3 Battery Wharf, # 3301, Boston - Waterfront, MA
Price: $879,000
1 Bed
2 Baths
Sq. Ft. 1,070
MLS #: 71321771
Price: $879,000
1 Bed
2 Baths
Sq. Ft. 1,070
MLS #: 71321771
Price: $1,399,000
3 Beds
3 Baths
Sq. Ft. 1,789
MLS #: 71357439
Price: $2,199,000
2 Beds
2 Baths
Sq. Ft. 1,520
MLS #: 71211295
Price: $1,299,000
2 Beds
2 Baths
Sq. Ft. 1,562
MLS #: 71362696
Price: $1,329,000
3 Beds
3 Baths
Sq. Ft. 2,264
MLS #: 71376775
The City of Boston has raised property taxes by 2% for fiscal year 2012 — which is the maximum allowable increase under Proposition 2 1/2. The 2012 tax rate rose to $13.04 per thousand valued, which is a $.25 increase from 2011. Boston Commercial Property taxes also rose 3% to $31.92 per thousand valued.
With nearly 70% of Boston’s budget funded by property taxes, the 2012 tax increase will bring the city $75 million of additional revenue. Property taxes can be raised annually by either an increase in the tax rate or increase in the assessed value. Residential tax rates have increased over the past 3 years while assessed values (for the most part) have remained the same.
If you are thinking of selling your Boston Waterfront Real Estate, or buying Luxury Boston Waterfront Home, contact CL Waterfront Properties, LLC for guidance and assistance.
Posted By: Dave Costello
With tougher mortgage rules and buyers asking for lower prices, the real estate is becoming more of a cash economy as reported in the Boston Globe this weekend.
Homes paid with cash in Massachusetts has reached to more than a third of home sales this year with more and more home buyers opting out of the mortgage process.
August cash sales accounted for 34 percent of the residential real estate transactions. Some of the areas with the highest percentages of mortgage-free deals include Roxbury, downtown Boston and Cambridge. One of the most notable sales came from our offices here at CL Waterfront, which was the former Red Sox player Manny Ramirez’s $5.6 million condo at the Ritz-Carlton Towers, exclusively listed and sold by CL Waterfront President, Carmela Laurella.
If you are interested in purchasing or selling a luxury Boston or luxury waterfront home, please contact our offices today.
Boston’s Downtown Condo Market is booming this year. The overall median price for Boston rose by 10.2 percent to $487,000 this year, while luxury building prices rose 13.1 percent to a median of $735,000. Both of these metrics are only about $15,000 shy of 2008 peak prices just before the financial crisis frightened buyers.
Although these numbers seem good, citywide home sales in Boston have declined by 10% since last year. The increase in both medians is likely due to the 26.8 percent increase in high-priced luxury condominium sales, most of which are in the downtown Boston area. Another major factor allowing prices to increase while sales decrease is that there is simply less supply, giving sellers more power in the market. Debra Taylor Blair, president of the Listing Information Network, a Boston company that tracks the city’s downtown condo market, presented the idea that “Sellers can rent their properties out and more than cover their mortgage.” This at least partially explains home-owners’ reluctance to sell, and points to positive trends in market confidence despite the sales decrease.
John Ranco, a broker with the South End’s Hammond Residential Real Estate, also pointed out that much of last year’s sales were driven by federal home buyer tax credit. These incentives mainly affect first-time home buyers, and therefore lower-priced sales. Again, this helps explain 2011′s lower sales quantities but higher prices.
To read more about Boston’s booming real estate prices, visit Boston.com’s article at http://articles.boston.com/2011-07-26/business/29817026_1_condo-market-condo-prices-debra-taylor-blair.
Interested in buying or learning more about Boston Luxury Condos? Contact CL Waterfront today!