Sotheby’s International Realty News: Brand Enters Nicaragua

nicaraugaSotheby’s International Realty Affiliates LLC announced the brand’s expansion into Nicaragua with the opening of Nicaragua Sotheby’s International Realty. Owned by Emerald Coast Realty and led by managing partner Trevor Barran, the firm will serve the luxury real estate marketing throughout Nicaragua.

“With its uniquely beautiful landscape, Nicaragua is emerging as a robust destination for luxury real estate,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “The Nicaragua Sotheby’s International Realty team has successfully developed and sold luxury properties in New York, Miami and around Latin America and are passionate and knowledgeable about the Nicaraguan real estate market.  We are proud to welcome them to our global network.”

“We are excited to represent the Sotheby’s International Realty® brand in Nicaragua and are committed to providing an unrivaled level of service to our clients,” said Barran.  “This affiliation strategically positions us for continued growth in this emerging market.  We believe in the long-term potential of Nicaragua and are invested in its success.”

Our network continues to grow at lengths as we have a presence in over 63 countries and territories worldwide encompassing 18,800 dedicated real estate sales associates. Here at Gibson Sotheby’s International Realty we would like to congratulate Nicaragua Sotheby’s International Realty, their team and the Sotheby’s brand for this significant achievement.

Take a look at our previous blogs below in order from most recent to older news to read about other grand openings to see just how far the Sotheby’s brand has come.

Source: Sotheby’s International Realty 

Real Estate News: Closed Home Sales Hit Highs for the Month of March

High housing demand, low mortgage rates and overall modest price appreciation during March led to increased  sales of single-family detached homes and condominiums in the Greater Boston area, according to data issued by the Greater Boston Association of REALTORS® (GBAR).

Last month, sales of detached single-family homes improved on an annual basis for the tenth consecutive month increasing 12.5 percent from the 687 homes sold in March 2015 to 773 this year. This is the highest single-family home sales total since March 2012 when 777 homes were sold.

Greater Boston Single-Family Market Overview

March  2015 March 2016 +/-
Closed Sales 687 773 +12.5%
Median Sales Price $469,000 $472,000 +0.6%
Days on Market Until Sale 92 80 -13.0%
New Listings 1,506 2,196 +45.8%

Condominium sales also rose 30 percent last month from 577 units sold in 2015 to 750. Last month’s 750 condos sold represent the highest total since the 950 sales in 2007, which is the record high for total closed condo sales during March in Greater Boston.

Greater Boston Condominium Market Overview

March  2015 March 2016 +/-
Closed Sales 577 750 +30.0%
Median Sales Price $455,000 $480,000 +5.5%
Days on Market Until Sale 66 60 -9.1%
New Listings 1,264 1,530 +21.0%

“These sales numbers represent today’s strong buyer demand and indicate we are well into a busy spring market in Greater Boston, as closed sales in both markets rose above the historical averages for March” said GBAR President Andrew Sarno. Sarno noted that the increase in closed sales, specifically condo sales, this March compared to last year can be attributed in part to the severe winter weather experienced throughout the region in 2015. “The warmer weather of this past winter allowed sellers to prepare and list their homes earlier in the year which has resulted in higher inventory and more housing opportunities for buyers.” said Sarno.

While sales in both markets increased significantly, median sales prices experienced modest increases last month. Similar to the past couple months, pending sales increased in both markets in March, representing the continued rise of homes on the market and presumably leading to more closed sales in the coming months. The single-family detached home market pending sales numbers increased 35.9 percent from 1,118 in March of last year to 1,519 in 2016. In the condo market, pending sales jumped 18 percent to 1,174 up from 995 from March 2015.

“The continued high numbers of pending sales reflect the highly-motivated buyer population in our region as well as their desire to take advantage of the low mortgage rates that are prevalent here,” said Sarno.

For the first time in several months, inventory of homes for sale increased significantly in Greater Boston in March. Single-family home inventory rose 14.8 percent from 2,280 to 2,618 listed homes in 2016, while condo inventory rose 5.6 percent from 1,399 in 2015 to 1,478 this year. These numbers signify that the spring market is surely upon us!

Source: Greater Boston Association of Realtors. Find more information here.

About the Greater Boston Association of Realtors: The Greater Boston Association of REALTORS® (GBAR) represents over 6,500 real estate professionals throughout the Greater Boston and Eastern Massachusetts area and is one of the local boards of the National Association of REALTORS® – the largest trade association in America. GBAR® provides professional development courses, standard forms, legal reports and updates, brokerage counseling, legislative and regulatory representation, ethics, mediation and arbitration services, as well as recognition awards.

Where will you be watching the 120th Boston Marathon?

Where will you be watching the thousands of marathon runners participating in the 120th Boston Marathon? The forecast for today calls for short-sleeves, sunscreen and snacks!  

Below is a guide of the ten best restaurants for spectators to watch the marathon. 

  1. Start your day at The Pour House on 907 Boylston St. If you’re looking to stake out a spot near the finish line, this home-style bar and grill will provide you all of the classically prepared eggs, pancakes and French toast you’ll need to triumph the six-minute walk to the race’s end

  2. At the base of Heartbreak Hill, an infamous down-hill stretch for marathoners, sits Roggie’s sports bar on 365 Chestnut Hill Ave. A quaint but lively space, it provides onlookers a break from outdoor action for burgers, sandwiches and beer on tap.

  3. For a swankier Monday indulgence, check out the patio party at Fairsted Kitchen. With lamb-sausage pitas and frozen Privateer Rum drinks, this American-Middle-eastern restaurant offers the ultimate fanciful finger foods to indulge in while looking down on the brave souls who, at this point on 1704 Beacon St., have endured 23 miles. An ice-cold, blended “cheers” to that!

  4. Dillon’s is located at on 955 Boylston St.— right on the finish line. Its beautiful, floor-to-ceiling windows and fenced-in patio offer beer-drinkers and run-spectators alike an opportunity to sip on craft beer and watch the racers finish. With an all-American feel and crab cakes to die for, dining here is undoubtedly more satisfying than finishing the race.

  5. Rated as one of the top sports bars in Boston by The Guide to the Good Life,  Jery Remy’s in Fenway is the perfect place to kick up your spectating-shoes and watch all the action on an oversized, flat screen TV. With classic pub grub like Beef & Cheddar Sliders and Traditional Wings, this American bar is the ideal retreat for weary watchers in Kenmore Square.

  6. For those in BC Eagle territory, White Mountain Creamery on 19 Commonwealth Avenueis the place to go for a sweet mid-race treat. With homemade ice cream, thickly stirred whipped cream and the wafting scent of heaven in a waffle press, you can’t go wrong with a good old fashioned cone of ice cream. Spectators have to carb load too, right?

  7. Back Bay spectators look no further: Deuxave, an upscale, Bostonian chic restaurant and bar located at 371 Commonwealth Ave, is offering a la carte dishes such as Friend Clams, Shrimp Cocktails and Duck Liver Paté from 11:00-4:00 – reservations encouraged.

  8. No matter what time zone you’re from, Eastern Standard Kitchen & Drinks in Kenmore Square is sure to reorient you to the Bostonian lifestyle. With creative cocktails, thundering crowd-noise and a coveted patio space cozied right up to the race’s path, the Red-Sox-hotspot turned Mara-Monday watering hole is sure to be packed. For your best chance at a seat, be sure to arrive before the restaurant’s opening at 7 a.m.

  9. Not all Marathon Monday breakfasts are created equal: Poe’s Kitchen at the Rattlesnake will open its doors at 10:00 for breakfast burritos and pasta plates such as the lemon and kale pesto pappardelle. Beautifully decorated and located on 384 Boylston St., it houses an outdoor patio and an expansive bar.

  10. Finally, after a long day of on-looking, we recommend Stephanie’s on Newbury for the ultimate wind down experience. With sophisticated comfort food and simply decorated dining space both indoors and out, this is the place you want to end up. Head on over from Copley square or Commonwealth Ave to feast on afternoon fare such as New England Clam Chowder or Lobster Guacamole. You deserve it.

3 Trending Areas to Buy Homes in Boston

By Becca Grady

The decision to buy a home is not one made lightly, and with rents skyrocketing while mortgages are at an all-time low, homeownership may be something you’re considering. Prior to settling on a new property, it’s important to evaluate the area and make sure it not only fits your needs and desires, but is also an up-and-coming neighborhood that will pay off in the long run. Doing your research and finding a trending area is the smartest way to ensure a good investment is made.

For those looking to move to Boston, check out these trending neighborhoods for future investment opportunities.

East Boston

East Boston Real EstateLocated just across the harbor from downtown, East Boston has a small town vibe in a big city. With sweeping views of the city skyline, easy access to the airport and a unique appeal to buyers, it’s no wonder the neighborhood is an up-and-coming area for residents.

The median home value currently stands at $349,000, compared to $476,200 of Boston proper. With home values increasing 67 percent over the last 5 years, the area has been on the rise. The median home value increased 13 percent this last year and is forecasted to increase another 4.4 percent over the next year.

South End

South End Real EstateFilled with cultural diversity and a polished exterior, South End is a neighborhood treasured by locals and visitors alike. Just minutes south of downtown, the area embodies the charm of New England through its brick buildings, iron gates and tree-lined streets.

Increasing 11.8 percent throughout the last year, South End touts a median home value of $729,000. This highly residential neighborhood has been gaining popularity, and home values have increased nearly 50 percent in the last 5 years, and are projected to increase 3.1 percent in the next year.

North Dorchester

North Dorchester Real EstateHome to University of Massachusetts and the award-winning JFK Presidential Library, North Dorchester is rich in history and diversity. It’s also Boston’s largest and oldest neighborhood and has a broad mix of residents.

With a median home value of $392,300, North Dorchester has a variety of amenities close by, including easy access to grocery stores, shopping, restaurants and coffee shops. Home values in the neighborhood saw a 43 percent increase over the past 5 years, and a 12 percent increase over the last year alone. As a trending area, North Dorchester home values are projected to increase another 3.3 percent in the next year.

With almost 75 percent of home values increasing over the last year, Boston’s real estate market has been flourishing. As Boston continues to gain in popularity, neighborhoods outside of the bustle of downtown are seeing a growth in demand and increasing home values. Consider these trending neighborhoods while looking for a Boston home.

 

GSIR’s Director of International Initiatives attends AREAA’s 2016 Global and Luxury Summit

12973464_10156827538310038_1778135463122463176_oBeth Heard-Laffey, Gibson Sotheby’s International Realty’s Director of International Initiatives, attended AREAA’s 2016 Global and Luxury Summit in Honolulu, Hawaii last week.

The Asian Real Estate Association of America (AREAA) is a nonprofit professional trade organization dedicated to promoting sustainable homeownership opportunities in Asian American communities by creating a powerful national voice for housing and real estate professionals that serve this dynamic market. AREAA is the only trade association dedicated to representing the interests of the Asian real estate market nationwide.

While at the conference, Heard-Laffey attended the International Day Sessions, General Sessions, Global Congress in addition to, the following breakout panels, “Marketing your Luxury Listings”, “Canada : Coast to Coast” (Richard Silver, Sotheby’s International Realty, panelist), and “Making your Market Matter” (Dean Jones, Realogics Sotheby’s International Realty Owner, panelist).

The Boston, Cambridge and Greater Boston areas were proud to have 13 AREAA Members attend from various firms. Among Sotheby’s International Realty , representatives were from Canada, California, Seattle, Arizona, Hawaii, and Massachusetts.

Real Estate News: Why Property Investment is Thriving in Boston

The March 2016 Investment Intensity Index reports “real estate investment activity at near-record levels.” Surpassing other potential capital-return opportunities and dodging economic turmoil, global real estate investment continues to skyrocket at a profitable rate. In 2015, the total direct real estate investment columns reached $705 billion – only 7 percent below the record high of $758 billion in 2007.

Far above cities such as Shanghai and San Francisco, Boston sits high atop the investment charts as one of the most profitable New World Cities. A New World City is essentially one that makes up for its comparatively small stature by punching above its weight. Opposed to Established World Cities such as London or New York, and Emerging World Cities like Beirut, this happy-medium metropolitan class is the ideal combination of prosperity and efficiency. Investors are looking to place their stakes in these smaller, more innovative cities with transparent, open markets.

Boston stands out in this category for its unparalleled innovation, vibrant technology sector and top-class private and public education systems. For these reasons, China has become one of the leading foreign investors in its real estate market. As one of the most educated classes of buyers, Chinese investors are not only looking to diversify their investments, but also to feel a sense of tangibility in their returns. This makes Boston a perfect market – one that is so consistently is on par with the affluence of the country as whole.

The Boston commercial investment market is thriving.

Real Estate News: GSIR Surges to the Top of the Cambridge Market

IMG_1637
Gibson Sotheby’s International Realty’s Cambridge office has started off the spring market with a bang, ranking number one in MLSpin for March 2016. “This comes as no surprise to us. We compiled a hand-picked team of top producers who regularly dominate the market,” said Larry Rideout, CEO and Co-Owner of Gibson Sotheby’s International Realty. “As we build momentum, you will see some game changing properties coming from our Cambridge office and our entire company.”

The company saw some very public early successes in the last two months. One closed listing
on Dana Street saw seven offers and a final price well over the asking price of $1.048 million. Another property reached a large audience on Curbed.com for achieving a selling price that may be familiar to some. The winning bid of 271 Washington Street Unit 1, $1,103,141.59, ended in the first six digits of pi which struck many Cambridge mathematicians.

Over the last few weeks Gibson Sotheby’s International Realty has listed a number of homes at several different price points throughout Cambridge and the surrounding areas. Included is 44 Walker Street, a renovated home and carriage house listed for $3.898 million. 1C Blanchard Road was listed last week for $1.245 million and is situated on the Tip O’Neill Golf Course, overlooking the Fresh Pond Reservation. Also listed last week for $4.25 million was 32 Bowdoin Street, a single family home, fully redesigned by FoleyFiore Architecture. After 5 days of being on the market, this home has already seen multiple offers.

In addition, the team is covering homes priced at the middle of the market with 21 Fainwood Circle #1 currently listed for $618,000 and 150 Hampshire Street #4 listed for $675,000.  Currently under agreement, Hampshire Street saw nearly 50 parties come through the first open house and an accepted offer that same night.

With a number of extraordinary homes coming soon to the market including 29 Follen Street and 8 Craigie Street, Gibson Sotheby’s International Realty’s Cambridge office is expecting to close nearly $100 million in additional sales in the first half of the year. “We thought the Sotheby’s brand was a perfect fit for Cambridge,” said Paul McGann, President and Co-Owner of Gibson Sotheby’s International Realty. “We have a fresh approach and a tremendous global network. It is truly a higher level of service.”

About Gibson Sotheby’s International Realty:
Gibson Sotheby’s International Realty is Boston’s largest independent real estate company. Founded in 1962 by Betty Gibson in Boston’s South End, the firm has eight offices throughout Boston, Cambridge and the surrounding areas. The Sotheby’s brand takes great pride in presenting to the world unique homes and their stories. Through this extraordinary network which extends to more than 60 countries and territories worldwide, Gibson Sotheby’s International Realty has access to some of the most qualified buyers in the world and provides remarkable exposure for each home.

Real Estate News: Greater Boston Market Continues to Make Gains in February

The Massachusetts Association of Realtors® (MAR) reported that February proved to be another record month for closed home sales throughout the state, as buyer activity pushed closed sales to its highest levels for the month since 2004.

More specifically in the Greater Boston area, high buyer demand, low mortgage rates and a strong job market continued to spur housing market activity in according to data from the Greater Boston Association of REALTORS® (GBAR). “The combination of low mortgage rates, rising home values and a lack of snow this winter have led to above normal demand over the first few months of the year,” said GBAR President Andrew Sarno “As busy as we’ve been, sales could have been even stronger had we had more homes to sell.”

Sales of detached single-family homes in February improved on an annual basis for the ninth consecutive month representing the highest total of closed sales in Greater Boston since the 665 homes sold in 2007.

The single-family median sales price rose from $470,000 in February 2015 to $520,000 last month, indicating a 10.6 percent increase and setting a new record high price for the month in Greater Boston.

Greater Boston Single-Family Market Overview

February  2015 February 2016 +/-
Closed Sales 535 590 +10.3%
Median Sales Price $470,000 $520,000 +10.6%
Days on Market Until Sale 94 91 -3.2%
New Listings 644 1,129 +75.3%

“With home prices continuing to climb steadily and the inventory of homes for sale at a twelve-year low, it’s a great time to put your home on the market,” said Sarno. However, sellers can expect the competition to heat up this spring, he noted, as the second quarter is traditionally the most active for selling homes.

Condo sales experienced a modest increase of 2.9 percent in 2016, increasing from 451 to 464 sold condos. This is also the highest condo sales total since 2007, when there were 642 closed sales.

Greater Boston Condominium Market Overview

February  2015 February 2016 +/-
Closed Sales 451 464 +2.9%
Median Sales Price $420,000 $447,000 +6.4%
Days on Market Until Sale 74 64 -13.5%
New Listings 629 941 +49.6%

“There was a significant increase in pending sales in both markets, which can be attributed in part to our mostly snow-free winter, but nonetheless suggests a large, highly-motivated home buyer population and a very active spring market throughout the region,” added Sarno. “Those looking to sell their homes should take advantage of this opportunity as we approach the spring and early summer market when activity is at its peak and buyers will likely have more options.” February’s data represents numbers that are near to or above average typical totals for February in recent years.

Source: Greater Boston Association of Realtors. Find more information here.

About the Greater Boston Association of Realtors: The Greater Boston Association of REALTORS® (GBAR) represents over 6,500 real estate professionals throughout the Greater Boston and Eastern Massachusetts area and is one of the local boards of the National Association of REALTORS® – the largest trade association in America. GBAR® provides professional development courses, standard forms, legal reports and updates, brokerage counseling, legislative and regulatory representation, ethics, mediation and arbitration services, as well as recognition awards.

Real Estate News: If Approved, JP and Southie Will See a Combined 53 New Housing Units

Screen Shot 2016-03-28 at 1.03.16 PMA combined 53 new housing units are proposed for Jamaica Plain and South Boston according to the Boston Herald.

If approved by the BRA, 3353 Washington Street in Jamaica Plain will see a 44 unit apartment while 377 West First Street in South Boston will see a nine unit condo building.

The Jamaica Plain project would see one to three bedroom units, some with outdoor decks and private terraces. It also calls for a common roof deck, 2,000 square feet of ground-floor retail space, bike storage and 24 parking spaces.

The South Boston project would see six two and three bedroom condos with a small ground-floor office space and a garage for up to 15 cars.

For more information visit bostonherald.com

Real Estate News: GE Announces that Former Candy Manufacturing Buildings will be site of New Headquarters

Screen Shot 2016-03-28 at 12.45.28 PMAccording to the Boston Business Journal, General Electric has announced that Necco Court in Boston’s Fort Point neighborhood will be the home to their new headquarters.

GE plans on both renovating an existing space and building a new headquarters with the purchase of 2.5 acres of Proctor & Gamble’s 44-acre South Boston campus.

Currently under agreement is 5 Necco Court and 6 Necco Street – two six-story brick and beam former candy manufacturing buildings which span 110,000 square feet. The company is likely to spend up to $100 million in renovating these two buildings along with constructed a third, according to GE’s CEO, Jeff Immelt.

For more information visit bizjournals.com.

Real Estate News: South End’s Tallest New Development

The South End’s tallest new project which includes over 700 residential units is planned to sit on a 3.1 acre site surrounding 575 Albany Street. Currently at the site are five buildings three of which will be demolished by the lead developer.

Screen Shot 2016-03-24 at 2.17.20 PM

According to Curbed Boston, the two-building development will include 710 apartments, 14,000 square feet of retail space, 40,000 square feet of offices and an underground garage.

Source: Curbed Boston

 

Sotheby’s Auction House: The Shirley Temple Blue Diamond

Legendary child star, Shirley Temple’s blue diamond ring will be on auction April 19 at the Sotheby’s New York Auction House.

Shirley Temple’s father purchased the 9.54-carat fancy deep blue diamond ring in early 1940 around the time of her 12th birthday.

For more information click here. 

Sotheby’s International Realty News: Brand expands presence in Argentina and Netherlands

The presence of our brand continues to grow at lengths across the entire world. Just last week the Sotheby’s International Realty network expanded across Argentina and into the Netherlands.

Ginervra Sotheby’s International Realty in Argentina, owned and operated by Mercedes Ginevra will now provide luxury residential real estate services throughout the country focusing on Puerto Madero, San Isidro, Mendoza, Salta and La Patagonia.

“Argentina is steeped in rich history with a varied terrain from the inland mountains to resort towns and imposing cliffs along the coast, catering to many different lifestyles,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC.  “Argentina has an important position in the South American luxury market and this expansion provides a wider footprint in one of the most diverse countries in the world.”

In the Netherlands, Sotheby’s International Realty Affiliates LLC has signed a 25-year franchise agreement with Redres NL BV to expand the brand throughout with the opening of Redres Sotheby’s International Realty.

“The Netherlands has a growing luxury real estate market and it was the right time for our brand to have a presence within the country,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC.  “Amsterdam is a key city in the Netherlands that offers a strong and diverse international audience.”

The Sotheby’s International Realty network currently has more than 18,800 affiliated independent sales associates located in approximately 835 offices in 63 countries and territories worldwide. Here at Gibson Sotheby’s International Realty we congratulate Leonard Kaiser, Brad Barker, KaLinn Dishion, their teams and the Sotheby’s brand for these two significant achievements.

Take a look at our previous blogs below in order from most recent to older news to read about other grand openings to see just how far the Sotheby’s brand has come.

Source: Sotheby’s International Realty 

Sotheby’s International Realty News: Brand Further Strengthens Presence across United States

Sotheby’s International Realty® Affiliates LLC has announced two of our networks newest members, Kaiser Sotheby’s International Realty in Alabama and Group One Sotheby’s International Realty in Idaho.

Kaiser SIR, owned and operated by Leonard Kaiser will service Baldwin County and the greater Coastal Alabama area with two offices in Orange Beach and Gulf Shores, Alabama. This is the first Sotheby’s International Realty® affiliate company in the state of Alabama.

Meanwhile in Idaho, Group One SIR, owned and operated by Brad Barker and KaLinn Dishion, will serve the markets of Boise, Eagle, Meridian, Nampa and Star. After 33 years as an independent real estate firm, Barker has chosen to affiliate with our extraordinary network elevating heir services with a powerful boost.

The Sotheby’s International Realty network currently has more than 18,800 affiliated independent sales associates located in approximately 835 offices in 63 countries and territories worldwide. Here at Gibson Sotheby’s International Realty we congratulate Leonard Kaiser, Brad Barker, KaLinn Dishion, their teams and the Sotheby’s brand for these two significant achievements.

Take a look at our previous blogs below in order from most recent to older news to read about other grand openings to see just how far the Sotheby’s brand has come.

Source: Sotheby’s International Realty