It’s What You’re Near

One of the greatest things about living up here is the Marblehead Farmer’s Market.

Marblehead is an upscale New England town East of Salem; you can ride there easily from Beverly, partly on the road and partly on bike trails. It’s known for its beautiful rocky coastline, its overlooks, and its narrow streets crammed with historical houses. It looks like the cover of an issue of Yankee magazine, or the latest issue of Land’s End.

We don’t generally go to Marblehead for meals; we have a lot of favorite places near us, either in Beverly or just across the bridge. And, we get down to the hub at least once a week; our friends’ worries that we were heading out to the fronteir, never to be heard from again, were paranoid exaggerations.

But the Marblehead Farmer’s Market combines ethical eating and support for regional businesses with products good enough to attract a dedicated gourmet.

Where else are you going to get Farmstead Bleu goat cheese (the cheese is blue; the goat is a regular goat) from Crystal Brook ? Or, try the West River Creamery’s Cambridge, made with raw milk, or the Firehouse Jack — the jack is creamy and flavorful enough to stand up to the hot peppers, not the wax you get at Big Brother Grocery. Look for her cooler — if it’s on the table, it may contain lamb, red wine, and feta sausages that will blow your mind — hands down the best artisan sausage this German-American boy has ever tasted. The maple sausage is really good, too.

Other notable are the bakers and the Zaika Indian food table — buttery, buttery goodness. Get fresh pea tendrils, baby bok choy, daikon, and purslanes at one table, Fairytale eggplant at another.

It’s at the Marblehead Veteran’s School from 9-noon until October 25th, and this is harvest season. If you’re looking for an excuse to come up and check us out, you can get everything you need for a serious beechside picnic at the Farmer’s Market.

Ideal Commuter Digs In Salem: Walking Distance to the T for $66,000+

Boston Sweet Digs Home

Open Houses: Live from the Train!

Hello, Boston! I’m coming to you live today from the Amtrak Northeast Regional, 11:05am out of South Station. Gotta love this iPhone tethering thing. Internet from a Beacon Hill roofdeck is one thing; service cruising across the northeast on a train is quite another.

Anyway, I’m gonna be out of town this weekend for a wedding, but that doesn’t mean you can’t scope some of the lovely open houses in Back Bay this Sunday. As you may or may not know, the summer buying season is officially over, meaning prices are down, and your opportunity to snag deals is up!

And, just as an aside, there are few places so close in Boston as pretty as the Comm Ave mall when the leaves start to turn. It’s nothing to match, say, the blood-red maples of Bromley Mountain or the sheer beauty of the Berkshires, but it’s as close as you can get within reasonable distance of downtown.

296 Commonwealth #5
Back Bay, MA 02115
2 beds, 2 baths
1,468 sq. ft.
$1,099,000
Open House, Sunday, September 14, 2008 12:00 PM – 1:30 PM

103 Beacon #1
Back Bay, MA 02116
Price:
1 bed, 1 bath
845 sq. ft.
$560,000
Open House, Sunday, September 14, 2008 1:00 PM – 2:30 PM

370 Marlborough #1
Back Bay, MA 02115
1 bed, 1 bath
802 sq. ft.
$439,000
Sunday, September 14, 2008 1:00 PM – 2:30 PM

Welcome to Townieville, Population: You

Boston Sweet Digs Home

On the Market Atop Corey Hill

There’s nothing quite like being atop Brookline’s Corey Hill. If you haul yourself up the incredibly steep Summit Avenue, once you’ve caught your breath, you’ll be rewarded by an absolutely amazing view of the city. On a clear winter’s day when there are no leaves on the trees, you can see stunning views of Downtown Boston, the Charles River, the B.U. Bridge and Cambridge from Corey Hill Outlook Park. You are also suddenly aware of something totally unexpected if you’ve been wandering along one of the numerous footpaths set into the woods lower down on the hill — that is pastoral Corey Hill is set down right smack in the middle of the city.

Here are three cool things about the Corey Hill neighborhood, bounded by Washington Street to the West and Winchester Street to the East:

•  Proximity to Coolidge Corner. Just a quick trip down Summit and you’ve hit all the stores and businesses of “downtown” Brookline.
• Living on the hill is like living in 19th century Boston. You can walk to “town” or the T by using wooded footpaths that run perpendicular to the terraced streets.
• There is an immense variety of housing stock. Just about anything you could be looking for is here, from Queen Anne Victorians, to Brick Tudors, to condos in brick rowhouses, to turn-of-the-century farmhouses, to 1970′s suburban ranch homes.

Right now on Corey Hill, there are several properties on the market, with quite a few available on Mason Terrace — one of the several terraced roads that ring the hill.

207 Mason Terrace, #1
Brookline
BEDS:3/BATHS:1
SQ.FT:1320
$559K

87 Mason Terrace, #5
Brookline
BEDS:2/BATHS:1
SQ.FT: 1150
$449K

97 Mason Terrace, #B
BEDS:1/BATHS:1
SQ.FT: 530
$249K

Boston Sweet Digs Home
Brookline, Brighton Archives

Maynard Houses, Middleboro Condos Sell Above List Price

Looking at sold homes in the Boston area over the last two months, Maynard houses and Middleboro Condos were selling at above list price. While there are no huge discounts to be had, but homes in Natick were selling at 96% of list price, and Cambridge condos were selling at 97.9% of list, so buyers are getting a little discount. Except in Maynard and Middleboro, apparently. Full data is below.

Sisson’s diner in Middleboro: is this where all the fancy new condo buyers are eating?

Last night we were dishing pricing data again at Redfin’s office in Somerville, which I hear is not that bad. (Somerville, not the office). Get the slides.

Next time, it’ll be downtown Boston. We’ll do it on October 15th and you’ll be able to RSVP here. And by the way, congratulations to Redfin agent Sean Valiton, who just had a baby on Sept. 4th.

Boston Houses Sold July 7 to September 7, 2008

Boston Condos Sold July 7 to September 7, 2008

Photo credit: Elizabeth Thomsen on Flickr.

Ideal Commuter Digs in Salem: Walking Distance to The T for $66,000+

Yes — there’s a fixer-upper condo a few blocks from the Commuter Rail, which is faster and runs more regularly than any C-rail in the greater Boston area, for $66,000.  This is a very varied part of town — luxury new construction on one block, nice old row homes on another, and some places that look like…well, you didn’t know they could stack it that high….

Going Northeast along the rail tracks, the closer you are to the station the less likely you are to have to deal with a big concrete privacy wall between you and the Bridge Street Bypass, though this only really affects houses at the ends of the blocks. To offset any potential loss of property value caused by the long (long, long) awaited bypass, the city installed a really nice bike/walk path alongside the road, terminating at the terminal, making any street along this corridor a pleasant walk to the train.  And the bypass seems to be working — traffic concentrates near the rail station and the business end of Washington Street, and away from the houses.

Of course, once that the bypass is finished, they’re going to tear up Bridge Street.  It’s going to be a bit of a hassle on these streets, but when they’re done, Bridge Street will look a lot like the historic areas around the wharf.  The revaluation of this once-rehab region began long ago, but it may be the most dependable investment area in all of Salem now that the construction is finished and people can see what they’re getting.

North Salem is very accessible from here, too, and you can easily walk to the Olde Spot for chocolate stout and the best chocolate cake in the universe.

Check these out, and play with the map zoom.

156-B Bridge Street
Salem, MA 01970
Beds: 3/Baths:2
SQ.FT.: 1492
$279,900

18 Williams Street Address, #1
Salem, MA 01970 
Beds: 2/Baths:2
SQ.FT.:1,000
$ 249,000

15 Lynde Street Address, #31
Salem, MA 01970
Beds: 1/Baths: 1
SQ.FT.:518
$ 66,405

The Deed To The Brooklyn Bridge

Boston Sweet Digs Home

Stale Listings Need Love, Too

I noticed a few stale listings in the South End that need a little attention. Some have been waiting for some love for years, but I assume they were listed in MLS before contractors began renovations. In some cases, I bet they were listed even before the first shovel hit the ground:

• 700 Harrison; 1085 days
• Bryant on Columbus; 646 days
• D4; 589 days
• The Penmark; 562 days

I can see why they’ve been sitting around for a while- purchasing on spec involves some risk. That’s a risk I’ll probably never take. I want to see the completed home, ready to go— floors, walls, ceilings… I’m a bit odd that way.

A pair of listings, however, surprise me. Although agents listed 19 Worcester Square at almost $1.3 million, it’s a good size place. Almost 2100 feet for $618 per foot isn’t a bad deal, but the place has been languishing for over 500 days.

The home that disappoints me the most is the Diver House, the star of A Common Ground, one of the greatest books of Boston history. The bowfront at 118 West Newton has been wasting away for 1183 days.

Three years.

But it looks like the price hasn’t changed in three years, either. It makes me wonder if they really want to sell it or if they’re waiting for a sucker like me who wants it because it was in the book. Are these owners are really considering offers, or are they holding out for someone who doesn’t know any better?

Hitting the Links
Boston Sweet Digs Home

The Deed To The Brooklyn Bridge

There’s nothing like ignoring your own advice.

About a month ago I found a little cabin in the Adirondacks listed FSBO on Craigslist, and I met the owner and had a home inspector come out to look at it.  It was a nice piece of land, and the best looking hole in the ground you’ve ever seen — great septic system, basement, foundation, plumbing, electrical, you name it.  It needed a roof and siding, some replacement windows, and some chimney pointing.  I decided I’d do a gambrel roof and add 500 square feet and a bedroom with a half bath in the process.

You might remember when both Pam Reynolds and I cautioned our readers about FSBO properties, and about the other world owners who eschew the services of licensed professionals often inhabit.  But this was too great to turn down.  According to Zillow and my contractor, this place was going to make me enough money in 10 years to pay off my student loans — and that was a conservative estimate.  And who wants to add commissions to the cost of a rock-bottom property?  That’s window money, siding money, bathroom-renovation money.

When you make an offer with real estate agents, you sign a standard contract and put down some hand money.  Not brain surgery, right?  This guy was even comfortable with owner financing the place, as it wasn’t in any shape to be mortgaged by a bank — not yet anyway.

The first contract I got from the owner’s country lawyer a) made no provision for the hand money he nevertheless expected me to send (essentially I was supposed to send $500 to a guy I met on the internet, with no contract to fall back on if he was a cheat or a flake), and b) contained a clause saying that the entire amount of the mortgage would become due upon the seller’s death.

The seller was 83 years old.

So, basically, I could have put a lot of time and money into the property, and if I didn’t get the note paid off before he hopped his last train, his son would be able to foreclose on the dumb city boy from Massachusetts.  But I trusted this guy, so I blamed his  incompetent lawyer (the guy didn’t listen very well,  and didn’t use email), and hired my own to sort it out.

Apparently that was unfriendly of me.

We went back and forth for a while — my lawyer proposed addenda to the contract, like a clause that said that if the place burned down, the seller couldn’t pocket the insurance and hold me to the contract.  His lawyer told my lawyer his addenda were unnecessary and refused to add them, and then told me that it is customary for the buyer to pay to have the note prepared.  That’s another $500, on top of the sizable down I had raked together, and it sounded like I was getting taken for a ride.  That’s like applying for a credit card and drawing up the agreement yourself.  It’s nuts, and calling it “standard practice” was a lie.

So, on Sunday, I got an email (from the 83-year-old, not the incompetent  lawyer) saying I was wasting his time and money on legal bills.  I faxed him the erroneous contracts, and he sent me another email titled “No Deal” — he didn’t want to sell it after all.

Then he re-listed it on Craigslist, leaving me to wonder if I’m the first of many to blow a few hundred bucks on this mirage, or one in an already long line of suckers.

The $400 I paid to my lawyer was hardly a waste — it kept me from making a deal I probably would have had reason to regret at some point, one way or another.  But it’s a disappointment.  And it’s the last FSBO I touch, ever.

Proof That People Need Places To Live: 138 Sales In Salem In 90 Days

Boston Sweet Digs Home

Welcome to Townieville, Population: You

Time was, living in Somerville required an excuse. Something along the lines of “we wanted to buy, but couldn’t get the space we wanted anywhere else” or “I just love Inman, so why pay more for the Cambridge side?”

Not so, these days, where from Davis to Union Square, the only thing changing at the town line is the color of the street signs.

Of course, there’s still those other parts of Somerville; you know far from the T and the yuppies and the Starbucks. I hear you might run into someone who works in an auto shop, or maybe even who doesn’t speak English! And even the mayoral candidates are involved in the drug trade. Better add hours a week and hundreds of dollars a year onto your commute to be further from the places you visit every day.

Returning to reality, these “bad” things are only as scary as you make them. Fact of the matter is, in “Townie” Somerville, gorgeously refurbished Victorians (see right, from Adams Street) are selling well and for entirely reasonable prices. Surrounded by funky little business like Daniel Maher Stained Glass and True Grounds coffee house, these places are steals, and just a ten minute cab ride from downtown Boston.

And if you really can’t bear to be without the T, keep in mind, the Green Line will be arriving in just a few more years. If you think these prices will be this low after rapid transit service arrives, I’ve got some property out in Stockton, CA, that might be more interested in.

10 Roberts St #20
Somerville, MA 02145
1 bed, 1 bath
387 sq. ft.
$174,900

55 Vernon St #3
Somerville, MA 02145
2 beds, 2.5 baths
2,400 Sq. Ft.
$499,900

8 Montrose Ct
Somerville, MA 02145
3 beds, 1 bath
1,044 sq. ft.
$365,000

Prices Hold Steady while People Still Buy

Boston Sweet Digs Home

Condos in Brighton: Selling at a Discount

Though prices may be holding up just fine and dandy in Brookline, things look a little choppy in Brighton. I spotted several properties that sold for a loss in July and August, or that were just plain cheap for the square footage and location. In general, prices in Brighton seem to be down about 5 percent from their peak — not an earth-shaking drop by any means, but certainly not showing the resistance of Teflon Brookline, either.

15 Braemore Road, Apt. 5
Brighton
BEDS:1/BATHS:1
SQ. FT: 688
Sold for $218K August 2008
Purchased for $266K in 2004

7 Cummings Road, #4
Brighton
BEDS:2/BATHS:1.5
SQ.FT:986
Sold for $352,400 August 2008
Purchased for $425K in 2004

1992 Commonwealth Avenue, #6
Brighton
BEDS:2/BATHS:1
SQ.FT:933
Sold for $297,500 August 2008
Right now on the market in the same Reservoir Gardens complex is a slightly larger condo that started off above $400K and is now listed at $379,900.

Sweet Digs Boston Home
Brighton, Brookline Archives

Prices Hold Steady while People Still Buy

So I think I touched a nerve last time I mentioned that things in Massachusetts weren’t going as poorly as some people might want them to be. I tried to explain that I shared many of their options: I’ve continued to rent, and I think irresponsible lenders and homebuyers—not taxpayers—should be held accountable for the subprime mess. But that fact remains that in this part of the country, despite national market chaos, people are still buying houses.

I know the prices might seem ridiculous, but people are still paying them. Even before the collapse of Bear Sterns, people were prophesying some deflation, but it really hasn’t come together. Demand still appears to be supporting prices, and while fly-by-night lending looks to hurt math-skilled renters (like myself!) with a taxpayer bailout, houses are still being sold. And it’s not just a local phenomenon.

If prices were more than people were willing to pay—and believe me, no one’s getting anything without massive vetting and at least a 10% downpayment anymore—they’d be dropping. And they’re not, at least not in the places I watch. Consider these price reductions form Beacon Hill; other than the palatial but pretty obviously overvalued townhouse, there are only nominal cuts.

100 Pinckney St
Beacon Hill, MA 02114
5 beds, 3.5 baths.
4,516 sq. ft.
New Price: $3,795,000
Old Price: $3,995,000

68 Phillips St #9
Beacon Hill, MA 02114
1 bed, 1 bath
535 sq. ft.
New Price: $469,000
Old Price: $475,000

21 Beacon St #10B
Beacon Hill, MA 02108
1 bed, 1 bath
438 sq. ft.
New Price: $289,000
Old Price: $295,000