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Blog :: 2019

Here's What Decreasing Interest Rates Mean for the Boston Real Estate Market

It was widely anticipated that mortgage rates would increase significantly in 2019, with Freddie Mac predicting that 2019 rates would climb as high as 5.1%, making it prohibitive for many people looking to buy homes and condos in Boston. But this week's 30-year fixed rate is 4.04%, .60 percentage points lower than the 52-week average and the same as the 52-week low. Freddie Mac has since dropped it's 30-year fixed mortgage prediction for the 2019 average to 4.3% and a small jump to 4.5% in 2020. 

So what does this news mean for those looking to buy condos for sale in Boston? For most buyers, the lower interest rate translates to hundreds of dollars of savings a month, which could give them the flexibility to buy a 2-bedroom Back Bay condo vs. a 1-bedroom, or enable them to live in neighborhoods that meet all of their criteria instead of just some. But it also means more buyers will be flooding the market, so it's important for those looking to buy Boston real estate to work with an agent that can help them put together competitive offers and negotiate the best purchase price.   

So will the low rates hold steady or will we see a jump in rates over the coming months? We'll find out for sure in a few short days - the Federal Open Market Committee (FOMC), otherwise known as "the fed," will meet on June 19th, 2019 to release projection materials which contain the potential direction of interest rates in coming years. If it indicates potential rate hikes this year or several of them in 2020, mortgage rates can be expected to rise. If not, rates will likely remain favorable for home buyers throughout the next 18-months.  

Here are some additional articles that offer useful information about mortgage rates, and the impact the changes will have on those looking to purchase homes or refinance:

https://themortgagereports.com/32667/mortgage-rates-forecast-fha-va-usda-conventional

https://www.bankrate.com/mortgages/analysis/

https://www.housingwire.com/articles/49310-mba-declining-mortgage-rates-push-refinances-to-a-3-year-high

http://www.freddiemac.com/pmms/

Looking to purchase real estate in Boston?  Here are the latest homes for sale in Back Bay, The South End, Beacon Hill and all of Boston's best neighborhoods. For more information about the Boston real estate market, tips, advice and more, contact one of our experts

New Construction Real Estate in Boston – Here's What's Available

There are so many new condo buildings in Boston it can be hard to keep up with their progress and availability, and many buyers are missing pre-sale opportunities they never even knew they had. When it comes to new real estate in Boston, we want to make sure our buyers stay informed about their options, so we put together a list of six spectacular developments that are currently, or will soon be, available for pre-sale. 

Arlington House – Back Bay

These luxury Back Bay condos are in the perfect location, situated on the Back Bay / South End border. Homes range from 1,103-3,411 square feet and can be customized for early buyers.  

Features: Soaring windows, honeycomb floors, high trey ceilings, direct elevator access, private outdoor space, garage parking and hi-end finishes. 

Pricing: Available for purchase now, from $1,075,000 - $5,995,000 unfinished, and $1,295,000 - $6,649,000 finished

The Henry - Fenway

This Fenway condo building is just steps from a number of public transportation options and is easily walkable to major Boston neighborhoods including Back Bay and the South End. 

Features: 1000+ square feet, mostly 2 bed / 2 bath homes with open floor plans, custom kitchens with top-of-the-line appliances, oversized windows and one garage parking space. 

Completion: These 20 Fenway condos are expected to be completed in the Fall of 2019, and three are currently listed for pre-sale

Pricing: $1,025,000 - $1,225,000

The Saybrook – Brighton

Conveniently located near the new Boston Landing development and MBTA commuter rail station, these 29 Brighton condos will include five one-bedrooms, 16 two-bedrooms, three two-bedrooms with dens and five three-bedrooms.

Features: 1,045 square feet of ground-floor retail, 29 luxury condos, many with exterior decks, and a ground-floor parking garage with 32 vehicle spaces and bicycle storage.

Completion: Expected completion for these Brighton condos is Fall 2019, and pre-sales will begin soon. Contact us to be notified as soon as they become available. 

Pricing: $600,000-$1,015,000

The Mark at DeNormandie Wharf – East Boston

The 107 new East Boston condos will offer buyers modern, waterfront living. In addition to the studio, one- two and three-bedroom condos, there is an extensive list of condo building amenities. 

Features: Expansive windows and hi-end finishes in every condo, 24/7 concierge, private terrace with grills and firepits, billiards lounge, fireplace lounge, library and card room, golf simulator, screening room, fitness center with flex studio and Peloton bikes, pet spa, underground parking garage with Envoy car-share, Wifi bar and package storage.

Completion: This East Boston condo building is scheduled to be completed in 2020. Condos are currently available for pre-sale

Pricing: The range for these luxury East Boston condos is $400,000 - $1,500,000. 

Slip45 – East Boston

After the success of Slip 65, which sold out in under eight weeks, this condo development at Clippership Wharf is expected to be very popular with buyers looking for waterfront real estate in East Boston. 

Features: 30,200 square feet of retail space, four acres of open space including a Harborwalk, beach area and floating dock, 300 garage parking spaces, proximity to public transportation, sweeping views of the Boston skyline

Pricing: The Slip45 luxury condos will be available for pre-sale soon, contact usto be notified as soon as they become available.

Echelon – Seaport 

Luxurious style, a full list of world-class amenities and a premium location near all of The Seaports restaurants, entertainment and nightlife venues make Echelon condos some of the most coveted in Boston.

Features: 447 luxury condos, 125,000 square feet of restaurants and retail, indoor and outdoor pools, full-service fitness center, 24/7 doorman, valet, multiple common outdoor spaces, basketball court, golf simulator and pet spa.

Completion: Expected completion is 2020, but Echelon Seaport condos are currently available for pre-sale.

Pricing: $700,000 - $3,000,000+

Even with new construction purchases it’s critical that buyers use a professional real estate agent to leverage their knowledge of the market, neighborhood and purchasing process, which can be overwhelming and confusing. New construction real estate in Bostonis in high demand, so reach out to one of our experts If you’d like to learn more about any of these projects.

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    Coming Soon - South End 2 Bedroom Penthouse Duplex with Parking

    Looking for a two bedroom condo in Boston? Be the first to see this South End condo with parking!  Bright with an open floorpan and high ceilings, this contemporary penthouse duplex is in a highly desirable South End location, perfectly nestled between Tremont Street and Columbus Ave. In addition to the chef's kitchen and private roof deck with panoramic skyline views, this two bedroom South End home has:

    • 1.5 baths
    • A thoughtful layout with a large, open dining / media area
    • Wood burning fireplace
    • Sub-Zero refrigerator, built-in Gaggenau oven and a 5 burner Miele gas cooktop with high velocity stainless hood
    • 2 sets of french doors to a private deck off the kitchen
    • 2 large bedrooms with generous storage
    • A 3-piece bath with laundry closet 
    • 1,386 square feet of open living space

    If you're looking for condos for sale Boston, don't miss the opportunity to see this stylish home with modern finishes in a perfect South End location near restaurants, shops and art galleries. 

    The listing price on this condo for sale in the South End $1,495,00, and it's scheduled to hit MLS later this week. Contact the listing agent, Adam Cutone, for more information or to schedule a private showing before it hits the market. 

    Looking for more Boston condos for sale?  Check out other listings in The South End, Back Bay, Beacon Hill, The Seaport and other surrounding neighborhoods, or contact us to speak with one of our experts. 

    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 any questions about these luxury rental buildings, new projects in Boston, the status of projects, availability of luxury rentals or anything pertaining to Boston real estate, please contact us.