East Boston Showing Shortage of Available Single-Family Homes

According to June MLS data, East Boston is showing a sudden shortage of single-family properties on the market. Currently, there are 12 available single-families in East Boston. Only one of those properties is bank owned—a slanted, 1,248 square foot colonial with parking at 210 Havre Street for $83,900. Another is a short sale.

The remaining properties, offered by regular sellers, range from an adorable 937 square foot fixer-upper at 19 Haynes Street for $159,000 to a 2,802 square foot Eagle Hill Victorian built by shipbuilder Donald McKay at 56 Putnam Street. Its price is $374,900. There are currently 7 single-family homes for sale between $200,000 and $300,000 in East Boston, ranging from Orient Heights to Eagle Hill.

June was a busy month, with offers accepted on single-family homes on Saratoga, Eutaw, Bennington, Horace, and Wordworth Streets. Another was accepted on Murray Court. Varying in condition, these properties were all priced right, with 3 of them priced over $200,000, and four of them priced under $200,000. There currently seem to be more qualified buyers than available properties in the single-family market.

Please check back as we continue to update you on East Boston real estate happenings. To see all our listings, or to search MLS properties, head to the Tony’s Realty Website.

Email Tony with your questions or comments.

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Regular Sales Fetch Higher Prices than Bank Owned Sales or Short Sales

In the last three months, 16 triple-deckers have sold in East Boston, ranging in price from $135,000 for a rundown, bank-owned, gut-rehab at 204 Princeton Street to $350,000 for a completely renovated and smaller property located at 67 Webster Street. Of the 16 properties, 4 were bank owned, 7 were short sales, and 5 were regular sellers. A “regular seller” is an individual, not a bank, who owns a property and who usually sells for more than what is owed on a mortgage.

Two of the bank owned properties were in decent condition, not requiring a gut rehab. 51 Wordsworth Street was sold in one day. The asking price was $190,900. The sale price was $230,000. A very large bank owned property at 316 Saratoga Street was listed for $325,000 and sold in six days at asking price. It is not uncommon for well-priced bank owned properties to sell at or above list price.

It is interesting to note that four of the five most expensive three-families to sell, all between $290,000 and $350,000 were not bank owned. These properties—67 Webster at $350,000, 26 Bremen Street at $335,000, 358 Meridian Street at $320,000, and 499 Sumner Street at $290,000—were all in very good or excellent condition and sold for prices higher than most bank owned or short sale properties.

Please check back as we continue to update you on East Boston real estate happenings. To see all our listings, or to search MLS properties, head to the Tony’s Realty Website.

Email Tony with your questions or comments.

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Tony’s Realty in the News

See this June 19, 2009 New York Times article where Tony is quoted regarding the topic of triple-deckers:  Hard Times for the 3-Decker, New England’s City Backdrop

Lamson Street Condos Sell with Right Pricing

Despite recent talk that the national real estate market has collapsed, there are indications that there is a strong demand in East Boston for excellent, well-constructed residential properties. This is evident in the recent sales of three Lamson Hill Condominiums located at 1 Lamson Street in Jeffries Point, which recently sold between $385,000 and $392,500. A fourth and final unit is currently under agreement.

Located in an almost entirely rebuilt fourplex overlooking Jeffries Point’s Brophy Park, these four condominium units offer fine amenities: gleaming hardwood floors, gourmet chef kitchens with stainless steel appliances and granite countertops, central air conditioning, 3 bedrooms, 2 1/2 baths, rental parking (included in a reasonable condo fee), square footage between 1,684 and 1,757, and a top notch location. In 2008, these units went on the market with asking prices in the high $400,000’s; they did not sell. In January 2009, they were marketed with new prices between $389,900 and $409,000, and within several months they all sold.

While a current demand might not exist in East Boston for million dollar condominiums or homes, there is a steady and strong demand for well built, designed, constructed, and located housing. It appears that properties meeting these criteria will not remain unsold.

Please check back as we continue to update you on East Boston real estate happenings. To see all our listings, or to search MLS properties, head to the Tony’s Realty Website.

Email Tony with your questions or comments.

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East Boston Offers a Great Selection of Single-Family Homes

East Boston currently offers a small but wonderful selection of single-family homes for under $250,000. Some have been completely renovated, others have had major repairs or upgrades, and some need a little work. All would be great purchases at prices not available one, two, or three years ago.

Three of these homes are between Orient Heights and Wood Island. 810 Saratoga Street is a cute home priced at $129,000. It has an older style kitchen, bath, and decor, but a newer roof and functioning heat and electrical systems. At $169,000, 90 Wordsworth Street is an adorable two-bedroom home with a great deck and a large, landscaped yard. All of its systems have been upgraded. 692 Bennington Street is a wonderfully renovated three-bedroom home with an additional family room along with a beautiful kitchen, living room, and formal dining room. Its price is $239,999.

South of Day Square, 115 Bennington Street has two large bedrooms and one small bedroom. This completely renovated single-family sits among stores, restaurants, and shops and is within walking distance to Central Square and the Airport T. It is $239,000. In Jeffries Point, 5 Murray Court has 3 bedrooms, 1 1/2 baths, upgraded systems, and lots of additional space. It is priced at $229,000. Both of these properties are offered at prices unheard of several years ago.

Please check back as we continue to update you on East Boston real estate happenings. To see all our listings, or to search MLS properties, head to the Tony’s Realty Website.

Email Tony with your questions or comments.

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Single Family Home New to Market

Tony’s Realty has recently listed a completely renovated single-family row house at 115 Bennington Street, between Central and Day Squares. This home has been in the same family for many decades. The heating systems and windows are newer. The kitchen, bathroom, flooring, plastered walls and ceilings are brand new. The roof was replaced in November 2008.

This home is very sunny. It has gleaming hardwood floors, two very large bedrooms, one smaller bedroom that can also be used as an office or den, a beautiful eat in kitchen with a gas stove, and lots of closet space. The large basement has a new hot water tank, a washer/dryer hook up, and a door that leads to a small yard ideal for gardening or pets.

The home is located in a row of well kept, mostly owner occupied single-family homes, and is extremely close to restaurants, stores, and the new Bremen Street Park and Airport T Station. It’s priced at $239,000.

Please check back as we continue to update you on East Boston real estate happenings. To see all our listings, or to search MLS properties, head to the Tony’s Realty Website.

Email Tony with your questions or comments.

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Newer East Boston Developments at Affordable Prices

The current real estate downturn has made it much easier to find a home at prices more reasonable than even a year or two ago. The difficulty can sometimes be finding a reasonably priced home in tip-top condition. “Affordable Housing” developments, or units, oftentimes provide opportunities to buyers within certain income brackets to purchase new construction or gut renovated properties at reasonable prices.

One such example is 429 Border Street, a two-bedroom condo currently on the market for $184,500. This home has sweeping views of the waterfront and Tobin Bridge from both its living and dining rooms as well as its private deck. The unit also comes with one deeded parking space. It is new construction, under two years old, and built to last.

When Porter 156 was built, it introduced East Boston to loft living. It also introduced loft living at affordable prices. One such unit is 226, which is currently on the market for $239,000—the most reasonably priced unit currently on the market at Porter. The unit comes with the same amenities expected from a Porter loft: expansive windows, bamboo floors, open space, subway tiles in the bathroom, and one deeded parking space. The only difference is its affordability.

“Affordable Housing” oftentimes provides buyers the option to purchase a home in great condition and at a reasonable price. And most of these homes can be sold and resold with a reasonable increase in value.

Please check back as we continue to update you on East Boston real estate happenings. To see all our listings, or to search MLS properties, head to the Tony’s Realty Website.

Email Zaragoza with your questions or comments.

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Jeffries Point Single-Family Perfect for a City Dweller Craving Space

Tony’s Realty has recently listed 5 Murray Court, a wonderful single-family home in Jeffries Point. In excellent condition, this 7-room home has 1,548 square feet and was completely rebuilt in 1985.

There are three levels of living space, each zoned with gas heated forced hot water, in addition to a full basement and attic for storage. There are three large bedrooms, a second floor den, an additional room used as an office, one and one half baths, and ample closet space. The home has both first floor and second floor decks.

This is perfect for a city dweller craving lots of square footage and low maintenance while still having easy access to the Maverick T Station, Piers Park and all the quaint restaurants and shops in Jeffries Point. The asking price is $245,000. An open house will be held Sunday, May 17, from 12:00 to 1:30pm.

Please check back as we continue to update you on East Boston real estate happenings. To see all our listings, or to search MLS properties, head to the Tony’s Realty Website.

Email Tony with your questions or comments.

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There’s a Strong Demand for East Boston Properties in Excellent Condition

Even though our country is in the worst financial straits since the Great Depression, recent sales during the last two months of certain East Boston properties show there is a strong demand for good properties in excellent condition in our neighborhood, and there are buyers willing to pay for and occupy them.

Recently, a 1,906 square foot 4 bedroom single-family with parking in excellent condition sold at 30 Annavoy Street for $350,000. A two level, 1,757 square foot brand new condo with parking on Lamson Street in Jeffries Point sold for $392,750. At 281 Webster Street, a top floor, 1,036 square foot brand new condo sold for $322,000. Two top floor lofts, each with two garage spaces, sold at Porter 156 for $360,000 and $367,000. A beautiful two-family with four garages at 28 Orient Avenue sold for $370,000. A unique 4,102 square foot two-family consisting of a brick single and an attached townhouse with 2 garages and ample parking at 50-52 Ashley Street sold for $475,000.

There have been buyers in East Boston willing to pay over $300,000 for larger homes in excellent condition with excellent room layouts and sufficient parking (although plenty of properties without private parking sell). Stagnant sales are more prevalent among properties that are in bad condition, have poor room layouts, and are overpriced.

Please check back as we continue to update you on East Boston real estate happenings. To see all our listings, or to search MLS properties, head to the Tony’s Realty Website.

Email Tony with your questions or comments.

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Competitively Priced Single-Families Sell Close to Asking

Between January 1 and March 31, 2009, only four single-family homes sold in East Boston. None were bank owned (foreclosed) properties, one was a short sale, and three were regular sales.

Of the three “regular sales,” one property was a recently renovated 835 square foot, three bedroom, semi-attached row house on Everett Street. The list price was $189,000. The sale price was $174,000. The second property was a vacant and completely renovated 1,106 square foot house on Morris Street. The list price was $209,000. The sale price was $205,000. The third property was an older and larger 3,635 square foot home on St. Andrew’s Road. The list price was $329,000. The sale price was $265,000.

Even though there are many bank owned sales and short sales in East Boston, there still is a strong demand for decent housing—especially renovated properties. When a property is priced right, buyers will usually pay very close to asking price.

Please check back as we continue to update you on East Boston real estate happenings. To see all our listings, or to search MLS properties, head to the Tony’s Realty Website.

Email Tony with your questions or comments.

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