‘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.

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First off, it may be helpful to likening staging your home to that of literally staging a theatrical production. As the “director”, you have to use a critical eye to create an ambience via open space, décor, and furniture. When done correctly, you can create this feel for your buyers that can persuade a purchasing decision.

For example, the layout of rooms can generate ideas of how buyers can use the space. Where did you put the couch in relation to where you could put the TV? Is a mass of electrical cording indicating lack of outlets? Is that single computer on the office desk in front of a light-streaming window, which is reminiscent of model home catalogue? Anything that can be perceived as cramming to its limit can unconsciously make buyers feel uneasy. This is especially true for the snooping buyer who goes into an overflowing closet. A neatly organized office or living space conveys a feeling of accomplishment and success, as buyers feel as if they can get things done in your home. Something as simple as this can lead to an offer.

Here are three tips you can use to stage your home:

• De-clutter: Clutter is a give-in with any home, as we tend to accumulate over the years. However, it can be a huge distraction to potential buyers, as it’s difficult to imagine a home without the clutter.
• De-Personalize: Personal photos or trinkets can also hold more time and attention of your buyers than your actual home. Store these items temporarily, or pack them up – aren’t you moving soon?
• Brighten and Lighten: This goes back to the look of the model home catalogue, and going for that ideal atmosphere and aesthetic. A dark house with mood lighting can be good for your personal, creative ambience, but bright light is best for showing your home.

In following these simple things, you can improve your chances of selling your home through home staging. You want the potential buyers of your Boston loft to envision their life there – and to make you an offer!

View the full article here.

(Image is from a WarrenRe listing – click here for full listing details!)

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This is really exciting!  The American Brewery Lofts are a true Boston loft building located in Jamaica Plain.  The units are carved out of an old brewery from the early-mid 1900’s.  Here are some details on this Boston Auction:

• Up to 57% off of original asking price!
• Put as little as 3.5% down
• Perfect for first time home buyers!
• Comes with parking
• $500 Cash back at closing if you use Nick Warren as your buyer’s agent!

These Boston loft units feature:

• Ceiling heights of 9′ to 23′!
• Exposed Brick
• Loft Areas
• Large Windows
• Washer/Dryer Hookups
• Fitness Room
• Professional Management
• Stainless Steel Appliances

How Does this Work?

• Call or email Nick Warren at nwarren@warrenre.com or 617-933-9776 to setup a preview of the Brewery Lofts prior to Friday June 25th.
• IF YOU REGISTER WITHOUT ME, YOU CANNOT QUALIFY FOR THE $500!  SO MAKE SURE YOU CALL ME TO GET YOUR MONEY!!
• At the preview you will receive condo docs and budgets if you want to register for the auction.
• After you visit the American Brewery Lofts with me, you can go back on your own as many times as you’d like.
• Auction day is 11:00am on Saturday June 26th at the Colonnade hotel in Back Bay (YOU MUST BE REGISTERED PRIOR TO THIS DAY TO ATTEND THE AUCTION)

I know you will have many more questions about the auction at the American Brewery Lofts so please don’t hesitate to contact me at 617-933-9776 or nwarren@warrenre.com for answers and to schedule a preview!

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I thought that with the sales season under way, that I would share some tips for home purchase and ownership:
1. Get your financing in order
Given tighter lending practices — and that it’s a competitive buyers’ market — would-be buyers need to have their ducks in a row so that they’re ready when they see the right home.

2. Understand your time horizon

As a shorter-term buyer, you might consider whether the place is a good investment, and if it’s the kind of property that’s going to be attractive for the next buyer. “What concerns you now is going to be a concern in a few years,” Hillman says. A house near train tracks, for instance, is probably not what most people are looking for.

3. Know the overall market conditions
Investigate what comparable properties have sold for over the past three to six months, Dwyer advises. If you’re working with a buyer’s agent, he or she should know what fair-market value is, not just the list price.

4. Search and buy within your means This bit of advice is always true, but if the housing crisis has taught us anything, it’s that buying with the expectation that prices will continuously go up — and that if you can eke out the payments each month, you’ll be in a good spot in the long run — isn’t such a good idea.

5. If you’re waiting for prices to go lower, think again
Real estate is a bit like the stock market, in that it’s unpredictable. Though some people might be waiting on the sidelines for housing prices to dip lower, she says, “looking at the numbers, I can’t see them continuing to go down.”

6. Don’t get too sucked in by appearances
Buyers should keep in mind that many sellers will try to present their homes in the best possible light. “If the house has been staged, what [potential buyers] forget is that all that stuff is going out when [the sellers] leave. Sometimes you’re better off buying something that needs a little decorating, because it’s going to take on your own look anyway.”

7. Have questions prepared
Sellers and their agents should be prepared to answer questions including how old the roof, heating system, hot water heater, and windows are; if the basement has taken water in the time the seller has been there, and if there’s a sump pump; and what utilities and homeowner insurance generally cost.

8. If you’re thinking of buying a brand new house…
Consider that a home that’s been lived in has been tested. The seller will be able to tell you if the basement takes on water in a rainstorm, for instance.

9. If you’re buying a condo, know the rules
Condo lending rules have become more stringent, making it difficult for some would-be buyers to get financing. Lenders generally want buildings to be at least 50 percent owner-occupied, Dwyer says.

10. Think about a home’s intrinsic value
The downturn in the housing market and the uncertainty about where it’s headed may lead people to think less about picking up an incredible bargain in the hopes of making a huge profit and more about the home in its own right.
“[Buying a home] has always been a consumption decision and an investment decision,” says Nicolas Retsinas, director of the Joint Center for Housing Studies at Harvard. In recent years, “we moved that dot along the continuum, and it became an investment decision.”
“Questions such as ‘Is this where I want to raise a family’ and ‘Is this close to the things that are important to me’ will factor more into the decision,” he says.

With this info in mind, browse some of our listings available and make an appointment today!

(This list compiled by Ami Albernaz, a Boston Globe Correspondant. Read the full article here. )

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Instead, it could be as little as two years. In a bulletin to lenders April 14, mortgage giant Fannie Mae said it is relaxing its previous rules that prevented loan applicants who have participated in short sales or deeds in lieu of foreclosure from obtaining a new mortgage for extended periods of time. The new rules are scheduled to take effect July 1.

Homeowners who’ve done short sales – such as under the Obama administration’s new Home Affordable Foreclosure Alternatives program – will also be able to qualify for a mortgage in as little as two years. Though Fannie Mae officials declined to discuss the reasoning behind the changes, the bulletin to lenders said the company hopes to encourage troubled borrowers to work out solutions that avoid the heavy costs of foreclosure.

If  borrowers can demonstrate that their mortgage problems were directly attributable to “extenuating circumstances” – such as loss of employment, medical expenses or divorce – they may be able to qualify for new loans with minimum 10 percent down payments in just two years. Housing and consumer counseling advocates welcomed Fannie’s relaxation of rules that had penalized borrowers who lost their houses following layoffs, illness and other unforeseen catastrophic financial events.

“This is a positive move,” said Marietta Rodriguez, director of homeownership and lending for NeighborWorks America, a national nonprofit network created by Congress to assist with homeowner financial counseling and community development.

“We all know that there are many people who through no fault of their own have to sell” – but were blocked from repurchasing a house for four years or longer, even though they’d rebuilt their credit, had qualifying incomes, and were fully capable of handling a mortgage responsibly.

(Source:  HARNEY, KENNETH R.: The Nation’s Housing. April 25, 2010)

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Back Bay Apartments:

2 Bedrooms across from the Mandarin Oriental $3500-6500:

These beautiful Back Bay apartment rentals have been completely renovated for 2009.  Brand new stainless steel appliances with gas cooking can be found in all the kitchens.  Beautiful gas fireplaces are in every one of these Back Bay apartments as well.  Each unit has a balcony to enjoy drinks on as well as a beautifully landscaped common roof deck, perfect for the 4th of July!

South End Apartments:

2 Bedroom, 2 Bathroom Lofts in the South End for $3250:

This particular South End Loft is a Penthouse 2 bed with private deck located in the hottest section of the South End. The unit features cherry hardwood floors and granite counters with stainless steel appliances. The rent includes ac and it has a washer dryer in the unit.

Beacon Hill Apartments:

Beautiful Beacon Hill rental along Mt. Vernon St. featuring 2 bedrooms and 2 bathrooms for $5000:

Truly a one-of-a-kind luxury, furnished apartment available for a short or long term lease (6 mo min requested but not required). The beautifully decorated, extremely large apartment boasts nearly 1700 square feet, 7 rooms, and the living room features 12+ foot windows and 14 foot ceilings. The bedrooms are situated wonderfully to provide a quiet setting with an abundance of space and light, and the living room is expansive beyond belief. Less than two blocks from the Boston Common, the apartment is located on one of the most beautiful and quiet streets in Beacon Hill.

Ritz Carlton Apartment Rentals:

2 Bedroom, 2 Bathroom with Balcony for $4550:

This beautifully renovated 2 bedroom, 2 bathroom apartment at the Ritz Carlton in downtown Boston is available immediately for $4550 per month.  It features granite counter tops, new Tiger Wood hardwood floors, and a great balcony off of the master bedroom.

There are plenty more where these came from but this should give you a good taste of what you can get out there.  We have units ranging from $1200 studios to $30,000 penthouses so no matter what your budget is, we can help.  Give us a call at 617-848-9616 ext. 2 or email us at rentals@warrenre.com.

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This Boston area Loft features:

• 800 sq. ft. private deck
• 1569 sq. ft. of living area
• 3 bedrooms
• 2.5 bathrooms
• Soaring ceilings
• 2006 conversion
• 285 sq. ft. storage room
• Computerized shower
• 2 garage parking spaces
• $300 condo fee

Asking $565,000

Address: 75 Park Street #15 Medford, MA

Please give us a call at 617-848-9616 ext. 1 or email us at sales@warrenre.com to schedule a showing of this amazing luxury property!

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FP3 2 Bedroom Penthouse

$3600 (was rented for over $4000 last year!)

• 1100 sq. ft.
• 300 sq. ft. Private Terrace
• Granite and Stainless Steel Kitchen
• Flat Screen TVs Included
• Gas Lynx Grill on Terrace
• 2 Full Bathrooms
• Walk-In Closet

FP3 1 Bedroom Penthouse

$3000

• 1.5 Bathrooms
• 816 sq. ft.
• 300 sq. ft. Terrace
• Flat Screen TV
• Lynx Gas Grill on Terrace
• Great Closet Space

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I am a huge fan of lofts.  In fact, I live in one myself and love it.  Some of Boston’s best lofts can be found in the Seaport District just over the Fort Point Channel.  Today we are going to focus on 25-35 Channel Center Lofts.

25 and 35 Channel Center were constructed/renovated in 2005.  25 Channel Center was completely constructed from the ground up while 35 Channel center was converted from an old brick and beam warehouse.  25 Channel features a more modern clean design with large windows and many duplex units with views of downtown Boston.  Many of the lofts at 25 Channel feature private balconies as well.  The penthouse lofts at 25 Channel Center are some of the nicest lofts I have seen anywhere in the city with most being corner units with soaring 25′ ceilings!  Most of the lofts at 25 and 35 Channel center come with parking.

35 Channel Center features more traditional brick and beam loft homes.  Many of these homes have ceiling heights of 15+ feet creating amazing cubic square footage.  Some of these lofts are wide open with no division of rooms while others have been designed with more privacy in mind.

Features and Amenities of 25 and 35 Channel Center Lofts:

• New Construction (2005)
• Modern Design (25 Channel Center)
• Brick and Beam Design (35 Channel Center)
• Hardwood or Concrete Floors
• 15-25′ Ceilings
• Garage Parking (some units)
• Concierge (25 Channel Center)
• Pet Friendly Lofts
• Convenient to South Station

For more information on Channel Center Lofts please call a Warren Residential Group agent at 617-848-9616 or email at contact@warrenre.com

For current rental and sales listings at 25 and 35 Channel Center, please CLICK HERE!

For all of Boston’s Seaport listings please CLICK HERE!

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Unit 303 at Riverbank Lofts – $399,000

I’m proud to announce a new listing of mine at Riverbank Lofts in Watertown.  Unit 303 is a 1 bedroom plus den corner loft with 1068 sq. ft.  The lofts 60′ of windows offer stunning views of the Charles River and provide a South/West exposure providing great afternoon sunlight.  The bedroom is in a lofted mezzanine level and provides enough room for a queen bed.  The den/office area is perfect for the person working from home or looking for a seperate space.  The kitchen features granite counter tops and a stainless steel appliance package.

View Virtual Tour Here! – Virtual Tour

Amenities and Features of unit 303 at Riverbank Lofts:

• 2 Parking Spaces
• 1068 sq. ft.
• 1 Bedroom Plus Office/Den
• 1 Bathroom
• 15-17 Foot Ceilings
• Over 60 Feet of Windows!
• In-Unit Laundry
• Central A/C
• 2006 Construction
• Bike Room
• Common Patio

For more information on this listing or any other Boston area loft listings, please contact Nick Warren at 617-933-9776 or at nwarren@warrenre.com

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