Archive for the ‘Brighton, Brookline’ Category
August 13, 2008
I’ve been playing around all morning with Redfin’s newest feature — the new neighborhood trends pages. For those of us following the harrowing twists of the housing market as if it were an Olympic Sport, there’s a lot to chew on. Not only can you see new listings, reduced listings and recently sold homes in one neat package, but there’s lots of market data too. Here’s what I’ve learned:
- In Brighton, there are 316 properties currently on the market — only two of those properties are foreclosures.
- Interestingly, even in this down (or at least flat) market, few house sellers are dramatically reducing prices. Only about 17 percent of houses underwent a price reduction in Brighton before they went off market, compared to almost half (47 percent) of condos.
- When condo owners dropped their prices, they didn’t drop much — a median of only 4.8 percent. House sellers were willing to give a little bit more — 12 percent.
- In Brookline, there were about 441 properties up for sale —none were foreclosures.
- About 28 percent of sellers with houses in Brookline reduced their prices, while 42 percent of condos dropped their prices.
- Again, price reductions in Brookline weren’t shockers. Sellers with houses cut prices a median of 5.3 percent, while condo owners lowered their prices by 4.4 percent.
- In both Brighton and Brookline, if you found something on the market for less than 90 days, it’s probably not worth holding out for a huge price reduction–it’s probably not coming. On the other hand, if a property has been sitting around on the market for four months, there’s an excellent chance of future price reductions, so bargain hard!
Hitting the Links
Boston Sweet Digs Home
August 11, 2008
If you really want a good deal on a house, look for houses that have been sitting on the market like stale donuts at the end of the day in a coffee shop. In fact, houses on the market for at least 94 days seem to offer the best deals, according to a Redfin analysis.
Houses on the market that long were 82 percent more likely to significantly discount their sales price. Sellers who lowered the price at least once were also 37 percent more likely to offer a healthy discount. In other words, if you’re thinking of making a low-ball offer, your best chances are not with a spanking new listing— old listings are more successful.
Impressed by the Redfin report, I thought I’d take a closer look at Brookline and Brighton. I found more than a few likely suspects — houses that have been on the market for more than 90 days that have also dropped their prices at least once.
In Brighton, many of the properties in this category are basement units, investment units, or high-end luxury condos.
In Brookline, homes meeting this criteria run the gamut: a basement apartment, some new construction, and even a converted church. If the Redfin report is true, it suggests the owners of the following homes may be ripe to offer a good deal:
90 Park Street, #14
Brookline
BEDS:2/BATHS:2.5
SQ.FT:1429
$660K
On market for more than 140 days.
Comment: Evidently, a lot of people don’t want to spend their lives in church.
75 Winchester Street, #201
Brookline
BEDS:2/BATHS:2.5
SQ.FT:1710
$795K
On the market for more than 200 days.
Comment: New construction that apparently started off too high.
797 Washington Avenue, #1
Brookline
BEDS:2/BATHS:1
SQ.FT: 1500
$429K
On the market more than 120 days
Comment: Again, Looks as if they started off much too high.
244 Brighton Avenue, #206
Brighton
BEDS:2/BATHS:1
SQ.FT:1015
$406,500
On the market for more than 130 days
Comment: The proximity of Allston Village is both a blessing and a bane.
33 Brainerd St. #31
Brighton
BEDS:2/BATHS:1
SQ.FT:902
$374,900K
On the market for more than 120 days
Comment: This penthouse condo with private roof deck is pretty cute — maybe its time has come?
Hitting the Links
Boston Sweet Digs Home
August 8, 2008
These are the dog days of summer. And I’m not just talking about the heat.
In the housing market, according to Rona Fischman, this is the time of year when all the dogs are still hanging around looking for a little affection. You see, all the prime properties got snapped up in the spring, like cute little puppies at the pound. New listings, on the other hand, are drying up, as city-weary sellers take off for a little R and R before things rev up again in the fall. What remains? The “summer leftovers” — unattractive and overpriced properties that only a seller could love. Woof, woof!
So is it true? Well, on this side of town, I’m happy to report that while there may be no dearth of unattractive properties still clogging the market, there is also no shortage of fresh new listings with some promise. In Allston-Brighton, more than a dozen new listings have come on the market in the last two weeks. In Brookline, more than two dozen.
Here are a few of the young pups hosting open houses this weekend:
57 Addington Road, #1
Brookline
BEDS:5/BATHS:3
SQ.FT:2495
$779k
O.H. Saturday, August 9, 2008 12:00 PM - 2:00 PM, Sunday, August 10, 2008 12:00 PM - 2:00 PM
401 Washington Street, #6
Brookline
BEDS:2/BATHS:1
SQ.FT:885
$385K
O.H. Sunday, August 10, 2008 2:00 PM - 3:30 PM
116 Englewood Avenue
Brighton
BEDS:1/BATHS:1
SQ.FT:705
$249K
Sunday, August 10, 2008 12:00 PM - 1:00 PM
On the Market: Big Houses in Allston
Sweet Digs Boston Home
Image: www.freedigitalphotos.net/
August 4, 2008
What’s new around town in August?
- Sadly, Earle Leede, the owner of the Coolidge Corner Arcade building on Harvard Street passed away. All Brookline residents have a soft spot for the Arcade. Coolidge Corner’s lonely monument to 1940’s America, the Arcade was one of the few places where you could go to get your shoes repaired, have your watch fixed, get a dress made, or sip coffee, without being surrounded by trendy franchises and the people who frequent them. No word yet on what will happen to the old Arcade, but I hoping it doesn’t get bought up by another big box chain-store.
- The Allston-Brighton North Neighbors Forum planted trees last weekend along an ugly median strip on Everett Street. The planting is much appreciated by neighbors, since that little slice of earth has been a trash-strewn eye sore for years.
- Boston College is moving ahead with its plans to demolish three Victorian homes on Foster Street. In their stead will stand fresh, new Jesuit community housing.
And here’s what’s new on the real estate market:
196 Allston Street, #A1
Brighton
BEDS:2/BATHS:1
SQ.FT:1030
$382K
77 Bennett Street, #2
BEDS:4/BATHS:2
SQ.FT:1800
$479K
1081 Beacon Street, #108
Brookline
BEDS:3/BATHS:2.5
2,218
$985K
150 Clark Road, #1
Brookline
BEDS:4/BATHS:2
SQ.FT: 3,175
$949K
1265 Beacon Street, #904
Brookline
BEDS:2/BATHS:2.5
SQ.FT:1835
$895K
Open Houses in Brighton: Starter Condos
Boston Sweet Digs Home
August 1, 2008
The city emptied out. Everyone is already on vacation, or at least sneaking out of work early.
But, believe it or not, a few souls — grad students or recent transplants — are out on the streets in full force. Even in August.
And what are they doing?
They’re looking for a taste of home ownership without all the stress. In other words, small condos — perhaps studios or one-bedrooms —that will give them a toehold in the still-expensive-despite-the-bust Boston condo market. We found several in Brighton that just might fit the bill. All are near the B branch of the Greenline, and two come with parking spaces:
1933 Commonwealth Avenue, #411
Brighton
BEDS:1/BATHS:1
SQ.FT: 584
$265K
Open House: Sunday, August 3, 2008 12:00 PM - 2:00 PM
1486 Commonwealth Avenue, #1
Brighton
BEDS:1/BATHS:1
SQ.FT: 675
$236K
Open House: Sunday, August 3, 2008 12:30 PM - 2:00 PM
15 Walbridge Street, #26
Brighton
BEDS:2/BATHS:1
SQ.FT: 655
$250K
Open House: Sunday, August 3, 2008 1:00 PM - 3:00 PM
Brookline and Brighton by Bike
Sweet Digs Boston Home
July 30, 2008
A lot of us are taking to the road on two wheels these days. With rising gas prices and crowded trains on the Green Line, whisking off to work by bike not only saves money, but a lot of time. Plus you get your exercise in for the day without having to go to a gym.
The increase in bike traffic has been especially notable in Brookline and Brighton, since we’re just a quick peddle away from downtown. Fortunately, in Brookline, a new bike path down Beacon Street was put in last year. The lanes aren’t perfect — they appear and disappear, and are a bit too close to deadly car doors — but they’re better than the alternative, that is, fighting with cars for road space. Now that the city is also thinking of starting a bike rental system, similar to Zipcar, we’re likely to see even more bikes in this neck of the woods.
Now here’s my proposal. It’s radical, so sit down: Let’s put all branches of the Green Line — B, C and D — underneath the ground and turn the resulting street-level space on Commonwealth Avenue, Beacon Street and inner Brookline into a network of bike paths, safely protected from cars. It would cost a whole lot of money, but it would immeasurably improve the quality of life for citizens on this side of the city. Housing values would go way up, as travel by the T would become faster and safer, making this part of the city even more desirable. And more of us would be encouraged to use bikes, knowing that we’re not risking our necks to pick up a quart of milk. If you ask me, makes more sense than the Big Dig ever did.
And here for your consideration are three properties that would benefit from a suppressed Green Line train and a new network of Green Line bike paths:
300 Allston Street, #402
Brighton
BEDS:2/BATHS:2
SQ.FT:1266
$485,000
110-112 Cypress Street, PH#1
Brookline
BEDS:2/BATHS:2
SQ.FT:1262
#675,000
39 Kent Street, #5
Brookline
BEDS:3/BATHS:1
SQ.FT:1,180
$459,000
In and Around Brookline’s Pill Hill
Sweet Digs Boston Home
July 28, 2008
It’s sort of “the other Brookline” — that is, the one south of Boylston street. What’s cool about Pill Hill is that one moment, you’re right in the middle of urban Brookline — with firetrucks screaming out of the Boylston street fire station, Green Line trolleys rumbling down the tracks, and cars whizzing by on Route 9 — then presto! You’re in Mayberry.
Pill Hill is a quiet, leafy district of remarkably diverse houses. It earned its name back in the 19th century when many of the city’s doctors moved to the area. Today, lots of doctors still live in this area; they’re the only ones that can afford the stately Victorians in the Pill Hill historic district.
On the other hand, there are plenty of converted two and three-family clapboard homes that offer simpler living at a slightly-reduced cost. Among the single-family homes, duplexes, and triple-deckers overlooking Brookline Village are the Boston Free Hospital for Women, built in 1895 but converted into ornate condos in 1997, and The Brook House, a 1970’s hi-rise condo.
Here’s what’s on the market in Pill Hill:
8 Upland Road, #1
Brookline, 02246
BEDS:3/BATHS:3
SQ.FT: 1538
$669K
85 Glen Road, #NC15
Brookline, 02245
BEDS:2/BATHS:2
SQ.FT:1230
$569K
94 Walnut Place
Brookline, 02445
BEDS:5/BATHS:2
SQ.FT:3088
$2,100,000
Hitting the Links
Boston Sweet Digs Home
July 25, 2008
Earlier this week, The Boston Globe ran an article about buyers choosing modern condo buildings over the classic Boston brick rowhouse or brownstone. Brownstones, the naysayers argued, are a lot of work. Plus you have to take your own trash out to a smelly alley. Modern buildings, on the other hand, are shiny and new. No mice. No stairs. And hopefully no robbers climbing through your bedroom window at night.
Still, let’s face it, condos in modern buildings are never going to have the romance that older buildings have. Will the new buildings even still be standing in 100 years? If you don’t believe that brownstones are pretty darn classy, (thanks to a plethora of architectural details like wood paneling, built-in sideboards and bow windows), take a look for yourself this weekend at these open houses in brownstones:
14 Marshal Street, #1
Brookline
BEDS:3/BATHS:1
SQ.FT: 1898
$699K
Sunday, July 27, 2008 12:00 PM - 1:30 PM
1865 Beacon Street, #1
Brookline
BEDS:3/BATHS:2
SQ.FT: 1450
$729K
Sunday, July 27, 2008 12:00 PM - 2:00 PM
22 Garrison Road, #1
Brookline
BEDS:2/BATHS:1
SQ.FT: 994
$464K
Sunday, July 27, 2008 1:00 PM - 2:30 PM
A Buyer’s Perspective on the Pitfalls of FSBO
Sweet Digs Boston Home
July 23, 2008
I used to think that “for sale by owner” houses were a good way for home buyers to save a little dough. After all, a seller without an agent saves the five or six percent commission. In theory, that savings would be passed along to a buyer. The buyer gets a good deal, the seller nets more than what he or she would get with a Realtor and enjoys the competitive advantage of pricing a home for a quick sale.
That’s what I used to think. Then I started visiting FSBO’s.
First thing I noticed was the homes were invariably overpriced. Instead of using the savings on commission as a way to lower a sales price, sellers expected top dollar regardless of the home’s condition.
And speaking of condition, I noticed that FSBO homes didn’t have that spit-shined, freshly-vacuumed look of homes shown by agents. The homes I saw needed lots of work —not that the sellers noticed. Sellers seemed stubbornly arrogant or sadly “out of it.” They might have learned a thing or two by visiting the competition.
I discussed this frustrating phenomenon with a friend, who gave me his theory: “People who sell their own homes are the people who weren’t willing to listen to a Realtor about the real value of their property,” he said.
After several maddening FSBO experiences, I decided he was right. The best use of my time was to stick to homes marketed by professionals — especially if I wasn’t saving anything by dealing directly with an owner.
I confirmed my decision when I found the perfect place, marketed by a pro. It was also confirmed when I saw two FSBO ’s I previously viewed end up with Agents who lowered the prices to where they should have been all along. Ironically, both sellers made significantly less than if they lowered prices when they were trying to sell on their own.
Perhaps in a slower market, some FSBO sellers will come to their senses. Or, maybe not. Take a look at these FSBO properties and tell me what you think:
19 Winchester Street
Brookline
BEDS:1/BATHS:1
SQ.FT: 700
$335K
1731 Beacon Street
Brookline
BEDS:2/BATHS:2
SQ. FT: 1200
$525K
21 Park Vale Avenue
Allston
BEDS:1/BATHS:1
SQ.FT: 780
$250K
Recent Sales in Brighton and Brookline
Sweet Digs Boston Home
July 21, 2008
Everyone (at least everyone in Brookline!) knows that Brookline’s housing prices remained robust throughout the housing downturn. A recent Money Magazine survey placing Brookline in the top 100 places to live in the country certainly didn’t hurt matters any.
But what about Brighton, Brookline’s hardscrabble, hard-living, (some might say hard-drinking) neighbor to the north?
It turns out the housing picture is a whole lot spottier on the other side of the border. Without a stellar school district to act as a price support, average sales prices in the first quarter are down. In Brookline, price appreciation seems as certain as a long wait for the Green Line, even if you bought as recently as 2006, but in Brighton, it’s more dependent on timing and luck, with many more variables coming into play.
Look at Strathmore Road, a leafy lane that begins at Chestnut Hill Avenue and traverses Brighton all the way to Brookline’s Beacon Street. It’s near three branches of the Green Line and just a couple of blocks from the shops and restaurants of Cleveland Circle. Strathmore Road boasts solid, well-tended condominiums mixed in with some well-maintained apartment buildings and a few brownstones that have seen better days. Eliminating location as one variable in determining sales price, here are the mixed results of three sales in the last three months on that street:
93 Strathmore Road, #3
Brighton, 02135
Beds:2/Baths:1
SQ.FT: 904
Sold in June for $318,500. Last owner bought in 2004 for $299K. Price appreciation of 1.6% a year. Reasonable enough.
110 Strathmore Road, Apt. 202
Brighton, 02135
Beds:2/Baths:2
SQ.FT:887
Sold in June for $362,500. Last owner bought in 2006 for $378,000. -2% appreciation per year. Ouch.
84 Strathmore Road, Apt. 2
Brighton, 02135
Beds: 1/Baths: 1
SQ.FT:711
Sold in May for $257K. Last owner bought in 2004 for $214K for an appreciation of 5.1 percent a year. Hey, it’s looking like a better investment than the stock market.
Hitting the Links
Boston Sweet Digs Home
