The Sun Property Group Real Estate Blog

17Feb/100

Corporation of Boston?

Recently, the City of Boston announced that they have received a grant from the federal government to buy distressed properties. The city has been granted $13.6 million to buy and renovate these properties. See link>>
http://www.boston.com/business/articles/2010/01/16/hub_gets_136m_grant_to_buy_foreclosed_homes/
I find this development very interesting. Up until now, the bulk of the foreclosures and short sale properties for sale in Suffolk County were purchased by investors with cash. Some of these investors were buying and renting the properties out. Others were fixing up the properties and reselling for a modest profit. So what’s the big deal? Well now, the city is just like one big corporation with $14 mil in their back pocket. They’ll be competing for the same distressed properties as these other investors are. And these investors are like small and mid-sized businesses, just trying to make a living. How can they compete with a large corporation? Hopefully, the Corporation of Boston can play fair with the private investors in this city.

15Feb/100

REIT’s Bringing In Solid Returns

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Over the past year or so, real estate has not been considered the ideal place for investors to safely invest their cash. With all the foreclosures and the breakdown of the residential and commercial lending markets, returns on real estate investments have been up and down. However, in a down market there’s always ways to make money and it looks like REIT’s have started to turn things around. For those of you who don’t know, a REIT is a real estate investment trust. REIT’s group together income producing properties and investors can buy shares in the REIT. It’s kind of like a mutual fund comprised entirely of real estate. Over the past 6 months, some of the top publicly traded REIT’s have done very well. For example, Macerich Company (MAC) is up about 40% and local REIT Boston Properties, Inc. (BXP) is up about 25%. These are just two examples, but across the REIT landscape, similar gains can be seen. While these REIT’s were getting battered in 2007 and 2008, they have regrouped to acquire highly discounted income producing properties that have become abundant due to the recession. See WSJ article here>> http://online.wsj.com/article/SB20001424052748704234304574626612092410016.html
In a time where real estate can be a difficult area to invest in, REIT’s seemingly have shown to be one vehicle investors can use successfully to see positive returns. Have you invested any of your portfolio in a REIT?

4Feb/100

Renovation Costs

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Here's a helpful guide to the cost of renovating your home in the New England area:

http://www.remodeling.hw.net/2008/costvsvalue/division/new-england.aspx

27Sep/090

Market Conditions Ideal for Investing in Boston Luxury Condos

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Price and Opportunity Combine Making Boston High-End Properties Sound Selections
BOSTON, Sept. 8 /PRNewswire/ -- Over the course of the past couple of years the real estate market across the United States, including in the city of Boston, has been both challenging and complicated. In recent weeks, a variety of economic indicators established that the worst of the economic issues that plagued the country during this time period largely are behind us. "The net effect of all of this is to make the Boston real estate market ideally situated for individuals who are interested in investing in luxury condos," Kevin MacKinnon of First Boston Realty International said. "Arguably, there has never been a better time for individuals interested in purchasing the very best in Boston luxury condos to invest in what really can be called the homes of their dreams." MacKinnon went on to note that there are a number of additional factors that render this an ideal time to invest in high-end properties, including Boston luxury condos. First, the prices associated with these Boston properties have never been more favorable to buyers. "On a number of different levels, Boston is something of a sellers market in regard to real estate of all types, including Boston luxury condos," MacKinnon explained. Second, although there has been a slight up-tick in home mortgage interest rates since the first of the year, the increase is minimal. "For qualified borrowers, interest rates on Boston home mortgage loans are favorable," MacKinnon explained. "A person with a solid credit history will be able to find a Boston lender that will offer financing with good interest rates." The inventory of available Boston condos is also solid. "The fact is that at this juncture in time there is a great variety of different Boston luxury condos to select from," MacKinnon said. "At First Boston, we have listings in the most highly regarded neighborhoods in the Boston area. Although it is something of a trite saying, at this point in time - when it comes to Boston luxury condos - there really is something for everyone interested in finding and buying this type of residence." "Our professional staff at First Boston Realty stands ready and willing to assist individuals interested in buying or selling luxury condos with all of their needs. Additionally, our firm is able to provide professional assistance to individuals seeking any type of residential real estate in and around the Boston area," MacKinnon said.

SOURCE First Boston Realty

The Sun Property Group Real Estate Blog Selling, Leasing, Renovating, Managing, Going Green and more!

Corporation of Boston?

REIT’s Bringing In Solid Returns

Renovation Costs

Market Conditions Ideal for Investing in Boston Luxury Condos

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