Boston MA housing market

Foreclosures For Sale – Big Supply, Low Prices. Really?

Friday, May 27th, 2011

Take a look at this article that talks about the glut of foreclosures for sale. I constantly run into people looking for these deals in Boston and the Boston Metro Market, but the question becomes; are they in our market too?

Lets take a look at the numbers for Short Sales and Bank Owned Properties in Massachusetts for 2010 as I think it tells a different tale.

There were 3,852 Bank Owned Homes sold in 2010 in the state of Massachusetts and 1,887 Short Sales sold in 2010. This brings the total amount of distressed sales 5,739 Single Family Homes. Now lets compare that to the 35,651 homes sold in Massachusetts and that makes the distressed sales market amount to 16.10%. This is well below the national average and shows the strength of the Massachusetts market.

Out of the 15,010 condo sales in 2010, 1,341 condos were bank owned and only 757 homes were sold as short sales 2,098. Condos had a lower distressed rate weighing in at 13.97% which is well below the national average.

Lets Take a look at the Boston Metro Market pictures, specifically looking at all of the areas within 20 miles of Boston.

There were 9.654 condos sold in 2010 with 575 properties being bank owned and 368 Short Sale properties. This makes the distressed sale rate in the Boston Metro Market for condos 9.77%.

There were 12,806 Single Family homes sold last year with 734 bank owned sales and 508 short sales bringing the percentage of Single Family distressed homes down to 9.70%.

Let’s recap! The state of Massachusetts has a distressed sales rate below the national average and the Boston Metro Market has a distressed sales rate below the average in Massachusetts. I am constantly telling people that you can not give the national temperature yesterday and it is the same with real estate. Real estate is local and is really based on the conditions of a specific neighborhood. Take the Back Bay for example, there were a total of 6 (yes, you read that right.. SIX) distressed sales in 2010 out of the 448 sales or 1.3%. Compare this to their their Dorchester counterpart and we have 339 sales in 2010 with 130 distressed sales or 38.35%.

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Jeffrey Chubb, owner of RE/MAX SELECT is one the areas foremost experts in distressed sales. Whether you are looking to buy a distressed home or a homeowner that is facing foreclosure, contact Jeff today. His expertise will help provide you with all the tools and knowledge necessary to make the best most informed answer. Foreclosure is not the answer. He can be reached at 617-480-2600 or by email at Jeff@MoveWithChubb.com. Please also visit www.MoveWithChubb.com or www.MAAvoidForeclosure.com to answer any and all foreclosure questions you may have.

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Newly Listed Boston Homes Over $1m

Wednesday, May 25th, 2011

It’s important to stay on top of the market even if you are just looking for fun! Take a look at the homes below that are newly listed this week in Boston and have a list price over $1 million. Boston is a big city with a lot of different towns that fit a lot of different personalities… What town fits you? Click here to search all homes currently for sale in Boston that are listed for over $1 million.

Single Family Boston Homes Listed over $1 million

456 Park Drive, South End – 6 Bedrooms, 4 Baths – 3784 Square Feet – $1.05m

20 Zamora Street, Jamaica Plain – 3 Bedrooms, 2.1 Baths – 2126 Square Feet – $1.2m

4 Concord Street, Charlestown – 5 Bedrooms, 3.1 Baths – 2600 Square Feet – $1.2m

17 Monument Avenue, Charlestown – 4 Bedrooms, 2.1 Baths – 2800 Square Feet – $1.399m

112 Appleton Street, South End – 4 Bedrooms, 3 Baths – 3288 Square Feet – $1.995m

32 Woodland Road, Jamaica Plain – 8 Bedrooms, 4.2 Baths – 7604 Square Feet – $1.995m

164 West Brookline Street, South End – 5 Bedrooms, 3 Baths – 3885 Square Feet – $2.295m

38 Pinckney Street, Beacon Hill – 5 Bedrooms, 5.1 Baths – 3411 Square Feet – $2.45m

176 West Canton Street, South End – 4 Bedrooms, 4.2 Baths – 4353 Square Feet – $2.849m

129 Charlest Street, Beacon Hill – 3 Bedrooms, 2.1 Baths – 4672 Square Feet – $4.75m

Boston Condos For Sale Listed Over $1m

35 Channel Center Street, U:501, Seaport District – 1 Bedroom, 2 Baths – 1912 Square Feet – $1.019m

110 Stuart Street, U:26F, Back Bay – 1 Bedroom, 1.1 Baths – 857 Square Feet – $1.055m

110 Stuart Street, U:27F, Back Bay -1 Bedroom, 1.1 Baths – 857 Square Feet – $1.085m

34 Constellation Wharf, U:34, Charlestown: The Navy Yard – 3 Bedrooms, 3.1 Baths, 2493 Square Feet – $1.15m

327 Commonwealth Avenue, U:4, Back Bay – 2 Bedrooms, 2 Baths, 1370 Square Feet – $1.185m

2 Avery Street, U:20G, Midtown – 2 Bedrooms, 2 Baths, 1257 Square Feet – $1.195m

300 Boylston Street, U:614, Back Bay – 2 Bedrooms, 2 Baths, 1580 Square Feet, $1.429m

25 Channel Center, U:PH108, Seaport District – 3 Bedrooms, 3 Baths, 2208 Square Feet – $1.45m

400 Stuart Street, U:15A, Back Bay – 2 Bedrooms, 2 Baths, 1409 Square Feet – $1.45m

110 Stuart Street, U25C, Back Bay – 2 Bedrooms, 2 Baths, 1286 Square Feet – $1.495m

360 Newbury Street, U:411, Back Bay – 2 Bedrooms, 2 Baths – 1624 Square Feet – $1.499m

178 West Brookline Street, U:1, South End – 2 Bedrooms, 2 Baths – 2140 Square Feet – $1.595m

151 Beacon Street, U:1, Back Bay – 3 Bedrooms, 3 Baths – 1954 Square Feet – $1.599m

40 Battery Street, U:102, Waterfont – 2 Bedrooms, 2 Baths – 1300 Square Feet – $1.599m

9 West Broadway, U:605, Seaport District – 2 Bedrooms, 3 Baths – 2967 Square Feet – $1.899m

1 Avery Street, U:19A, Back Bay – 3 Bedrooms, 3.1 Baths, 2242 Square Feet – $2.195m

86 Beacon Street, U:4, Beacon Hill – 3 Bedrooms, 3 Baths, 2943 Square Feet – $3.05m

63 Commercial Wharf East, U:5-7, Waterfront – 3 Bedrooms, 2 Baths, 2734 Square Feet – $3.2m

40 Battery Street, U:PH11, Waterfront – 3 Bedrooms, 3.1 Baths, 2260 Square Feet – $3.2m

409 Commonwealth Avenue, U:D, Back Bay – 4 Bedrooms, 4.1 Baths, 3787 Square Feet – $3.99m

100 Beacon Street, U:6, Back Bay – 4 Bedrooms, 4.1 Baths, 4140 Square Feet – $5.575m

776 Boylston Street, U:W – 11-A, Back Bay – 2 Bedrooms, 2.1 Baths, 3179 Square Feet – $5.8m

If you are looking to buy or sell a home in Boston, then Jeffrey Chubb, owner of RE/MAX SELECT would be honored to help you. His passion for real estate and experience selling on average a home a week helps his clients enjoy a seamless and stress free transaction. You can reach him at 617-480-2600 or by email at Jeff@MoveWithChubb.com. Feel free to visit him on the web at www.MoveWithChubb.com.

Boston Globe’s Top Spots For Food Lovers

Monday, May 23rd, 2011

If walking out the door and sitting down in the town that is known for its culinary arts is important to you, then take a look at the South End as it is Boston Globe’s 2011 Top Spot to Live for Food Lovers. The South End, a town in Boston that neighbors the Back Bay is home to 25,889 residents with the Median Single Family home price of $1,610,000 and a median condo price of $554,888. The South End is home to a variety of different restaurants in which Boston residents flock to and it seems like a new one pops up each day.

Waltham, home to 60,632 people came in as the runner up for the Top Spots To Live for Food Lovers. Residents and out of town guests alike enjoy the 130 full and limited service restaurants. Go ahead and take a drive down Moody Street and be prepared for almost every type of food imaginable.

South End Homes For Sale Quick Search

South End Homes Currently For Sale up to $400,000

South End Homes Currently For Sale from $400,000 to $500,000

South End Homes Currently For Sale from $500,000 to $700,000

South End Homes Currently For Sale $700,000 and Up

Waltham, MA Single Family Homes For Sale Quick Search

Single Family Homes For Sale in Waltham, MA up to $350,000

Single Family Homes For Sale in Waltham, MA from $350,000 to $500,000

Single Family Homes For Sale in Waltham, MA from $500,000 and Up

Waltham, MA Condos For Sale Quick Search

Condos Currently for Sale in Waltham, MA up to $250,000

Condos Currently for Sale in Waltham, MA from $250,000 to $400,000

Condos Currently for Sale in Waltham, MA from $400,000 and Up

Jeffrey Chubb is the owner of RE/MAX Select and is ranked one of the top agents in the state. Should you be thinking about buying or selling a home then contact him at 617-480-2600, Jeff@MoveWithChubb.com or on the web at www.MoveWithChubb.com. You can also find out what your home is worth at www.MAPropertyValue.com.

Waltham median sales prices

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Short Sales & Foreclosure in & Around Boston, MA

Sunday, April 17th, 2011

Looking for the next deal in a Boston, MA Short Sale or Boston, MA Foreclosure? Take a look at these Boston Short Sales & Foreclosures that were listed in the Week of April 17th. Whether you are looking for the single family, condo or multi-family Short Sale or foreclosure in the Boston, Metro Market, then these are sure to please. If you would like to take a look at any of these homes or sign up to receive these homes the moment they are listed, then do not hesitate giving Jeffrey Chubb of RE/MAX Select a call or visiting him on the web at www.MoveWithChubb.com.

Lynn, MA Short Sales & Foreclosure

2 Bedroom Lynn Condo Short Sale – $72,000

3 Bedroom Lynn Foreclosure – $129,900

3 Bedroom Lynn Foreclosure – $189,000

4 Bedroom Lynn Short Sale – $345,900

Revere, MA Short Sales & Foreclosure

1 Bedroom Condo Revere, MA Foreclosure – $114,900

2 Bedroom Revere Short Sale – $199,900

3 Bedroom Revere Short Sale – $249,900

Boston, MA Short Sales & Foreclosure

2 Bedroom Dorchester, MA Foreclosure – $74,250

2 Bedroom Hyde Park Foreclosure – $144,900

3 Unit Multi-Family Dorchester, MA Foreclosure – $160,000

5 Bedroom East Boston Short Sale – $175,000

3 Bedroom Dorchester Short Sale – $180,000

3 Unit Dorchester, MA Multi-Unit Foreclosure – $185,400

2 Unit Dorchester, MA Multi-Family Foreclosure – $369,150

Weymouth, MA Short Sales & Foreclosures

2 Bedroom Weymouth, MA Foreclosure – Condo – $192,610

4 Bedroom Weymouth Short Sale – $249.000

Woburn, MA Short Sales & Foreclosures

2 Bedroom Woburn, MA Short Sale – $254,900

Medford, MA Short Sales & Foreclosures

4 Bedroom Medford Foreclosure – $260,000

Somerville, MA Short Sales & Foreclosures

5 Bedroom Somerville Foreclosure – $318,000

Dedham, MA Short Sales & Foreclosures

5 Bedroom Dedham Foreclosure – $339,000

Natick, MA Short Sales & Foreclosures

4 Bedroom Natick Short Sale – $350,000

Framingham, MA Short Sales & Foreclosures

3 Bedroom Framingham Short Sale – $409,900

Foxboro, MA Short Sales & Foreclosures

3 Bedroom Foxboro Foreclosure - 465,000

Quincy, MA Short Sales & Foreclosures

1 Bedroom Condo in Quincy, MA Short Sale – $149,900

Malden, MA Short Sales & Foreclosures

2 Bedroom Condo in Malden, MA Short Sale – $149,900

Brookline, MA Short Sales & Foreclosures

1 Bedroom Condo in Brookline, MA Short Sale – $289,900

Saugus, MA Short Sales & Foreclosures

3 Bedroom Townhome in Saugus, MA Short Sale – $309,900

Everett, MA Short Sales & Foreclosures

3 Unit Multi-Family in Everett, MA Short Sale – $399,000

Most Expensive Neighborhood in Boston

Saturday, April 16th, 2011

The most expensive neighborhood in Boston for condos by average list price is the Back Bay. Since January of 2010, the average condo is listed for $1,587,184 vs. $1,030,026 in Beacon Hill. The average sold condo in the Back Bay comes in at $1,254,137 compared to $811,938.

Another indicator is to look at the price per square foot in the different Boston, MA Neighborhoods. Currently the average price per square foot being offered in the Back Bay is $645 compared to $870 a square foot in Beacon Hill.

Another way to look and figure out what the most expensive neighborhood in Boston, MA is to look at the range of properties for sale. Currently as of April 16th, there are 84 properties for sale ranging from a 336 square foot studio listed at $249,000 to a sprawling 5000 square foot 4 Bedroom condo with the sellers asking $9.950 million. The Back Bay is a bigger neighborhood, so therefore there are more homes and a larger range. It will take $209,000 to buy a 401 square foot studio in the Back Bay and ranges to $16.990 million for an 8,000 square foot Penthouse.

So what is the verdict on what is the most expensive neighborhood in Boston? I consider it a draw… Both neighborhoods are great investments for a buyer looking to purchase a new home and sellers have enjoyed steady values on their homes, even through one of the worst markets since the great depression.

Top 5 Most Expensive Homes in Back Bay

5. $5.9 Million – Boylston Street – 2 Bedroom, 2.1 Bath spanning 3222 Square Feet

4. $5.9 Million – Marlborough Street – 3 Bedroom, 4 Full Bath, 2 Half Bath Condo Spanning 5841 Square Feet

3. $7.95 Million – Boylston Street – 4022 Square Foot Condo with 3 Bedrooms and 4 Full Baths

2. $12.7 Million – Boylston Street – 4922 Square Foot with 3 Bedrooms, 2.1 Baths

1. $16.990 Million – Boylston Street – 8,000 Square Foot Penthouse Apartment

Top 5 Most Expensive Homes in Beacon Hill

5. $1.975 Million – Providence Street – 2 Bedroom, 2 Full Bath Built in 2009 spanning 1507 Square Feet

4. $2.15 Million – West Cedar Street – 3 Bedroom, 2.1 Bath Condo with 2481 Square Feet

3. $2.95 Million – Mount Vernon Street – 2747 Square Foot Condo with 3 Bedrooms, 3.1 Baths

2. $3.799 Million – Beacon Street – 3075 Square Foot Condo with 3 Bedrooms and 2.1 Baths

1. $9.950 Million – Beacon Street – 4 Bedroom, 3.1 Bath Condo Spanning 5000 Square Feet

Whether you are thinking about buying or selling a home in Boston including the Back Bay or Beacon Hill, then give Jeffrey Chubb of RE/MAX Select a call today. His years of experience, aggressive marketing packages and tough as nails negotiations tactics help his sellers sell their homes faster and for money while buyers enjoy an average purchase price that beats his competitors. You can reach Jeffrey at 617-480-2600 or visit him on the web at www.MoveWithChubb.com. All figures are considered reliable, but not guaranteed and were compiled from mlspin.

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ON SALE – 10% OFF – Sherborn Short Sale

Wednesday, April 13th, 2011

Looking for a steal of a good deal on your next home? Then check out page 82 in April’s Money Magazine and you will find this home being sold for an estimated 10% discount off the market rates. Rarely are short sales available in Sherborn, MA, but even more rare are homes that are available under $500,000 and especially homes of this magnitude.

Nestled on over 2 acres, the next home owner will love this gorgeous 4 bedroom home with random width hardwood floors throughout. The Kitchen sports granite countertops with Stainless Steel appliances that include a Subzero Refrigerator and a commercial grade Wolf Stove.

This home has been approved by the bank for a $450,000 short sale. Give Jeff Chubb a call at 617-480-2600 or find out more information on the web at www.MoveWithChubb.com.

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This Week’s Newly Listed Short Sales & Foreclosures in Massachusetts

Sunday, April 10th, 2011

This week we saw 123 Short Sales and Foreclosures listed for sale in Massachusetts.

Of this 123 homes, 75 were single families ranging from $39,900 in Springfield to $1.190.000 in Concord. The average listing price was $230.102. Here are a couple that I found may be interesting to take a look at…

4 Bedroom in Weymouth, MA in Need of some TLC Listed for $140,900 – Weymouth Foreclosure

2 Bedroom in Quincy, MA Steps From the Ocean Listed for $150,000 – Quincy Short Sale

2 Bedroom in Weymouth, MA Listed for $157,900 – Weymouth Foreclosure

3 Bedroom Chelsea, MA Single Family Listed for $203,000 – Chelsea Short Sale

3 Bedroom Woburn, MA Single Family on Nearly a Half Acre Listed for $209,900 – Woburn Foreclosure

4 Bedroom Dorchester, MA Over 2000 sqft Listed for $220,000 – Dorchester Short Sale

4 Bedroom Chelsea, MA Foreclosure Listed for $226,000 – Chelsea Foreclosure

3 Bedroom Melrose, MA Listed for $239,900 – Melrose Short Sale

3 Bedroom Quincy, MA Listed for $245,000 – Quincy Short Sale

3 Bedroom Roslindale, MA Listed for $265,000 – Roslindale Short Sale

2 Bedroom in Everett, MA Spanning Nearly 2000 sqft Listed for $299,900 – Everett Short Sale

5 Bedroom in Revere, MA Over 2600 sqft Listed for $319,900 – Revere Short Sale

5 Bedroom in Melrose, MA in Beautiful Condition Listed for $455,000 – Melrose Short Sale

Were you thinking about getting a good deal on a Short Sale or a Foreclosure that is a condo? Last week we had 26 new bank owned and short sale condos listed for sale in the state of Massachusetts. The average list price was $173.877 ranging from $69,900 in Haverhill to $364,900 in Woburn. Here are a couple that I found may be interesting and worth taking a look at…

2 Bedroom Condo in Lynn, MA Spanning 1137 Square Feet Listed at $136,900 – Lynn, MA Foreclosure

2 Bedroom Condo in Dorchester, MA Listed for $169,900 – Dorchester, MA Short Sale

2 Bedroom Condo in Dorchester, MA Listed for $170,000 – Dorchester, MA Foreclosure

1 Bedroom Condo in Medford, MA Listed for $179,900 – Medford, MA Short Sale

2 Bedroom Condo in Dorchester, MA Listed for $210,000 – Dorchester, MA Foreclosure

3 Bedroom Condo in Roslindale, MA Listed for $239,900 – Roslindale Short Sale

1 Bedroom Condo in Charlestown, the Navy Yard Listed for $288,400 – Charlestown Foreclosure

2 Bedroom Condo in Woburn, MA Listed for $364,900 – Woburn Foreclosure

Is it a multi-family property that you are looking to buy? There 22 new Short Sales and Foreclosed homes listed in the state of Massachusetts. Talk about some great opportunities! Of these 22 properties, the average was $242,395 with a range from $51,500 for a two family in Brockton to $469,900 in Waltham for a 4 family. Here are a few that I felt may be worth taking a look at…

2 Unit Multi-Family in Hyde Park listed at $299,900 – Hyde Park, MA Short Sale

2 Unit Multi-Family in Hull, MA listed at $309,000 – Hull Foreclosure

2 Unit Multi-Family in West Roxbury, MA listed at $350,000 – West Roxbury Short Sale

2 Unit With 3 Bed Multi-Family in Roslindale, MA listed at $399,000 – Roslindale Short Sale

2 Unit Multi-Family Property in Revere listed at $425,000 – Revere Short Sale

4 Unit Waltham Multi-Family listed at $469,900 – Waltham Foreclosure

Jeffrey Chubb is one of the area’s foremost Short Sale experts as he has spoken nationally, has been on multiple appearances on local Channel 5 news and recently was written up in Nationally syndicated Money Magazine. Visit www.MoveWithChubb.com or call him at 617-480-2600. Jeffrey Chubb, owner of RE/MAX Select.

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What is The Real Estate Market Like in Boston Now?

Friday, April 1st, 2011

Like most of the US, the Boston real estate market has seen a decline in home values since the end of 2008. Unlike much of the country, Boston appears to have hit its bottom very early, in March of 2009, and now seems to be stagnating at current prices for the last year. Over the next six months, one might expect to see prices decline a little bit more, perhaps somewhat closer to the 2009 lows but, as the economy continues to improve, the values available are going to begin to be picked up by home buyers confident that they can meet the obligations of a mortgage.

Of course, this is an overview of the entire Boston-area market. If you have a particular neighborhood or part of the city or outlying suburbs in mind, the picture may be very different. For example, if you were shopping for a home in a luxury market like Beacon Hill, you would be surprised to see that home prices have not really decreased as much as the rest of the market. Likewise, several other neighborhoods have seen declining prices even before the market crisis and may not be coming back for a very long time!

If you are settled on the Boston area, you can be confident that the floor is not about to drop out, but to formulate a specific strategy to find the best value, feel free to contact me. I know all the specifics for whatever neighborhood you want. I would be glad to help!

Tags: Boston MA housing market, Boston MA real estate market, Housing market in Boston MA, Is now a good time to buy a house in Boston MA, Real estate market it Boston MA, Should I buy a house in Boston MA, What is the real estate market like in Boston MA, When is a good time to buy a house in Boston MA
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