Boston condos

Boston condos

It’s probably official now: So-called “escalation clauses” are back in the Boston area, last seen here about 10 years ago during the run-up to the previous peak prices around 2005.

What are “escalation clauses”? They’re a little-used negotiating tactic deployed as a sort of last resort during multiple-bid situations, i.e. in a hot housing market with regular bidding wars.

They’re rather simple. A seller asks for bids. Everyone else puts down a firm price offer. But one person (or couple) puts in writing that he or she will beat any of those bids by a set amount, say, $2,500, $5,000, $10,000 or even $15,000.

The person issuing the “escalation clause” almost aways reserves the right to see the other bids (with names crossed out) and the opportunity to back out, within about 30 to 60 minutes, if the highest bid is ridiculously high. Sometimes you win. Sometimes you don’t.

There’s some debate whether they’re worth it. But there’s little doubt about this: Their apparently growing re-emergence in the Boston market, after 10 years of relative hibernation, is a sign that we’re probably approaching peak pricing levels in some sub-sectors of the market.

But, hey, who knows? This is Boston. The market here is so unpredictable and crazy these days.

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Updated: December 2017

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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