When speaking with your Warren Residential realtor, ask about the shops, restaurants and bars located close to the condos you will be looking at. If you know that you will not be spending a lot of time in the kitchen of downtown Boston apartments, this may be more important information than whether the stove is gas or electric. Although, many residents who love to entertain, will want to make sure the kitchen looks high end. You will definitely find granite counter tops and stainless steel appliances that will impress the most ambitious chef. Since many of the restaurants also provide catering to the local area, you will want a large comfortable dining room in your Boston luxury condo where you can easily entertain large groups of family and friends. You will also find hardwood floors throughout the Boston apartments and large rooms for large furniture. Once you have finished your night on the town, come back to a peaceful and serene master retreat.

Another important aspect to look for when choosing the location of your new Boston waterfront condo is the proximity to your employment. If you plan to use the public transit system, make sure there is a location close by. If you are planning to drive your own vehicle, look for a condo that provides parking. Some of the luxury buildings also provide transportation for residents close to the down town area. All of these are important when considering which condo to purchase. Since you do not want to spend all of your time commuting to and from work – you need to find a centrally located unit that will give you the luxury you are looking for and the convenience you require.

Finally, discuss the amenities offered with Boston condominiums. You will be able to choose from a trendy loft to a three or four bedroom unit that gives you the space you need for guests and your home office. If you want a luxury master bath with a jacuzzi tub, these will be items to include on your must have list. After a long day at work or a weekend shopping, relaxing in a hot bath with relieve all of your stress. One of the best amenities of many of the Boston apartments is the dry cleaning service available for a monthly charge. If you do not have the time or patience to deal with these types of chores, find a building that offers this great service.

Once you have found the perfect condo in downtown Boston, begin enjoying all the city has to offer. Whether you are entertaining friends in your loft apartment or stopping by one of the night clubs or cafes, you will be glad you live in the Battery Wharf area.

Open for skating from roughly mid-November until mid to late March, the Frog Pond is on the north-eastern end of historic Boston Common. Home to the Skating Club of Boston, this is where young and old can learn to navigate around the ice in either group or private lessons, or in public free skates. New Years Eve at Frog Pond means skating, of course, along with fireworks and vendors selling hot chocolate, roasted chestnuts and other delectable tid-bits. Best of all, the pond, and all that winter fun, is within walking distance of some prime Boston real estate.

Even if you don’t feel like skating, take a walk through the woods to the onsite winter-only Frog Pond Café. Enjoy gourmet coffee and a selective menu as you dine outside under giant heated umbrellas. During the spring and fall months, Frog Pond becomes a reflecting pool, and in summer a refreshing spray pool accompanied by a children’s carousel. If a Boston relocation is in your future, this is a perfect place to get a feel for one of the city’s most cherished neighborhood open spaces.

Boston Commons is the city’s largest and oldest park and dates back to 1634. Having weathered the trying times of the Revolutionary and Civil Wars, the park is a cherished historic site. Today the tree-filled grounds and zigzagging pathways are surrounded by luxury condominiums and apartments, as well as name brand high-end hotels. The Five-Star Four Seasons Hotel Boston is on the western end of the park. To the east is the ultra modern 45 Province condo tower with its floor-to-ceiling windows and dynamic city and Charles River views. Another offering is 360 Newbury St., once called the Tower Records Building, specializing in Boston loft style condos in a prime Back Bay neighborhood locale.

Massachusetts General Hospital is to the northeast, the Massachusetts Institute of Technology is a short drive across the Charles River and prestigious Northeastern University is to the west. Iconic Fenway Park, home of the Boston Redsocks Major League Baseball Team, is a little farther west near a large park called the Bay Back Fens, surrounded by many Fenway luxury condos. The Charles River Reservation IV is another public park fronting the river basin, offering more opportunities to bike, jog or just enjoy the timeless views. More luxury Boston condos and apartments may be found along the waterfront near and in the colorful Back Bay neighborhood, listed on the Registry of National Historic Places

Prudential Center sits right off Interstate 90, close to the Boston Back Bay train station. The Top of the Hub Restaurant offers an impressive skyline view and superb service from the top of the center’s Prudential Tower. This is the same building that hosts the Skywalk Observatory, famed for its 360 degree view of the Boston area. The observatory is so high up that you can see the curve of the earth.

Ethnic eateries, quaint pubs, including the one called Cheers that inspired a mid-1980s TV show, and the obligatory Starbucks are also part of the local dining scene. Dine on coconut chicken at Thai Basil one night and peruse the wine-list and fresh-fish menu at Skipjack’s the next. You can always take a stroll down to the frozen Frog Pond and wrap your hands around a steaming cup of brew while making up your mind.

The Boston W Hotel still has 71 luxury condo units available.

Earlier this week, W Boston Hotel and Residences developers won in court to exit bankruptcy, but under the condition to sell 71 unsold condos in the Boston luxury building to cover its debts.

U.S. Bankruptcy Court Judge Joan Feeney approved SW Boston Hotel Venture’s plan for reorganization amidst protest from top creditor Prudential Insurance, which shelled out more than $181 million for the project.

With the ruling, SW Boston Hotel Venture will be given the opportunity to pay creditors in full.

The W Boston Hotel is a 235-room hotel and 123-unit luxury condo tower that was built in October of 2009, but found itself bankrupt by April 2010 after unsuccessfully selling condos to keep revenue flowing into the Theater District project.

Efforts by Prudential to foreclose the building were rejected as well as the company’s objections to the plan for reorganization.

SW Boston plans to pay back the $52 million it owes to Prudential through the cash earned from condo sales over the next three years, then repay $10 million to the city of Boston in a loan they owe, and move on to the lesser amounts to other creditors.

Currently 52 units have already been sold with another eight under agreement.  There are still many more Boston luxury condo units available at the W Boston Hotel.  If you are interested in any of these properties and would like to know more, please contact our Warren Residential offices today and let our expert real agents help you!

URL of original post:  http://www.warrenre.com/blog/2011/09/08/dna-lofts-boston-condo-auction-save-up-to-55-starting-at-116000/

About the DNA Lofts:

• Contemporary Kitchens and Bathrooms
• 10′ to 16′ ceilings
• GE Stainless Steel Appliances
• Washer/Dryer Hookups
• Granite Counters
• Wood Floors
• Many homes with private terraces and balconies
• Deeded parking
• Community Room
• Landscaped Courtyard and Patio
• Walking Distance to Red T line (JFK/UMASS)
• Close to major highways
• Minutes from Boston Medical Center

For more information about the DNA Lofts Auction or other real estate in Boston, contact Warren Residential Group today!

Refinancing

According to vice president of research and economics at the Mortgage Bankers Association in Washington, D.C., Michael Fratantoni, mortgage refinancing is expected to experience a “very steep drop.”

Homeowners with ample equity, steady employment, and sterling credit have most likely already refinanced at least once in 2009 or 2010, which locked in low fixed rates, leaving little to no incentive to refinance in 2011.

Those who haven’t refinanced in the last two years due to inadequate equity, unstable employment, or impaired credit probably won’t do so this year either. While still-low interest rates may create an incentive, those same challenges remain to be surmounted.

Homes Loans

Unfortunately, its no secret that it is harder to qualify for a home loan today than it has been in the past, and it seems unlikely this will change any time soon.

Tight lending guidelines are the result of lenders’ new, more conservative attitude toward the risk of bad loans and the possibility that people will force them to repurchase sold-off loans. When this happens; when lenders are forced to buy back loans, they lose money.

This leads to lenders being that much more cautious when asking for voluminous documentation, such as multiple credit checks, income verifications, and appraisals.

Home Buyers

Low mortgage rates and fallen prices that make homes relatively more affordable to purchase mean now should be a great time to buy. There are plenty of homes on the market, and the possibility of future inflation could boost home values when looking at long term.

However, many might-be buyers remain dubious due to near-term doubts about the wisdom of buying a home. In a third quarter survey, 33 percent of those asked said they were more likely to rent rather than buy their next home.

Despite the Federal Reserve’s efforts to keep rates low, there has still been a recent rise in mortgage interest rates, a potential alarming fact for those looking to buy in the next few years. This does mean, however, that it could be better to buy sooner rather than later. (If rates go up, prices will come down, but it’s still better to lock in at an 8 percent loan than the possibility of it going down to 3.8 percent.)

While some of this information could seem alarming, it is important to remember these are predictions and not facts. An upside seems to be that renting could be a viable option, at least for a few years. The Warren Residential Group is an excellent resource whether you’re looking to buy Boston real estate or are looking into a Boston rental in the greater Boston area, so contact an agent today to schedule a viewing.

Not every For Sale by Owner seller is to be criticized, many are knowledgeable and fair.  The risk, however, lies in those that are not acting in the best interests of the buyer, the property, or the neighborhood.  The simple fact that For Sale by Owner sellers are not required to divulge information (good, bad, or irrelevant) about the property lends to the fact that all real estate transaction should involve and buyers agent and a sellers agent.  Such an important transaction should not be left in the hands of a stranger with no obligation to you.

Warren Residential Group has some of the most qualified and experience agents that would love to help you find your next home.  Feel free to check out our current listings. Please contact us to learn more about finding your dream home or click here to learn about our customized marketing plans and some of the techniques we use to sell your home.

For the majority of cities and towns in Massachusetts, home sales have hit a 20 year low, with July home sales falling 26% over the past year.  Here is a list of the 10 Massachusetts towns that have stomped on these statistics and weathered the economic storm.

(Percentages represent increase in sales compared with July 2009)

Cohasset- 130%

Norwood- 117%

Chatham- 100%

Bedford- 78%

Dennis- 41%

Easton- 27%

Brookline- 20%

Melrose- 20%

Hingham- 18%

Marblehead- 18%

Not only did Brookline real estate experience a 20% increase in sales, but this small city also saw an increase in median home prices by 14.5%.  Experts attribute Brookline’s success to its many shops and accessible public transportation. Boston’s young professionals and recent college grads also help make this area recession-proof.

Check out Warren Residential’s online listings of Brookline apartments and condos. You can also view the full article here.

‘Potential’ is all about maximizing your investment dollar and is measured largely by foreseeable changes that will make the area more convenient and desirable, and therefore increase the value of your home in time.  The article uses Somerville as an example.  While not widely considered to be one of Boston’s most attractive locations, it is becoming increasingly popular, due in part to the pending improvements of public transportation with the extension of the MBTA Green Line.

The prospect of such improvements weighs heavily with those who value potential in their real estate investment.  Other area improvements such as new restaurants and stores in Davis Square and other parts of Somerville also indicate that the area is ‘up-and-coming’ and a good investment.  Many neighborhoods of Somerville are often already compared to Cambridge Real Estate, for example.

On the other hand, there are those who believe that the future potential of a currently-less-desirable-location is not worth sacrificing the convenience or piece of mind that comes with investing in an already-established area.

These individuals might feel more comfortable investing in a less impressive home in a more affluent neighborhood in order to stay within their budgetary constraints and live in a location they desire.  For example, would you rather live in a Boston waterfront condo, or for the same price, purchase a home in Dorchester that is three times as large?

In order to determine what will drive your Boston Real Estate search, you should create a list including your ideal area amenities and your ideal property features, and then determine what you value most in each category.  Once you’ve determined what matters most to you, you can use your list and your budget to help guide you in your search for a new home.  You may find you are willing to live further from the city in exchange for a private parking spot, or decide that you’d rather pay the extra money to live in the city and have a shorter commute, etc.

An experienced Boston realtor can help you weigh the costs and benefits of the ‘location’ and ‘potential’ of the properties you are considering investing in.  The realtors at Warren Residential Group have the experience and knowledge to help you find a home that suits your needs and fits your budget.  Contact us today for assistance or uses our Sales Search Tool to browse our large inventory of Boston and Greater-Boston homes for sale.

Source Article here.

Other statistics reflect this currently successful real estate market: there is a 2.6$% increase in the median home price range from last month, now $290,000 from $282,520 from May of 2009. Additionally, condo sales have also increased 24% to 1,950, as compared to 1,570 in May of 2009.

If you are thinking of purchasing a home, now’s the perfect time to browse our listings and contact us for a showing! Pictured below is one of our units available in the Back Bay – click here to read more about this listing.

Source article:  Boston Business Journal

Additionally, we have sped up our foreclosure process – from petition to auction – to 138 days, down from 234 days in 2008. Timothy Warren, the CEO of The Warren Group, credits the facilitation of foreclosure to the familiarity of government foreclosure programs.
Read the full article here.