January 3, 2012

Residential Property Tax Increase of 2% for 2012

Boston Property TaxThe 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

October 5, 2011

More homes being bought with cash

Boston Homes being bought with cashWith 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.

July 28, 2011

High End Sales Push City & Waterfront’s Prices up 10%

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.

Boston WaterfrontAlthough 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!

February 12, 2011

Why Buying a Home is Like Dating…

Posted by: Vito Ascolillo

Happy couple in love in their new home

Finding Love is Like Find the Perfect Home

You may not realize it, but finding the perfect Boston luxury home is actually a lot like find the perfect mate!

Finding true love and finding a home you will truly love, both start with you looking for something that will be in your future.  Like dating, when you search for a new home, you go searching for something attractive, comfortable, and even sexy.  There are certain criteria or conditions to be met like size/heart, how many rooms/weight, date built/age, updated appliances/nip-tuck, missing shingles/hair loss, etc.

Each home has its upside and downside just like each date.  Is it a warm place/does he have heart?  Are there too many stairs/is she understanding?  Can I hear the neighbors through the walls/is he listening to me?

So you keep searching and dating, then finally, you find it!  The perfect Boston home and the perfect person.

If you need help find a Back Bay condo or Beacon Hill condo, or want to tour luxury homes for sale on Boston’s Waterfront or North End, contact CL Waterfront Properties LLC.

Happy Valentine’s Day!

February 10, 2011

Most Romantic Boston Restaurants

Most couples make it a priority to get out of the house and have a ‘Date Night’ on Valentine’s Day, something the can get lost over time.

Barlola in a great date spot for Valentine's Day in Boston

Tapas are a Good Date Idea

The city of Boston is saturated with restaurants of all kinds!  You and your Valentine can enjoy some American cuisine such as Union Bar & Grill in the South End, or Towne in Back Bay.  Tapas/ small plates style restaurants are really popular, such as Cuchi Cuchi or Dali in Cambridge, Barlola in Back Bay, and the Ristorante Damiano in the North End.  If French foods are more what you had in mind, Sel de la Terre has locations in Back Bay and a new Waterfront location as well, or take a trip to Beacon Hill Bistro in Beacon Hill.  Moroccan cuisine makes a unique evening at hot spots like Tangierino in Charlestown.  Of course Italian cuisine is extremely popular, such as Tresca and Prezza in the North End.

Let’s face it; Italian cuisine is the obvious choice for 99% of people going out on Feb. 14th!  The North End/ Waterfront area provides you with the ultimate setting for a Valentine’s Date Night!  The smell of garlic, pastries and espresso in the air, little Italian men selling roses on the street, the violin player making his way to every table in any restaurant that will have him, and the vibe on one of Boston’s most historic streets Hanover just adds to the perfect back drop for the night.

Marco, Best Date Restaurant

Marco, Best Date Restaurant

One of the best North End/Waterfront locations to make the night special is in a tiny restaurant of 10 tables, a stone fireplace, and the feeling of actually being in Italy –Marco.  Marco is hidden on the second floor located at 253 Hanover St, above Café Paradiso.  When you call to make your reservation, make sure you ask for the table near the front window and fireplace, your date will be VERY IMPRESSED.

Once you have finished dinner, make your way onto Hanover Street to one of Boston’s most historic landmarks – Mike’s Pastries – for a cannoli.  If an after-dinner glass of wine is your choice, Bricco on Hanover Street or the wine bar located on Richmond St – Vinoteca di Monica, are the perfect stop!  After a big meal and a few glasses of wine, a great way to wake up for the trip home is to sit and finish the night with an espresso at Boston’s first Italian Café – Caffe Victoria on Hanover St in the North End.

Enjoy your Valentine’s Day and make is special for that someone in your life!