The official sales numbers won’t be out for a few weeks, but I thought I would take a peek on how it’s shaping up in Bradley’s favorite “nab” the Back Bay.
Back Bay condo sales from 1/1/09 – 12/31/09
Number of Back Bay condo sales – 383
Avg Back Bay condo sales price – $1,026,759.00
Median Back Bay condo [...]

Did you know, there’s no other developed country that has a Freddie and Fannie program? Why is that?

What is your favorite quote from 2009 regarding real estate or the economy? For me, it’s the duo qoutes from the developer and marketing manager for 45 Province Street. Listed below are two excerpts From the Boston Herald:
Cheryl Bliss Waxman, the listing agent for 45 Province St. in Boston’s Downtown Crossing, said she has non-refundable [...]

Foreclosures in affluent towns in Massachusetts are on the rise.
They’re not tied to subprime mortgages. They’re instead tied to the economy and the stubbornly high 8.8 percent unemployment rate.
The numbers are relatively low right now. But if the economy doesn’t improve soon, they’ll probably increase in numbers. Preliminary filings indicate that’s exactly what’s going [...]

Boston Luxury condo update:
Six condos are reported sold at the Clarendon. It will be interesting to see what the tally will be at the end of January 2010.
File under: You can’t hide the truth.

The number of foreclosures initiated in Massachusetts during the month of November fell below 2,000 for the first time since January, according to a new report by The Warren Group, publisher of Banker & Tradesman. Still, petitions to foreclose, which mark the start of the foreclosure process, remain at a relatively high level and were [...]

One way to gauge the Boston condo sales market for 2010 is to take note of what properties are presently under agreement. Here’s where we stand:
*As of today’s date, 417 Boston condos are under agreement. This number doesn’t include all the new Boston luxury condo developments
*The least expensive condo, 35 Harwood Street (MLS # 70871789), [...]

“The rich aren’t as rich as they used to be.”
-Alex Rodriguez, a real estate agent with JM Group USA
Real Estate agents are masters of the obvious, aren’t they? “This is the kitchen” they proclaim, as if a buyer couldn’t deduce that from the refrigerator, stove and dining table.
And so, too, is that obvious quote [...]

The latest S&P Case-Shiller Index shows that the Boston housing market is very close to breaking into positive price territory.
Prices here continued to decline in October, according to the much-anticipated report. But the decrease was relatively slight, year over year, at minus 2.8 percent, compared to the national average decline of 7.3 percent, the report [...]

A major $559 million complex — which includes 220 housing units — is pushing ahead in East Cambridge, despite the current financial crunch and economic conditions. From the Herald:
Alexandria Real Estate Equities seeks approval under the Massachusetts Environmental Policy Act to build 1.5 million square feet of office and laboratory space, 220 units of housing, [...]