2018 was a competitive year for Boston real estate buyers, and it left many discouraged and resigned to renting. But over the last few months the market has changed, creating new opportunities for those looking for Boston condos for sale. Though interest rates are higher than they were at the start of 2018, there are a number of good reasons 2019 should be the year you buy real estate in Boston. Let's take a look.

Less Demand for Boston Real Estate

After several years of virtually unprecedented levels of demand, there's been a shift in the Boston real estate market, and it brings great news for buyers. Just a year ago demand was sky high, creating intense bidding wars and the expectation that buyers would pay significantly more than asking price. As a result, many buyers chose to look outside the city where prices are more affordable, or to continue renting. This buyer exodus has helped right the supply and demand imbalance that's been frustrating buyers for the last two years. 

An Increase in Mortgage Rates

Many real estate buyers get wind of rising interest rates and step back from the market. So, in times when rates are expected to increase, like they are projected to in early 2019, the population of buyers drops significantly and the number of days a house stays on the market increases. This environment balances negotiating power for buyers and sellers.  

New Residential Construction

Few other cities are seeing the kind of residential development that we're experiencing in Boston. What does this mean for buyers? You've got options, and they're good ones. In order to avoid commoditization, new condo buildings in Boston are distinguishing themselves in a number of ways - unique amenities, high-end features, distinctive designs and proximity to local attractions. Echelon, one of the newest condo buildings in the rapidly expanding Seaport District offers residents two signature outdoor pools and expansive sun decks as well as immediate access to renowned restaurants, recreational options and shopping. Watermark Seaport features a resident lounge with a billiards room and an innovation lab, Metro9 in Somerville has a unique industrial style and a roof deck with an outdoor television, and you can almost guarantee that any new condos in Boston will have state-of-the-art fitness centers, pet amenities and upgrades like stainless appliances, large windows and hardwood floors.  

Residential Tax Exemption

If you own a home in Boston, the city offers a residential tax exemption as long as you occupy the property as your principal residence. The exemption gives Boston homeowners a discount on their annual tax bill, essentially cutting the annual tax rate on a $500,000 home in half. Though the exemption isn't a new benefit for home buyers in 2019, it offsets most, if not all or more of the monthly payment increase caused by the recent rise in interest rates.  

In 2019 buyers can expect to see a greater inventory of Boston homes for sale, and because they will have significantly less competition than previous years, they'll have more negotiating leverage on the purchase price. So if you've been holding off on purchasing real estate in Boston, 2019 is your chance to take advantage of economic factors and changes in the market that will make Boston homes more affordable than they've been in years.  

For more information about Boston real estate, or to talk to an agent about what to expect from the home buying process and the 2019 Boston real estate market, just contact us. 

 

One of the best things about living in Boston (arguably the best thing) is how full of life it is.  You could spend an entire month exploring the city and still miss some if it's best attractions.  So, as some of the most experienced real estate agents in Boston, we've made it a priority to acquaint ourselves with the city in every way, which hasn't been too difficult since our agents live, work and play in the neighborhoods they work in.  Whether it's a question about luxury condos for sale in Back Bay, the best Italian restaurant in the North End, pet friendly buildings in Fenway, or what Bostonians can expect from the massive amount of development in The Seaport, we have all kinds of answers.  But while our agents love exploring the city and gathering information for clients (a job perk for sure), we also like to consider the opinions of others around town.  So, we partnered with our friend Jessica Kane to get the details on The Improper Bostonian's list of the 9 Best Bars and Clubs in Boston.  Here's what Jessica had to say:

The Improper Bostonian, a lively, alternative newspaper serving the community, likes to develop lists of the best. An important "best list" from The Improper Bostonian addresses bars, taverns, and nightclubs in Boston.

If you are planning a trip to Boston, or if you live in or near the city and want to learn more about nightlife in your community, there are nine establishments that made the longer "best list" that are well worth a look.

Best Beer Bar: The Publick House

Although beer bars have been popping up in Boston at a rapid pace in recent years, The Publick House has been and remains ahead of the ever growing pack. The Publick House is described as the "sultan of suds" by The Improper Bostonian. 

The Publick House features over 30 styles of beer, served in over 80 bottles. In addition, the establishment offers its patrons an ever rotating selection of brew on tap. 

Best Cozy Bar: Anchovies

Anchovies is recognized as the best cozy bar in Boston. Anchovies is a dimly lit joint, that comes complete with a dark wood bar. It is a neighborhood tavern, that includes nick-knacks about the place, and bartenders who are generous in their pours.

Anchovies is a friendly spot, a pub that serves a large cast of regulars. In addition, Anchovies serves a full menu of delectable, authentic Italian food until 1:30 a.m. 

Best Dance Club: Royale

When it comes to Boston dance clubs, Royale is a survivor. Dance clubs in the city, indeed across the country, come and go in a flash. Royale is now in its seventh year, and no other venue has come close to taking the perch as the best away from this venue.

Royale is located in the Boston Theatre District and packs crowds in each and every weekend. Royale features a wide array of marquee DJs and EDM stars. In addition, the venue is outfitted with a tremendous light and sound system. Royale is also home to some great live concerts each year, thanks to its partnership with Bowery Presents. 

Best Dive Bar: Drinking Fountain

Who doesn't like a fun dive bar? And Boston has more than a few. With that said, Drinking Fountain is the best dive bar in town.

Drinking Fountain has been able to withstand the trend towards gentrification that has been sweeping the city in the past couple of decades. In addition, Drinking Fountain offers some of the most affordably priced drinks to be found anywhere in Boston.

Best Date Bar: The Gallows

Despite the establishment's name, The Gallows is regarded as the best date bar in Boston. The Gallows is a lively, vibrant South End gastropub. In addition to reasonably priced adult beverages, the establishment offers a nice selection of small plates. It is a perfect place for comfortable conversation, even well suited to that all important first date.

Best Gay Bar: Club Café 

In business for 30-plus years, Club Café remains the best gay bar in Boston. People still line up down the block to get in. This remains the case even as gay bars shutter as LGBT patrons venture towards partying in "mainline" establishments. 

Club Café offers the best cabaret stage in town. In addition, there is a lively dancefloor located at the rear of the establishment. 

Best Hotel Bar: Hojoko

If you are visiting Boston, or if you are a resident that wants to try out something not normally seen in a hotel bar, Hojoko is the place to go. The establishment is located in the trendy Verb Hotel.

The establishment features a vibrant décor not normally associated with a hotel lobby bar. The colorful décor provides a marvelous backdrop for the best sake selections found anywhere in Boston. Midnight snacks of ramen are served daily. On a seasonal basis, beverages from Hojoko can be enjoyed poolside.

Best Irish Pub: The Field

What would Boston be without its wonderful Irish pubs? There are plenty of them. And, The Field is considered the best.

The cash-only pub offers patrons pints of Guinness, pool, and darts. Keep in mind that The Field is not located in Southie, but in the Cambridge area (not necessarily where you'd expect to find the best Irish Pub). Because of its location, The Field attracts a truly eclectic array of patrons, people from all walks of life and a myriad of backgrounds. It is a truly friendly gathering place.

Best Jazz Club: Wally's Café

Wally's Café tops the list as the best jazz joint in Boston. Wally's Café, in its 70th year, is a Boston institution. 

The establishment has featured nightly jazz performances by veteran musicians and up-and-coming performers. There are early evening sessions at Wally's Café, followed by scheduled performers.

Jessica Kane writes for TIPS Alcohol Training, offering TIPS responsible alcohol service training online for both on and off premise needs.  

The Charles Realty has had its finger on the pulse of Boston real estate for 34 years.  Our agents have unparalleled knowledge of the city and it’s neighborhoods, and oftentimes have access to information not yet made public.  For questions about homes for sale in Boston, or if you're looking for the most dedicated seller's agents in Boston, please contact us.  

 

For years Boston has attracted Millennials with it's abundance of highly ranked colleges and universities, and it has retained them with a thriving job market and renowned cultural appeal.  Real Estate in Back Bay, The South End, Beacon Hill, Downtown, The Seaport, Dorchester and South Boston is particularly attractive to Millennials, because homes here offer a social and convenient lifestyle not found outside the city.  Therefore it's important for the sellers of homes in these neighborhoods, and also for builders looking for land to develop residential buildings, to understand the preferences this target demographic.  Our friends at Sky Five Properties put some research together that we thought would help give some insight into this growing population of home buyers.  To help us understand what Millennials are looking for in Boston Homes.  

What Millennials are Looking for in Boston Homes

Millennials are spreading their wings and finding their way in this big, big world and doing so in a way that truly affects the local real estate market. Part of that is moving out of their parents’ house and into a space of their own. And although they are known to spend their money on experiences, adventure, travel, good food, and fun, they all need a place to rest their heads at night. Boston is a popular city for millennials for obvious reasons; the culture, a thriving job market, the art, the food, the big city feel, the public transportation, the coffee shops and sidewalk boutiques and access to one of the most sought after universities in the country. When moving to Boston, millennials are looking for a few key things in a home or apartment that are non-negotiable. When it comes to real estate, there are a few things your home needs to have in order to attract these tech-savvy, environmentally conscious, global-minded, entrepreneurial, social media addicted go-getters. 

The ability to connect- For most millennials, staying connected is a priority. They usually have a multitude of different devices plugged in at one time, and having them charged and ready to use at any moment is important. Built in office spaces, conveniently placed outlets, and other features that allow them to plug in quickly and easily are important for this generation of homebuyers. They’ll ask questions about Internet and cell service in the area, so make sure you have the answers for that. 

The option for fitness-  Millennials tend to be a more health conscious generation than those before them. Health and fitness are important to them, so a place to work out is a definite plus when looking for a home. An exercise space in the home is usually a perk, but being close to a local gym, running path or hiking trail can also peak a millennials interest.

A place to eat-  Millennials are brave and open-minded when it comes to trying new foods. They appreciate a diverse range of foods and are more likely to spend their money on a cool new local restaurant than a typical fast food chain. And because they love food, they need a place to cook it in. A modern kitchen is a must for this generation. Contemporary appliances, stylish décor and a place that feels comfortable and spacious is a must. The kitchen has become a popular place for hang-outs and get-togethers, so this room of the house needs to be updated, open, stylish and convenient to really wow them.

An outdoor space- Whether it is a small patio that they’ll convert into a Zen place to do yoga or a large backyard where they will grow their own vegetables, millennials appreciate a private place outside to get some fresh air. They appreciate a balcony, a patio or an intimate front porch that they can unwind on after a busy day. It’s not about the size of the space for millennials, it’s about the opportunity to get outside to recharge and relax, sip some good wine with friends, read a good book, write, check emails or hang out in a hammock. 

Because they typically enjoy travel and put value in experiences over material things, many millennials rent a home or condo before they buy, (more about that here). The idea of spending a lot of money or time in one place may not fit with their lifestyle, so renting gives them a little more freedom in that department.

Say what you will about millennials, but one thing is certain: Millennials moving to Boston for their first adventure on their own have a specific set of requirements that must be met before they will commit to buying a home. By making a few of these changes, your home could become the dream home for enthusiastic, energy efficient, progressive, nomadic, multi-taskers who are taking their next big step in life. 

For more information about the Boston real estate market, contact one of our experts, 617-236-0353.

 

One of the Most Up-and-Coming Neighborhood in Boston

Although it was once essentially an Irish Catholic community, recently South Boston has become one of Boston's most up-and-coming neighborhood. "Southie" has become increasingly desirable among young professionals and families attracted to the community and easy access to public transportation.

South Boston is also home to numerous film shooting locations including Good Will Hunting, Mystic River, The Departed, Gone Baby Gone, and more. Recently "Southie Pride" was more illuminate than ever when people from all over flock to the neighborhood to enjoy the South Boston St. Patrick's Day Parade.

In addition to the parade, people come from all over to enjoy the neighborhood's scenery and rich history. Castle Island, a Revolutionary War-era fort and 22-acre park that is connect to Boston is a big part of South Boston's breathtaking waterfront views. South Boston is also home to the Boston Convention and Exhibition Center, The Institute for Contemporary Art, and additional waterfront buildings.

Some restaurants include: Morton's The Steakhouse (Steak): 2 Seaport Lane Strega Waterfront (Italian): 1 Marina Park Drive Menton (French): 354 Congress Street Rosa Mexicano (Mexican): 155 Seaport Boulevard

Some bars & pubs include: Shenanagan's Irish Pub: 332 W Broadway Stats Bar and Grill: 77 Dorchester Street Murphy's Law Bar: 837 Summer Street

Be sure to let us know your favorite spots in South Boston by commenting on our Facebook! For more information on South Boston, feel free to message our Rental Agents directly at our new rentals Facebook page, Charles Rentals.

For South Boston listings please visit our website http://www.thecharlesrealty.com/.

Sources: https://www.cityofboston.gov/neighborhoods/southboston.asp southbostontoday.com

2014 is upon us, and with it comes numerous lease openings in the Boston area. While people may find many reasons not to rent, but in today's day and age renting is something that should considered for the New Year. Below the Newbury Rentals team has come up with some reasons to consider rentals on January 1st.

More financially safe than owning a home

The economy has greatly influenced the housing market, and now is a better time than ever to rent. One of the largest costs avoided when renting is the mortgage. Not only is the cost of a mortgage avoided, but also the stress of large payments or having to remortgage. Other big costs avoided are property taxes, Homeowners Associate fees (doesn't apply to all), and homeowners insurance.

In addition, when renting you avoid the responsibilities of buying or selling a home. Another upside to renting is that it allows for people to save up money, pay off loans, and spend money elsewhere. In some cases renters today are renting more than one home allowing for them to have a vacation spot.

Access to urban conveniences

The majority of rentals are found in urban areas, which usually means everything is in a mile. Many necessities are within walking distances in urban areas. Not only are there numerous stores within a close proximity, but also many stores in cities cannot be found in suburban areas.

Some rentals have luxuries

Many luxury buildings and apartment complexes offer a pool, gym, and other amenities. It can come in handy especially in the cold winter months when any imaginable luxury is accessible right in your own building.

Less upkeep

There is far less upkeep involved when renting. Someone else does all the repairs when renting, a landlord or someone they hire will take care of repairs and replacements. When something breaks and it's in the contract that the landlord will fix it, then they are required to do so.

Social scene

When more than one tenant are living under the same roof, rentals themselves become great places for a social life. Rentals in urban areas are also close to some of the best nightlife spots, including bars, clubs, and restaurants.

For more information on rentals, feel free to message our Rental Agents directly at our new rentals Facebook page, Newbury Rentals or check out our site!

Sources:

10 Reasons To...

Top 10 Reasons to Rent Rather Than Own

6 Reasons to Rent

Whether this is your first Boston winter in the new apartment or just looking to battle the challenges of living in the city during gargantuan snow storms, we are here to give you some tips on how to make it through:

Mind the Thermostat

Yes, we know that this is the #1 word of advice from any Bostonian, and there is a reason for it.  Not only is it super energy and cost efficient to keep your heat on low when you are out of the house, but also it's just as important to get your thermostat checked out!  It's good to double check that the batteries and the thermostat itself are working properly before the real snow begins.

Beware of the Draft

Double checking that the windows lock properly and weatherstripping all windows and doors are two quick ways to combat the cold winter air.  According to the U.S. Department of Energy, cold air drafts can waste anywhere from 30% to 5% of your energy use. Rolling up towels are a quick DIY way to weatherstrip any problem doors.

Schedule an Energy Audit

Have one of the experts handle it and inspect your home to help you cut costs on your winter heating bills.  Whether you live in an apartment or a condominium, you can have your landlord contact National Grid to inspect your home and provide a full report on how to make your home more energy efficient.

Stock Up on the Basics

Flashlights, batteries, and your ice-melt solution of choice are all handy items to stock up on in the Boston weather.  It's always better to be prepared with these items on hand then to have to trek through snow banks in Back Bay for any last minute necessities.

Always Have a Backup Plan

Parking in Boston can be a nightmare on a day to day basis, then throw in a New England Blizzard and things can get really interesting.  Always be sure to have a back-up plan about where to park in case your parking spot is ever the home to a snowbank. You can talk with your landlord or surrounding parking garages about back up options.

Protect Your Floors

Even gleaming hardwood floors can take a toll from the harsh New England Winter. Take any old tray and fill it with pebbles and rocks to create a stylish and mess free place to put your winter boots to dry.

For more tips and tricks on how to make it through a legendary Boston winter, feel free to reach out to our agents about life in the city!

Sources

Winterize Your Home

24 Ways to Get Your Home Ready for Winter

You are now three weeks in to your new lease and probably finally feeling settled in your new apartment. You have probably seen your neighbors in the hallways or when you are exiting or entering your apartment building and just greeted them with a quick nod. However, now that you feel more comfortable it is time to possibly build some friendly relationships with the people that share your building, mail room, and maybe even laundry basement. Here are a few pointers for meeting new neighbors!

• Remember to smile
• Don't be afraid of small talk--while exiting or entering the building, in the laundry room, or in the elevator or on the stairs
• If there is one, join your building's committee--you'll definitely meet people and feel as if you have a say in the community and also be able to discuss common issues (such as issues with the landlord, etc.)
• If you're feeling bold, plan a building party---invite everyone!

You never know---after making these connections you could make a new friend, or even find a new roommate for next year!!

Good luck,

The Charles Realty

http://www.rent.com/blog/apartment-living-meet-your-new-neighbors/

http://www.apartmentguide.com/blog/?p=6211

We've already has some cold days this year! Even though it has warmed back up a bit (I promise you that this is only temporary), I can assure you that winter is coming. However, it is not too late to take some steps to prep your home for the cold months ahead.

1. Give your boiler a check up

Whether you like it or not, your heat is going to get turned on soon (if it hasn't been already). It's a good idea to get your boiler tuned up. It could add years to its lifespan! If nothing else, the filter should be changed between cooling and heating, which is not a difficult task!

2. Inspect chimneys!

Now is the time! Do not wait to have them inspected or cleaned if you use your fire place regularly throughout the winter.

3. Weatherstripping

If you're like me and live in an old building in Boston, you can actually feel the cold air blowing into your home from underneath doors and around windows. Get some floor snakes to go under your doors, and purchase some products to seal up your windows. Not only will you save money on heating, but you'll be so much more comfortable when it starts getting really cold!

4. Prevent ice damns on your roof!

"Seal air leaks. Shutting down air leakage is probably going to have the biggest effect, and it's the kind of thing you can do incrementally. The second would be adding insulation. If you have R18 insulation value, turn it into R36. This is where your energy audit will be helpful. And the third is making sure your roof is vented properly, if your house is designed to have a vented roof. Make sure your soffit vents aren't blocked, your gable vents are open." (Source)

5. Order a home energy audit

If you've been putting this off, now is the time to do it. They use an infrared gun to monitor heat leakage, and the process is so much more successful when it's cold outside. The results could help you save money and stay warmer this winter!

6. Prepare an emergency kit

Collect a flashlight, batteries, matches, food and water in case of an emergency. Also, collect the phone numbers of your local utility companies and tape them somewhere safe!

Let us know if you have any other suggestions to keep everything and everyone safe this winter!

Source

Source

This photo, submitted to Boston.com by John Harrington, in evidence that Irene was very present in the Back Bay. I hope that everyone who has been affected by the hurricane is recovering well. The first death in Massachusetts caused by the storm was reported this morning. Our thoughts go out to his family. It will be a team effort to recover from the storm, but after a disaster like this we can rebuild. Please share your hurricane stories with us, we'd love to hear them.

The vacancy rate in rental units is down lower than it has been in the Boston area since the end of 2002.

"Boston-area rents are hitting new heights - with the median price recently reaching $1,665 a month" (source). Perspective-tenants are scrambling to find affordable places for September 1st. We hear stories of some landlords taking advantage of the desperation and hiking up rents, and of others requiring extreme items from possible renters in order to consider them.

Here are some tips to navigating this tough rental market:

1. Work with a rental agent.

While it means sometimes paying a fee (typically one month's rent), working with one agent who can scour MLS and exclusive rental listings that are not on Craigslist will very  be helpful to you. Plus good rental agents have relationships with landlords, and if you have them to back you up as a good fit for the unit, then you stand a much better chance of getting it! A good rental agent can also help you understand your lease, etc. and walk you through the complicated process of renting an apartment in Boston.

2. If you do want to do it on your own...

Search the listings by owner on Craigslist. If you can get a floor in a single family, you could save a lot of money, and a lot of headaches if your landlord shares a wall with you. If Craigslist comes up short, go to the area you're wanting to live in and look for "for rent" signs in the windows. Just because it's not online, doesn't necessarily mean it doesn't exist.

It's hard out there, but perseverance and sacrifices are necessary if you want to find the perfect rental unit for September! Good Luck!