Street is a former "turn-of-the-century" leather goods warehouse reborn as luxury Boston lofts.

Boston Residential Group - behind such buildings as 360 Newbury - has adapted this brick-and-beam gem into 4 top floors of residential condominiums and a ground floor of retail and restaurant space, ready for occupancy in 2016.

Units range from 450 Square Feet to 1,052 Square Feet (Studios to Two Bedrooms), starting at $499,000.
The developer has made significant efforts to sustain the building's original charm and details (enameled brick, studded barn doors, chevron tiles), but includes sustainable & energy efficient features such as efficient lighting and recyclable materials throughout.
319 A's units will be utilize the factory-sized windows as the focal point to brighten the modern fits and finished throughout (zebrawood cabinets, honed black granite countertops).
Common amenities include a covered drive-through and fantastic common roofdeck with incredible views.

A Street is in the heart of the Fort Point Channel, which bridges the ever-popular South Boston's Broadway neighborhood and the true Seaport District. Local restaurants include: Sportello, Menton, Lucky's Lounge, Barlows, Blue Dragon, Row 34, Tavern Row, Drink, Bastille Kitchen. Other area highlights include: Boston Children's Museum, World Trade Center, Institute of Contemporary Art, and several retailers. 

For More Information, Contact:

Paul Santucci
Director of Boston Lofts
617-694-0004
paul@bostonlofts.com

New to Market in Boston: Value and True Loft Living at American Brewery Lofts

With Boston Real Estate home prices still soaring and loft-style homes in Boston at the forefront of that wish list (the past month's average price per square foot sold for lofts in the South End was $796 and lofts in the Seaport trading at $631 per square foot), it's becoming harder for buyers to find a true brick-and-beam loft in any Boston zipcode under $500,000.

New to the Market is a fantastic TRUE Loft at the Amercian Brewery Lofts in Jamaica Plain under $500,000 and $465 per square foot!

18' Ceiling height, HUGE factory windows, acid-stained concrete floors, elevated loft master suite, modern kitchen with kitchen island / stainless steel appliances / smart storage / pantry, 2 full bathrooms, custom lighting and ceiling fan, forced hot air heating and central AC, all within a wonderful professionally managed building with common courtyard w/grill, bike storage, basement storage, HEATED GARAGE PARKING, steps to Public Transportation. 

Size: 1008 Square Feet / 1 Bedroom / 2 Full Bathrooms

Condo Fee: $569 / month. Includes Heat, Hot Water, etc

PRICE: $469,000

MORE INFORMATION: CLICK HERE

Open Houses: Saturday Sept 19 Noon - 2:00, Sunday Sept 20 Noon - 2:00

For More information and a Private Showing, contact:

Paul Santucci
Director of Boston Lofts
617-694-0004

American Brewery Loft

American Brewery Loft Kitchen

American Brewery Loft Livingroom Boston

 

 

Two Bedroom Brick-And-Beam Loft in Boston's Dorchester at DNA LOFTS

 

DNA Lofts in Dorchester is a truly unique conversion of a former printing press into modern and creative live-in loft spaces. The 3 story building at 944 Dorchester Avenue at the tip of "DOT" consists of 60 residential units with 2 elevators, garage parking, an impressive roof deck, a courtyard and an exterior parking lot. These loft style homes are available in a number of different floor plans, they all have multiple oversized double-pane windows, bamboo or polished concrete floors, high ceilings, exposed beams, top of the line kitchens with black granite tops and stainless steel appliances. Some units are built with mezzanine-level bedrooms. When under construction each unit was given the opportunity to customize with the owner's taste in mind, hence the moniker DNA. Great views, walking distance to the Red Line, the beach and area restaurants are just some of the extra amenities you'll enjoy at DNA Lofts.

Penthouse Loft 46 - A Corner Loft with Sunny, Southern Exposure is NEW to MARKET, boasting:

- 983 Square Feet

- Furnished w/ Quality Pieces

- Open Living / Dining / Kitchen Floor Plan

- 2 Large Bedrooms w/ Ample closets 

-1 Full Bathroom (Subway tiled full size shower - Toto / Kohler Products)

- Walk-in Closet 

- Oversized Sliding-door Armoires

- Gleaming Bamboo Wood Floors

- Original Wood Beams / Ceilings from "Factory Era"

- In-Unit Washer / Dryer

- 1 Parking Space

- GE Profile - Stainless Steel Appliances 

- Stone Countertops  

- Six, 6 foot tall windows, Southern Exposure

- Central AC

- Forced Hot Air 

Bright & Modern, this is the ultimate in Boston Lofts Living. 

Available November 1st, 2015

$2900 / Month 

For More Information on Penthouse 46 and DNA / Dorchester Lofts, visit www.DorchesterLofts.com 

For a Private Showing, contact:

Paul Santucci
Director of Boston Lofts
paul@bostonlofts.com
617-694-0004

DNA Lofts Rental Dorchester

DNA Lofts Dorchester MA

DNA Lofts Roofdeck, Boston MA

Boston Area's Newest And Most Affordable Lofts - MicroLofts in Chelsea

NEW TO MARKET MicroLofts in Chelsea!

Amazingly affordable new lofts on the Chelsea waterfront at Admiral's Hill. 

 

Own a new loft for less than renting! Overlooking a marina, above a co-wokring space, next to a waterfront park and steps to a microbrewery, these 9 modern, intelligently desinged & flexible spaces boast:

 

- Ikea-designed Storage

- Stainless Steel Appliances

- Granite Countertops

- Built-in Murphy Beds

- Recessed Lighting

- Wide Plank Flooring

- High Ceilings

- Assigned Parking

- Private Decks w/Waterviews

- Low Condo Fees

 

UNIT SAMPLES:

 

$200,000
286 Square Feet / Deck
$225,000
315 Square Feet / Deck
$300,000
447 Square Feet / Deck

 

 

For a Private Showing &

More Information:

 

Paul Santucci 

Director of Boston Lofts
617.694.0004

paul@bostonlofts.com

 

 

1850 Lofts in the South End, Boston Jumps to $700+ Per Square Foot

If you're searching for an indicator of how the South End's home sales remain incredibly strong in this market, you don't have to look any further than the lofts at the 1850, at 90 Wareham in the SOWA District.

Here's the Sales Stats from the past few years - check out how price per square foot jumped from $463 in 2011 - 2012, to $704 for this year's two sales!!

Sold Data 1850 Lofts 2015: Number of Lofts Sold: 2 Average List Price: $549,000 Average Sale Price: $542,500 Average Days on Market: 150 Average Price Per Foot SOLD: $704

Sold Data 1850 Lofts 2014: Number of Lofts Sold: 7 Average List Price: $465,834 Average Sale Price: $476,501 Average Days on Market: 23 Average Price Per Foot SOLD: $558

Sold Data 1850 Lofts 2013: Number of Lofts Sold: 4 Average List Price: $436,475 Average Sale Price: $439,750 Average Days on Market: 47 Average Price Per Foot SOLD: $569

Sold Data 1850 Lofts 2011 - 2012: Number of Lofts Sold: 7 Average List Price: $364,006 Average Sale Price: $359,034 Average Days on Market: 51 Average Price Per Foot SOLD: $463

* all information is gathered through MLS

The lofts at 90 Wareham Street are one of South End's most unique and sought-after loft buildings.

Located in the vibrant SOWA district and a short walk to the Silver Line, this complex consists of a combination of inspired & stylish renovated factory-style  "brick-and-beam" units that have been thoughtfully built with open floorplans, oversized factory windows, exposed original elements, hardwood floors & beautiful kitchens and baths. Parking is also an option, as some units have been assigned a deeded outdoor space.

For more information about the 1850, please visit: www.The1850.com

For more information about South End Lofts, visit: www.SouthEndLoft.com

or contact Paul Santucci, Director of Boston Lofts, paul@bostonlofts.com, 617.694.0004

1850 Lofts South End Boston

The Cool but Warm Brick-and-Beam Style of the South End's 1850 Lofts

 

South Boston & Seaport Lofts Market Update 2015

Here's the latest data for South Boston / Seaport Loft Sales through 6/23/2015

2015 LOFT SALES

South Boston / Seaport District: Number of Lofts Sold: 24 Average List Price: $751,529 Average Sale Price: $750,104 Average Days on Market: 37 Average Price Per Square Foot: $632 Most Expensive Loft SOLD: $1,485,000 Least Expensive Loft SOLD: $385,000

Boston (includes all neighborhoods): Number of Lofts Sold: 159 Average List Price: $711,915 Average Sale Price: $709,925 Average Days on Market: 52 Average Price Per Square Foot: $614 Most Expensive Loft SOLD: $3,000,000 Least Expensive Loft SOLD: $272,000 ________________________________

2014 LOFT SALES

South Boston / Seaport District: Number of Lofts Sold: 64 Average List Price: $712,779 Average Sale Price: $696,992 Average Days on Market: 41 Average Price Per Square Foot: $587 Most Expensive Loft SOLD: $1,945,000 Least Expensive Loft SOLD: $257,000

Boston (includes all neighborhoods): Number of Lofts Sold: 320 Average List Price: $673,104 Average Sale Price: $665,753 Average Days on Market: 49 Average Price Per Square Foot: $559 Most Expensive Loft SOLD: $5,000,000 Least Expensive Loft SOLD: $194,000

________________________________

2013 LOFT SALES

South Boston / Seaport District: Number of Lofts Sold: 77 Average List Price: $583,062 Average Sale Price: $574,603 Average Days on Market: 44 Average Price Per Square Foot: $534 Most Expensive Loft SOLD: $1,945,000 Least Expensive Loft SOLD: $257,000

Boston (includes all neighborhoods): Number of Lofts Sold: 359 Average List Price: $618,741 Average Sale Price: $609,613 Average Days on Market: 46 Average Price Per Square Foot: $538 Most Expensive Loft SOLD: $4,150,000 Least Expensive Loft SOLD: $186,000

For more information on Seaport & South Boston Lofts, visit www.SouthBostonLoft.com

or contact Paul Santucci, Director of Boston Lofts, 617.694.0004 paul@bostonlofts.com

fp3 loft boston

The most expensive loft SOLD in 2015 in the Seaport District / South Boston through 6/23/15. 1800 SF 3 bed at FP3

 

South End Lofts Sales - Prices Jumped to $700 Per Square Foot in 2014

Here's the Market Snapshot for Lofts Sold in the South End, Boston 2012 - 2014, in comparison to the entire Boston Loft's Market. The average price per foot in the South End for Loft Sales jumped from $554 in 2012 to $696 in 2014:

2014 LOFT SALES

South End: Number of Lofts Sold: 65 Average List Price: $735,806 Average Sale Price: $731,717 Average Days on Market: 41 Average Price Per Square Foot: $696 Most Expensive Loft SOLD: $2,700,000 Least Expensive Loft SOLD: $235,000

Boston (includes all neighborhoods): Number of Lofts Sold: 320 Average List Price: $673,104 Average Sale Price: $665,753 Average Days on Market: 49 Average Price Per Square Foot: $559 Most Expensive Loft SOLD: $5,200,000 Least Expensive Loft SOLD: $194,000

_______________________________

2013 LOFT SALES

South End: Number of Lofts Sold: 80 Average List Price: $672,674 Average Sale Price: $670,405 Average Days on Market: 35 Average Price Per Square Foot: $622 Most Expensive Loft SOLD: $1,653,000 Least Expensive Loft SOLD: $195,000

Boston (includes all neighborhoods): Number of Lofts Sold: 359 Average List Price: $618,741 Average Sale Price: $609,613 Average Days on Market: 46 Average Price Per Square Foot: $538 Most Expensive Loft SOLD: $4,150,000 Least Expensive Loft SOLD: $186,000

________________________________

2012 LOFT SALES

South End: Number of Lofts Sold: 67 Average List Price: $655,573 Average Sale Price: $643,267 Average Days on Market: 85 Average Price Per Square Foot: $554 Most Expensive Loft SOLD: $2,495,500 Least Expensive Loft SOLD: $165,000

Boston (includes all neighborhoods): Number of Lofts Sold: 350 Average List Price: $580,297 Average Sale Price: $561,326 Average Days on Market: 93 Average Price Per Square Foot: $480 Most Expensive Loft SOLD: $2,560,000 Least Expensive Loft SOLD: $105,000

For More Information on Lofts in the South End, contact: Paul Santucci: paul@bostonlofts.com, 617-694-0004 www.SouthEndLoft.com

*All information gathered from MLS

Fay Street South End Loft

Current Loft for Sale at 40 Fay St, South End, Boston - $585,000