Real Estate Development – Good or Evil?

Real estate developers tend to have a tarnished reputation in most communities. People argue that developers are responsible for destroying the authenticity of a community. This authenticity is referring to the original population and the original housing established in a community. The concept of [...]

What a $4,000 rental amount will get you in the city right now:

The rental market has taken off this spring and homes are flying off the market. While the average rental price in Boston is right around $2,350 a month, prices have dramatically shot up. From fully amenitized buildings to condos in 3-family buildings, here is what $4,000 a [...]

What an amazing year 2015 was for home sellers, and 2016 promises to be even better. By December of 2015, with 5.26 million sales, we had seen a more robust housing market than we've seen since 2006. In fact, as of early 2016, America's housing market had spent 43 consecutive months as a seller's market. Lawrence Yun, the National [...]

Burns Realty and Investments Presents to you this South End Stunner!

Situated on a classic South End street lined with brick row houses, this beauty includes two bedrooms, one bathroom, and a private off-street parking space. The condo is within walking distance of the Orange, Silver and Green lines of the T. The unit is desirably updated [...]

The Boston Real Estate Market in 2017

If you live in the city of Boston, your home's property value is at a steady increase. 

In 2017, we will continue to see that Boston is a sellers market and that market in the city is very hot. According to Zillow, at the end of 2016 the average price of homes in the city was at $524,000. They are predicting by the end of 2017, home value in Boston will increase around twenty thousand from $524,000 to $546,000.  The trends are also showing that the relationship between the median list price and square footage will experience a spike in the city around February. 

Where should the investors look?

This may be one of the most frequent questions asked around the city of Boston. Within the rental market, many millennials are moving into the South Boston area (also known as Southie) because of the attractive restaurants, night life and proximity to downtown. South Boston's rental market is staying around the $2,900 mark (for a two bedroom apartment) monthly which can be appealing for investors. Although South Boston is on a steady up, Zillow is showing that North Dorchester is also at an all time high for renting two bedroom apartments. These prices are any where from $2,400 and $2,500 a month. 

For an investor looking to remodel and then sell the units in the building they buy, South Boston would be a more reliable market to flip. Median home value in South Boston for a two bedroom home at the end of 2016 was about $600,000 which is predicted to increase by 5.2% by the end of 2017. While Dorchester's price point is around $420,000 for a two bedroom home, which is predicted to increase by 5.1% by the end of 2017.  

Some people believe that Dorchester could be the next Southie. It is encouraging for investors to keep an eye on the Dorchester market because the potential is there. This market is one of the most exciting to be a part of right now. The city is opening doors for many young professionals and the real estate market in Boston for 2017 will continue to be healthy. 

Source: http://www.zillow.com/boston-ma/home-values/

Out with the Winter, in with the Spring! This Spring is very exciting at Burns Realty & Investments. We have exclusive buyer and seller promotions going on now, until May 1, 2017. For our buyers, you will receive 10% of the commission we collect back at closing. For our sellers, we guarantee that your home will be under agreement within 30 [...]

 

Purchasing a home at a foreclosure auction used to be a good way to get a bargain on a house. Times have quickly changed because more and more people have become aware of these auctions. The perception of being able to get a bargain has been further bolstered by the all time high of the housing market. Also the challenge of purchasing a [...]

 

The happiest day of every project: DEMO DAY! 

This demo day was very exciting! When dry wall came down, beautiful brick walls were exposed. Throughout this project more photos and updates will be posted through the blog! Contact us for more information. 

Coming soon, 7 INK by Ollie is located at National Developments six-acre Ink Block in South End. This project is 14-story residential building containing 250 shared suites and micro-studios.  7INK by Ollie would be Boston's first major co-living development, encouraging communal living. The building will provide unique community engagements and shared amenity spaces.

The residents will have a regular calendar of curated social activities, Cable TV, WiFi and access to all Ollie locations nationwide. Each housing unit at 7INK would be furnished and receive complimentary weekly cleaning with fresh linens and towels. What more could you ask for.  

The location is ideal, close proximity to Whole Foods, great restaurants, retailers, and fitness studios. Anticipated opening in late 2018.

 

Mount Carmel Church redevelopment in East Boston has been proposed. This project would turn the church into 13 residences.  Also, there are plans to tear down the convent across the street  and build a 6 story building with 87 Units. A part of the design for this section is to build only 4 stories high and mimic a row of townhouses. This [...]