Blog :: 12-2012

Back Bay Living- Gut-Renovated Brownstone Home

The Back Bay is one of the most sough-after and desireable neighborhoods in Boston, but it is known for being pricey and it can potentially be difficult to find a home right in the heart of the neighborhood. Right now on the market, however, is a beautiful 1-bedroom apartment, that is entirely gut-renovated in a gorgeous traditional brownstone building.

At $2,500 a month, incuding heat and hot water, this apartment is truly a deal. You can have the prestige of living in a Boston brownstone, with brand new Bosch stainless-steel appliances, granite countertops, and hardwood floors. You could be the first person to live in this brand new home, and still enjoy the touches of tradition with a refurbished fireplace and original moldings.

For more information contact Sarah Glovsky at sarahglovsky@gmail.com or call and leave a voicemail at 617-236-0353.

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Happy Holidays from The Charles Realty

As we enter the last week of 2012 and celebrate the holidays, everyone at The Charles Realty wants to say thank you for a wonderful year.  We've worked closely with many good friends, and built many new relationships this year, and are truly fortunate for all the great things that have come our way in 2012.  We all truly enjoy what we do here and would not want it any other way.

Thank you to everyone for your support for The Charles Realty and we're excited to look to 2013 a promising new year!

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Just bought a place? And thinking of renting it?

For investors or those that are just taking their first steps into the world of investing, there is great opportunity in Boston and the Greater Boston Area. Right now Boston is dying for more rentals, there's even been articles circulating as of late that real estate experts are concerned about a shortage of apartments in the city, and there isn't anything being done about it in the immediate future. For those considering making an investment here in Boston this really is the time.

While inventory for buyers is low, there are still certainly opportunities out there to buy, and there are those gems that make perfect investment buildings. Here at The Charles Realty, Annette just sold 12 Bay State Road, a multi-family home, and it went very quickly, just one sign that the market is hungry for investments, and potential rental buildings.

So if you're interested in buying and renting out your unit or several units, we can help make this transition and help with this whole process. Please to not hesitate to contact The Charles Realty and ask questions! (617) 236-0353

Downtown Crossing is in for some major changes

If you're up on any Boston real estate news, then you're already aware of some major developments happening in the heart of the city. Downtown Crossing is expected to morph into one of the most desirable neighborhoods within the next year and continue on a path to more luxurious living.

To begin with as we've discussed before, there's Millennium Place which is being built very quickly, you can walk by almost anytime of day and find a crew working overtime to get this 15-story luxury building up. This building offers 5 different apartment and condo layouts based on the view and location.  Homes will range in price from $550,000 to $3,500,000 and are not all that far away from hitting the market.  There's no doubt that this building will bring a whole new look to Washington Street, offering the Ritz Carlton, across the street, a little bit of competition.

To compliment Millenium Place is, of course, the most anticipated project Boston has seen in some time, Millennium Towers. This building, from the same developers as Millennium Place, will incorporate elements of the old Filene's building on Washington Street and house not only condos but potential office and retail spaces. At 600ft tall, it is expected to replace the Hancock Tower as the tallest building in New England. With a full underground parking garage and potential for a national chain supermarket to move in the excitement for Millennium Tower is validated. If this project isn't a game changer for Downtown Crossing, then nothing will be.

Now another big change to come to the neighborhood is a Walgreens It's been over a year since Borders closed their doors, and the four story building on the corner of School Street has remained empty, but Walgreens has decided to give CVS some competition and take over this large building. And this isn't going to be your average pharmacy, not at all. This Walgreens will include a sushi-bar and smoothie bar, taking retail and pharmacies to a whole new level.

And finally for the cherry on the top, the city has just hired on a firm to go through with streetscape plans for Downtown Crossing. This includes some fantastic design elements and a friendlier, more modern look for the area. We'll have to wait and watch this all play out in the coming year or so, but it certainly looks like Downtown Crossing will be getting a facelift!

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Low Inventory makes for a Seller's Market

We understand that there's a lot being said about the real estate market these days. Some people say it's on the up and up, others are saying there's a down turn, it's difficult to know where everything stands. But to straighten some facts out, right now is a true seller's market. Homes are selling at or above their listing price, and commanding higher prices than most would expect. The culprit? Low inventory.

Currently there are plenty of buyers looking, filling up open houses and shopping around, but owners seem to be reluctant to sell. With such low inventory, homes are selling quickly and often, as stated above, higher than the listing price.  At The Charles Realty, we've seen well over half our listings in the past year sell in a week or less. We're experiencing the high demand, first hand.

Potential sellers may be holding out, thinking that they'll wait until they believe property values are at their peak, but this approach could fail. If many home owners are looking at the housing market the same way, property values will all drop if everyone decides to list. So the lesson we have here, is that if you're considering selling, don't wait, put your property on the market as soon as possible. It should be a pretty easy process, seeing as homes are moving so quickly.