New “Green” Standards for Affordable Housing in Boston
August 22, 2008 | Filed Under Real Estate News, Boston Lifestyle, Boston Condos, Boston Real Estate | Leave a Comment
According to an article in the Boston Globe, all new affordable housing funded by Boston’s Department of Neighborhood Development must be deemed “green.” Projects will need to meet the Energy Star standards and the LEED “Silver” standard. Yesterday, Boston Mayor Thomas M. Menino named six housing projects set to share $2m in grant money from the Massachusetts Technology collaborative.
This is great news that should set a standard for Boston real estate. More environmentally friendly buildings will mean a better lifestyle for everyone.
Fantastic 1 Bedroom Now Available on Chandler Street
August 20, 2008 | Filed Under Boston Lifestyle, Boston Condos, Boston Real Estate | Leave a Comment
Nestled between the Back Bay and South End, 150 Chandler Street #5 is just steps from all Boston has to offer. The home features 646 sq ft of sun-filled space and a sensational private deck off the living room. Keep cool with the central a/c and enjoy lots of extra storage space. Garage parking is available for lease. This spectacular home is offered at $549,000.
Photos and information courtesy of Richard Egan and Coldwell Banker.
Mortgage Fees to Increase
August 20, 2008 | Filed Under Real Estate News, Mortgage and Finance, Boston Real Estate | Leave a Comment
If you are considering buying Boston real estate this fall, you will probably want to pay attention to the new Fannie Mae and Freddie Mac rules. Banker and Tradesman reported that “adverse market” fees will be doubled from one-quarter of a percentage point to one-half a percentage point starting Oct. 1 for new mortgages delivered to Fannie Mae, and Nov. 7 for loans delivered to Freddie Mac. That’s $250 -$500 for every $100,000 borrowed. This will apply to all new purchasers and refinancers. However, if you have a FICO score of less than 720 and a down payment of less than 15 percent, you will be charged quarter-point higher fees upfront. So…if you are considering a purchase, keep these dates in mind.
Spacious Loft in Boston’s Leather District
August 19, 2008 | Filed Under Boston Lofts, Boston Lifestyle, Boston Condos, Boston Real Estate | Leave a Comment
We know that lofts are one of the hottest trends in Boston Real Estate, and if you are looking for 1700+ sq ft of open loft space, 96 South Street #1 is for you. The open floor plan features fabulous natural light, new maple floors and spectacular 12 foot ceilings. This Boston Loft has storage galore and a large shared roof deck. Not to be missed, the price has recently been reduced to $759k. Condo fees are a super-low $240/month.
Photos and information courtesy of Less Arnold and Gibson Sotheby’s International Realty.
Two amazing luxury lofts for lease at FP3
August 19, 2008 | Filed Under Boston Lofts, Boston Lifestyle, Boston Condos, Boston Luxury Developments, Boston Real Estate | Leave a Comment
We are now offering two fantastic lofts for lease at the new FP3 project in Boston’s trendy Seaport District. Both units large sliding glass windows and doors as well as spacious terraces. Enjoy grilling on the Lynx gas grill, or just enjoy the great views. The modern kitchen features Arclinea designed cabinetry and luxury appliances by Bosch, Kitchen Aid and Whirlpool. Laundry is simple with the Bosch washer and dryer. The smaller loft is an 816+/- sq ft 1 bedroom 1.5 bath loft with a 300 sq ft terrace offered at $3,600/month. The large loft is 1,082+/- sq ft 2 bedroom 2 bath loft with a 300 sq ft terrace offered at $4,800/month. For more information, call Bushari Group Real Estate.
One Kenmore Project well on its way
August 19, 2008 | Filed Under Real Estate News, Boston Lifestyle, Boston Condos, Boston Luxury Developments, Boston Real Estate | Leave a Comment
On August 15th, Meredith Management submitted a Draft Project Impact Report (DPIR) and a Draft Environmental Impact Report (DEIR) for the large-scale Kenmore Square air rights project in the Fenway to the Boston Redevelopment Authority (BRA). The project plans to include 308 housing units, 387,047 sq ft of office space, 92,461 sq ft of retail space and 1,290 parking spaces. The development will be spread over four buildings to be constructed between Beacon Street and Brookline Avenue. This project will give a shot of life to Boston’s up-and-coming Fenway area.
Plans change for the Prudential Buildings
August 19, 2008 | Filed Under Real Estate News, Real Estate Investment, Boston Luxury Developments, Boston Real Estate | Leave a Comment
Boston Properties, the owner of the Prudential Center, filed a Draft Project Impact Report (DPIR) with the Boston Redevelopment Authority (BRA) with reduced heights for the proposed residential tower on Exeter Street and the office space at 888 Boylston Street. The residential tower, to be called Avalon Exeter, will be shortened from 30 stories to 27. The office building will go from 19 stories to 17. The current Avalon at the Prudential Center is one of the cities most popular rental buildings in Boston, and the expansion will include a renovated plaza with water fountains in the footprint of the Pru’s old outdoor space.
Zero Marlborough Sales Slow as Completion Nears
August 18, 2008 | Filed Under Real Estate Investment, Boston Lifestyle, Boston Condos, Boston Luxury Developments, Boston Real Estate | Leave a Comment
There will soon be a new par for excellence along the park. Zero Marlborough, one of the city’s poshest new luxury buildings at, you guessed it, Zero Marlborough Street in the Back Bay, is scheduled for a fall completion. Although many units, including the expansive penthouse, went under-agreement in 2007, sales have slowed. There are still some fantastic units available, including Units 6 & 7. Both 3 bedroom homes feature stunning views of the Boston Public Garden and valet garage parking. Unit 6 is available for $4.73m, and unit 7 is available for $4.765m. Be a part of Boston’s most prestigious address.
Insider Tip: Things to consider when renovating
August 18, 2008 | Filed Under Real Estate News, Real Estate Trends and Statistics, Boston Lifestyle, Boston Condos, Boston Real Estate | Leave a Comment
If you are considering renovating your Boston home, think carefully before you make your final decision. We want to see you make, not lose, money on your next home renovation adventure. Here are a few things to consider before taking the plunge:
1. Do your renovation plans fit with the charm and feel of the home? - An uber-mod kitchen may be exactly what you want, but buyers may think it looks out of place next to the 18th-century moldings. Stay true to the home’s architecture and period style for best results.
2. Do you need to replace carpet? - Don’t. Go with hardwood floors. A little extra now will go a long way on the resale.
3. How long will you stay in the home? - The more personalized the renovation, the less likely you will see a return on your investment. Don’t go overboard with a luxurious wine cellar and basement bowling lanes unless the renovations are simply for your own enjoyment.
If you have any questions about the return value of your next renovation project, or if you would like a free comparative market analysis, call Elad Bushari today. 617-529-7079
The bank’s attorney does NOT represent you.
August 17, 2008 | Filed Under Boston Condos, Boston Real Estate | Leave a Comment
Smacking down tens of thousands of hard-earned dollars for a tiny piece of Boston real estate brings some people to rethink their finances. Once buyers realize how much it actually costs to purchase a home…yes, there are actually closing costs…they begin attempting to save money where ever possible. I would like to drive home the point that there are some things you should absolutely NOT skimp on. The most important is a great Boston real estate attorney. You are making what is most likely the largest purchase of your life (or at least it is pretty high on the list). A real estate attorney is there to protect you and your purchase. Wouldn’t you pay $1500 to protect the 5 percent desposit you plopped down at Purchase & Sale? I would and I did. As a seasoned agent, I have seen plenty of purchase and sale agreements. I also have seen great real estate attorneys save my clients’ backside when times got tough. Think of it as insurance.
One other point…if you do not know a great attorney, ask your Accredited Buyer’s Representative. Don’t use the attorney your bank uses for their closing “because it is free”. Believe me, nothing is free. You can always ask that your mortgage company use YOUR attorney so you won’t incur a double charge, but not vice-versa. The bank’s closing attorney represents the bank, not you. Your attorney can do the paperwork for the bank, but represent you. Protect your investment…unless, of course, you can afford to kiss it goodbye.
As Boston Real Estate professionals, our mission is to provide you with the best home-buying or home-selling experience in Boston. Search MA properties through MLS on our website, www.bushari.com. We pride ourselves on exceptional customer service, and look forward to sharing that service with you.
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