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Brookline condo for sale

15 Thatcher Street #5, Brookline MA 02446

15 Thatcher Street #5, Brookline MA 02446

Gorgeous, top floor, three bedroom condominium near Coolidge Corner, overlooking Knyvet Park. 

 

This home has a comfortable circular layout. Main living area faces South with canopy view of the park. Extra large living room and dining room open to kitchen with skylight and plenty of closets. The bedrooms are separated from the main living area. Master bedroom features a full bath with double sinks. Two more bedrooms are spacious and perfect for kids, guests or home office. In-unit laundry room plus extra playing nook nook adjacent to kitchen. Thatcher is a beautiful quiet street lined with mature oak trees. This home has been lovingly updated, and is move-in ready. Pre-war charm with hardwood floors and high ceilings. The convenience of parking and extra storage in basement. Easy access to B and C lines, steps to Rose Garden and Amory Park. 

Take a look at the gorgeous pictures:

Specifications:

Rooms 6
Square Footage 1885
Bedrooms 3
Bathrooms 2
Parking 1, off street, outdoor
Storage outside Unit Yes
Condo fee  
Taxes $11,028 (does NOT reflect residential Exemption
Price $1,350,000

 

Schedule your private showing or request the open house schedule. Give us a call at 617.291.0323 or send an email to Ruth@MalkinREGroup.com

22 Chestnut #216 Brookline

22 Chestnut Place #216, Brookline

22 Chestnut Place #216 in BrooklineCheck out this newly listed meticulously maintained two bedroom, two bath condominium with garage parking in desirable elevator building.

Unit faces lush backyard view and mature trees allowing for privacy.  Spacious, open living room – dining room, white kitchen with updated appliances, and newly finished hardwood parquet floors.  Large master bedroom features a walk-in closet, en-suite full bath.

Freshly painted and ready to be enjoyed by new homeowner.

Excellent in-unit storage including a walk-in coat closet, and hallway lined with closets.  Extra storage in basement. Laundry across the hall from the unit, one garage parking space included.

Sargent estates features concierge, outdoor pool, beautiful grounds.  High owner occupancy and reserves.

Nestled in serene Brookline neighborhood yet less than half a mile to D line station and Brookline Reservoir.    

Check out the photo gallery:

Specifications:

Two bedrooms

Two bathrooms

1,097 square feet

1 garage parking space

Condo Fee: $679

Taxes: $5,359.09

Price: $729,000

Schedule your private showing or request the open house schedule. Give us a call at 617.291.0323 or send an email to Showing@MalkinREGroup.com.

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Brookline MA

 

313 Tappan

313 Tappan Street #2, Brookline

313 Tappan Street #2, Brookline

Lovely high first floor condominium in Washington Square. Located at desirable “Terraces” complex, just steps to both C and D lines, in a quiet and serene setting.

High ceilings, hardwood floors, and beautiful original woodwork through the unit.

Fireplace in large living room, spacious dining room perfect for entertaining.

Kitchen has granite counters, stainless steel appliances, and access to private porch.

Master is an extra large bedroom with en-suite bath, generous second bedroom plus another full bath with subway tiles.

Excellent storage space including coat closet, linen built-in cabinets, and extra private storage in basement. In-unit washer and dryer.

Parking space included.

 Check out the photo gallery:

 

Specifications:

1,243 square feet

2 bedrooms

2 bathrooms

1 parking space

Price: $849,000

Schedule your private showing or request the open house schedule. Give us a call at 617.291.0323 or send an email to Showing@MalkinREGroup.com.

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Brookline MA

 

condo conversion

Should I Do a Condo Conversion for My Multi-Family House in Brookline?

If you own a two or three family house, I am sure you thought about the option of converting the house into condominiums.

 Watch this video to learn about condo conversion of a multi-family home in the Greater Boston area:

Doing a condo conversion is a tempting prospect, especially in a booming real estate market. Since the sum of condo values will exceed the house’s value, it is an idea worth exploration.

But just because the market is hot doesn’t mean it will be profitable for you!  Whether or not you should turn your two or three family house into condos depends on a few factors.

Here are three important questions to ask before you consider a condo conversion for your house.

1. What is the value of the home as a single entity versus as condominiums?

Your very first step is to ask a highly experienced real estate agent to give you a current price evaluation. The agent will need to provide you with a market analysis for several properties.

  • One analysis will be of the current market for multi-family houses Brookline.
  • Another analysis will be for the condo market in your neighborhood. For each unit in the building you will need a separate analysis, unless they are identical.

Once you know the value of the homes, you will be able to figure out how much you are willing to spend on a condo conversion.

Paperwork for cash money

2. What are the costs associated with the condo conversion?

There are several steps to the process, and each will cost money. There are two substantial expenses in a condo conversion.

– Legal expenses.

You will need to hire a real estate attorney who will write and file the documents, and advise you on the legal process. This may cost $12,000-$15,000.

– Rehab expenses.

This will be the bulk of your expenditure. In order to sell a two family home as two condos, the City will need to inspect the home and ensure it is up-to-code.

If your house is built in the late nineteenth century or early-to-mid twentieth century, like the overwhelming majority of the multi-family homes in Brookline, it is likely there is considerable work to do to get the house up to current standards.

I am not talking about the cosmetic changes.  These are electrical, plumbing, building and safety upgrades, and getting the property up to current codes required in order to obtain a certificate of occupancy necessary to close.

I cannot estimate this cost. If you’ve maintained and updated the house meticulously over the years, it may be $10,000 of various upgrades. If your house is needs a lot of work, it can cost $300,000. There is no way to estimate this without a licensed contractor.

– Expense of selling the home.

Other than the commission, which will be a percentage of the sales, you may also have to supply an engineer’s report for the condo conversion.  This will likely be less than $1,000.

 3.  Do I have the time, energy, and financial resources (cash) to do the necessary work?

This question is self explanatory.  You need to want to do the work involved in a conversion and have the money to pay for it.

Click on the link if you are curious to learn the value of your Brookline multi-family house. Or fill out the form below.

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61 Thatcher St.

Coolidge Corner – Rare 3 BR Condo – 61 Thatcher St. #3

Coolidge Corner is in hot demand right now. Walkability, convenience, prime location, a bustling neighborhood . . . you can have it all in this newly listed 3 BR condo.

 

Three bedroom condominium near Coolidge Corner.  Sunny, second level home with easy floor plan.  Foyer and front hall are welcoming and cheerful, leading to spacious living room with french doors.  Windows overlook beautiful Thatcher Street. Separate formal dining room and three bedrooms, all of them bright and inviting. Hardwood floors throughout and updated baths.  Private porch off the kitchen.  Parking is included, located in the back of the building.  Quiet side street walking distance to transportation, C line, B line, Amory Playground, Boston University.  Steps to both Beacon and Commonwealth Avenue.

Basic Information:
3 Bedrooms
1.5 Baths
1,311 Square Feet
Parking

$839,000

Click To Learn More About Coolidge Corner

 
 

Coolidge Corner is the one of the most walkable neighborhoods in the Boston area.  It is perfect for anyone looking for a home which is close to Downtown Boston, enjoys using the T, and likes to walk to the best restaurants and shops around.  Anywhere you live in Coolidge Corner, you are just steps from a lovely park.

Schedule a Showing for a Listing

Beat the crowd of home buyers by scheduling your showing now. *YOUR INFORMATION IS CONFIDENTIAL AND WILL NOT BE SHARED WITH OR SOLD TO ANYONE, EVER!*

condo

Luxury Condo Market in Boston and Brookline

Residential real estate is in short supply in Boston and Brookline, there is no question.  This week’s Wall Street Journal had an article about the first time home buyers getting squeezed due to the low inventory and surging prices around the country.  Greater Boston is no exception.  

The pressure on the younger buyers is coming from the lack of inventory and surging prices.  But while the home market gets more expensive, developers seem to be putting much of their effort into luxury property.

Despite the opportunity in entry level and mid-level housing, luxury properties have been the focus of developers in Boston and Brookline, which may soon lead to an over-supply in the high-end market.

Home Worth1

Looking at the Luxury Condominium market in Boston, defined as condominiums priced $1,500,000 and higher, here is a snapshot of three points in time:

  • On April 19, 2015, there were 112 luxury condos on the market, with an average of 96 days on market.
  • Six months ago, October 19, 2015, there were 144 luxury condos available in Boston with an average of 98 days on market.
  • April 19, 2016, there are 166 luxury condos on market with an average 104 days on market.

As of mid April 2016, there is nearly 6 months worth of supply, which means if no new listings come on it will take current inventory six months to sell.  This doesn’t count the projects in the pipeline, only those listed on Multiple Listing Service.

The population growth in Massachusetts, and Boston in particular, will eventually absorb these properties and the coming supply of properties….eventually.  But expect the luxury market will soften in the meantime.  Luxury home buyers are faced with options in the City, both in the variety of condominiums but also with the additional incentives of luxury rental properties popping up all over Boston.

All this luxe development is in the face of the shortage and decreasing inventory of entry level and entry level and mid-level housing for the young Bostonian population.  

For condos priced under $1,500,000, the inventory of condos has shrunk 16% since last April, from 426 condos available late April 2015, to 357 condos on market 2016. This reflects approximately five weeks of supply, (to distinguish from the 6 month supply of luxury condos).   The market is much tighter at prices below $1,000,000.  

In Brookline, MA, where luxury condos are priced $1,200,000 and higher, the market is significantly smaller.  But the trend is similar.  Luxury condos in Brookline have a five month supply of inventory, while the rest of the market has a five week supply.

As the majority of the condo market trend in Brookline and Boston continues to tighten, the luxury market is more balanced and tamed.  The very high end becomes soft and fluffy, while housing becomes less affordable to the first-time home buyers in Greater Boston.
RuthBio1

 

market analysis

Brookline Real Estate Market 2015 Summary

It was a hot hot hot market in Brookline in 2015, as predicted.  What was not predicted was that the inventory would barely budge.  This pushed the prices higher as demand outstripped supply yet again.

brooklineCondominiums account for the bulk of the transactions in Brookline.  Average prices increased by 8%, the same as the average price increase the previous year.

Year Number of Sales Average Days on Market Average Sale Price
2013 541 26 $689,000
2014 496 37 $744,000
2015 521 31 $804,000

The single family housing market in Brookline is also suffering from a shortage, which pushed the average price up by 11.8% in 2015.  The average price of a single family house in Brookline now exceeds $2,000,000.

brookline house

Year Number of Sales Average Days on Market Average Sale Price
2013 179 80 $1,544,000
2014 169 83 $1,803,000
2015 175 71 $2,015,000

 

Days on market for houses are much longer than in the condominium market, but probably skewed by the length of time it takes to sell the higher end homes, where prices are $3,000,000 and up.  Those houses alone average 155 days on market.  So, the 71 days on market average to sell a house in Brookline overstate the majority of the market, which is much more nimble at lower prices.

What to expect from the Brookline real estate market in 2016?  A similar condominium market, but with about a 10-15% increase in inventory, and a slightly smaller increase in price.  The single family market will also see a tamer increase in prices, but still a robust market.  The higher end may see a bit more inventory and thus will slow down.

RuthBio1

 

finding best real estate agent

3 Tips to Negotiate Real Estate Commission

finding best real estate agentIt’s a common situation all real estate agents experience. We are discussing the benefits of our services with a perspective seller, and the commission bomb is dropped: “Is the commission negotiable,” the homeowner asks.

“Some agents will do this for 4%,” is another comment I hear often in Brighton.

While most agents fear the commission questions, I welcome them. It is my opinion every perspective seller who did not ask about it, wanted to do so, but didn’t feel it appropriate. It’s on everyone’s mind.

Here are three tips on how negotiating real estate commission, and the replies to expect from the agents you interview for to sell your condo or house in Brookline, Brighton or Newton.

1. Invite more than one real estate agent for a presentation. More options will give you leverage. Tell the agents you are interviewing others.  Knowing this, some agents may offer you a better commission price on the spot or expect to negotiate.

The best real estate agent you will interview will be unfazed by competition and follow-up when you finish interviewing. A highly qualified real estate agent who believes in what she does will not offer a discount.

2. Ask for a specific discount. When home sellers ask me the vague question, “Is the commission negotiable,” my answer is, “Only if you want to pay more.” Everyone laughs, subject is dropped.

When you ask for a specific commission reduction, “Can you reduce it by 0.5%?” for example, the answer must be more specific. A weak real estate professional will be caught off guard and likely say yes.

Your best candidate will say no, and tell you why. The commission breakdown should be transparent. You’ll understand why a 0.5% break for you is a 25% discount in the listing agen’ts compensation. Would you take a 25% pay reduction from your boss? You’d probably look for a better job.

3. Don’t be timid. Most home sellers interviewing real estate agents are uncomfortable negotiating and shy about asking for the discount. Many real estate agents rely on your timidity to get paid full price. If you do not ask the hard questions, you may not find your best candidate.

The best real estate agent to sell your home will never offer a commission discount up-front, and will not yield on negotiating the commission. An agent ready to negotiate commission will be all too ready to negotiate the price of your home and terms and conditions for your sale. If you can easily negotiate with an agent, you should be wary of hiring him to represent your interests.

Instead, use the real estate commission negotiation question to find a confident agent who can handle uncomfortable questions and demonstrates the value of her commission.

Do you have a commission question?  Are you considering curious about the costs of selling a home?  Write me below:

How Can I help?

Ask your real estate questions and I'll get back to you as fast as I can. *YOUR INFORMATION IS CONFIDENTIAL AND WILL NOT BE SHARED WITH OR SOLD TO ANYONE, EVER!*
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Brookline Multi-Family House

Brookline Condominium Market: Will Buyers Remain Powerless?

The Brookline MA condominium market has been tight and getting tighter for a couple of years now.  Buyers compete for properties in any price range, and inventory remains low.  The number of buyers increase as the inventory has steadily decreased.

The graph below shows peak inventory in 2013 is lower than off-season inventory in the previous two years.

Large Chart

As interest rates remain low, more buyers enter the market and look for homes.  Second time buyers can finally sell or rent their first home easily.  First time home buyers are finding rents skyrocketing and lending more plentiful.

But why aren’t homeowners jumping at the market opportunity to sell their homes?  In a rising market, homeowners believe they will fetch more money for their home if they wait.  If recent history is an indicator of things to come, this is true.  Prices have been rising quickly.

Average price of sold condos:

October 2012: $580,753

March 2013: $630,326

October 2013: $671,088

 

But, alas, recent history is not an indicator of things to come.  It’s the longer history to consider with a fairly repetitive and predictable nature of the real estate market.  The tight conditions can’t last forever.

Potential home sellers will hold on to their Brookline condominium until they perceive the market has topped off.  By the time they put their home up for sale, buyers will regain power, the Brookline real estate market will be more even-handed. Days on market will start to climb and bidding wars will be over.  I predict this will be by the middle or end of 2014.

Those considering selling your home who do not have to buy another property in Brookline, this is a perfect opportunity.  You can take advantage of the last two seasons of a unique sellers’ market.

Three Most Important Contingencies When Buying a Condo

Are you working with a Realtor on your home purchase in Boston? I certainly hope so!  If you are going at it alone, you may overlook the most important contingencies when buying a condo.  In Massachusetts there are two contingencies written into the offer to purchase paperwork.  But what’s not in the standard offer is the most important when buying a condo.  Row of brick houses in Boston

Here are the three contingencies you must have in your offer to buy a condo:

1. Inspection Contingency.  Conduct an inspection with a licensed inspector who comes highly recommended.  You will have 7-10 days (including weekends) to conduct this inspection. Ensure you receive the report in a timely manner, and if you need more time, file for an contingency extension.

2. Financing / Mortgage Contingency.  Unless you are paying cash, you will probably have a mortgage contingency in your offer.  The standard paperwork has it built into the offer.  Usually, roughly a month to six weeks after the offer is accepted.  If you are closing quickly, you’ll have to get it done sooner.  Don’t forget to submit your completed mortgage application in accordance with the deadline in the offer.  If you read carefully through the paperwork, you’ll find the buyer’s obligation to file an application by a specified day.  If not done on time you jeopardize the validity of the mortgage contingency.

3. Condominium Documents Review.  Although not included in the standard paperwork, the condo document review is in my opinion the most important contingency when buying a condo.  It allows you time to read through the condominium documents and financial statements, and pass them on to your attorney to look for anything out of the ordinary.

Why is this so important?  You will learn about the financial health of the building, rules and regulations, and a lot more detail about how the condo association functions.      If the building is in a dismal financial situation and poorly run, expect the value of the condo to deteriorate or the association to have large expenses in the near term.  Furthermore, the mortgage company may reject your application if the building has low owner occupancy or lack of funds.

When including the condominium documents review contingency, don’t forget to specify the documents will be provided within two business days.  The listing broker should have them ready before the condo goes on market, so this should not be a problem.

Writing an offer to purchase a condo requires thought and preparation. Learn the contingencies and don’t depend on standard paperwork alone to protect your interests.