All Blog Entries by Michael Sylvia

Found 33 blog entries published by Michael Sylvia.

Buying condos in Boston

If you're shopping for Boston condos, then you already know how they open up a world of affordability, convenience, and worry-free living. But to get the best value for your money, you need to ask a few important questions, especially if you've never owned in a condo association before. Finding the answers to these ahead of time can help you make a more informed decision.

1. What are the condo fees and what do they cover? The monthly Homeowner's Association payment or more commonly known as a Condo Fee, takes care of the maintenance and insurance outside your unit and in common-area amenities, such as the courtyard, pool or hallways. Find out exactly what the condo fee pays for, so you know whether you pay separate charges for such services as snow

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Boston condo inventory is down

I love real estate, and I love analyzing numbers. I'm not an economist, but more of a self proclaimed "numbers guy". My goal is to always have my finger on the pulse of the real estate market. I'm constantly looking at inventory, calculating the average price per square foot for different areas, average and median prices, and analyzing that data.

Since 2012, the Boston condo market has been on fire. Buyers are always wondering when multiple offers on properties are going to end, and when inventory will increase. I decided to analyze Boston condo inventory over the years. What I found was shocking! I knew inventory was tight, but I had no idea just how constrained it has become.

As of September 1st, 2016: 508 Condos on the market in Boston.


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Tips to prepare your Boston home for winter

As sad as it may be, winter is right around the corner. Last year in Boston we had historic snowfall, and for most if not all homeowners, it was a tough winter. Even if you love skiing, snow boarding, sledding, or anything else about winter, it's pretty safe to say that no one likes shoveling the snow, or dealing with issues with their house that may be caused by the snow and cold weather. Below are 5 Tips to help you avoid that.

1. Insulate Your Attic

If your attic is not properly insulated, it's likely your home will get ice dams. The best thing to do is to have your attic properly insulated. You can contact a contractor direct, or go through MassSave to save a couple thousand dollars. Only problem is this late in the season, it will be

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Brookline real estate

Considering a move to Brookline? If you've been looking through Brookline real estate listings but want to know more about the area before making your decision, read on - we've provided a description of the best things about living in Brookline.

Getting Around

First, Brookline is a highly walkable location overall. You'll be able to get around safely and easily, and depending where in town you live, you may be able to get to your destination on foot! Transportation is also easy; use the C and D branches of the MBTA Green Line to head inbound to downtown Boston or outbound to Newton. MBTA bus service is also available. If you'll be commuting to Boston during the week, you won't need to worry about driving into the city thanks to the convenient

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Weston Real Estate Inventory Skyrockets

Just 2 months ago I posted a story on how 98% of Weston Homes for Sale are over $1million. In just a short 2 months, it's amazing how fast Weston real estate inventory has changed. As of March 17th, 2015, there were 60 homes for sale in Weston, and only 1 of those homes was priced under one million. As of May 19th, 2015, there are 105 homes for sale in Weston, and 8 of those homes are priced under one million. Overall inventory is up 75%, and clearly the number of options under one million has increased substantially.

The majority of this is seasonal, as the spring time is when we see the largest increase inventory. The drastic increase is also due to the tough winter we had, which delayed people putting their homes on the market by at least a

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Condos in the seaport district

For years, the area was mostly an industrial area, and there really weren't many Condos in the Seaport District. This changed after the Big Dig built the I-93 and I-90 interchange and installed the Silverline. Now, with an easy commute to the suburbs and the airport, professionals and numerous businesses have started moving into the Seaport District in droves. If you would like a condo near the ocean with gorgeous views, fantastic restaurants to eat at, then the Seaport District may be right for you.

With prices approaching $1,500-$3,000/sq. ft., there are certainly not many affordable options in the area. The Boston luxury condo market is not far behind New York City, and the Seaport District is probably the hottest neighborhood in Boston. This is

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Buyers caught in the middle

The Massachusetts Association of Realtors announced that in August 2014, for the seventh straight month in a row, sales dropped and prices rose—leaving buyers caught in the middle. Sales are down in large part because the inventory just isn’t there, while that good ol’ law of supply and demand means that sellers are keeping prices high because they know they have a scarce commodity on their hands.

While the Massachusetts Association of Realtors stats measure statewide activity, if you’re a buyer in Boston, you know that the situation is even worse in Beantown itself. Boston Realtors are keenly aware that times are tough for buyers. To help you understand, here’s an explanation about some real estate lingo.

We have something in the industry

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Labor Day has passed, the white pants are relegated to the back of the closet, and Boston has once again survived the student move-in madness. If you’ve been trying to find South End real estate to purchase, chances are you’ve been forced to compete with a number of other buyers for a relatively scarce inventory. With summer over, what does this mean for your South End real estate search?

Certainly the level of activity has dropped; from April through mid-June, the number of condos going under agreement danced on either side of 70 each month. Now it’s dropped down to just above 40. There are both advantages and disadvantages here. While spring and summer are certainly the peak months for moves around Boston—as well as for most of the rest of the

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Fewer condos for sale in Boston

According to the Boston Listing Information Network, or LINK, fewer condos sold in Boston than at any time in the past two years. But the problem wasn’t lack of interest; it was lack of options. Condos in Boston have become increasingly attractive, raising prices and shrinking inventory. Only 963 units were sold in Boston’s various neighborhoods last quarter, which is an 8 percent drop from one year ago.

At the same time, the median price of condos for sale in Boston rose by 12 percent, a clear indicator that it’s a seller’s market; with fewer choices available, sellers are charging—and getting—more per square foot than ever before. Not unexpectedly, the waterfront is still Boston’s most desirable area, with median condo prices now standing at

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Boston condos are better than single family homes

Once upon a time, the stereotypical dream home was that freestanding single-family dwelling with the white picket fence. These days—not so much. The median price of condos in Massachusetts is now only $20,000 less than the median price of a single family home. There are a number of reasons for this shift in housing preferences, including:

Location, location, location. The prices of downtown Boston condos are on fire, because people appreciate the convenience of walking to work, public transportation, and abundant entertainment options. A significant portion of this action is because baby boomers are selling their homes in the burbs, now that the kids are grown, and moving back to where the action is.

Low maintenance. Those baby boomers are also

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