Foreign investors are bullish on Boston

A recent survey shows that foreign investors are looking favorably at Boston for investing in real estate.
The Association of Foreign Investors in Real Estate named Boston among the top five cities in the country. The top two cities are Washington, D.C., and New York City, followed by San Francisco.
Boston ranked fourth, up from seventh place last year, and Los Angeles, fifth.
Globally, London appears to be the favorite city for investors’ real estate dollars, outdistancing Washington and New York.

Good news, bad news

This week, the Warren Group issued its report on foreclosures for the year. The number of foreclosure proceedings initiated across the state was 28.1 percent higher than last year. However, that number – 27,928 – was 5.5 percent below than that in 2007.
That’s the unsettling news. The good news is that those foreclosure proceedings completed dropped from 12,430 in 2008 to 9,269 – a 25.4 percent decline. Still, that’s higher than the 7,653 foreclosure deeds that were recorded in 2007.
A foreclosure petition is the first step in the foreclosure process.

1885 Charlestown row house now has two condos

1885 Charlestown row house now has two condos

7 Mystic St. EXTERIORTwo brand new condominiums have been built in an 1885 row house near the crest of the ridge that runs through Charlestown. The units are well planned, with floor plans and amenities that will enhance life there.

Sarah Anderson of Hammond Residential Real Estate is marketing both properties.

Unit 1 is a 1,732-square-foot duplex on the garden and parlor levels, listed at $549,000. The other duplex, Unit 2 encompasses the top two floors. It has 1,539 +/- square feet and is listed at $599,000.

Both have outdoor space. Unit 1 includes a deck and the back yard. Unit 2 has two decks, the rights to the roof if a third deck is desired, and views of the back yard and of the enchanting garden next door. 

Two Beacon Hill properties to be auctioned March 3

Two Beacon Hill properties to be auctioned March 3 

20 Brimmer St. EXTERIORBeacon Hill is a quiet enclave, and the Flat of Beacon Hill is a distinctive residential neighborhood bound by Charles and Beacon streets, Storrow Drive and Cambridge Street.

Built on filled land in the 19th century, the buildings were homes to the craftsmen and trades people who worked for others on the South Slope. Some of the structures actually were stables.

Today, however, these homes are part of the exclusive residential fabric of the city, so it was a surprise to learn this week that two properties that recently had undergone million-dollar renovations were going to auction.

One is a 5,700-square-foot townhouse at 20 Brimmer St.; the other is a three-level, 2,373-square-foot condominium at 25 Lime St., literally around the corner, about a tenth of a mile away.

Penthouse at the Vendome is filled with sunlight

Penthouse at the Vendome is filled with sunlight

Vendome, 160 Commonwealth Ave. EXTERIORThe Hotel Vendome at 160 Commonwealth Ave. was built in 1871 in the Back Bay and became the premier place to live in Boston.
 
It was so desirable that a large addition was added in 1881.
Today, the building now contains 110 condominiums that are as desirable as the hotel once was.

Roberta Orlandino of Coldwell Banker Residential Brokerage has listed No. 712, a recently updated penthouse at the Vendome, for $767,000.

Its 1,378 +/- square feet include two bedrooms, a gourmet kitchen, a living room with dining area, a study and lots of storage. 

The Hotel Vendome was filled with luxuries, and cost a million dollars to build at a time when that amount was unheard of. It was the hotel of choice of many famous visitors to Boston, including at least two presidents.


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