Archive for the 'Buying' category

As a longtime resident with great insight to the history and culture of South Boston and its surrounding neighborhoods I offer knowledge of transportation information, attractions and amenities within the community. I understand that each individual must work within the confines of price, location, amenities and other liming factors and the importance of helping to create the ideal match of home and homeowner. Whether you are looking to buy, sell, lease or looking for a professional agent to show your property and run a background check (credit, employment and letters of recommendations from previous landlords).

I also offer a unique insight into the investment property niche with an educational background in marketing and finance having worked side by side with some of the most accomplished investors in this market.

While being associated with a firm, Capital Residential, that is constantly establishing ourselves as leaders in our market that pride ourselves in the use of technology cutting edge industry standards we work to give clients the latest and most recent market conditions.

Please reach out to me at 617.634.9339 or chris@capresidential.com. Consultations are always at no cost to you!

It’s that time of year again; the rental market in South Boston is back with a vengeance!! I myself do not see prices dropping anytime soon.  Times have certainly changed in Southie as far as rent prices. Right now a 3 bedroom can rent anywhere from $1000 up to $1500 per bedroom! After you add in all of the fees, you might as well put a down payment on a condo!

 Buying can be scary for some, but that’s what we are here for.  Consider paying your own mortgage versus your landlords!! Please feel free to contact me to discuss buying your very first home in South Boston. It’s not as daunting as you’d think it up to be!!

If this past Sunday was any indictation of what the rest of the Spring will be like, the South Boston real estate market will stay incredibly hot!

Yesterday was great Sunday for buyers to get out and start their condo search with warmer weather and sunshine, and it definitely showed with all the traffic at the open houses.

One of our agents estimated over 75 people at his open house and ended up with several very strong offers. I was out with a group of buyers and witnessed the incredible amount of people hopping from condo to condo. 

South Boston has become one of the most desirable places to live in the Boston area and buyers are showing they are willing to pay a premium to get into Southie. If you are a potential buyer, there has never been a better time to have a local agent working with you that knows the market inside and out and has good working relationships with other agents.

Contact me and I would be happy to help you navigate the South Boston condo market! 

The revitalization of the Seaport District moves on. The area referred to as Seaport Square encompasses 20+ acres from the convention center down D St and up to Fort Point. With hotels, shopping, offices and residences all under construction with an expected completion date of 2015-2016 this helps to explain the influx to South Boston and the Fort Point neighborhood over the past few years.

Boston is always looking to lead the way in technology and green building this project is no different looking to gain a Silver LEED certification. Leaving a good portion as open space and parklands and adding a generous amount of the much needed shopping it seems as though there is going to be something for everyone.

To see the plans and updates go to www.seaportsquare.com

A few new construction South Boston condos hit the market last week and they are selling very quickly.

Each of the projects that came on the market is located on the East Side and range from 3 unit buildings to 20 unit buildings.  Many of the units were sold in the first few days with many of them receiving multiple offers. Buyers must act quickly and aggressively if they hope to land a new construction condo in the competitive South Boston real estate market. 

Price points for the condos start at $579k and can go as high as the mid 800's. All the condos that came on the market will be high end and include at least one parking spot. 

If you are interested in buying a new construction South Boston condo, I would be happy to show you a few of the new buildings!

Stylish one bedroom condo with massive closet space. Open living area, hardwood floors, beautifully tiled bathroom. Appliances will be changed to Stainless Steel. Very convenient location, close to shopping, restaurants, bars and public transportation. Such great energy within the space, this unit will not last!!!  Please contact me to set up a showing. First Open House will be held Sunday, Febuary 10th, between 12-2PM.

South Boston is forever changing and a lot of that change has come along D Street.  There's the West Square, which promises 225 units with 255 parking spaces, which takes the entire block between C and D streets, from West 1^st to West 2^nd, 411 D Street, which will add an additional 197 apartments. There is even talk of a couple of hotels going in near the convention center!! Where there is land there is Construction!!   Having lived in South Boston my entire life, seeing the changes first hand is incredible. What was once referred to as the West Side or Lower End, is now more expensive than living on Farragut Road! South Boston is the place to be, hence why I’ve never left!!

Whether you plan on moving next month or next year you should start looking now to gain a better understanding of your desired market. A real estate agent can provide you with great insight.  When looking to purchase property and using a “buyer’s agent” the cost to you is often nothing. The agents most often receive their compensation through the commission offered by the individual(s) or company selling the property.  Seek out a real estate agent that specializes in the town or city that you most desire to purchase. By hiring a real estate agent you provide yourself with an individual whose expertise can help prepare yourself for what to expect. 

In a real estate transaction, no matter a South Boston Condo, a Back Bay Townhouse, or a Downtown Penthouse, both buyer and seller are out for their own financial interests from day one.  Without proper guidance, buyers often jeopardize their position and wind up paying more for their dream property, or lose it all together.  If you are in the market to purchase a new condo, single family or multi-family property anywhere in Boston, or Metro-Boston for that matter, don’t make any of these five mistakes when negotiating:

1)      Not Employing a Buyer’s Agent – For some reason, many buyers are leery of hiring a realtor to act on their behalf.  

Buyers fear that working with one agent will limit their options.  In fact, working with a designated agent can bring you more listings and opportunities than you can typically find on your own and generally do it much faster.  Good agents will also know if there are pre-construction units that are not yet on the market that they can suggest to you if you are willing to wait out the construction process.  

Buyers may also think that working with an agent will cost them money or that they could negotiate a lower price if they did not have an agent involved.  This is typically NOT the case at all.  Sellers must agree in advance of putting their property on the market with a listing agent, how much they will pay to sell their home.  The listing agent simply shares that fee with a buyers agent, if there is one.  By not having a buyers agent, you are essentially negotiating without representation against a seller who does.  A good buyers agent will have the discussion about how they are paid and typically should only receive their payment from the listing agent or seller. 

2)      Not Having the Same Information As the Seller – Before you submit an offer, you should remember the seller has already decided how much money they want from the sale of their property.  They have had the luxury of reviewing recent sales activity in their market and have set their expectations.  As a buyer, you also need to know the comparable properties they are basing the value of their property on, and figure out what is a fair market price, market conditions included.  Would you want to fall in love with a South End brownstone and not know that it is $75,000 overpriced?  I wouldn’t, but that is me. 

3)       Not Having Enough of a Deposit – As a buyer you want to always show a seller your seriousness with your Earnest Money Deposit amounts.  Acting conservatively by proposing a low deposit amount, no matter how well qualified you may be, will quickly tell the seller otherwise.  Sellers will generally gauge the strength of your offer first by price, and second by deposits and financing amounts.  In a competitive situation for a specific South Boston Condo, I have seen a buyer with low deposit amounts have their offer rejected in favor of an offer with the same price, but higher deposit amounts.   

4)      Having Too Many Contingencies – A contingency is a condition that must be met prior to either a contract signing or a closing.  The two most common contingencies are a Home Inspection before signing a purchase contract, and a Financing Contingency before closing on the sale.  These two are regarded as normal.  Additional contingencies such as “Subject to the Sale of Your Current Home” can tank your offer very quickly.  If you are a first time buyer, you need not worry about such a contingency!

5)      Being Impatient – As anxious as you feel to buy your new home, remember, a seller is just as anxious to sell theirs!  Having a buyers agent to separate your emotions from the transaction and act in a planned, strategic way, allows you the confidence that you won’t overpay and rush to judgment on your perfect property. 

I have personally purchased and sold property all over Boston, and Eastern MA for that matter, so I understand what it’s like on both sides of the fence.  Most people only buy or sell an average of 3 times in their lives, so it’s natural to be uncomfortable when it comes to negotiating the largest assets of your lifetime.  When you hire an agent, be sure they are a professional and are educated where you may not be.  It’s okay not to know everything!  A good buyers agent will set you at ease and always have your best interests at hand.

If you have any comments regarding this post, or are interested in buying a new property, please feel free to reach me at Andrew@capresidential.com.