Sotheby's International Realty: SIR.com Exceeds 1 Million Visits in July

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Our corporate website reached over 1 Million views for 1 single month for the first time in our history

The Sotheby’s International Realty brand is truly extraordinary. Founded on the same commitment to exceptional services that characterized the Sotheby’s Auction House more than two centuries ago, our SIR brand is now known around the world for representing the most distinctive properties. We do so in now more than 720 offices worldwide within 52 countries and territories, all with a dedication to a consistent white glove service that our brand’s 15,000 plus sales professionals uphold on a daily basis.

Recently, our corporate website, sothebysrealty.com, also known more simply as sir.com, surpassed 1 million visits in a single month for the first time in its history! July of 2014 saw 1,042,043 visits to sir.com, which is a 15% increase from July of 2013. This major milestone is something we can all take pride in and is another significant achievement for our incredible brand- which is indicative of our quality and consistent growth over the years. Traffic to sir.com has been steadily trending upwards for the last six years, with the largest jump in traffic growth occurring over the last two years. The major contributors to this great achievement have been our overall growth as a brand, our strategic marketing partnerships with the most significant media companies in the world, and our continuous search engine optimization and advertising efforts that place sir.com in the top positions within search engine results.

Indeed, the best is yet to be for us here at Gibson Sotheby’s International Realty and our entire Sotheby’s International Realty network.

Massachusetts Fallen Heroes: $8 Million Seaport Square Park to Honor Fallen War on Terror Soldiers

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An artist rendering of the $8 million park for Seaport Square to honor fallen Bay State soldiers in the war on terror

A gorgeous, $8 Million park is to be built at Seaport Square to honor the fallen men and women soldiers from Massachusetts who lost their lives fighting the war on terror. September has officially been tabbed as the groundbreaking month.

The Massachusetts Fallen Heroes, an advocacy group that is comprised of firefighters, war veterans, and police officers, will be hosting the groundbreaking ceremony on September 10th of this year.

The completed park will feature a reflecting pool and a massive 50-foot memorial at Seaport Square Park between Northern Avenue and Seaport Boulevard in Boston’s rapidly developing Seaport District. The five-sided translucent structure is described by the Boston Business Journal, saying that, “…the sun is captured and reflected across the green space and will transition to an internally lit beacon at night. The memorial will also feature an indoor interactive space housing artifacts and memorabilia that veterans of post 9/11 conflicts brought home from battle.”

In total, there have been upwards of 180 individuals hailing from Massachusetts who have lost their lives fighting for our freedom in the war on terror.

Chris Lessard, a firefighter out of Newton who is the Massachusetts Fallen Heroes’ Program Director, noted that, “All the naysayers said it would take us 20 years to get this done, but since we started in 2010, we’ve received lots of support from many people for us to do this. Now, we’re ready to break ground on the day prior to the 13th anniversary of September 11, 2001 and we’re hoping that this will be a model that will be emulated nationwide.”

John Hynes, the CEO and Managing Partner of Boston Global Investors, has played a significant role in helping to get this vision off of the ground. Not only from donating $6 Million towards the cause, but Hynes is also donating the land, of which he owns 23-acres in this area of the Seaport. The State of Massachusetts have allocated $250,000 towards this endeavor, while the Massachusetts Fallen Heroes have reached out to other private sources for an additional $2 Million worth of funding.

Upon completion, this public memorial will represent the first permanent memorial throughout the entire country for individuals who have fallen as a result of the war on terror. We are proud to say that this will occur right here in our beloved city of Boston.

More Information: Boston Business Journal

Sotheby's International Realty News: Brand Moves into Northern India

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North India Sotheby’s International Realty is the newest affiliate to our network

Sotheby’s International Realty has started the Third Quarter off triumphantly as we have now entered into a strong market in Northern India. Signing an agreement with RealPro Infra Private Lt., our brand in North India will now operate as North India Sotheby’s International Realty.

Amit Goyal is the Chief Executive Officer and Co-Owner of this new affiliate, which will serve the luxury residential real estate market in the region. Goyal shared that, “We are delighted to become part of the Sotheby’s International Realty worldwide network. The luxury residential real estate market in India is beginning a period of expansive growth and the Sotheby’s International Realty brand will meet the needs of high net-worth individuals internationally looking for luxury homes in India and overseas using the brand’s global platform. We also envision future appointments of exclusive representation of luxury residential properties.  India’s luxury residential market is poised to grow rapidly, supported by strong economic growth, and we are in an ideal position to lead this growth by leveraging the Sotheby’s International Realty global platform.”

Philip White, the President and Chief Executive Officer of Sotheby’s International Realty Affiliates LLC then noted that, “Northern India is one of the most exciting, beautiful and fastest growing markets in the world, with a developing luxury real estate market. Expansion into India was one of our core objectives for this year, and I am proud to welcome Amit and his team to our global network.”

The Sotheby’s International Realty network now is proudly represented in more than 720 offices within 52 countries and territories that encompass 15,000 independent sales professionals. We at Gibson Sotheby’s International Realty would like to congratulate Mr. Goyal and the entire North India Sotheby’s International Realty team for this wonderful accomplishment. We look forward to working with them in the near future.

For other Sotheby’s International Realty office openings that have occurred recently, please see the various links below:

More Information: Sotheby’s International Realty

Massachusetts Real Estate: Home Prices Continued to Climb in June, Condominium Median Price at All-Time High

Massachusetts Association of Realtors, Massachusetts Real Estate, Boston Real Estate, Massachusetts Home Sales, Massachusetts Home Prices, Boston Condominiums, Boston Condo Prices, Boston Condo SalesThe Massachusetts Association of REALTORS® (MAR) reported today that June home prices continued their year-long climb as condominiums hit an all-time high. Sales were down from the same time last year, but new listings to the market is a positive sign.

June Closed Sales:

Single-Family June 2014 June 2013 %Change
Sales 5,528 5,613 -1.5%
Median Price $365,000 $351,000 +4.0%

 

  • 5th straight month of single-family (SF) year-over-year sales decreases
  • 21st straight month of SF median price increases
  • Highest SF median price since July 2007 ($365,000)
Condominium June 2014 June 2013 %Change
Sales 2,207 2,231 -1.1%
Median Price $330,000 $320,000 +3.1%

 

  • 3rd straight month of condominium (CC) year-over-year sales decreases
  • 13th straight month of median price increases
  • Highest CC median price since data has been tracked
  • Previous high was $320,500 in August 2013

“Low inventory once again affected the market in June resulting in a lower number of sale and higher prices,” said 2014 MAR President Peter Ruffini. “However, we’re hopeful that the influx of new properties added to the market in June will help prices to start leveling off, giving more people the opportunity to buy.”

Inventory and Days on Market:

Single-Family June 2014 June 2013 %Change
Inventory 22,688 24,378 -6.9%
Months of Supply 5.5 6.0 -8.3%
Days on Market 89 86 +3.5%
New Listings 8,418 7,438 +13.2%

 

  • 28th straight month of year-over-year inventory decreases
  • Biggest year-over-year increase of new listings since May 2013 (16.9%)
Condominium June 2014 June 2013 %Change
Inventory 5,538 6,922 -20.0%
Months of Supply 3.3 4.2 -21.4%
Days on Market 69 71 -2.8%
New Listings 2,687 2,582 +4.1%

 

  • 43rd straight month of year-over-year inventory decreases
  • New listings up for the first time in the past six months

About the Massachusetts Association of REALTORS®:

Organized in 1924, the Massachusetts Association of REALTORS® is a professional trade organization with more than 20,000+ members.  The term REALTOR® is registered as the exclusive designation of members of the National Association of REALTORS® who subscribe to a strict code of ethics and enjoy continuing education programs.

Featured Property Listing: Former Retreat of William Dean Howells – 25 Baker Road, Nahant

Nahant Real Estate, William Dean Howells, 25 Baker Road

25 Baker Road in Nahant – $899,000

A spectacular listing has come available in the lovely town of Nahant. As represented by our own Tim Deihl and Amy Butterworth, also known as The Residential Collaborative, this premier Queen Anne Victorian residence with dramatic ocean views and exquisite woodwork has quite the story. History and charm abound; this 8 bedroom, 4.5 bathroom 5000+ square foot home features 3 levels of living, 5 fireplaces, country kitchen with adjacent sun room, wrap around porch, beautiful landscaped yard, and garage parking.

This property was the first home built on Little Nahant in 1850.  It was the summer retreat of famed author, editor, and critic, Mr. William Dean Howells (1837-1920). Howells found the cottage, “…vast and extravagantly furnished for a summer cottage”, and that the cottage had “..extremely remarkable prettiness.” Howells also shared that, “If you did not purposely look out to the water, you could easily imagine yourself in the depth of the country.”

The current owner has lovingly restored many features to capture the elegance of the era and combine that Victorian character with the conveniences of modern amenities. Become part of the history of this home, and discover the beauty of Nahant. This property is priced at $899,000. Click here for more information.

More Information: 25 Baker Road

South Boston Real Estate: 30-Unit, $11 Million Project Proposed

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A proposed 5-story condo building for L Street in South Boston

South Boston, often referred to as Southie, is one of the most rapidly developing neighborhoods of the city of Boston. It is no secret that there is a widespread lack of inventory in the real estate market, especially in highly in-demand areas such as Southie. Now, while the Hub is often being defined as a city of cranes due to all of the new buildings, yet another project is likely to break ground. Peter Leoutsakos, a South Boston developer has just proposed plans for a 30-unit building on L Street.

This project, if approved, would replace an existing auto repair shop and would cost roughly $11 Million to construct. Specifically located at 45 L Street, the five-story building would feature two-bedroom units in addition to around 1,000 square feet of ground-floor commercial space.

There will also be a lowel level top-of-the-line fitness center exclusively for the residents. Furthermore, there will be private storage spaces and a meeting room that are available for use by the neighborhood.

The aforementioned existing property today consists of two, two-story buildings on the 14,000 square foot lot between East Second and East Third Streets. Owned by the Higgins family, the new development would see Higgins Insurance occupy the new commercial space, while European Motorsport would relocate.

This news comes at a great time given the market successes we have been realizing in South Boston. In fact, the median price for condominiums during the recently completed Second Quarter of 2014 was up to $484,000. This is a nearly 14% increase from where prices stood just one year ago. The time is indeed right to build. Since just 2012, the Boston Redevelopment Authority have already approved 14 different residential developments in Southie. This number is only likely to continue to rise.

More Information: Boston Business Journal

Sotheby's News: World's Most Expensive Watch to be Auctioned off

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The Henry Graves Supercomplication is estimated to fetch $16.8 Million – A new World Record

On November 14th, 2014 in Geneva, a massive occasion will take place as the world’s most famous watch is to be auctioned off by Sotheby’s. Known as The Henry Graves Supercomplication, this Swiss made masterpiece was produced by Patek Philippe back in 1933.

Both the most famous and the most complicated watch ever made entirely by hand, the estimated price this watch is expected to sell for is about $16.8 Million. This event at the auction house in Geneva also marks the 15-year anniversary of the previous record-breaking sale for a watch, also coming from this same piece. Back then in 1999, the same watch was estimated to sell for $3-$5 Million, however sold for an impressive $11 Million. In addition to what will make this day in November so special, the evening will represent the 175th anniversary of Patek Philippe, hence setting quite the stage for this watch once again.

Both Daryn Schnipper, the Chairman of the Sotheby’s Watch Division, and Tim Bourned, the Worldwide Head of Watches at Sotheby’s, shared together that this is, “…the Holy Grail of watches. Our offering of this horological work of art in 1999 was unquestionably the highlight of our professional careers.”

The piece was first commissioned by Henry Graves back in 1925. Three years of research and an additional five years of work by technicians was needed to complete this astronomical project. Some of the notable features of the watch include moon phases, power reserve, a perpetual calendar, and sunset and sunrise indicators. There is a gold openface minute repeating chronograph clockwatch with Westminster chimes and a total of twenty-four horological complications.

This watch stood as the most complicated piece ever made for 56 years until technicians began using computer-assisted technology. Despite this, it is still the most complicated handmade watch ever produced, undoubtedly the most famous, and is sure to set a new record in just a few months. Stay tuned.

More Information: artnet news

Sotheby's International Realty News: Washington Firm added to our Network

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Marketplace Sotheby’s International Realty represents the newest member of our brand

Sotheby’s International Realty Affiliates LLC have just recently announced that we have opened up yet another office, this time in Woodinville, Washington. To now operate as Marketplace Sotheby’s International Realty, broker/owners Chad and Aaron Shriner are now already planning on opening a second office in Redmond, Washington.

Now after this successful transition, the Sotheby’s International Realty brand is proudly represented by eight independently owned and operated offices throughout the State of Washington.

Aaron Shriner came forward to comment on this fantastic news by stating, “Our focus is on working together as a team to provide the best service and experience to our clients. Through the quality service we provide, we aim to be in a class of our own. With the support and global reach of this brand, we believe we can achieve that. We have a very savvy clientele and work to be their trusted real estate advisor.”

The Sotheby’s International Realty network is now present in roughly 54 countries and territories worldwide, encompassing about 700 offices and more than 15,000 sales professionals. Philip White, the President and Chief Executive Officer at Sotheby’s International Realty Affiliates LLC shared that, “Marketplace Sotheby’s International Realty is centrally located in the heart of the western Washington wine country. Known for its unique beauty, the location has become a point of tourism for wine aficionados.  With more than 60 years of combined ownership and management experience, Chad and Aaron have a great depth of knowledge in their market.”

We at Gibson Sotheby’s International Realty would like to congratulate Chad and Aaron and look forward to working with those at Marketplace Sotheby’s International Realty in the near future.

For other Sotheby’s International Realty office openings that have occurred recently, please see the various links below:

More Information: Sotheby’s International Realty

Fenway Real Estate: Condo Prices Climb 43% Annually

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The new luxury condo project near Symphony Hall helped drive median prices up in the Fenway in Q2

The Fenway neighborhood of Boston has historically been one of the more affordable neighborhoods in the region. While this still may be the case, the massive influx of investment into the area is seeing prices soar over the past year. LINK Boston has just reported that the Second Quarter of 2014 saw condominium prices rise by a massive 43% in The Fenway on a year-over-year basis.

With new developments pouring into The Fenway, the current and future housing platform for the neighborhood will never look the same. Median prices are now up to $531,500 as of the end of June. This figure dramatically beat out last year’s corresponding median price of $374,000 in The Fenway.

In total, Q2 saw 104 sales across The Fenway. Real estate professionals agree that the improving development of the area’s infrastructure, places of business, and of course residences, will continue to see real estate grow and prosper in the neighborhood. Mr. Bray, an expert in the field, noted that, “Fenway is the hottest neighborhood in Boston outside of the Seaport District and South Boston. If you walk down Boylston Street, there are three major luxury apartment projects with commercial space on the ground level under construction. The buyers see the Fenway as the next ‘it’ neighborhood and it’s booming.”

Many people not willing to pay the premium prices being demanded in places such as the Back Bay and South End are looking to The Fenway as a more than acceptable alternative. In fact, The Fenway’s booming rental pool is resulting in many individuals purchasing property here as an investment to then rent out.

One of the buildings that really helped impact The Fenway’s triumphant Second Quarter was the sale of the units at the Symphony Court project. These 48-units at 43 Westland Avenue saw 90% of the residences sell during Q2 with them ranging in price from $450,000 to $1,200,000. Marking one of the most successful Quarters for any neighborhood of Boston in years, the future has never looked brighter for The Fenway than it does today.

More Information: Boston Business Journal