#BostonOpenHouses#BostonRealEstateAre you searchingfora Boston condo or single family home?Here are the Boston open houses scheduled forSaturday & Sunday, October 1 & 2,in the downtown Boston neighborhoodsand beyond.To see the locations and times, click the neighborhood links ofinterest to you. If youd like tolook beyond Boston, click the Search for other neighborhoods and towns link.There are many more homes on the Boston market than there were a month ago. Inventory of Boston condos and homes for sale is still historically low, however, and that can often causenew listings to gounderagreement quickly. If youreserious about buying, get toopenhouses as soon as those properties come on the market.If you can,go withanexperienced broker (that would be me24 years and counting). That is,someone who canexpertly advise you, prepare and present anoffer for you, negotiate in your interests, and guideyour transaction throughthe various potential pitfallsthat can derail a Boston real estate deal. If you cant have me attend with you, please write my name in with yours on the sign-in sheet.In my 24 years in the Boston real estate market, I havehelpedhundreds of people buy and sell Boston condos and homes. If you need assistance, call me.

Back Bay	South End
Beacon Hill	Midtown
Waterfront	Seaport
North End	South Boston
Leather District	Fenway
Cambridge	Somerville
Brookline	Newton
Charlestown
Search for other nhoods and towns

If youhavequestions about buying or selling Boston real estate, please call me at617-584-9790, orsend me an email via the linkbelow.  

Boston Real Estate Headlines:

• Tiny House Zoning Regulations: What You Need to Know
• Chinese Buyers are Snapping Up Luxury Condos in Boston
• Foreign Investment Surging in Boston
• Bostons Second Trader Joes to Open Near Harvard Next Year
• Harbor Garage Development Plans Shrink Again
• Despite Limited Inventory Greater Boston Market Continues to Boom

Featured Boston Real Estate:

• 580 Washington Street #15E, Midtown $1,600,000
• 587 East Broadway #4, South Boston $699,000
• 40 Worcester Street #1, South End $1,245,000

  

The almost 60-year-old Boston Redevelopment Authority (BRA)will changeits name next Tuesday, a WBUR article reported yesterday.The shift to the name of Boston Planning and Development Agency (BPDA) is meant to more accurately describe the agency's function.Aware that it haddeveloped a less than favorable reputation, the BRA wantsdialogue with city residents and neighborhoodsto bepart of its planning process. Agency director Brian Goldenhopes the rebranding will lead to stronger public support and approval:

There are still far too many people, far too many community organizations that view the organization negatively, and we think that by emphasizing planning, by being in the neighborhoods talking about planning, receiving meaningful input from the people of Boston, and adopting planning documents that can accommodate quality future development, we will have greater public support, greater legitimacy and greater credibility, Golden said.

Read WBUR's The Boston Redevelopment Authority is Getting a New Name.Doyou have plans to relocate to Boston?Are youthinking about where to livein Boston?Im always ready to help with your questions about buying or selling Boston homes or condos.Please call meat617-584-9790, or email me using the blue link right below.  

Boston Real Estate Headlines:

• Tiny House Zoning Regulations: What You Need to Know
• Chinese Buyers are Snapping Up Luxury Condos in Boston
• Foreign Investment Surging in Boston
• Bostons Second Trader Joes to Open Near Harvard Next Year
• Harbor Garage Development Plans Shrink Again
• Despite Limited Inventory Greater Boston Market Continues to Boom

Featured Boston Real Estate:

• 580 Washington Street #15E, Midtown $1,600,000
• 587 East Broadway #4, South Boston $699,000
• 40 Worcester Street #1, South End $1,245,000

 

#BostonCondos #BostonRealEstatePerfectly situated on the sunny side of Marlborough Street, this Back Bay 3 bed condoprovidesendless options for dining, entertainment, shopping, and transportation.Animmaculate 1,822 square foot parlor level brownstone unit with 2.5 baths, it has stunning front-facing windows that absorb tons ofsunlight into the beautiful entryandliving space. The living room acts as a grand entertainment space with high ceilings, bow windows, and original detail. A gorgeousmarble fireplace adorns the wall as a cozy addition to the space.Just down the hallway you'll find the brand new kitchen with inset cabinets, stainless steel Viking appliances, custom lighting, peninsula bar, and marble backsplash. There is a sitting area framed with a decorative fireplace, a dining space with a wall of windows, and a study/3rd bedroom. Down the staircaseisthe master bedroom with luxurious master bath and three closets. On this level, there is a also a lovely second bedroomwith full bathroom, and a private outdoor space and direct access parking space.Quiet tree-lined Marlborough Street is exemplified by its elegant brownstone homes.See other Back Bay condos for sale.See more photos and details for 179 Marlborough Street, #2.Ifyou have questions about this home, orare interested in seeing it,please call meat617-584-9790, or email me via the linkbelow.  

Boston Real Estate Headlines:

• Tiny House Zoning Regulations: What You Need to Know
• Chinese Buyers are Snapping Up Luxury Condos in Boston
• Foreign Investment Surging in Boston
• Bostons Second Trader Joes to Open Near Harvard Next Year
• Harbor Garage Development Plans Shrink Again
• Despite Limited Inventory Greater Boston Market Continues to Boom

Featured Boston Real Estate:

• 580 Washington Street #15E, Midtown $1,600,000
• 587 East Broadway #4, South Boston $699,000
• 40 Worcester Street #1, South End $1,245,000

   

#BostonRealEstate #BostonPropertyTaxesIf you'rebuying your first home in the state of Massachusetts, you probablyhave questions about property taxes and how to pay them. Canner Law, a Massachusetts real estate law firm, has a well-written andinformative blogwith a post (below) that answers some of those frequently asked questions.I wanted to share this post for two reasons. One, because of its practical basic 'nuts and bolts' information, and two, because it also looks at some of the more nuanced aspects of property tax responsibilities.Here's their post, called "Property Tax FAQs":

When are property taxes due in Massachusetts?

Most municipalities require property taxes to be paid on a quarterly basis. The tax year begins July 1^st. The taxes are due as follows:1^st Quarter (July 1^st - September 30^th) = due on Aug. 1^st2^nd Quarter(October 1^st December 31^st)= due on November 1^st3^rd Quarter(January 1^st March 31^st)= due on February 1^st4^th Quarter (April 1^st June 30^th) = due on May 1^stThe first two quarter are estimated taxes. The third and fourth quarters are actuals.

Does the Purchase and Sale Agreement address taxes?

Yes, the P&S requires taxes to be adjusted as of the closing date.

I am selling my home, I do not escrow my taxes, and my closing is prior to the tax due date. Do I need to make my tax payment?

No, you do not. The taxes can be paid by the settlement attorney at closing. The final settlement statement will contain a tax adjustment for the daily per diem. Thus, if the quarterly tax payment is $1,200, and you close on July 30^th, the settlement statement will reflect an approximate $400 adjustment from the Seller to the Buyer.

I am selling my home, I do not escrow my taxes, and my closing is after the tax due date. Will I be reimbursed for any taxes that I pay in advance?

Yes, you will be reimbursed. The settlement statement will reflect an adjustment of any amount paid in advance for the daily per diem. Thus, to return to our example, if the quarterly tax payment is $1,200 and the closing is on August 30^st, the closing attorney will reimburse you approximately $800 to cover the July 1^st to August 30^th period that you have already paid.

I am selling my home, I escrow my taxes, and my closing is prior to the tax due date. How do I avoid a double tax payment?

If you are escrowing your taxes, most lenders schedule an automatic payment from the escrow account two weeks prior to the due date. Typically, the closing attorney will include the quarterly tax payment on the settlement statement, but hold the check in escrow until the lenders escrow payment can be verified with the municipal tax collector on the due date in order to avoid a double payment.

I am purchasing a home and I want to ensure there are no further taxes owed.

Taxes run with the land so a Buyer is responsible for all back taxes owed on a property. Thus, the closing attorney orders a municipal lien certificate MLC from the city or town, which shows the taxes owed. The MLC costs between $25 to $65, depending upon the municipality. The closing attorney is required to collect any back taxes owed by the Seller at closing and properly adjust the current taxes. The MLC is recorded with the Registry of Deeds at closing so that the Buyer has proof that there are no back property taxes. Further, if a Buyer obtains an owners title insurance policy, then they are held harmless and indemnified for any loss from back taxes.Many municipalities provide the property taxes on-line (see, e.g., the City of Boston athttps://www.invoicecloud.com/portal/(S(mozjkd22c41hse33zp2ec0ut))/customerlocator.aspx?iti=8&bg=7e2d0342-51f5-4f68-83af-3f05f5df1321&vsii=28)

I bought the property several months ago, and the taxes are still in the name of the Seller.

This is a frequent occurrence. Most municipalities update their tax rolls annually, usually for the first quarter of the following tax year (August 1^st). Thus, the name of the Seller likely will remain on the tax rolls until then. The Seller does not need to receive a copy of the tax bill. They are no longer responsible for the tax payments.

When do I apply for a Residential Tax Exemption?

Some cities offer residential tax exemptions that are available if the property or unit is your primary residence. If there is an existing residential tax exemption in effect, it carries over to the new owner.Most tax exemptions require that the new owner live in the property one full calendar year before the exemption goes into effect. Here are the rules from the City of Boston:http://www.cityofboston.gov/assessing/exemptions/resexempt.aspFiscal Year 2016 (July 1, 2015 - June 30th, 2016): To be eligible for the residential exemption, the property owner must have owned and occupied their property on January 1, 2015.Fiscal Year 2017 (July 1, 2016 - June 30, 2017): To be eligible for the residential exemption, the owner must have owned and occupied their property on January 1, 2016.The residential exemption is applied to the Fiscal Year Third Quarter tax bill that is issued in late December.As examples, if Buyers closed on December 31, 2015, they can apply for a residential tax exemption with the City of Boston in the third quarter of 2017. However, if the Buyers closed on January 3, 2016, they would not be eligible to apply for a residential tax exemption until the third quarter of 2018.(Note that the Town of Brookline has similar ruleshttp://www.brooklinema.gov/161/Residential-Exemptions )

Are my property taxes required to be escrowed at closing?

Your property taxes are not required to be escrowed at closing. However, property taxes are super liens which have priority over the mortgage. Thus, for this reason, lenders prefer that your taxes be escrowed and they often will build a 1/8 of a point reduction into the interest rate if you escrow the taxes.

How does the lender calculate my tax escrows at closing?

The lender has a third party tax service provider manage the escrows. The lender will typically keep one or two months of taxes in reserve to serve as a cushion to ensure payment. The tax escrow is governed by federal law. If the amount in reserve exceeds the maximum allowable cushion, you will be reimbursed. When you refinance or sell and payoff the mortgage, the lender is required by federal law to reimburse the remaining tax escrows within thirty days of the payoff.

How are taxes impacted for new construction or condominium conversions?

As stated above, the municipality typically does not update the tax roll for two to four quarters. Thus, the property taxes are calculated based on the prior property or land usage (which is typically lower). Some municipalities claw back the balance of the taxes once the current rate is calculated. You should consult with your closing attorney about the issue furthr. A Sellers attorney typically issues a tax letter for new constructions/ condominium conversion transactions to provide details in advance of the closing.

How do semi-annual tax payments work?

In a few municipalities (e.g., Cambridge), taxes are due twice a year. The payments are due in November and May. If escrowing, the lender will hold at least six months of taxes at closing.

In addition to property taxes, what else needs to be paid or adjusted at closing?

The water bill needs to be paid before at closing. Utility bills are in the name of the Seller and do not run with the land, so they do not appear on the settlement statement.  

#BostonCondos #BostonRealEstateNew to the market, this modern Midtown Boston 2 bed condo is located on the 27th floor of Boston's Millennium Tower. Prodigious glass windows encase the unit, adding immense amounts of sunlight and fantastic views of downtown.Anopen floor plan offers a contemporary eat-in kitchen with marble countertops, bar seating, Poggenpohl cabinets, gas cooking, and top-of-the-line stainless steel appliances. The living space is open to the dining and kitchen area and has plenty of room for entertaining.The second bedroom is just off the living space and offers incredible views, as well as ample space for varying layouts. The spacious master bedroom comes with an open walk-in closet with wonderful storage space. The master bath hasa soaking tub, dual vanity, and a shower with frameless glass doors. This home has 2.5 bathrooms.Millennium Tower stands at the heart of a vibrant downtown Boston real estate market, in the midst of the best dining, shopping, and theaters that Boston has to offer. This new construction full service building with 5 star service has it all including a screening room, 75-foot lap pool, library, dining room, yoga and pilates facilities, and valet.See more photos and details for 1 Franklin Street, #2707.See other Midtown Boston condos for sale.Ifyou have questions about this home, orare interested in seeing it,please call meat617-584-9790, or email me via the linkbelow.  

Boston Real Estate Headlines:

• Foreign Investment Surging in Boston
• Bostons Second Trader Joes to Open Near Harvard Next Year
• Harbor Garage Development Plans Shrink Again
• Despite Limited Inventory Greater Boston Market Continues to Boom

Featured Boston Real Estate:

• 1597 Washington Street #512, South End $899,000
• 40 Worcester Street #1, South End $1,245,000
• 403 E. 3rd Street #1, South Boston $1,199,000

 

#BostonOpenHouses#BostonRealEstateAre you searchingfora Boston condo or single family home?Here are the Boston open houses scheduled forSaturday & Sunday, September 24& 25,in the downtown Boston neighborhoodsand beyond.To see the locations and times, click the neighborhood links ofinterest to you. If youd like tolook beyond Boston, click the Search for other neighborhoods and towns link.There are many more homes on the Boston market than there were a month ago. Inventory of Boston condos and homes for sale is still historically low, however, and that can often causenew listings to gounderagreement quickly. If youreserious about buying, get toopenhouses as soon as those properties come on the market.If you can,go withanexperienced broker (that would be me24 years and counting). That is,someone who canexpertly advise you, prepare and present anoffer for you, negotiate in your interests, and guideyour transaction throughthe various potential pitfallsthat can derail a Boston real estate deal. If you cant have me attend with you, please write my name in with yours on the sign-in sheet.In my 24 years in the Boston real estate market, I havehelpedhundreds of people buy and sell Boston condos and homes. If you need assistance, call me.

Back Bay	South End
Beacon Hill	Midtown
Waterfront	Seaport
North End	South Boston
Leather District	Fenway
Cambridge	Somerville
Brookline	Newton
Charlestown
Search for other nhoods and towns

If youhavequestions about buying or selling Boston real estate, please call me at617-584-9790, orsend me an email via the linkbelow.  

Boston Real Estate Headlines:

• Foreign Investment Surging in Boston
• Bostons Second Trader Joes to Open Near Harvard Next Year
• Harbor Garage Development Plans Shrink Again
• Despite Limited Inventory Greater Boston Market Continues to Boom

Featured Boston Real Estate:

• 1597 Washington Street #512, South End $899,000
• 40 Worcester Street #1, South End $1,245,000
• 403 E. 3rd Street #1, South Boston $1,199,000

 

 #BostonCondos #BostonRealEstateThis completely renovatedSouth End 2 bed condo is located at the end of a quiet dead end street, on the border of the South End and Back Bay neighborhoods. This 1,470 square foot home is a parlor/garden duplex with 2 bathrooms. It hasa chef's kitchen withPoggenpohl cabinets, stainless steel appliances, gas cooking, and a Sub Zero refrigerator.The oversized mahogany deck off the kitchen and dining area hasa natural gas grill connection.The first level is open and inviting with an eat-in kitchen, living area, full bath, and access to the private deck. The lower level offers a family room, two spacious bedrooms and a joining bathroom including a jacuzzi tub. Gleaming hardwood floors, in-unit laundry, abundant storage, and a single direct-access parking space complete this gem.See more photos and details for 19 Albemarle Street, #1.See other South End condos for sale.Ifyou have questions about this home, orare interested in seeing it,please call meat617-584-9790, or email me via the linkbelow.  

Boston Real Estate Headlines:

• Foreign Investment Surging in Boston
• Bostons Second Trader Joes to Open Near Harvard Next Year
• Harbor Garage Development Plans Shrink Again
• Despite Limited Inventory Greater Boston Market Continues to Boom

Featured Boston Real Estate:

• 1597 Washington Street #512, South End $899,000
• 40 Worcester Street #1, South End $1,245,000
• 403 E. 3rd Street #1, South Boston $1,199,000

 

 #BostonCondos #BostonRealEstateYou might be tired of hearing me say it, but it's still true. If you've been thinking of selling your Boston home or condo, this isa good time!Thegraph above showsthe number of Boston residential units that wentunder agreement for purchase (in grey) in the 30-day period ending September 15, 2016. It also shows how many listings were available (in blue) at the end of that period.You can see that this new phase of low supply began in 2013. It has remainedlow every year since then. The norm prior tothen looked more like what you see in the year 2011.Comparing the numberof properties going under agreement withthe number of properties available, we get what is calledtheabsorption rate. The rate is considered in terms ofmonths of supply. Most analysts consider a three-month supply to be a balanced market. When supply is low, there's upward pressure onprices. For the last year or more, Boston has been hovering roughly between about a 1to a1.4 month supply. In mid-September, it has bumped up toa 2.13months supply.This little bump in inventory will likely mean a bitless competition for buyers. That said, its still a historically low inventory of Boston condos and homes, making it a great market for sellers. If a property is 1) priced correctly, 2) shows well, and 3) is well-located, it can go under agreement very quickly for favorable terms.I always like to emphasize how its still very important to price it right from the start, no matter what the market is like. When I list yourhome, my goal is to capitalize on the motivation of serious buyers, and those are the buyers who will visit the listing within the first couple of weeks it is on market. Iwant to make sure youll get them through your front door.Pricing your Boston home correctly isone of four vital components to selling with a good outcome.An experienced broker who knows the market well willhelp you to 1) understand the value of your home in the marketplaceand how to price it, 2)expose your home to the widest possible group of qualified buyers, and 3) show and represent your home in the best possible light.Most importantly, a trusted brokercan give yousound guidance through the potential pitfalls that can, and do,derail real estate transactions.For more than 24 years, I have helped people buyhomes and condominiums in Boston and its suburbs.I have developed anextensive knowledge of the many issues involved in the local real estate market.Ifyouhave been thinking about selling your Boston home or condo, or have questions about buying or selling Boston real estate, pleasecall me at617-584-9790. Or email me with a click ofthe blue button.  

Boston Real Estate Headlines:

• Foreign Investment Surging in Boston
• Bostons Second Trader Joes to Open Near Harvard Next Year
• Harbor Garage Development Plans Shrink Again
• Despite Limited Inventory Greater Boston Market Continues to Boom

Featured Boston Real Estate:

• 1597 Washington Street #512, South End $899,000
• 40 Worcester Street #1, South End $1,245,000
• 403 E. 3rd Street #1, South Boston $1,199,000

 

#BostonCondos #BostonRealEstateEnjoy luxury living in a beautifully upgraded Millennium Place 2 bed condo. This 1,301 square foot, 2 bath homeissunny andspacious. On ahigh floor, it faces southeastoverlooking the entrance garden. Perfect for entertaining, the gracious living/dining room opens to a designer-chef's kitchen with granite counter tops, high-end appliances, wine cooler, andcenter island.This homecomes with large bedrooms, wonderfully appointed bathrooms, and in-unit washer/dryer. Its many custom features include high-end window treatments, designer lighting fixtures, hardwood floors throughout, California closets, and striking details.This pet friendlybuildingoffers a fitness center, private owners' lounge anddining room, screening room, and 24/7 doorman andconcierge service. There is one parking space (self & valet) at the RC Garage.This location is steps to Boston Common and theOpera House, and is within easy walking distance to fine restaurants, theaters, Roche Bros Market, and a full range of transportation options.See more photos and details for 580 Washington Street, #15E.See other Downtown/Midtown condos for sale.Ifyou have questions about this home, orare interested in seeing it,please call meat617-584-9790, or email me via the linkbelow.  

Boston Real Estate Headlines:

• Foreign Investment Surging in Boston
• Boston's Second Trader Joe's to Open Near Harvard Next Year
• Harbor Garage Development Plans Shrink Again
• Despite Limited Inventory Greater Boston Market Continues to Boom

Featured Boston Real Estate:

• 1597 Washington Street #512, South End $899,000
• 40 Worcester Street #1, South End $1,245,000
• 403 E. 3rd Street #1, South Boston $1,199,000

  

#BostonOpenHouses#BostonRealEstateAre you searchingfora Boston condo or single family home?Here are the Boston open houses scheduled forSaturday & Sunday, September 17 & 18,in the downtown Boston neighborhoodsand beyond.To see the locations and times, click the neighborhood links ofinterest to you. If youd like tolook beyond Boston, click the Search for other neighborhoods and towns link.Inventory of Boston condos and homes for sale is still historically low, and that can often causenew listings to gounderagreement quickly. If youreserious about buying, I recommend youget toopenhouses as soon as those properties come on the market.If you can,go withanexperienced broker (that would be me24 years and counting). That is,someone who canexpertly advise you, prepare and present anoffer for you, negotiate in your interests, and guideyour transaction throughthe various potential pitfallsthat can derail a Boston real estate deal. If you cant have me attend with you, please write my name in with yours on the sign-in sheet.In my 24 years in the Boston real estate market, I havehelpedhundreds of people buy and sell Boston condos and homes. If you need assistance, call me.

Back Bay	South End
Beacon Hill	Midtown
Waterfront	Seaport
North End	South Boston
Leather District	Fenway
Cambridge	Somerville
Brookline	Newton
Charlestown
Search for other nhoods and towns

If youhavequestions about buying or selling Boston real estate, please call me at617-584-9790, orsend me an email via the linkbelow.  

Boston Real Estate Headlines:

• Despite Limited Inventory Greater Boston Market Continues to Boom
• Millennium Penthouse Condo $35M Sale Sets Boston Record
• Millennium Tower Continues to see Multi-Million Dollar Condo Sales

Featured Boston Real Estate:

• 21 Father Francis Gilday Street, #508, South End $765,000
• 40 Worcester Street #1, South End $1,245,000
• 212 Winchester Street #1, Brookline $1,745,000
• 85 E. India Row #37 A/B, Waterfront $2,600,000