Boston real estate is a terrific investment for a variety of reasons and the focus for many real estate investors around the world. Boston is one of the most popular cities in the United States. It’s a financial and cultural center and its influence in politics, education, entertainment, media, fashion and the arts all contribute to its status as one of the major global cities. The city boasts a high quality of life, high household incomes, and vast opportunities for cultural and entertainment activities. Boston has one of the world’s most highly-developed and integrated economies and is a hub of international business and commerce. The city is a major center for finance, insurance, real estate, media and the arts in the United States.
The Universities of Boston:
Boston is always going to be a great market for real estate investors simply because of our student base. Boston has some of the most prestigious universities in the country including Harvard, MIT, BC & BU. With the constant influx of students and young professionals, there is a virtually never ending demand for rental units. The Boston rental market is very dynamic and a few blocks closer to the university can mean a few hundred dollars a month more in rent.
“Students aren’t going to stop coming to school here, so there will always be a great demand for housing.”
Boston is a great city and our colleges aren’t going anywhere. If you’re looking for a great buy and hold investment, purchasing a multifamily building or a condo rental is a wise choice. The closer your rentals are to campus the higher the monthly rental rate but you don’t necessarily need to be next door to one of the school to grab a terrific investment. Boston has a terrific public transportation system and you can be almost anywhere in the city within 30 minutes.
The Mandrell Company always suggest an investors approach these investments with a long-term timeline. Potential buyers also need to have their financing lined up and be ready to make moves quickly. These properties don’t become available on a regular basis, so to catch a deal you have to do your homework, work with a good Realtor and be ready to make a move when an opportunity presents itself.
Realtor.com contacted TMC awhile back and asked if we could contribute to a couple articles the site was writing about investing in neighborhoods with big college crowds. They were looking for Realtors in a few different cities to write about their experience dealing with investors of college apartments. Below the link to the article they published. Check it out.Read more
Are you in the market to buy, rent or sell property in the Hyde Parka area of Boston? Before you make a move, understanding the local market can make all the difference. We’ve outlined below exactly whats happened in the single family, multi family and rental markets of Hyde Park over the last 6 months. Take a look at the numbers and see where you fit in.
Total Homes SOLD: 47
Average Living Area by Square Feet: 1,739
Average Listing Price: $391,369
Average DOM (Days on Market): 71.25
Average Sales Price: $391,895
– The average sales price is slightly higher than the average listing price which means buyers are paying above asking price for single family homes in Hyde Park.
Total Homes SOLD: 17
Average Living Area by Square Feet: 2,654
Average Listing Price: $461,200
Average DOM (Days on Market): 78.23
Average Sales Price: $436,412
Total Homes SOLD: 12
Average Living Area by Square Feet: 1,174
Average Listing Price: $216,369
Average DOM (Days on Market): 60.93
Average Sales Price: $214,958
Average Rent for 1 Bedroom Units: $1,315
Average Rent for 2 Bedroom Units: $1,650
Average Rent for 3 Bedroom Units: $1,983
Average Rent for 4 Bedroom Units: $2,425
Would you like to get your own FREE Sales and Rental Market Report catered to your specific area(s)? Just send a quick email to Contact@MandrellCo.com to receive your monthly report. We can provide you similar data for any town or city in the commonwealth.
Please call us directly at 617-297-8641, for custom reports or questions about the data provided.
Do you need to sell your home quickly but still want to get top dollar during the sale? Even in good markets the average time a typical house takes to sell is about 3-4 months. And that’s homes in great condition. Unfortunately, in today’s market, many homes remain unsold for much longer periods of time. Even immaculate move in ready homes sit unsold and often unseen, let alone homes in less than perfect condition.
Fortunately our company can help. We are associated with a group of private investors buying several houses each month in the Boston area and many surrounding neighborhoods. They are seeking properties regardless of size, location, condition, price and situation.
Are you and your property facing one of the following conditions?
- Facing Foreclosure?
- Skyrocketing Payments?
- Inherited Property?
- Missed Payments?
- Vacant Home?
Especially in today’s economy homeowners often get into situations where they need to sell a house in quickly. For many going the traditional route and working with a real estate agent, or trying to sell the home themselves “by owner” is the only option they’ve considered. This is fine in a strong market or if the home has a lot of equity where the homeowner can dump the property at a heavily reduced fee. But if this is not at scenarios a homeowner must look for different, faster alternatives.
If your property qualifies one of our investors can make you a firm written offer, usually within 24 hours. Because they use private funds they can pay cash and close quickly, at your convenience. Our company will often make the connection with these investor as no cost to you!
If you’d like to find out if your property meets our requirements call us and find out. We can be reached at 617-297-8641 (MA Residents) & 401-641-5774
Your invited to join Boston Wealth Builders at the Quincy Marriott Hotel (September 19th, 2015) as we learn how to intelligently improve our property values. Come get a better understanding of what local appraisers are looking for when determining the values they place on property and how you can ensure your home’s appreciation. This event is free to the public but you must RSVP as seating is limited.
The residential appraisal is an integral part of the real estate transaction since appraisers are the trusted vendor for lenders in the mortgage business. Whether you’re a real estate homeowner or an investor, understanding the appraisal process is a critical component for increasing your property value for the years ahead. Danyl Collings, of Forsythe Appraisals, will be addressing the following items in regards to real estate appraisals:
1.) What are the three main items appraisers are looking for when appraising real estate investment properties? Why are they important?
2.) What information can you provide the appraiser to expedite your appraisal process and getting the report into the lender?
3.) Understanding your improvements to the property relative to the property’s market neighborhood and Town/City.
4.) Why is rental income important in an investor appraisal?
Since 2009, Danyl has served as branch manager for Forsythe Appraisals, LLC – Boston Branch which provides residential appraisal services in MA, NH and RI. In this role, he is in charge of the sales, marketing, recruiting, training and report quality and delivery for the Boston Branch. Forsythe Appraisals, LLC is the largest private appraisal firm in the County with over 250 + appraisers throughout the United States.
To RSVP for this event, please click the link below. You’ll be asked to create a FREE account and join Boston Wealth Builders. Once you’ve become a member you can RSVP and save your seat. Hope to see you there!