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Redefining Boston Real Estate

LRG Boston Real Estate Blog

Boston luxury real estate as it happens

Archive for the ‘Boston Luxury Apartment Rentals’ Category

A Quickly Moving Boston Condo Market

Thursday, March 22nd, 2012

By Joshua A. Golden and Craig Anne Lake

Real Estate in Boston is changing quickly

With rental rates on the rise, Boston is beginning to feel more like Manhattan. What we are beginning to see is a shift from renting to purchasing.   With inventory at all time lows, the rental market in Boston has become quite overheated, which in turn has driven rental prices up and inventories down.

Why is Boston so much hotter than other parts of the Country?

Look no further than the areas 40 Universities, dozens of hospitals, one of the country’s largest biotech communities, and of course, the huge influx of World renowned Financial Companies/Hedge Funds.  As these companies grow, so does the need for housing.

Furthermore, there is a growing trend for empty Nester’s who want to simplify their lives by moving into the city from surrounding Suburbs like Wellesley, Newton, Weston, Sudbury and Andover.  Combine that with a huge inflow of money from Asia and The Middle East and you have a recipe for a quickly moving market.

The problem has been the lack of inventory.  Due to the fact we have had a warm Winter, Spring buying has come early.
It is not uncommon to see multiple offers and sometimes bidding wars for well priced properties.

Our Advice

  1. Know the market.
  2. Know your budget.
  3. Do not hesitate if you see something you like because it could be gone tomorrow.
  4. Talk to your bank if you not a cash buyer and get pre approved.
  5. Most importantly, use ONE experienced buyers agent that knows the market.  Remember, a good agent has seen thousand’s of units and knows a good opportunity when they see one. Furthermore, they will assist you with the buying process.

Renters, Bring Your Checkbook!!!!

Monday, July 25th, 2011

The old saying, “Bring your checkbook” is more relevant now than ever.  Boston Rental Market hits an all time high. We often see 5 or 6 applications on the same apartment after one short day on the market.

By Craig Anne Lake of Luxury Residential Group

Craig Lake

Craig Anne Lake of Luxury Residential Group

Recently, I find myself apologizing all the time while I say, “I promise I am not just saying this, and I know it sounds cheesy, but if you want this property – bring your application and check in hand and be ready to turn it in…”  I hate sounding like I am being pushy, but any bit of hesitation, and you can lose a place.

I hate that Realtors are not the most respected or trusted of professionals.  I have heard us being compared to used cars salesman.  I assure you that not all Real Estate agents are the same.  Making things worse right now, is the fact that the rental market here in Boston is out of control.  Unfortunately though, if people don’t trust our judgment, they are finding themselves without a place to live.

There just isn’t that much available, and things are going quickly.  It sounds cliché coming from an agent to say it, but if you don’t act quickly on something you like, you will not get it.

I have actually had a client lose a property even with the check and application in hand and even with an insider’s recommendation and help!

It is NOT a renter’s market right now.  I am finding some properties to be $200-$500 more expensive per month this year over last year.  Specific areas are especially difficult – like the desirable South End and Back Bay areas.  The competition is intense for a great place.  There just isn’t a lot inventory and there are a lot of people searching with very similar requirements.  Last year at this time, luxury buildings were paying full broker’s fees and offering incentives like “one month free”.  It is incredible what a difference one year can make.

The sales market isn’t too shabby either.  I have had bidding wars on properties in the South End, and have seen properties go “Under Agreement” in days.

I completely understand wanting to compare and contrast and feel that you have seen everything that is out there before making a decision.  It is difficult to convince a client to jump on a place, especially if they haven’t seen a lot of places.  However, given the market, if you find something you like, you may want to swipe it up quickly because if you don’t, someone else will.

I promise, I am not just saying this… And if you still don’t trust me… The Boston Globe explains it here:

http://www.boston.com/business/articles/2011/07/25/rents_hit_record_high_in_boston_area/?page=1

If you ever thought about buying an investment property in Boston, now would be an ideal time.  Rates are low and rents are high.

Luxury Residential Group – #1 In Rentals for 2010

Wednesday, January 5th, 2011

In our first full year, Luxury Residential Group has achieved one of our goals, to be one of the best, full service, boutique brokerage firms in all of Massachusetts.  We would like to thank all our customers for their loyalty and our agents for their hard work.  Without you, we could not have achieved this great honor.

Below are the rankings, over the last 12 months, of all Massachusetts firms that do rentals.  This includes companies with over 1,000 agents.

Report Run: 1/5/2011 9:48:16 PM
Start Date: 1/1/2010
End Date: 1/5/2011
Towns: All of Massachusetts

1 Luxury Residential Group, LLC
Boston, MA 02116
37
226,590
11
51,200
106
330,220
154
608,010
191
1.24
2 Otis & Ahearn – Newbury St
Boston, MA 02116
33
221,180
57
244,070
37
136,050
127
601,300
160
1.23
3 Joyce Lebedew Real Estate
South Boston, MA 02127
75
346,350
65
157,550
22
43,750
162
547,650
237
1.12
4 Gibson Sotheby’s International Realty
Boston, MA 02118
57
251,910
84
204,334
19
51,600
160
507,844
217
1.04
5 Hammond Rental Group
Chestnut Hill, MA 02492
43
233,882
48
165,020
20
83,415
111
482,317
154
0.99
6 Coldwell Banker Residential Br
Boston, MA 02116
37
269,750
47
151,675
12
50,225
96
471,650
133
0.96
7 Otis & Ahearn – 84 Atlantic
Boston, MA 02110
30
187,700
59
192,555
22
68,700
111
448,955
141
0.92
8 Coldwell Banker Residential Brokerage – Boston – Newbury St.
Boston, MA 02116
27
170,500
24
95,800
36
140,479
87
406,779
114
0.83
9 Gibson Sotheby’s International Realty
Boston, MA 02116
19
118,510
33
127,000
23
133,300
75
378,810
94
0.77
10 Success! Real Estate
Braintree, MA 02184
94
285,738
32
46,969
27
42,000
153
374,707
247
0.77
11 Coldwell Banker Residential Brokerage – Brookline
Brookline, MA 02446
34
157,160
45
125,325
29
88,165
108
370,650
142
0.76
12 CL Waterfront Properties
BOSTON, MA 02110
41
240,500
22
80,950
12
45,525
75
366,975
116
0.75
13 Flavin & Flavin Realty, Inc.
Quincy, MA 02169
21
53,070
1
1,500
5
311,125
27
365,695
48
0.75
14 Boston City Properties
Boston, MA 02116
6
22,250
4
11,395
147
328,685
157
362,330
163
0.74
15 Keller Williams Realty
Braintree, MA 02184
11
27,550
3
307,500
5
11,050
19
346,100
30
0.71
16 Coldwell Banker Residential Brokerage – Wellesley – Central St.
Wellesley, MA 02481
28
171,900
20
91,925
22
78,220
70
342,045
98
0.70
17 Gibson Sotheby’s International Realty
Boston, MA 02109
24
120,020
74
177,630
9
25,775
107
323,425
131
0.66
18 Warren Residential Group, LLC
Boston, MA 02116
27
137,700
8
21,550
45
162,775
80
322,025
107
0.66
19 Centre Realty Group
Newton, MA 02459
23
125,940
15
52,475
29
81,400
67
259,815
90
0.53
20 Keller Williams Realty Boston
Boston, MA 02116
38
140,592
30
65,820
23
49,745
91
256,157
129
0.52
21 Coldwell Banker Residential Brokerage – Cambridge – Mass Ave.
Cambridge, MA 02138
31
164,850
28
66,460
9
24,650
68
255,960
99
0.52
22 Coldwell Banker Residential Brokerage – Boston – Charlestown
Boston, MA 02129
38
152,350
31
64,050
20
39,125
89
255,525
127
0.52
23 Boston Residences, Inc.
Cambridge, MA 02141
41
218,300
13
28,325
3
7,345
57
253,970
98
0.52
24 ePlace
Cambridge, MA 02139
31
147,460
16
44,350
7
15,075
54
206,885
85
0.42
25 Coldwell Banker Residential Brokerage – Concord
Concord, MA 01742
20
72,140
34
68,670
30
65,643
84
206,453
104
0.42
26 RE/MAX First Choice R. E.
Northborough, MA 01532
42
131,970
27
39,376
21
34,215
90
205,561
132
0.42
27 Jacob Carlin
South Boston, MA 02127
53
165,950
13
22,500
9
15,400
75
203,850
128
0.42
28 Ford Realty – Boston
Boston, MA 02114
38
135,290
21
43,845
9
24,625
68
203,760
106
0.42
29 Boston Realty NET.com, Inc.
Boston, MA 02116
26
125,930
18
45,950
10
24,750
54
196,630
80
0.40
30 Coldwell Banker Residential Brokerage – Worcester – Park Ave.
Worcester, MA 01609
53
119,850
44
49,770
20
25,445
117
195,065
170
0.40

Shaq, Call Us, Manny Ramirez’s Penthouse is For Rent – $25,000/Month

Thursday, August 5th, 2010

Manny Ramirez, has decided to put his Penthouse unit on the market for rent until the sales market in The Ritz Carlton comes back a bit. 

Here are the specifics:

  • $25,000/month
  • 4,421 square feet
  • 4 Bedrooms, 5.5 Bathrooms
  • 3 Parking spaces
  • Private outdoor space
  • Some of the most stunning views in the entire city of Boston
  • 24/7 Concierge and security
  • Ritz Carlton Service

To set up a private showing, please contact Joshua A. Golden at 617-233-5800.

living

 

 

 

 

 

 

 

 kitchen

Featured Listing
15 Henley St #F, Boston, MA Charlestown Boston, $989,000
15 Henley St #F, Boston, MA
Charlestown Boston, $989,000
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