Boston's Real Estate Expert

We've Moved!

2011-08-25T07:30:00.001-07:00

We've moved! You can find our new blog at GibsonSothebysRealty.com/blog. Please remember to update your bookmarks.

You can also find us on Twitter and Facebook as well.

Boston.com Features Gibson Sotheby's Agent, Luxury Home

2011-03-03T13:14:00.000-08:00

Gibson Sotheby's own Tammy DeWolf was recently interviewed by the Boston Globe.

One of her active single family homes, 1 Rich Road in Milford, was featured as part of a spotlight on luxury homes in the Bay State with dedicated home theaters.

The theater in this lovely home is noise-insulated and features wood trim framing around the big screen in a wonderfully finished basement.

Tammy DeWolf can be found on Facebook. She works in our Westwood office and specializes in Single Family Homes, Condominiums, Land and New Construction.

How's the Market: Condos in Boston with Brian Perry

2011-03-01T08:39:00.000-08:00

I recently sat down with Brian Perry, a real estate agent in Gibson Sotheby’s South End office. He does a lot of work with developers and sellers interested in condos in the Boston area. We chatted about the state of the condo market in the South End, Back Bay and Boston in general.

Boston is one of the most unique metropolitan areas in the United States. We’re an older city with a great selection of condos. Whether you’re looking for upscale luxury properties or older homes with antique charm our city has it. Wintston Churchhill once famously called Commonwealth Avenue in the Back Bay “the most beautiful street in the world,” speaking of course of all the beautiful Brownstones.

Like the rest of the country, Boston suffered during the recent real estate slump. Many potential sellers holding off on putting their homes on the market, for fear of low pricing. Many of these sellers opted to either wait until the market improved or opted to rent out their vacant condos.

“But the market is recovering,” Brian said during our chat. “We are seeing promising signs. Since the first of the year we have seen some really good activity, particularly in the $700k - $1.3m range. I had several listings go under agreement in the last month.”

“These properties,” Brian continued “they’ve been going under agreement very close to asking price. We’ve also been in multiple offer situations, which is great.”

Several local and national publications seem to agree with Brian’s assessment. The Boston Globe revealed in a recent story that the condo market in Boston is faring very well. Sales have increased by 3.8 percent and median selling prices rose by 5.4 percent over last year.

Sales in luxury buildings also jumped by an impressive 22.15 percent in 2010 compared with the previous year, according to Listing Information Network, a local company that tracks condo sales in downtown Boston.

“There has also been a big uptick in developer activity.” Brain told me as we discussed the topic. “Condo projects that were once stalled seem to be coming back to life. We haven’t seen this in several years. I’m not just talking about small 3 - 6 unit buildings, but 20 - 40 unit developments, too. A lot of these units have been selling preconstruction, too. This is a great sign for the coming spring market.”

Our outlook for the coming year in Boston condos? Very positive, if recent trends continue. We’re looking forward to a pretty good market; regardless of if you’re looking for a luxury condo or an antique masterpiece.

Brian Perry can be found at brian-perry.com and on Twitter @BrianPerryRE. He serves Boston neighborhoods with over fifteen years of real estate experience.

Americans Agree: Owning a home benefits everyone

2011-02-15T07:25:00.000-08:00

According to a recent study by The National Association of REALTORS the majority of renters and homeowners alike agree that owning a home strengthens the American economy and benefits families as well as their communities.

Looking at the recently released statistics it is clear that most Americans can agree on one thing: owning a home is a great investment over the long term. This is despite a challenging job market and numerous other economic factors that have impacted the housing market over the past several years.

The biggest piece of news in this study is the sense of community that homeowners have reported. When asked "How well do you know your neighbors?" by NAR, 6% of homeowners responded with "extremely well." Only 2% of renters responded the same. 19% of homeowners responded with "very well."

The most surprising result falls within the "not at all well" field, where 35% of renters claim that they have little, if any connection with their neighbors. While these results are somewhat anecdotal, it's clear that many homeowners feel a stronger connection to their neighbors and by extension, their community as a whole.

Homeowners demonstrate their strong connections to their communities in other ways, too. Not just on a local scale, but a national scale as well. When polled, 86% of homeowners responded that they always or often vote in national elections. 78% responded that they often or always vote in local elections.

Despite the recent economic difficulties, most respondents report "not at all worried" when asked if they will be able to make their rent or mortgage payments throughout the coming year. This demonstrates that Americans (both renters and homeowners) in general have an optimistic outlook for the future. Although homeowners are 6% more confident in being able to make their mortgage payments. This is a small difference, but it is one worth noting.

What does this say about the market? Americans agree that owning a home is a smart decision for their financial future, whether or not they owned a home when polled. In today's market, many aspiring home owners face worries about job security and being able to qualify for a home loan. While these are indeed large obstacles, most seem to face the challenge with overall optimism. Few homeowners are worried about making their mortgage payments.

Furthermore, while there are always exceptions to the rule renters who upgrade to their own homes tend to develop a stronger sense of pride in their communities and tend to foster larger economic growth than their counterparts. This not only benefits the individual, but the area as a whole.

Guest Post: Boston Real Estate Market Report

2011-02-14T08:10:00.000-08:00

(This was originally posted on Joe Wolvek's Blog. Joe has helped clients in the Back Bay, South End, and other downtown neighborhoods as well as Brookline, Cambridge, and other inner suburbs since 1992. He works with Gibson Sotheby's International Realty.)

The market right now is characterized chiefly by tight inventory. Last year at this time, in the downtown neighborhoods of Boston (see above), there were about 1038 condominiums on the market. This year, it's about 855, which is about 18% fewer. As a matter of fact, in the South End, inventory hasn't been this tight since 2000.

This makes it an opportune time for sellers who have reasonably priced, attractive properties (as opposed to overpriced, unattractive ones which will hang around for quite a while). I have seen several really nice properties, mostly in the $400,000 to $600,000 niche come onto the market and sell at the first open house.

My feeling is that as we move forward, even into this month, we will see increased good quality inventory and increased sales activity. I've been impressed by the number of buyers venturing out to open houses and to showings, but there's not much to buy right now in that price range. If you've been out there looking, you know what I mean. Look for that to start changing before the month is out.

The higher end of the market appears to be demonstrating increased activity. Between

10/1/2010 and 2/8/2011, 122 $1m+ condos sold in the downtown neighborhoods as compared with 103 the year before and demand appears to be increasing. The continuing problem (for these sellers, at least) is that there is still a very large supply, given the fact that there are 3 luxury towers with many unsold units, although they are beginning to sell at a faster clip.

Another positive sign is that there are about 30% fewer resale units at the Ritz Towers Boston than about three months ago (21 as compared to 30).

The Clarendon Back Bay is now about 50% sold out with approximately another 10% under agreement. This is really not that surprising given its superb location and finishes. It really is an impressive project. In my opinion it's the best new building in Boston (Mandarin Oriental notwithstanding)

45 Province has a longer road, but they've had some new activity, and they claim to have a three year financing agreement, giving them some time on the sellout. According to LINK, about 23 of their 150 unts have closed.

The Residences at the W Boston is in foreclosure hearings. The judge will more than likely rule by the end of March. About 27 of their 123 units (22%) have closed. While it's a very good quality project, I think the location has had a dampening effect on sales, given the premium prices of the units.

The links to the left on my blog will give you additional info on the individual neighborhoods. If you'd like to comment on any of this please visit. Let me know what you think.

Good News for the 2011 Housing Market

2011-01-31T12:29:00.000-08:00

According to USAtoday.com and a variety of other sources, the housing market is expected to do well in the upcoming season. "Building permits for new single-family homes rose 5.5% last month, the third consecutive monthly increase and the strongest showing since March, the Commerce Department said."

The market will rise slowly and steadily, especially in Boston, where housing values thrived even through economic challenges.

Boston-Based Real Estate Firm Completes Seventh Acquisition

2011-01-05T06:20:00.000-08:00

Weston Firm Joins Gibson Sotheby’s International Realty

WESTON: Gibson Sotheby’s International Realty announced today that it has acquired Prudential Wilmot Whitney of Weston. Peter and Barbara Casey started the firm in 1991 and have been servicing the Weston community for nearly 20 years. “We saw this as a wonderful opportunity to do more for our agents and clients. We have a very positive feeling about the future.”

“This is a company that fits our culture and our goal to offer the best service to our clients,” said Larry Rideout, CEO and Owner of Gibson Sotheby’s International Realty. “We have now acquired seven companies in four years – all during some of the most challenging economic times in history. Each of those acquisitions has made our company better, as we have enhanced their services to their clients.”

Gibson Sotheby’s International Realty now has eight offices in and around Boston and nearly 200 agents. The firm had its highest sales volume in its 48 year history in 2010.

Region’s Real Estate Market Suffers from Lack of Inventory

2010-12-07T12:37:00.001-08:00

December 2, 2010 – BOSTON: Amid the recent stories of a slow recovery in the nation’s real estate market, Boston area real estate agents are battling with a different challenge – a lack of inventory. They have an active pool of qualified buyers – but not enough homes for them to buy.

“We are used to being ahead of the curve,” said Michael Hansen, Owner of Gibson Sotheby’s International Realty. “Boston tends to recover from economic dips before most of the country. That is what we are seeing now.”

In the last six months, Boston has seen a lot of movement at the higher end of the market. Experts attribute that to “smart money” re-entering the market. (Smart money is the term used to describe the more affluent and savvy investors.) That movement in the higher price points has been followed by improving home sales at other price ranges. And, with all that activity, the supply has dwindled. “We have a lack of inventory,” said Nick Russo, a veteran real estate broker of more than 30 years. “I have clients who are ready to buy in the South End, but there aren’t enough units out there.”

“I have been working with clients searching in the Back Bay for a $2.5 million home,” notes real estate agent, James Plasteras. “It has been a challenge to get a pool of homes that work for them. And I am seeing that at other price points, as well.”

Karl Case, of the Case-Shiller Home Price Index, shared his predictions at a lecture in Boston this week. “I don’t think we’ll have a double-dip,” said Case. His prediction is for a continued recovery in the market, with the northeast coming out of the recession ahead of the rest of the country.

“What we need now are listings,” said Hansen. “If anyone has been considering selling their home, now appears to be the time to get it on the market, because there are definitely buyers who are ready to move.”

Revamp your Space with Unique Lighting

2010-12-06T10:33:00.000-08:00

Whether you're trying to furnish a grand foyer, a small studio apartment or your home office, good lighting can make all the difference. Why limit yourself to boring halogens or standard fixtures when there are so many options to choose from across a wide range of budgets? Here are some of our favorite lighting options:

PS MASKROS Pendant Lamp, $89.99

Candela Lights, starting at $39

Cluster Pendant- $199.00

Lalique Collection Pendant- $895.00

Go Green and Save Money this December

2010-12-03T12:20:00.000-08:00

If you haven't yet, it's time to look into energy efficient products and renewable energy systems for your home. Not only will you save money in the long run, you also may be entitled to a tax break.Want to learn more? Engery Star has a ton of helpful information on their website about how to apply, when to apply and much more. The deadline is December 31, so act fast!

Looking for more tips to go green this year? Here are a few of our favorite sites:

Best Green Home Tips
The Green Guide
HGTV Green Home

Have a tip for going green and saving money? Let us know in the comments.

Sotheby's International Realty exclusive magazine now available

2010-10-29T08:34:00.000-07:00

Sotheby's International Realty just released its latest version of RESIDE - an exclusive publication for luxury homes around the world. Check out the online version here.

Reside Locale features homes for sale in Massachusetts

2010-10-29T08:30:00.000-07:00

This stunning New England magazine called RESIDE locale features several luxury homes for sale in Massachusetts. Check out the online edition here.

Boston neighborhood: Jamaica Plain's Lantern Parade

2010-10-29T06:36:00.000-07:00

Video: Sotheby's International Realty Leadership Forum

2010-10-28T14:03:00.000-07:00

Boston real estate CEO visits the International Leadership Forum

2010-10-28T07:05:00.000-07:00

This week Sotheby’s International Realty hosted the International Leadership forum in Atlanta, Georgia. Boston’s own Larry Rideout was asked to participate in a panel discussion of six owners of international luxury real estate offices. Rideout noted, “This luxury brand works for homes of every price point.”

CEO of Sotheby’s International Realty Affiliates said, “I’m very excited about the growth of Gibson Sotheby’s International Realty. This company has embodied what the standards of this brand are all about.”

For more information on Boston’s leading luxury real estate company, go to GibsonSothebysRealty.com.

Luxury at Boston's Ritz

2010-10-13T10:09:00.000-07:00

This gorgeous home at The Ritz in Boston offers luxury amenities and amazing views. Watch this video to get a better sense of this stunning condominium home, listed by Kyle Kaagen Hancock.

Luxury living at The Ritz

Pending home sales up a second straight month

2010-10-12T09:35:00.000-07:00

The National Association of Realtors says that pending sales indicators are showing upward movement for the second straight month. This is a forward-looking indicator – showing what is about to happen in the market, rather than recording what happened over the last 30 days, as do most statistics.

The Chief Economist for the NAR sees this as a positive sign. “Attractive affordability conditions from very low mortgage interest rates appear to be bringing buyers back to the market,” he said. “However, the pace of a home sales recovery still depends more on job creation and an accompanying rise in consumer confidence.”

For more information on the Pending Sales Report, go to Realtor.org.

Renovations that make sense

2010-09-28T13:20:00.000-07:00

It is so tough as a homeowner to know which renovations will have a high return on investment. This weekend, Frank Celeste was quoted in Boston Magazine regarding how he counsels clients on their decision making. After decades of experience in Charlestown, the South End and Back Bay, Frank has seen lots of renovations and how they’ve affected the home’s sale price.

To read the article go to Boston.com, or go here for Charlestown homes for sale or Back Bay homes for sale.

Gibson Sotheby’s Joins the Effort to Help End Hunger

2010-09-17T13:11:00.000-07:00

Gibson Sotheby’s International Realty is participating in a fundraiser for the Greater Boston Food Bank. The memorable event will be hosted by RHD&D at their newly completed luxury home and will feature the following local chefs: Michael Schlow of Radius, Evan Deluty of Stella, Andy Husbands of Tremont 647, and Tim Fonseca of Four Seasons Hotel Boston.

One Starry Night - A Celebration to Help End Hunger
Wednesday, September 22, 2010
6:30pm - 9:30pm
A private residence at 1014 Boylston Street, Chestnut Hill, MA
Tickets: $500 per person

To purchase tickets, go to the Greater Boston Food Bank website.

To refinance, or not to refinance

2010-09-02T10:09:00.000-07:00

With the incredibly low interest rates of recent months, many homeowners are wondering when exactly is the best time to refinance. Is it now? Well, three economists weigh in on a CS Monitor story and have created a calculator that takes a lot of factors under consideration, including your income tax rate and number of years you plan to remain in the home.

For more information or to use the refi calculator, go to CSMonitor.com.

Newton school system opens new school

2010-09-01T08:08:00.000-07:00

The town of Newton, Massachusetts just opened the most expensive school ever built in the state. The Newton North High School cost $197.5 million to build. The new facility only further enhances the town’s reputation as a great place to raise a family. Boston Magazine ranked Newton South and Newtown North as numbers 5 and 6 respectively in their 2009 assessment of the Best Public High Schools.

For more information on the new school in Newton, go to Boston.com.

Spectacular Dover single family home for sale

2010-08-17T12:59:00.000-07:00

Gorgeously appointed home nestled in desirable Stonegate Village in Dover. Two story foyer. Gourmet cherry kitchen with granite countertops opens to large family room & playroom overlooking the level, private back yard. Distinguished master suite with large private bath. 2nd floor laundry. Mud room off kitchen with back staircase. Game room over garage. Imagine enjoying the heated gunite pool with spa this season. Close to town center, commuter rail and highway

For more information on this home for sale in Stonegate Village, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Walpole home for sale: Gorgeous single family with water views

2010-08-05T10:35:00.000-07:00

This Boston area single family home with water views is a great opportunity. Magnificent and well appointed, this spacious and stately home has an entry foyer with hand crafted woodwork. Offering elegance throughout - details include surround sound throughout the whole house, audio system, 400 amp service, Lutron intelligent lighting. The kitchen offers granite countertops and hand crafted oversized mahogany cabinets. Also has an elegant wine cellar, gym, Swedish sauna, Jacuzzi room off master bedroom, banquet-size formal dining room and oversized game/family room.

For more information on this single family home with water views, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Lovely JP home for sale

2010-07-23T11:49:00.000-07:00

This is the loveliest JP two bedroom floor-through home featuring a gorgeous kitchen with sparkling stainless steel appliances, stone counters and maple cabinets. The adjoining dining room is perfect for entertaining dinner guests. Warm hardwood floors run throughout with laundry in the unit offers great convenience. Enjoy private outdoor space and the great value of extra storage.

For more information about this gorgeous home, contact John Ranco and Joe DeAngelo at Gibson Sotheby's International Realty or view one of the JP condos for sale on GibsonSothebysRealty.com.

Night shot at Mt Auburn Village

2010-07-21T09:06:00.000-07:00

Last night was a great night to see homes from a different perspective. The residences in the former church, now called Mt. Auburn Village, are no exception. Offering amazing 2 bedroom or 3 bedroom homes with 2 1/2 bath or 3 baths, and featuring stone walls, arched windows, high ceilings, hardwood floors, crown molding, custom built-ins & fireplace. Gourmet kitchen offers custom cabinets, granite counters, Kohler sink, and Viking & Meile stainless appliances. Tile & marble in baths and laundry room. Building includes exercise studio, elevator, storage & heated garage parking.

For more information about these gorgeous homes, contact Brian Perry 857.362.1794 or Mary Kelleher 617.821.8875 or view one of the Mount Auburn Village homes on GibsonSothebysRealty.com.

For more information on Boston real estate sales, go to Gibson Sotheby's International Realty, Boston's real estate experts.