Archive for May, 2008
May 31, 2008
It’s like the world operates in these weird, 20 year cycles. The cicadas are re-emerging. The turmoil of the S&L scandal is essentially being repeated in the subprime crisis. And the Lakers are coming back to the Garden (well, not quite the same Garden, but you get the idea) for the NBA Finals. It’s a rivalry so huge it has its own Wikipedia page.
When I was a kid, I remember going down to the local Citgo station to pick up posters of the whole starting lineup. In my elementary school gym, there was a life-size poster of Kevin McHale that said “Measure up to Kevin McHale”. It was sponsored by the milk lobby, and I remember being disturbed by the length of his arms.
I also remember that the last time these two teams met in the Finals, the Celtics lost.
So yeah, I am pretty excited about this (though I find Kevin Garnett’s arms no less disturbing than McHale’s used to be).
Here are some “updated” listings (that’s MLS slang for “reduced”) to celebrate the “updated” rivalry:
259 Beacon St #41 - $526,000
2 beds, 1 bath, 854 sq. ft.
This is like a good off-season pad. Excellent access to the Esplanade for distance runs and conditioning, close to a variety of shops, but not too close to the bars and clubs that might, uh, adversely affect next season’s performance.
183 Comm Ave #2 - $435,000
1 bed, 1 bath, 677 sq. ft.
See, this place is like that young player, still coming up. It’s developing as a listing, and brings plenty of natural skills into play, but it still thinks more highly of itself than it ought to. At least one more “update” away from being a Rajon Rondo.
13 Bowdoin St #3C - $439,000
1 bed, 1 bath, 677 sq. ft.
The TD Banknorth Garden/Fleet Center/Derek Jeter Center is a lot like the condos that seem to have sprung up everywhere in Boston. They flatten some old buildings, give a little local trim and a Boston-ish name to the place, and call it good. But this condo seems to have tried a little harder. Gives me hope that the soulless shed currently occupying 150 Causeway Street can reclaim some of its forbearer’s magic.
May 31, 2008
Pics of James Hook and Company after fire destroyed the place early yesterday. [Universal Hub]- Speaking of fire: the house where 50Cent’s baby-mama and shorty live burned to the ground. Curiously, Fifty and Baby-mama fought bitterly about the place earlier this week. [The Real Estate Bloggers]
- Did Newbury Street lose it’s cool? Louis Boston seems to think so. [Beantown Blogger]
- Converted churches and schools are so last week. How about converting a former jail? [Zillow Blog]
- I didn’t even know we had a professional women’s soccer team, but apparently they need to move to a bigger stadium. [Brighton Centered]
- Are Bruce Willis and Ving Rhames really coming to Lynn to film The Surrogates? [City of Lynn]
- Looks like snow at Washington and LaGrange in Chinatown. [The Chinatown Blogger]
May 31, 2008
Meg Muckenhoupt wrote a great article for the June 2008 issue of Boston magazine in which she discussed the craziness of one-dollar-per-hour on-street parking. Sean Roche posted a shockingly similar article in the Boston Globe back in August 2007 (thanks to John K at Boston Real Estate Blog).
These articles point out the absurdity of city parking meters charging a token fee for renting the most valuable real estate in the city, while garages charge twenty times as much.
It seems increasing meter rates benefits everybody:
- Fewer drivers looking for the perfect spot means less traffic, fuel consumption, and exhaust
- Higher turnover means fewer long-term “squatters” hogging up all the good spots
- Parking garages will be forced to lower rates to remain competitive
- More customers and increased revenue for local businesses
- Increased revenue for the city
I’m all for charging market rate for parking, whatever it may be. I paid for my parking in the city; everyone else should do the same.
And while we’re making some changes, let’s get rid of the stupid resident-only neighborhood parking permits. Residents with cars need to get their own parking spots and let those visitors who choose on-street parking pay the market-rate all day every day. I see no good reason for the city to subsidize their parking. I might even take things a step further; shorten on-street spaces from eighteen feet to fifteen feet to encourage the use of smaller cars and increase city revenue.
OT: At the bottom of the Boston Magazine article (page 22) Lisa Przystup posted a terribly misleading graph showing the fluctuating median single-family home sale prices. The graph she chose shows the market bottomed out; however, this graph bottoms out at $300K, not zero. In sixth grade, we all learned graphs need to be zeroed to maintain accurate perspective. I’m disappointed a reputable magazine, one of my favorites, allowed this to be published.
Dine and Dash: Looking for Brunch Near Bay Village
Sweet Digs Boston Home
May 31, 2008
I know it might not seem like it to the casual eye, but houses are, in fact, selling, and people are, in fact, buying them. It could have something to do with the fact that your other choices are a) a cardboard box, or b) an apartment that is every bit as expensive as it was before the bubble popped. You’d think rents would have to come down, right, but how many people have received letters from their landlords offering a rent decrease?
As I write this post, I’m in Nashville, TN. Unemployment is high, social services are poor, and you could buy 10,000 square feet for what I paid for 1,000. I’m going to pass through Pittsburgh, and then east-central PA, on my way back to the land of jobs and cute little seaside houses, and the whole time, I’m going to be patting myself on the back for leaving a region that is as economically dead as the lair of Shelob, last bitter child of Ungoliant (I’m re-reading The Lord of the Rings….and I’m a huge geek). We may complain — about taxes, about government waste, about huge slabs of concrete falling on innocent people (yeah….I pretty much avoid using those tunnels, too, as even a mighty elven warrior might shun Shelob’s labyrinth. Call me irrational….), but we have it good. We live in a place people want to visit, where people dream of living, where unemployment rates are among the lowest in the US, and where many can earn 2-3 times what they can earn in other places. I saw a 278% increase in pay, for essentially the same job I was doing in Pittsburgh. Go Socks.
Anyhow, here’s some food for thought. Keep in mind that the recent sales you’re seeing are sales that most likely happened 2 or 3 months before they closed — these are winter bargains, and slough or no slough, prices will climb going into the summer.
| Sold For: |
$257,000
(04/18/2008) |
| Beds: |
3 |
| Baths: |
2 |
| Sqft: |
1,441 |
| Style: |
Residential |
| Sold For: |
$330,000
(03/14/2008) |
| Beds: |
4 |
| Baths: |
1.5 |
| Sqft: |
2,233 |
| Style: |
Residential |
| Sold For: |
$685,000
(03/21/2008) |
| Beds: |
4 |
| Baths: |
2.5 |
| Sqft: |
2,915 |
| Style: |
Residential |
| Sold For: |
$295,000
(04/18/2008) |
| Beds: |
2 |
| Baths: |
2.5 |
| Sqft: |
1,320 |
| Style: |
Condominium |
May 30, 2008
Open House Date and Time:
Sunday, June 1st, 1-3PM
78 Mount Vernon St #3
Somerville, MA 02145
Seller’s Comments
Coffee shop of choice: Bloc 11 Cafe is a new, hip coffee shop/pastry shop/restaurant that just opened a few blocks away in Union Square. They have some of the best sandwiches we have had in a long time! Its a great place to get together with friends as well as a great place to get some alone time!
Favorite places to go: Our favorite place to go is downtown to Boston Commons, especially in the warm weather. The park is full of people, blooming trees and flowers. You can even ride the Swan boats in the lake. There is plenty of room for picnics, frisbee, dog-walking or just relaxing on a bench watching all the people go by. And there always seems to be a wedding or two taking pictures!
And there is always sleigh riding in the winter when the snow blankets the park!
Favorite restaurants in the area: Antonia’s in Davis Square and Koreana in Inman Square are two of our favorite restaurants. Antonia’s is a small Italian restaurant that seats about 30 people. The restaurant boasts an open kitchen, and the windows open out to the square in the warm weather. Antonia’s is a quaint restaurant, great for people watching and great italian food! Koreana is a Korean BBQ restaurant that has everything from sushi to tempura to traditional Korean dishes. You can even BBQ right at the table. This is a great place for two or a large party, and you won’t find any better and polite service in the city!
Best features of the home: One of the best features of our home is the fact that we live on a quiet, tree-lined street, but at the same time have amazing views of downtown Boston. You can see the entire skyline of the city!
Favorite room: Our favorite room of the house is the living room. We can cozy up on the couch and look at the view, whether it’s the city from the numerous windows along the side or the sunset from the front bay windows. We also like to entertain a group of friends as the open floor plan allows for overflow into the dining room.
Any remodeling since last purchase?: The condo was renovated in 2005 prior to our move-in and has bamboo flooring, stainless steel appliances, granite countertops, cherry cabinets, a slate master bathroom with a jacuzzi tub, a second full bath with marble, and front and back porches.
Most romantic spot: The most romantic spot in our home is the front porch. We have a couple of chairs out there and love to watch the sunset!
What’s in the neighborhood: The neighborhood is nestled between historic Charlestown and Cambridge. It is in walking distance to Union Square as well as to the T(Boston’s subway system). There is a bed and breakfast in the area and a Holiday Inn in walking distance as well. There is easy access to the expressway, without all the noise!
There are many parks in the area, as well as the local, infamous Mount Vernon Restaurant.
What I will miss the most: We are going to miss city living the most! We have been in Boston for almost 6 years now and loved being so close to everything!
May 30, 2008
All this speculation about recessions and inflated oil prices has gotten me to thinking, and put me in a sort of conspiratorial mood.
After all, volatility breeds suspicion and secretiveness, and as far as housing goes, no one knows whether we’re resting at the bottom or teetering on the edge.
So as a non-homeowner, I say enough of this uncertainty crap. It’s time to collude and overtake the market, and I propose we do it the same way Rosa Parks was avenged: with a demand-side cartel.
We’ll officially limit the number of homes non-homeowners buy each year, so that current ratio of owners to renters is maintained.
While it is a heinous artificial restraint on the economy, it’s far better than, say, loaning $300,000 to someone with no ostensible income, and it should keep housing prices closer in line with their actual value. Good-bye artificial demand, good-bye bubble, good-bye oversupply and crash; hello stability.
I understand that if you currently own a home, you may not be in love with this idea. But keep in mind that it will still leave you with a good chunk of equity; an investment that will be less prone to market volatility, and growing at the same rate as the rest of the economy. That’s a much better return than you’d get on a Benz, a MacBook Pro, or even an Aeron chair.
In fact, in the end, I think the hardest part about this plan might be finally convincing people that the intrinsic value of a property really is based on things like how long it takes you to get to the dentist, or how likely you are to get murdered on your doorstep.
So in closing, here are some houses you should resist buying until after you’ve cleared it with the cartel:
396 Beacon St. #7 - $412,000
1 Bed, 1 Bath, 568 sq. ft.
Read the description on this bad boy? Yeah, it’s “redesigned by architects”. A lot of places don’t say that, I’m assuming because they were redesigned by librarians or street performers or something. The cartel will reduce the frequency with which people change homes, so you want to buy for quality and the long term.
425 Marlborough #1 - $575,000
2 Beds, 1.5 Baths, 893 sq. ft.
Check out the past sales on this one: see that drop between January and August of ‘96? Assuming the place didn’t catch on fire or get infested by hobos (which it almost certainly did, given the precipitousness of the decline), it’s prove that houses don’t magically accrue value, like lint on a sticky hand.
97 Pinckney St - $5,250,000
5 beds, 7 baths, 5,500 sq. ft.
Aside from the fact that this place is larger than the state of Rhode Island, it also offers tremendous locational advantages. While most write their Congressmen with concerns, this place lets you really get his attention by egging his house. Conversely, you could sneak into big donors’ mailboxes and intercept $2,000 campaign checks before the mailman comes.
Image: Ernesto “Che” Guevara. From original work “Guerrillero Heroico”, by Alberto Diaz Gutierrez, 1960. Public domain because Cuba has reasonable copyright laws, via Wikimedia Commons.
May 30, 2008
Open House Date and Time:
Sunday, June 1st, 1-3PM
85 F ST #2
South Boston, MA 02127
Seller’s Comments
Coffee shop of choice: There is actually a neighborhood coffee shop across the street - the coffee there is seriously addicting. This great neighborhood find serves multiple flavors of both hot and iced coffee - perfect for those hot summer days.
Favorite places to go: Give a choice, we would probably take a stroll along the water - its only a few blocks away. We also love to head over to Castle Island and watch the kiteboarders.
Favorite restaurants in the area: All of Boston is so close, it’s hard to pick a favorite. It’s just a short walk up to Salsa’s Mexican restaurant, with it’s great food and ambiance. The South End is just a few minutes away and we tend to head over there on weekends. In that area we love PICO for pizza, the Bee Hive, and Stella’s. Amrhreins is a great local restaurant with awesome food - get the steaktips!
Best features of the home: Probably the wide open layout. The living room, kitchen and guest bedroom is on the 2nd floor and the office and master suite is on the 3rd floor. Its great to have the living room to hang out downstairs but its great to be able to get away upstairs to our own space.
Favorite room: My wife loves the huge walk in closet and, while its not technically a room, I love grilling on the deck. Beyond that I’d say the master suite is very spacious and comfortable.
Any remodeling since last purchase?: Yes, we just remodeled the entire exterior - we put up new siding and improved the curb appeal. The entire place was redone in 2001 and the closet and built in cabinents in the office have been added since. We’ve also painted the walls as well. Move in ready!
Most romantic spot: Definitely in front of the gas fireplace during the winter. It’s so cozy and throws off a ton of heat. There’s no place I’d rather be when its snowing outside.
What’s in the neighborhood: You can walk to everything - very close to the new seaport disctict where you can enjoy the new restaurants, Museum of Contemporary Art or downtown. Great restaurants and bars all around.
What I will miss the most: Probably the people - our neighbors are spectacular. They are so friendly and welcoming. Some are new to the area and some have been here a long time and know the ropes. Knowing that all of Boston is so close will be missed as well.
May 30, 2008
Embarking on your home search this weekend? Come check out these Boston area Open Houses:
1.) 85 F St #2, South Boston New Listing! Sunday, June 1st, 1-3pm
2.) 78 Mount Vernon St #3, Somerville New Listing! Sunday, June 1st, 1-3pm
3.) 2 Ledgewood Dr, Bedford Sunday, June 1st, 12-2pm
4.) 520 Mass Ave #520, Acton Sunday, June 1st, 12:30-2pm
May 30, 2008
Lucky Brookline. While prices of single-family homes have dropped 12 percent in Massachusetts, Brookline’s home prices have only managed to rise. Twenty percent no less! (That’s according to the professionals, as a layman observer I have my doubts about that.)
How can that be, you may ask? Well, according to the Wall Street Journal, homes in or near downtown areas have held their value as housing prices in distant suburbs tank. The WSJ even mentions Brookline by name. Nobody feels like shelling out gas money for a long commute. Others offer the good schools argument. Housing prices just don’t fall in neighborhoods where schools are strong. And of course, because Brookline is an affluent place, it has not been hit by a surge in foreclosures the way other towns have. In short, when you venture out to these Brookline open houses this weekend, you can worry about whether a property has parking, new windows or an energy-efficient boiler, but you don’t have to worry about whether you’ll lose your shirt buying in a down market.
150 Salisbury Road, #2, $299K
BEDS:1/BATHS:1
SQ.FT: 593
O.H. Sunday, June 1, 2008 12:00 PM - 2:00 PM
3 Englewood Avenue, #1, $299,900
BEDS:1/BATHS:1
SQ.FT: 572
O.H. Sunday, June 1, 2008 11:30 PM - 1:00 PM
45 Mason Terrace, #2, $412K
BEDS:2/BATHS:1
SQ.FT: 800
O.H. Sunday, June 1, 2008 11:00 PM - 1:00 PM
41 Park Street, #205, $478,999
BEDS:2/BATHS:2
SQ.FT: 1,162
O.H. Sunday, June 1, 2008 12:15 PM - 2:00 PM
May 30, 2008
Mr Alyk and I planned to enjoy our first visit to Delux Café on the South End’s Chandler Street. I walk by the place several times each week, and it looks interesting, the menu look great, and most of the reviews are good. The problem is they don’t serve lunch.
Because Delux ruled itself out for Sunday, we don’t have a plan for Dine and Dash. If anyone knows where to get a cheap bite to eat near Bay Village and the Theatre District, let me know. We’re not looking for big tourist-y places; just a casual lunch or brunch place. Even a bakery would be good.
Where can we eat before we hit these Bay Village open houses?
22 Shawmut Street
Bay Village, 02116
Beds: 2/Baths: 1.5
SQ.FT.: 1360
$718,138
Open house: Sunday, June 1, 1:00 PM until 2:00 PM
What’s with that price?
22 Church Street, #3
Bay Village, 02116
Beds: 2/Baths: 1
SQ.FT.: 751
$519,000
Open house: Sunday, June 1, 1:00 PM until 2:30 PM
56 Piedmont
Bay Village, 02116
Beds: 3/Baths: 2.5
SQ.FT.:
$1,287,000
Open house: Sunday, June 1, 2:30 PM until 3:30 PM
This price includes three parking spaces.
Hitting the Links, May 24
Sweet Digs Boston Home
