Posts Tagged 'Regular Sales'

East Boston Triple-Deckers See Increase in Regular Sales

During the past year, many bank owned and short sale three-families have sold in the high $100,000s and low $200,000s, prices previously unheard of in the last decade.  Most of these properties have been unusually small (3-4-4 rooms) and in terrible condition, usually needing complete renovations. Only recently have we seen the reemergence of “regular” sales of three-family homes that are not bank owned or short sales.  These larger three-family properties (4-5-5 rooms), usually in decent but often outdated condition, are usually selling in the low to mid $300,000 range.  Better, more renovated properties, as well as buildings with views and houses with big yards or driveways, should start selling for more in the next few months and year.

809 Saratoga Street, an older and grand Victorian style home sold for $338,500.  236 Havre Street, an attached 4-5-5 sold for $305,000.  26 Bremen Street, a brick triple-decker, sold for $335,000.  67 Webster Street, a renovated 3-4-4 with views sold for $350,000.  227 Webster Street, a Victorian with stunning harbor views and in need of a full renovation sold for $448,500.  Currently, 228 Havre Street (asking price $340,000), 236 Maverick Street (asking price $329,000), 96 Trenton Street (asking price $369,900), 117 Webster Street (asking price $395,000) and 250 Webster Street (asking price $399,000) are all under agreement, most within just a few weeks after having been listed.

During the next year we should see more “regular” sales of standard size triple-deckers in average condition selling between $320,000 and $350,000.  Larger or more renovated properties, or buildings in the waterfront neighborhood or with great views, will probably start to sell for more.  The general East Boston triple-decker market will probably remain in the mid $300,000 range or even approach the low $400,000 range during the next year if short sales and foreclosures continue to decline.

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.

.

Advertisements

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.

 .

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.

 .