Washington (AP) - The Federal Reserve has slashed a key interest rate by half a percentage point as it seeks to revive an economy hit by a long list of maladies stemming from the most severe financial crisis in decades.

The central bank on Wednesday reduced its target for the federal funds rate, the interest banks charge on overnight loans, to 1 percent, a low last seen in 2003-2004. The funds rate has not been lower since 1958, when Dwight Eisenhower was president.

Many analysts said they believe the Fed will not stop at 1 percent if officials see the need to cut rates further. Some are forecasting another half-point move at the Fed’s last meeting of the year on Dec. 16. (read full story)

MLS #: 70832150 - Condo - Low-Rise
Address: 81 Pine Street - Unit 2 Cambridge, MA : Central Square
List Price: $389,900
Territory Rebate: $4,753

Listing Office: Coldwell Banker Residential Brokerage - Cambridge - Huron Ave.
Seller’s Agent: Fawn Ren
Buyer’s Agent: Mary Hios

Location: Central Square is an area in Cambridge, Massachusetts centered around the junction of Massachusetts Avenue, Prospect Street and Western Avenue. Lafayette Square, formed by the junction of Massachusetts Avenue, Columbia Street, Sidney Street and Main Street, is also considered a part of the Central Square area. Harvard Square is to the northwest along Massachusetts Avenue, Inman Square is to the north along Prospect Street and Kendall Square is to the east along Main Street.

Central Square is known for its wide variety of ethnic restaurants, bars and live music and theatre venues. It is gentrifying rapidly, and a number of upscale restaurants have opened in the Square. Many startups, including pharmaceutical, videogame and Internet companies, have moved research and office operations into the Square to take advantage of the proximity to MIT, Boston medical resources and relatively low costs. - Wikipedia.com

Three Up:

1. 2 Bedrooms and 2 Full Baths
2. Central AC
3. Low Condo Fee at $139.50

Three Down:

1. $429 Price per Sq Ft
2: Forced Hot Air Heat
3. Off-Site Property Management

Guide’s Opinion: New renovation is rare to find so close to Central Square. This is a beautiful unit that’s also situated on a quiet , residential street. What’s also appealing is that the 2 full-sized bedrooms and 2 full baths are perfect for sharing. This unit is great as an investment, for students or couples. The only downside for this Guide would be the price. At $429 per square foot it is slightly higher than Central Square averages, and the price has already dropped once from $389,900. Might be smart to wait, or it might get snatched up fast…either way, it’s definitely worth a look.

Territory Rating: Buy

CLICK HERE TO SEE IT IN PERSON

According to the Warren Group, the median home prices for single families in Massachusetts nosedived 15.6% compared to a year ago, and is below $300,000 for the first time since 2003.

The good news - besides a re-adjustment of home prices - is that single family sales have picked up by 8.5% compared to last year, showing increasing optimism for home-buyers seeking good deals. Interest rates are low plus median prices have dropped drastically which equals a good time to consider buying.

Of course all that said the real estate market by no means is out of the red. There are still some hard times ahead especially as the readjustment of median home prices negatively affects a good portion of current home seller by increasing the number of short sales and foreclosures. Unfortunately individuals and families who bought when the market was crazy (2003-2004) and mortgages were given out like lemonade on a hot summer day will be faced with financial loss. Also, other issues that will impact sales: the mortgage and bank industry meltdowns, financial crisis and the upcoming election.

Interestingly in the last couple weeks Territory Real Estate has seen a surge in tour requests which tells us, while the market is still shaky, there are buyers ready to take advantage of the record low home prices (especially our record-record low home prices when you calculate our rebate).

MLS #: 70830889 - Condo - Low-Rise
Address: 42 Irving Street Revere, MA
List Price: $263,700
Territory Rebate: $2,916

Listing Office: ERA Andrew Realty
Seller’s Agent: Lorena Hubbard
Buyer’s Agent: Mary Hios

Location: Revere is a city in Suffolk County, Massachusetts, United States. It borders Winthrop, East Boston and Chelsea to the south, Everett and Malden to the west, Saugus and Lynn to the north, Melrose to the northwest, and the Atlantic Ocean to the east Revere is located approximately 5 miles from downtown Boston. - Wikipedia.com

Three Up:

1. Open, Eat-In Kitchen
2. Gas Heating
3. Good-Sized Bedrooms; One on First Floor

Three Down:

1. Carpeted Throughout, Linoleum in Kitchen
2: Only One Full Bath; Other is Half
3. No Finished Basement

Guide’s Opinion: This is a well-maintained home with 4 Bedrooms at a great price. It could use some updating inluding changing or removing carpets but it certainly has great potential for a first home or investment.

Territory Rating: Buy

CLICK HERE TO SEE IT IN PERSON

MLS # 70830580 - Single Family - Detached
Address: 465 Newton Street - South Hadley, MA
List Price: $389,900
Territory Rebate: $4,753

Listing Office: William Raveis R.E. & Home Services
Seller’s Agent: Blair Vassallo
Buyer’s Agent: Mary Hios

Location: South Hadley, Massachusetts is a town in Hampshire County, Massachusetts, United States. The population was 17,196 at the 2000 census. South Hadley is located in the western part of Massachusetts, specifically in the Pioneer Valley. It is bordered on the north by Hadley and Amherst, on the east by Granby, and on the south by Chicopee. The Connecticut River defines the town’s western border and separates it from the city of Holyoke. South Hadley is 45 miles south of Brattleboro, Vermont, 87 miles west of Boston, and 145 miles from New York City.

South Hadley is home to Mount Holyoke College, South Hadley High School, and the Berkshire Hills Music Academy. South Hadley High School is known for its highly competitive boys athletic teams for a smaller-sized town. It is home of the 2004 state champion lacrosse team that won Division II with the smallest high school enrollment of all 81 teams. It also won the 2005 Division IA Super Bowl in football.

The South Hadley High School Marching Band has won the state and or New England USSBA Championship each year. In 2005 they placed second nationally and won Best Percussion. In 2006 they won the United States Marine Corps Esprit De corps award, second place in USSBA, and Best Percussion. In 2007 they won the Esprit De corps award for the second year in a row, best percussion for the third year in a row, Massachusetts USSBA championship, New England Championship, and seventh place in the Northeast championship. - Wikipedia.com

Three Up:

1. Great Potential - Zoned Business and Residential
2. Great Woodworking Detail Throughout
3. Great Price

Three Down:

1. Only 1.5 Baths for 3 Bedrooms
2. Located on Corner of Busy Road
3. Probably Best Suited for Business versus Residential

Guide’s Opinion: This is an impressive property that may be best suited for a combination residence/business venture. There is impressive wood detailing throughout and a beautiful built in cabinet. The kitchen needs updating and there is only one full bath. Because of the location of this property and it’s mixed commercial/residential zoning, it may not be ideal for use as just a family home but definitely worth a look.

Territory Rating: Hold

CLICK HERE TO SEE IT IN PERSON

In the 1970’s Ted Raymond paid less than $500,000 for a lot located on 161 Commonwealth, a price so low it might be considered stealing in today’s Back Bay market. Raymond believes today the lot - post development - could put $20-40 million back in his pocket.

Raymond plans to build a 5 story luxury condominium building on the empty lot, each floor having one 4,000-square-foot unit. The units will range in price from $6.4 million to $8 million, Mandarin Oriental pricing style. 161 Commonwealth will also include 11 underground parking spots for owners.

The current economic woes have put a damper on the projects schedule, however, as construction loans are near to impossible to come by. Due to such buffers, Raymond has made clear he will not begin construction on the lot until he has agreements to sell 3 of the units.

So, the big question remains, will the development sell as the economic crisis worsens? While the high(er) end residential real estate market tends to be insulated from economic slumps, it is becoming quite evident we are experiencing more than a slump; This time the economic issues are draining wall $treet. According to Boston.com, Boston sales have dropped 15 percent, largely due to a lack of supply for prospective buyers. According to the tax records, in the last year 1 condo and 1 single family residence sold over 6 million in Boston, a shift from the year prior when 3 condo’s sold and 0 singles. Currently 20 single family and condominium properties are on the market for over $6 million, 4 of which are in the Mandarin. Would a property like 161 Commonwealth be able to compete? My advice: Raymond, hold. Although, there is no harm in selling pre-construction. Low risk/cost and you can get a feel for demand.

This rare to market quintessential circa 1840 beacon hill home has 4 bedrooms/1.5 baths plus a private garden. Located on a private alleyway off Revere Street, the property is in need of some “upgrading” but has all the charm you want in an antique beacon hill home.

Current listing price $1,000,000

Territory Price $979,995 before we even begin negotiating!

Click HERE to see it in person.

MLS #: 70815505 - Condo - Low-Rise
Address: 521 Columbus Ave - Unit 2 Boston, MA : South End
List Price: $399,000
Territory Rebate: $4,980

Listing Office: Coldwell Banker Residential Brokerage - Boston - South End Tremont St.
Seller’s Agent: Michael O Hagan
Buyer’s Agent: Mary Hios

Location: The South End lies south of the Back Bay, northwest of South Boston, northeast of Roxbury, north of Dorchester, and southwest of Bay Village. Despite the name, it is not directly south of the center of downtown Boston.

The South End is one of Boston’s main restaurant districts offering a diverse mix of cuisines, many at a relatively high price point. Tremont Street is often called “Restaurant Row.” The South End’s range of restaurants include American southern “Low Country”, French, Ethiopian, Brazilian, Indian, Italian, Korean, Greek, Middle Eastern, Cuban, Thai, and Japanese among others.

The South End has a growing retail presence, much of it aimed primarily at upper-middle class shoppers. New retail shops offer a range of home furnishings, men’s and women’s clothing, stationery, specialty foods, spa services, and a rapidly growing number of manicure and pedicure shops. Several new stores cater to wealthy dog owners. - Wikipedia.com

Three Up:

1. New Kitchen and Bath Renovations
2. Marble Tile in Bath
3. Great Location - Near Greenwich Park

Three Down:

1. Small Bedrooms
2: $628 Price Per-Sq Ft
3. Closed Kitchen Layout

Guide’s Opinion: This is a well maintained brownstone unit in the much sought after neighborhood of the South End. This unit could make a perfect as a first home for a couple or individual, however the limited size of the second bedroom can really only serve as a study or storage. It is this guide’s opinion that focusing on other streets besides Columbus Ave could yield you a better value per square foot.

Territory Rating: Hold

CLICK HERE TO SEE IT IN PERSON

The late John “Honey Fitz” Fitzgerald’s - former 2-term Mayor of Boston and grandfather of former President JFK- gorgeous Victorian/Tudor is for sale in Hull, Ma, for $2,375,000. The property has been completely restored by developer Ernesto Caparrotta who brought back to its original grandeur, which now includes updated electrical and plumbing! The home sits on 3/4 lot and has panoramic views of the Boston skyline, Boston Harbor and the Atlantic Ocean. The interiors include all the original ornate wood work on the ceilings, fireplaces and walls.

Address: 940 Nantasket Ave

The asking price has already been reduced $270,000 from its original price of $2,645,000.

Currently listed at $2,375,000 the Territory Price is $2,320,620 - a $54,380 rebate from us to YOU! - before we even begin negotiations!

Click HERE to see it in person.

This incredible 1872 Victorian on K street in South Boston just dropped $46,380 in price! The property has undergone an unbelievable 3-year long renovation and the owner didn’t miss a spot! With 10 rooms, 4 bedrooms and 2.5 baths, this home has dark walnut-colored floors, high ceilings, grand staircase, master bedroom suite, patio and a dream kitchen.

Current List price: $695,000

Territory Price: $682,620 (that is a $12,380 rebate from us!)

Click HERE to see this property in person.