101 Seaport Boulevard Breaks Ground

Mayor Thomas M. Menino, Skanska’s development team and executives from
PricewaterhouseCoopers tossed soil for a ceremonial groundbreaking on Thursday at 101 Seaport Boulevard, site of the first office tower in Boston’s Seaport Square.

 Photo by Thomas Grillo. Groundbreaking with Mayor Thomas M. Menino and Skanska at 101 Seaport Boulevard.

Photo by Thomas Grillo.
Groundbreaking with Mayor Thomas M. Menino and Skanska at 101 Seaport Boulevard.

The groundbreaking ceremony last Thursday at 101 Seaport Boulevard in the “Innovative district “  Demonstrates the tremendous momentum that this Boston neighborhood has behind it.

The mayor welcomed PwC to Seaport. They are moving its workforce to this new $126 million, 17-story building from the Financial District when 101 Seaport Boulevard opens in 2015. “The 200 businesses that have moved down here will need some good accountants,” he said. “I look forward to working with you in the future in the private sector to keep Boston moving forward.”

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Boston Harbor’s Seaport Neighborhood

pier-4-2Seaport dubbed today the “Innovative district” was once a muddy spot in Boston Harbor and then a thriving shipping area and then morphed into a decrepit no-man’s land of parking lots and abandoned warehouses in the mid-1900s.

With the vision of the city Father’s in the late 1990’s it has developed into a hotbed of development both commercial and residential with many being mixed use projects.

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Boston Back Bay Condos

Boston is one of the most beautiful cities in America. And certainly one of the most interesting. It actually is very European in design and gives out a historic ambiance. The Back Bay, Beacon Hill are two of the most expensive of neighborhoods to live, but certainly worth every dollar. You can find New Boston condos, lofts, beautiful brown stones. To lived in these areas gives you the opportunity to shop in some of the most prestigious of all retail areas such as the Prudential Center along with other great shopping and historic attractions that are to many to mention.

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NOW IS THE TIME TO BUY THAT NEW HOME

The 30 year fixed mortgage rate rose to its highest level in two years. The Feds multi stimulus programs which have kept lending rates low to help stimulate businesses and homeowners alike to borrow money for purchases and for improvements have slowly come to an end. The policy has kept Boston mortgage rates at record lows for most of the past 5 or so years.
mort1Mortgage rates have gone up more than 36% since May when the 30 year rate was at 3.35%.

“If you were considering buying a home, rates aren’t going to get much better any time soon” said Erin Lantz, director of mortgages at Seattle based Zillow.com. “Buying sooner rather than later makes good sense.”

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Many Boston Home Buyers Scramble for Mortgage Loans

imageHome buyers know too well the down side of the rising mortgage interest rates. They have been in love with the rock bottom rates which have significantly increased their purchasing power. The rising interest rates have sent some buyers into a panic rushing around trying to find a piece of property to sign their names on before the Fed bankrolled gravy train ends. Boston home buyers are not the only ones scrambling to protect their backsides as the rates start to climb, the bankers are too. Unfortunately, the buyers may soon find that mortgages, which are already hard to come by, may also get tougher as rates head back up. Higher rates may eventually boost mortgage lending, as rates begin what is likely to be a long, slow rise, the banks may start tightening up on their lending.

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When in Boston Take the Beantown Trolley

More and more of Boston’s visitors are discovering what fun it is to see ‘old beantown’ the one convenient way that is available to everyone at a very inexpensive rate. The Boston Trolley Tour consists of many stops at some of Boston’s most famous places. You can disembark and re-board the Trolley at your own pace at the different stops. trolleyBeantown Trolley is a convenient means of transport to many of the best attractions and sights in Boston. Forget about renting a car, take the Trolley. You will visit the famous neighborhoods of Boston, the Museum of Fine Arts and the Seaport District, Bunker Hill Monument, the Old North Church, Paul Revere House, Theatre District and Chinatown and more. Sit back and relax and enjoy the narrated tour of all the famous spots you have heard about, including Fenway Park, Harvard and M.I.T.

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Cash Buyers Putting ‘Squeeze’ On Boston Real Estate Buyers

Cash Buyers Putting ‘Squeeze’ On Boston Real Estate Buyers

MOneyApparently all cash buyers are putting the squeeze on normal real estate buyers. 40% of all the condos sold in Massachusetts in April did not involve any financing or mortgage. A quarter of all home sales also did not involve a mortgage or financing. There are many factors involved such as those people who in the past would normally be out of their parents homes are still not moved out yet due to the bad job market and can’t afford to pay a mortgage and the first time buyers are finding that they cant afford prices that are rising in today’s real estate market. Rents are rising right along with home prices. In Brighton, there was an 11.6% jump in rents in June compared to one year ago. Maybe those who are still living at home with mom and dad should look at the brighter side; at least they don’t have a mortgage loan that is higher than what the property is worth. It is apparent that many of the all cash buyers are foreign investors, and many of the new all cash buyers are the mover-uppers who are discovering that in today’s market, they can get their wanted price when selling, allowing them to put a substantial amount down when they turn around and purchase their new “move up” home.

You can read the entire article in the Boston Real Estate Now Blog,  visit www.boston.com/realestate.

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Boston Condos

Boston Condos For Sale and Lease

Call Boston Luxe, a premier Real Estate firm in Boston
218 Newbury Street • third floor • Boston MA 02116 • (617) 267-4600• Their realtors will assist you in every phase of the buying or purchasing process.

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