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Archive for January, 2008

Fed in Damage Control: 2nd Interest Rate Cut in 8 days!

Thursday, January 31st, 2008

Well, if this isn’t a sign of economic gloom I don’t know what is … ( You won’t hear me complaining, though …)

It is more than obvious the economy needs a boost so why not go straight to the source and hope the cuts will get us all to SPEND SPEND SPEND! The Fed has made total cuts of 2.25% to their Funds rate since December, a good sign, I think.

So, what does this mean for buyers? Lower mortgage rates. While mortgage rates don’t always follow the Fed Funds rates, the 30 year rate has already dropped by half a point to 5.5%.

And owners ….

People with ARMs are sighing in relief since those with mortgages scheduled to reset this year will likely end up seeing their rates drop. For many could mean the difference between holding onto their home or being forced to sell.

So will all these moves keep the economy afloat or is more gloom to come?

Statistic Sources:

Mortgage Bankers Association

Bankrate

UPDATE:

Interesting article on subject

Our Readers Are a Bunch of Stalkers

Thursday, January 31st, 2008

The other day Google sent the Territory Blog 108 non-paid visitors via 65 keywords. Here is a quick look at the top 20.

  1. where does tom brady live
  2. tom brady back bay
  3. 321 second street south boston ma
  4. tom brady back bay mansion
  5. tom brady beacon street
  6. wehere does tom brady live?
  7. tom brady back bay house
  8. 310 beacon street
  9. tom brady back bay home
  10. tom brady live
  11. where does tom brady live in boston
  12. where does tom brady live in boston?
  13. “314 commonwealth” boston brady
  14. “tom brady” “back bay” address
  15. “tom brady” “beacon”
  16. “tom brady” address” “back bay”
  17. “tom brady” and “back bay”
  18. “where does tom brady live”
  19. (tom brady house beacon street)
  20. 310 beacon st condo boston ma

So obviously this begs the question… Why is everyone so curious about 321 Second Street in Southie? (MLS # 70511668, 70511665, 70627399, 70682033) Here is the description from the new construction condo project’s website…

“the fifteen units at 321 West Second St. have been designed around a central courtyard to maximize exposure to light and cross ventilation. Living areas are framed by expansive “wall to wall

Because It’s Cold Outside

Wednesday, January 30th, 2008

And we are all staring out the window yearning for those warm summer months to arrive. Do you know what goes perfectly with warm summer months? SUMMER VACATION! That’s right first summer, then summer vacation, finally a vacation home. Did you follow that chain of logic?

How about your own private half acre island only an hour’s drive from Boston. And no it’s not an “hour” on route 3, its only 56 miles west on the Mass Pike in good ol’ Webster, MA. The house is rennovated and sits in the middle of Webster Lake. It comes with docks, boathouses and all the other necessities for the ultimate vacation house. With 5 bedrooms and priced at only $639,900 you and a couple friends could be in ths place for about $50,000 a year.

Ahh sweet, sweet summer vacation. MLS # 70704550, 1 Well Island.

Tom Cruise has his Way with the South End

Wednesday, January 30th, 2008

Ok, fine, he personally didn’t have his way but his Scientology buddies are about to.

The Church of Scientology of Boston Inc. have made their moving plans official. Their Scientology headquarters will be moved from Back Bay to the South End. The news comes on the heels of their recent purchase of the Alexandra Hotel building located on the corner of Washington Street and Mass Avenue. The church plans to renovate it back to its “original grace and elegance” just like they have done with Tom Cruise’s career … [Wince].

I was kind-of hoping the city would stick with its original plan to convert the historic building into 20 condos and retail frontage. The architectural detail in the building would have made for incredible spaces … Not quite as cool as the lobby of Longwood Towers at 22 Chapel Street but still.

Editor’s Choice: The Best North End Condos

Tuesday, January 29th, 2008

$400,000 +
70680860, 11 Sheafe Street. This 1 bedroom condo overlooks the North Church and clocks in at $625 per sqft, not bad for new construction. 11 Sheafe Street.

$500,000 +
70676405, 34 Clark Street. This 2 bedroom condo has cool exposed brick and a fancy schmancy bathroom. 34 Clark Street.

$600,000+
70680472, 32 Charter Street. Hello fixer-upper! This 1600 + sqft 3 bedroom condo needs work but looks like a deal at $408 per sqft. 32 Charter Street.

$700,000 +
70675812, 61 Prince Street. Lack of light could ruin an otherwise incredible 2 bedroom condo. However, amazing finishes, barreled ceilings and a huge private garden should save the day. 61 Prince Street.

If You Have The Money
70581278, 49 North Margin Street. The quality of the finishes on this 2 bedroom condo far exceed the $851 per sqft price. 49 North Margin Street.

A Sign of The Times

Tuesday, January 29th, 2008

This the best…

  • Are you stressed out about your mortgage payments?
  • Do you have little or no equity in your home?
  • Have you had trouble trying to sell your house?
  • Is your home sinking under the waves of the real estate crash?
  • What if you could live payment free for up to 8 months or more and walk away without owing a penny?

YouWalkAway.com

Green with a Healthy Conscious

Tuesday, January 29th, 2008

Parkside Commons, a new rental community developed by John M. Corcoran of Braintree is about to open its leasing doors … And get this: They are not only Green, they keep the lungs clean! A smoke-free complex … I like where this is going. I can’t wait for a smoke-free Green condo development that gives away Apple computers along with the free WiFi and parking (where I can fit my two Smart cars) ;)

It’s January and the Spring Selling Season has Arrived

Tuesday, January 29th, 2008

It’s January 29th and in the last 24 hours I have watched 4 properties go into multiple-bidding situations. One had so many as 9 offers! So what’s gong on? Do Territory Customers just pick out the most popular properties or has the spring selling season arrived early? Maybe sellers have finallly adjusted prices to a point where they are palatable to buyers. I’m sure the fact that mortgage rates are dropping like a stone has kicked a few people off the fence.

Seaport District Sale May Lead to Higher Condo Prices

Tuesday, January 29th, 2008

The Boston Business Journal reports that 40 Channel Center has changed ownership and will soon be filled by a handful of owner occupants. The Fort Point Channel neighborhood is welcoming the new law firm, architectural firm, and neighborhood restaurant with open arms because each will add significant value to the surrounding properties. The remaining space in the 26,000 sqft building will be used for small businesses, working artists and public art exhibitions

As a result of this move, prices in 25 & 35 Channel Center should see a nice boost. Having a restaurant across the street in lieu of a vacant building is certainly a significant improvement. There are currently 8 units for sale in the area, some with prices as low as $343 per square foot

70571495, 35 Channel Center
70661007, 35 Channel Center
70702545, 25 Channel Center
70576479, 25 Channel Center
70596914, 25 Channel Center
70640742, 25 Channel Center
70693579, 25 Channel Center
70645700, 25 Channel Center

City of Boston Parking Crisis Solved?

Monday, January 28th, 2008

THEYYYY’RRREEEE HEERRREEEE and they are SMART.

Smart Fortwo, a Euro-influenced microcar manufactured by the Mercedes division of Daimler AG, has landed in MA, finally.

Can you imagine if every car-owning resident of Back Bay, South End, North End and Beacon Hill traded in their big vehicles for one of these 8 foot long brilliance? You could get 2 to every 1 parking spot … And, they are eco friendly.

Ok, my parking solution is a little idealistic but seriously if you own a parking spot in the City and want to get a real bang for your buck you might want to consider buying one of these.

Wait!, before you run out the door ….

The first and maybe only (?) Auto dealer in MA is selling only 770 Smart cars. The owner, Herb Chambers - located in Somerville - said he will only sell the cars to the public as people cancel their previously placed $99 reservations.

Sigh, this car would go perfect with my Apple computer …