guest blog by: Lillian Swift

A promising fourth quarter of 2011 was a great surprise for the Boston real estate market. Demand is strong in the greater Boston area, thanks in large part to the city’s relatively low unemployment rate of 5.7 percent. There are a number of forecasters in the housing market, who despite total year numbers that weren’t as promising as short term results, believe the Boston real estate market is primed for a stronger year than it has seen in quite a while.

Boston is one of five cities that real estate giant Trulia expects to be hotspots in 2012. The others include New York and Houston, just to name a few. Modest price increases are expected during the year as well as an uptick in new construction. Boston universities and research centers are expected to be a major driver of the rebound in both prices and demand. Educational and employment opportunities are both drawing people to the Boston area. Foreclosures are also expected to decrease a little in 2012 as banks finally get through the backlog of delinquencies.

From November 2010 to November 2011, the vacancy rate for apartments in Boston fell from nearly five percent to 2.7 percent. The increased demand will lead inexorably to higher rents and rents are expected to rise by 10 to 15 percent this year. These increases will be especially noticeable in popular neighborhoods, such as Somerville, Beacon Hill and the Fenway. The higher demand for rental units could drive some in the market towards a home purchase in 2012.

While prices decreased by 2.6 percent year-over-over in the fourth quarter of 2011, they also increased by 9.9 percent compared to third quarter prices. The median sales prices for homes in the Boston metro area for the fourth quarter of 2011 was $560,260. The largest price increases during this quarter were seen in four-bedroom homes, which increased in price by an astounding 92.2 percent year-over-year. The average price for a two-bedroom home also increased and by a more-than-healthy 24.7 percent. One-bedroom homes lagged behind; prices “only” increased by 5.7 percent. Three-bedroom units were the one holdover; prices on these homes fell by 9.9 percent year-over-year in the fourth quarter.

Prices are continuing their increase in the New Year. Thus far, prices have risen by 1.1 percent since the last week in December. They have also increased by 2.0 percent when compared to the same week in 2011. All of these signs point to a steadily strengthening real estate market in the Boston area during the winter of 2012. Given some positive trends towards the end of 2011, hopefully the Boston real estate market is primed for a full year of good trends in 2012.

Spring is in the air. It’s the season for properties to begin hitting the market in earnest. I think we’ve seen the last of the snow, so by the time little green plants start peeking out of the ground you should be prepared to hit the open house trail if you’re in the market for a new home. 143 new properties have hit the market since January 1, but 96 of those came on this month. It’s clearly getting ripe around here. I’m pleased to say I have a number of new homes hitting the market as well. Four this week, a couple next week and hopefully several more over the next month or so. I’m pretty excited about this newest batch of homes – they’re all exceptional values and beautiful. I have open houses all weekend and even a Commuter Open House on Monday for those of you with a little time when you get off the train on Monday. In no particular order, I’ll give you a brief run down on each of them and some of my favorite photos from the shoots. By the way, if you’re in the market, or even just considering it, you might want to sign up on my website as I have some super cool tools that the average home buyer will find quite useful. Ever been scrambling around on a Sunday (lacking the appropriate caffeination) trying to pull open house info from the Boston Globe, Boston.com, some random real estate website, etc? 45 minutes later your hunched over your computer furiously loading all the properties into Google maps and cross-referencing the open house times? No more! Check out my open house search tool. Just plug in your parameters and viola! you’re in business. all the available open houses are magically delivered to your screen, mapped and chronologically ordered. Pretty cool, eh? Sign up for an account for lots of other goodies. Anyway, the task at hand. The smallest of my three new homes is a loft-like condo in The Brewery District adjacent to Stony Brook station between Boylston and Porter. As described in MLS:

 

 

Perfection. Design, efficiency and location. Brewery District loft steps from Stony Brook Station. Total renovation from basement to roof. High-efficiency heating and point of use, on-demand hot water for kitchen and bath. Amazing insulation in walls and roof. Incredibly well thought out design including cabinetry, and built-in oak/aluminum wardrobe. Roof rights and nice rear deck. This is a great space to just sit and enjoy the light and quiet – it has a certain Zen quality about it.

These descriptions aren’t as easy to write as you think so keep that in mind. Criticism welcome as long as it’s accompanied by a suggestion. This unit is seriously wonderful. It’s going to make some one very happy. I sold it several years ago at Arthouse and they had to pry it from my kicking and screaming then too.

 

 

This is the perfect starter pad – not just because of the price point, but it’s been renovated really well. Way better than what is typical for a unit like this. Over insulated, thermal panes and steel doors make it efficient, but also really quiet. The look of the ceiling is obviously cool but check out the Miele washing machine/dryer. Under sink you’ll find a point-of-use, on demand hot water system. It runs the kitchen and the bath. Sweet! Open house Sunday April 2, 1:30p-2:30p. I’ll be having a commuter Open House on Monday April 4th, 5:50p-7p.

Next on the list is a single family home on 30 Neillian Crescent, on Moss Hill in Jamaica Plain. This home is one of the best values on the Hill in a long time. It may not be the cheapest ever, but it’s definitely priced right – especially considering the condition:

Beautiful open-plan home in highly desirable neighborhood. New kitchen w/SS apps and large prep space. Guests can sit in dining rm and chat w/the host or lounge in living rm in front of fireplace. Picture window looks out over quiet street of well-maintained homes and enormous corner lot. Each bedrm is bigger than the next with a large master facing the rear of the home. Huge, open family room with direct-entry garage and 3/4 bath. Short walk to Larz Anderson Park. Short commute to Med area.

 

30 Neillian Crescent Open Houses Sat April 2, 12-1p & Sun April 3, 1:30-2:30p

 

 

Finally, last but not least is 41 Bournedale Rd, Jamaica Plain. This is the Woodbourne Neighborhood. There are a handful of duplexes just like this one in the “Bourne” neighborhood and I’m a big fan of the layout. They have kitchen, dining and laundry all in the back with a door to the back porch and yard. There’s a tiny hallway separating the dining area from the living room. On one side of it the designer snuck in a built-in hutch. It’s a nice little surprise when you come around the corner. The living room has a wood burning fireplace and a set of stairs that gently curve upstairs out of site. Very cute. My favorite thing upstairs is a cozy reading room just off the master bedroom. I’d spend a lot of time there if it was my place. Here’s what I wrote on the MLS:

Charming 2 story home w/perfect plan. Property has feel of a house rather than a condo. Open kit/dining room opens to covered porch. Enjoy your morning coffee listening to the birds chirp in the wooded yard. Granite counters and stainless steel appliances. Breakfast bar separates kitchen from dining room with built-in hutch.Walk to T, conservation land, shops and restaurants. Ask about Forest Hills Initiative for exciting information about area future development.

Somewhere Hipsters are gathered around expensive beer, reading these out loud and making fun of me. So be it. Come by this Sunday 3rd and we can have coffee together on the back deck from 12-1p.

 

 

[caption id="attachment_1071" align="aligncenter" width="567" caption="Sunroom/reading room off the master bedroom"][/caption]

 

New data is always hitting the wire on housing data. It seems to be John Q. Public’s favorite indicator of financial well-being.  Zillow posted some interesting parameters that should probably be taken with a grain of salt. My experience is that Zillow can be wildly inaccurate, but my bet is that when looking at the entire real estate market as a whole – probably a decent snapshot.

Zillow has Jamaica Plain outpacing all of it’s neighbors, including but not limited to Roslindale, North Dorchester, West Roxbury, Mission Hill, etc.  The multiple listing service provides very accurate, real time data as well. In comparison, Jamaica Plain has remained surprisingly level over the last five years.

I’m no analyst mind you, but it seems to me that we have a much healthier market now. While the number of homes on the market spiked throughout 06′, the number of properties going under agreement and making it to closing is very strong. I attribute this market resilience to our strong community. Despite the best efforts of the recession, Jamaica Plain drew a hipster line in the sand and we’re not crossing it.

$/SF values are a good way to commoditize real estate values if you’re looking at large quantities of property. It’s too easy to get hung up on the listing prices and overlook the varying size of a given unit.

If you would like more relevant real estate market data – feel free to ask for customized reports. I can drill down to almost any parameter and track it. Just email me at www.TheBostonHomeTeam.com, or better yet, check out our new website and sign up for regular market updates.

Are you in the dog house? Have you besmirched your good name? I have an opportunity for you to redeem yourselves. At the base of beautiful and historic Sumner Hill, across from the old Congregational Church,  you will find this gorgeous Mansard Victorian. Bring your sweetie and give the Valentine’s Day gift of a lifetime! We’ll be having an open house for neighbors only from 11a-11:30a, and then a public open house from 11:30a-1p.

A landmark property to anyone who travels the streets of Jamaica Plain – the unique overhang is thought to be an architect’s sneak. There’s about 70SF hanging out over the sidewalk. Don’t quote me on that little historic tidbit – I’m not sure where I heard/read it anymore. I’ve got a request into a local historian to find out what I can on this lovely manse.

Fully one-third of this home resides out of view from the street. There is another unit that is roughly half the size of the upstairs, that opens on three sides the the pretty back yard. It’s really neat to see the massive, rough hewn granite blocks that form the foundation under the sidewalk. You can see it from within the fence at yard level.

This stately home got a serious facelift less than 10 years ago. The entire Mansard “hip” was replaced with architectural shingles, new windows and soffits were added as well as copper gutters and downspouts. Quite a bit of old siding was replaced at this time as well. Generally, the exterior is in perfect condition. The current owners have done a smashing job with the interior as well. Josh & Julie have added their own brand of sophisticated, modern charm. There’s definitely more than a hint of the Orient in the decor – including a very tasteful bamboo wall treatment in the master bedroom.

There are three bedrooms that are  small, medium and large and have a gentle slope to the wall from the roof line. It adds a lot of charm and character without adversely effecting the layout or space whatsoever.

If you’re used to New England bedroom sizes, you’ll find the master suite to be a pleasant surprise.  It’s spacious and light with views out over the neighbor’s roofs to Green Street and the grand architecture of The Bowditch School. The bedroom opens to the bath by passing through a custom closet outfitted with a very well thought out organizational system. Someone with lots of clothes and an analytical mind clearly designed it. The bathroom is large for a Victorian. I doubt this room always served as a bathroom, but it certainly should have. There’s an old clawfoot tub and some bath fixtures that are reminiscent of the period, but in reality everything is new.

There is another full bath on the second level for the other two bedrooms. All the rooms open off a landing flooded with natural light from a skylight opening above the exposed rafters. Downstairs, the first floor flows just as well. The kitchen, dining and living rooms are large and perfect for entertaining – although, make everyone take off their shoes because the floors are truly luminous and it would be a crime to mar them.

The kitchen isn’t so easy to pin down to a specific style. Although the Bosch stainless steel appliances and white cabinets give it a decidedly modern look, the counters are darkly stained wooden butcher block that have a warmer feel than the typical granite counters that are so common of late.

There is a laundry cabinet that doubles as a pantry adjacent to the kitchen – and an ample deck through sliding glass doors, leads down to a beautifully landscaped yard.

The dining room is probably my favorite room in this house. One wall is covered with books, and the others are practically all windows – looking out over the yard, deck and Green Street. There’s a large closet as well, so if you put the table in the kitchen this could actually be a fourth bedroom or an office – but I think it’s configured best as it is.

The location doesn’t really get any better. When I write that this home is steps from everything – I mean it. Maybe 127 steps to the subway? (Give or take 10.) There are shops, boutiques, restaurants, pubs, etc. just a few blocks away on Centre as well as the Mosaic school across the street in the Congregational Church, and Hollow Reed up on Sumner Hill.  There’s a playground around the corner with water sprinklers in the summer and a great play structure. Further up Lamartine Street there’s a baseball field, basketball courts, the list goes on and on.

Check out our website at www.TheBostonHomeTeam.com for more information on this home and other property in and around Jamaica Plain as well as  the virtual tour at www.84Seaverns.com.

Happy Mother’s Day to all you Moms out there! I hope you have a great day and may all your children be as amazing as me. Seriously, we have three great open houses today – and there’s something for everyone.

More details at www.TheBostonHomeTeam.com

Open House Sunday 23rd, 12p-2p

A perfect mélange of Modernist sensibility and New England Colonial. From the outside this home is an unassuming Colonial set well back from the street. This home has an incredibly flexible plan. Good design allows for a three bedrooms and three full baths with kitchen and dining rooms, living room and family room. However, some may trade the family room for an opulent master suite with direct access to a private brick patio.

Just off the entry foyer you are greeted by an inviting and highly functional kitchen and dining area. No expense has been spared. Recessed lights run the length of the room all set on dimmers for mood. Beautiful glass mosaic tiles accentuate the honed granite counter. The entire kitchen was designed and installed in 2004 including Dacor range, oven and microwave, Amana Fridge, Bosch dishwasher and Kohler sink and professional grade faucetry. The custom finished cabinets are one of a kind and add a friendly playfulness to the room.

A short flight of stairs up from the kitchen lead to a loft-like living area where your family can gather around the gorgeous fireplace with glass tiled surround. A short flight downstairs from the kitchen leads to a modern family room with bamboo flooring and sunshine pouring in from the glass doors leading out to the private brick patio. There is a full bath with exquisite marble and glass tiling, heated towel rack and an enormous glass enclosed shower. There is also a small laundry room with Bosch washer and dryer.

The upstairs bedrooms look out over the landscaped grounds and patio areas. There are three bedrooms upstairs and two more full baths in the original part of the home. Both bold, sophisticated baths are finished in stunning slate, marble and glass tile, Samuel Heath, Villeroy & Boch, Duravit and Hoesch.

There is 2 car parking off street, a new garden shed and a full basement for all storage needs. Located advantageously steps from two different T stations, Doyles & The Midway Café, The Emerald Necklace Park System and one of JP’s newest tot lots.

I was interviewd on NPR and it aired this morning. That was a real interesting experience, let me tell ya. I wish I had a few minutes to think about what to say… I would have been a bit more positive. All in all the piece wasn’t so bad. It paints a bit of a bleak outlook, however. The “chumming the water” comment leaves the listener with macabre scenes of blood and bone. Oh, well. The Jamaica Plain real estate market is actually moving quite well. We’ve had 8-10 closings this month already (1 a day) and this happens to be my best year ever. I guess I just played into all the doom & gloom media…

Okay, I know, it’s kind of cheating to make the “Home Of The Week” a property that I, in fact, am representing. Seriously look at this property and tell me I’m wrong! This home is perfect. The owners, Alison and Andy (isn’t that cute) are two Brits with great taste. They bought this home as a fairly standard Garrison Colonial and transformed it. Over a period of about 3-4 years they poured their hearts and souls into impeccable design and space planning. They added an 18′x19′ addition that spans three levels if you include the basement. They never have gotten around to finishing off the basement space yet, but it would make a wonderful media room or studio. All three levels keep their continuity via an attractive modern spiral staircase. They didn’t skimp either, normally this 230lb, 6’2″ Realtor isn’t fond of spirals, but this one gives me no trouble at all.

The original part of the house had a very good layout and would have been considered quite adequet by most. However, the new addition adds spacious flexibility, allowing for formal and casual areas of the home. (Or just lost of casual space.) The kitchen is the heart of this home, located dead-center on the 1st floor. All rooms radiate out from it making a great space for entertaining. By climbing the front stairs you access a spacious landing, a full bath and all the bedrooms. One could use this home as a four bedroom, but greedy me – I’d make it a three bedroom with a monster master bedroom suite. Wait until you see the master bath! It has a double shower/steam room, air jetted tub, double sinks, skylights, exquisite tile, etc. I could go on and on. Incidentlely, this is probably a good time to mention that all of the light fixtures are from either Wolfers (my favorite!) or Restoration Hardware. Configured this way there’s a really nice sitting room between the master bed and bath. Personaly, I’d put a little flat screen in there, hide a mini-bar somewhere, and lock the doors. I’m not going to go on and on about this house. You can check out the virtual tour here or better yet, call or write me for an appointment. You will find a complete list of improvements dating back to 2005 in PDF format on my website.

Write in and guess the sale price! I’ll post it up when it closes.