#boston-condos

#boston-condos

If you're like a lot of Boston condo owners, you've probably thought: "I'd like to move... but I don't want to give up my 3% rate." That's fair. That rate has been one of your best financial wins - and it can be hard to let go. But here's what you need to remember... A great rate won't make up for a home that no longer works for you. Life changes, and sometimes, your home needs to change with it. And you're not the only one making that choice.

The total money you need for a down payment and closing costs to purchase a condo in Boston depends on the purchase price and your financing. Closing costs generally range from 2% to 5% of the purchase price. The down payment can range from 3% to 20% or more, depending on your loan type. Loan Type: Government-backed loans like VA and USDA may offer 0% down payment for qualifying buyers, while FHA loans can be as low as 3.5%.

Luxury Amenities: Buildings offering amenities like 24-hour concierge, valet parking, on-site superintendents, pools, gyms, and spas have significantly higher fees to cover the operational costs and staff salaries. Square Footage: Fees are often calculated based on the square footage of the unit, meaning larger units will have higher monthly dues. Building Age and Maintenance: Boston's older building stock often requires more maintenance, which can contribute to higher fees, even in non-luxury buildings.

Jay Fitzgerald says that Boston homeowners are pulling their condos off the market because they can't find buyers. I agree. However, it's a perfect example of simple economics and the free market. I think the majority of those pulling their places off were not being forced to sell, and have decided to hold off on Again, the slowing of the market sucks if you're someone who has to sell,

While we've definitely seen prices moderate from the rapid and unsustainable climb in 2020-2022, how much they've changed is going to be different everywhere. If you look at data from ResiClub and Zillow for the 50 largest metros, this becomes very clear. The real story is split right down the middle. Half of the metros are still seeing prices inch higher. The other half? Prices are coming down slightly ( see graph below).

Compass CEO Robert Reffkin's promises for his firm to be a disruptor, and so far, he's doing a good job at that. Reffkin has talked at length in recent years about changing the residential real estate landscape. He's pushed Compass' private exclusives platform, setting the stage for a war with Zillow. Now, Compass is set to acquire Anywhere Real Estate, the second biggest brokerage firm and the parent company of rivals Century 21, Coldwell Banker, Corcoran and Sotheby's International Realty.

Some might dismiss this as hype, but history shows us how quickly consumer behaviour can flip. I'm old enough to remember back to when we first relied on the Yellow Pages, then shifted almost overnight to Google. We're already starting to see a shift towards AI-driven search, where instead of scrolling through endless pages of results you're presented with just a handful of carefully curated answers, drawn from multiple sources.

The Boston condo broker look at the photo every Friday of the begining of the Labor Day weekend , the young woman in the red dress sits on a stone wall, hair falling in loose blond waves to her shoulders. Tanned legs bent at the knees, right slightly higher than left looking out at the New Hampshire lake, she smiles confidently into the camera. One foot brushes the grass, red toe nails peeping out from the shoe.