I just looked at the sales stats for Back Bay and Beacon HIll and in both neighborhoods the average sq. ft. price increased compared to last year. Here’s my beef, do you think that the Boston media will report the goods news in the Boston condo market or just continue to report the negative.

The following data is from MLS.
Back Bay condo sales for ‘07 compared to ‘08.
Back Bay number of sales in ‘07 – 453
Back Bay number of sales in ‘08 – 404
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Back Bay average sq. ft. price in ‘07 – $805.00
Back Bay average sq. ft. price in ‘08 – $887.00
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Back Bay average sales price in ‘07 – [...]

 
Why is tonight called “First Night”? Isn’t  the “Last Night”?
Happy New Year!

So, here’s the end of year stats for the Greater Boston condo market.
From Dec 24, 2008 – Dec 31, 2008
NUMBER OF NEW LISTINGS 12
NUMBER OF PRICE CHANGES 15
NUMBER OF PROPERTIES BACK ON MARKET 2
NUMBER OF PROPERTIES OFF-THE-MARKET 29
NUMBER OF PROPERTIES UNDER AGREEMENT 6
NUMBER OF PROPERTIES SOLD 36
TOTAL INVENTORY 1624
“Greater Boston” means sales throughout the entire [...]

If you’re thinking of buying a Boston condo this year call us at 617-720-5454 or 617-595-3712. My sales agents are waiting for your call, and waiting, and waiting, and waiting……..

Boston condo inventory:
December 31, 2006 – 2,189 condos for sale
December 31, 2007 – 2,039 condos for sale
December 31, 2008 – 1,551 condos for sale

Today, I had a conversation with an economic college (university) professor.
Professor: What book are your reading?
Me: The Wolf of Wall Street.
a few minutes later …
Me: What’s your opinion on this Wall Street Ponzi scheme?
Professor: It’s the 2nd largest Ponzi scheme in the United States of America.
Me: (Think John what was bigger, damn I don’t know …)
Professor: Let [...]

Did you have a bad day? Before you answer that question, let me say that the seller of 273 Beacon Street in Back Bay probably had a worse day.
Let me set up the scenario for you.
On March 2007, 273 Beacon Street in Back Bay was purchased for $3.2 million - 8,000 sq. ft. three family. On December 29, 2008 the [...]

Standard & Poor’s/Case-Shiller home prices are out for the top twenty home markets and taking its place at the top is Phoenix where prices are down nearly 33% for the year, Las Vegas nearly 32% and Boston was down (good news, if you can call it that) only in the single digits.
From Reuters News Service….
NEW YORK, Dec 30 [...]

This article was on the front page of New York Times on 12/28/08.  If you want to know how we got into the mess we are in now with mortgages this article gives you a good insight.  It is just amazing what went on with these financial companies. The New York Times article explains how officers of [...]