Boston Pads

Full post: https://bostonpads.com/blog/renters/how-much-does-renters-insurance-in-boston-cost-is-it-worth-it/ Some people are under the false impression that the property owner’s insurance also covers the tenants’ personal items. However, that is not the truth. Your landlord’s property insurance covers damage or destruction of the building, but it doesn’t cover your stuff, or your liability if a third party becomes injured in your Boston apartment. The good news is that renters insurance in Boston protects both you and your belongings. If you are leasing a Boston apartment for the first time, or have not given it much thought before, read on to find out if it’s truly worth it. How Much Does Renters Insurance Cost in Boston? Basic renters insurance in Boston costs approximately $180-$360 per year. However, there are renters insurance plans available for as little as $12 per month. Your insurance company will typically offer various payment options- monthly, quarterly, or yearly- th...

Full post: https://www.einnews.com/pr_news/596353718/boston-pads-real-estate-database-now-exceeds-200-000-boston-apartment-listings BOSTON, MA, UNITED STATES, October 17, 2022 /EINPresswire.com/ -- BostonPads.com has achieved another company milestone by surpassing 200,000 Greater Boston apartment listings in their real estate repository. This latest success comes just weeks after announcing their database surpassed 17,000 landlord contacts in August and 1 million property photos in September. These latest company milestone’s have occurred during a year when Boston’s apartment rental market is experiencing record low apartment supply figures and record high average rent prices. The market volatility of the past 3 years combined with a poor economic outlook has put a premium on access to real-time market data for landlords and property managers.

Full post: https://bostonpads.com/blog/real-estate-agents/can-real-estate-agents-in-boston-work-from-home/ The demand to work from home has increased, and real estate is no exception. Across industries, increased flexibility is the major reason professionals want to work remotely. Real estate already offers this perk. As a real estate agent, you can make your own schedule and maximize your time. However, working entirely from home is not a good idea if you want to be a successful real estate agent in Boston. Boston is a competitive market where you need to constantly meet people, build relationships, and interact with a swath of real estate professionals so you can better hone your strategies and closing abilities. Working in an Office is a Benefit Although many experienced agents take this for granted, there’s an incontrovertible truth that offices with a high in-person presence have more knowledgeable agents and close a greater amount of deals. New agents should take note of this...

Full post: https://bostonpads.com/blog/real-estate-investing/should-your-first-boston-real-estate-purchase-be-a-multifamily-home/ If you’re a first-time home buyer fortunate enough to have some capital to put down, purchasing a multi-family home in Boston could open all kinds of doors for you! A multifamily property (or multi-dwelling unit) is defined as a residential building with two or more units under one roof or several buildings in one complex. Duplexes, townhouses, apartment complexes, and some types of condominiums are all examples of multifamily properties. The Boston real estate market, overall, continues to be robust- with renters in various multi-dwelling units staying put longer and renewing their leases at higher rates than in the past few years. With a ready down payment and the right mortgage, you can potentially purchase a multifamily property as easily as if you were buying a single-family home. Investing in a multifamily property in Boston can provide you and your...

Full post: https://bostonpads.com/blog/boston-housing-market/how-is-inflation-affecting-contractors-and-boston-real-estate/ Without a doubt, 2022 will go down in history as one of the worst years for inflation in modern U.S. history. With the Consumer Price Index above 8% since March, we’re seeing the highest inflation levels in 40 years. Thanks to poor fiscal responsibility and highly questionable energy policies, rampant inflation and supply chain bottlenecks are starting to cripple our future supply of new products introduced into the Boston housing market. The cost of building materials is increasing by a much larger margin than CPI. The current PPI for New Nonresidential Building Construction is up by 24% over the past year. That triples the price increase for consumer products (CPI). Housing supply in Boston is already at a critical shortage, and now developers are faced with even more fiscal barriers in creating new housing inventory for Boston’s growing population. We could ...

Full post: https://bostonpads.com/blog/landlords/how-boston-property-owners-can-reduce-apartment-turnaround-time/ Attention Boston property owners. If you own or manage an unoccupied Boston apartment then you’re probably starting to feel a sense of panic. Each and every day that your apartment remains empty is costing you money. Have you actually sat down and calculated how much cash you’re losing? We’re talking about a potential of thousands of dollars per month. It’s bad for your bottom line and your stress levels. You purchased the property to make money, not lose it. The good news is that there are always people looking to move to Boston. That means you’re not limited to tenants who only want to move in by the popular September 1st date. Now, you just need to do what it takes in order to catch the attention of the right tenant. We can help. Here’s how Boston property owners can reduce apartment turnaround time.

Full post: https://bostonpads.com/blog/buyer/featured-greater-boston-homes-that-could-be-yours/ Buying a home is one of life’s great milestones. Whether you’re looking to buy a single-family home, a condo, or a multi-family home for sale in Boston, the decision to purchase real estate is a big one. Keep in mind, while the price tag might be smaller on a condo or single-family, multi-family homes might cost you less out of pocket each month. If you’re not sure how you want to move forward in your property ownership journey, you need to talk to professionals. A mortgage specialist will be able to help you figure out how much you can afford to purchase. They can also guide you if there are any steps you need to take before you qualify for a mortgage. A real estate professional specializing in Boston rentals and investment sales will be your best resource if you are considering purchasing a multi-family. It’s important to work with someone that can help you accurately price your rental ...

Full post: https://bostonpads.com/blog/landlords/what-are-the-benefits-for-landlords-to-signing-an-exclusive-right-to-rent-agreement/ Massachusetts Landlords have multiple routes when it comes to listing a rental property. Those options range from listing it directly by owner, to using dozens of real estate agencies in the area. This article will discuss the benefits for landlords to signing an “Exclusive Right to Rent Agreement,” and the important factors to look for in a real estate agency. What is an exclusive right to rent agreement? In this type of agreement, you as a landlord give exclusive rights to one agent or company to rent your property during a specified period of time. What’s unique in this arrangement, is that it entitles the agency to be the exclusive listing agent for that property. It commits the landlord not to list it with any other agent or real estate company. This agreement is signed for a limited period of time, and the agent is paid a commission only if the ...

Full post: https://bostonpads.com/blog/real-estate-investing/how-to-get-started-investing-in-multi-family-homes-in-boston/ The Boston real estate market is hot- prices keep rising in 2022, making it intimidating for new investors. However, if you think it’s too complicated, or even impossible, to invest in the city’s thriving multi- family market then think again. In some instances, you may even be able to achieve a lower net monthly payment for a multi-family home in Boston than for a single-family home. Keep in mind, there are a few steps to follow if you want to successfully invest in Boston real estate. 1. First, do the Math Your first step should be to determine how much you can afford to pay. Depending on the loan product, the down payment can be anywhere from 5% to 30%, or more. Typically on an investor loan (non-owner occupied), lenders are looking for at least a 20% down payment. However, if you’re going to occupy a portion of the property, the down payment could significa...

Full post: https://www.einnews.com/pr_news/592854298/boston-pads-eclipses-1-million-property-images-in-their-growing-real-estate-database BOSTON, MA, UNITED STATES, September 26, 2022 /EINPresswire.com/ -- Boston, MA - BostonPads.com has reached another company milestone this week, surpassing 1 million listing images in their evergrowing real estate database. This announcement comes just a few weeks after their database eclipsed 17,000 Greater Boston landlord contacts in yet another company achievement. Boston Pads CEO Demetrios Salpoglou points out that this achievement is a testament to how the company has been able to adapt to changes brought about by COVID. “During the pandemic, we saw a hundreds of landlords flock to our platform and seek cutting edge marketing solutions. Digital property images, 3D tours, and video became even more important to effectively market listings, and the team stepped up and delivered. They’ve added nearly 300K photos and 10K videos just in the last 3...

Full post: https://bostonpads.com/blog/home-improvement/interior-design-ideas-transform-your-basement/ When moving to a new home, having a finished basement can be a real selling point. Of course, then you must decide what to do with the extra space. This can be especially difficult if you have multiple people with multiple different interests! You can always section off different areas and spaces for different activities, or create one big area for everyone. When it comes to Boston real estate, where space is highly valuable and quite expensive, a great basement can be a huge plus in quality of life! Read below for our tips on different fun ideas for your basement! 1. Basement Entertainment Room If you want an extra room to spend time with family and friends, an entertainment room is a great idea. You can section off an area for a home “movie theater”—a TV, couch and popcorn machine is a good start. Put a shelving unit in with board games. This is a great way to keep organized and ...

Full post: https://www.zerosuniverse.com/what-will-happen-home-prices/ As the economy drags into a recession in the second half of 2022, we’re already seeing the negative effects on housing markets nationwide. Home sales have cratered over the past 3 months as a result of the Fed raising interest rates 5 times in 2022. Home prices have already begun backtracking as a result, casting a shadow of doubt on the future of the housing market. Many are wondering what is going to happen to home prices in 2023. Most industry experts agree on one thing:

Full post: https://educationcareeronline.com/should-you-become-a-real-estate-agent-in-boston/ With interest rates rising and the nation’s housing market on the ropes, you may be wondering if it’s still a good idea to pursue a real estate career in Boston. While the short-term market outlook may not look too promising, there are still plenty of good reasons to start a rewarding career in real estate. Here are a few reasons why: 1. Boston’s Economy Is Still Growing Boston has emerged as one of the biotech capitals of the world over the past decade. Boston-based startups have consistently increased the total amount of VC funding raised over the past 5 years, and Boston has solidified itself as the 3rd largest metro in the US by total VC funding raised.

Full post: https://butlerdispatch.com/boston-condo-market-report/ The red hot real estate market in Boston is finally cooling off as we head towards the end of 2022. After a decade-long period of record growth, soaring inflation and rising interest rates have effectively put a chokehold on demand for Boston real estate. Year-over-year total sales for all property types in Boston have been in the red for 10 consecutive months now, the longest span since 2010. Even more concerning is the fact that total sales have dropped by margins below -20% for the past 4 months, indicating the demand destruction is accelerating.

Full post: https://crazy1market.com/boston-multi-family-market-report/ Demand for multi family homes in Boston is eroding based on the most recent MLS data. Total 30 day sales of multi-family properties were down for the fourth month in a row in Boston. This drop in total sales occurred as economic conditions have worsened. Soaring inflation has prompted the Fed to raise interest rates 6 times thus far in 2022, effectively stifling demand for Boston real estate. The market for multi-family was not immune to this trend. Median sale prices for Boston multi-family properties have leveled off over the last 5 months after seeing record growth throughout the previous 10 years. For the first time since the last housing crisis, year-over-year median sale prices for multi-family properties hit negative margins in 3 of the past 6 months.

Full post: https://www.thenewssources.com/boston-single-family-market-report/ Boston’s real estate market for single family homes took a big hit last month. Total single family sales in October were down by -14% year over year in Boston after the Fed raised interest rates in September by 0.75%. That was the third increase of 75 basis points in four months and 5th rate hike of 2022 up until that point. As a result, median sale prices for single family homes took a big hit in November and are trending downward. Boston Single Family Median Price Hits Lowest Point Since November 2021 Last month, Boston’s median sale price for single family homes was $759K. While still up +7.09% year over year, it was the lowest median sale price recorded for the City of Boston since October 2021. It was also a steep drop from the $943,013 single family median sale price recorded just a month earlier in September.

Full post: https://www.builtinboston.com/event/boston-real-estate-market-shows-signs-slowing/101007 Boston’s real estate market for condos notched a surprising spike in median sale price last month despite year-over-year sales being down by double digit margins. Boston’s median condo sale price in October jumped by +9.7% month-over-month, and is up +14.79% compared to October 2021. While the MLS data shows that prices are still up year-over-year, rising interest rates have already taken a toll on the demand for Boston condos and prices will likely begin to tumble soon.

Full post: https://crunchtimenews.com/2022/09/lowest-september-vacancy-rates-on-record-in-boston-following-9-1-leasing-rush/ Boston’s apartment rental market looks much different this September than it has in recent years. Following a rental season where the city recorded some of the lowest supply figures on record, Boston’s vacancy rate currently sits at .46%, a record low for September. That figure is down -76.65% year-over-year and only marks a +64% increase since last month. Typically on 9/1 in Boston, the vacancy rate surges as previous tenants vacate their leases. Nearly half of leases for Boston apartments begin on 9/1 due to the unusually large student population. In 2019 and 2020, the monthly-over-month vacancy rates jumped by +298.25% and +329.85% respectively in the first week of September, which was considered normal. Now in the last two years, Boston’s vacancy rate went up by much lower margins. Last September, the month-over-month vacancy rate jumped by a much s...

Full post: https://bostonpads.com/blog/boston-housing-market/2022-q3-boston-real-estate-market-report/ As we enter the final quarter of 2022, it appears like the decade-long period of growth for Boston’s real estate market is grinding to a halt. The most recent MLS data shows that rising interest rates have effectively suffocated demand for Boston real estate in Q3. Total 30 day sales from September are down -37.24% compared to a year ago. Meanwhile, the total number of sales listings are up 25.10% over the same period. As a result, Boston’s 30-day median sale price has been slipping from the record high of $876,091 set in May of this year. Last month’s 30-day median sale price of $807,303 is still up by a slim margin (+3.64%) compared to September 2021, but current data trends show that year-over-year price growth will soon be in the red in Boston. Let’s take a look at the trends driving Boston’s real estate market. Demand For Boston Real Estate Waning In September, the City ...

Full post: https://bostonpads.com/blog/boston-rental-market/2022-dorchester-apartment-rental-market-report/ The apartment rental market in Dorchester, MA has never looked more expensive for renters in what has historically been one of Boston’s more affordable neighborhoods.  In March of this year, Dorchester’s average rent price hit $2,253, surpassing its previous record high set in June of 2020 ($2,229).  Since July, that average rent price has continued to climb to new all-time highs weekly amid record low apartment availability.  It now sits at $2,370, a +9.74% increase year-over-year.  Let’s look at the main trends driving Dorchester’s apartment rental market in 2022.

Full post: https://bostonpads.com/blog/boston-housing-market/2022-q3-boston-real-estate-market-report/ As we enter the final quarter of 2022, it appears like the decade-long period of growth for Boston’s real estate market is grinding to a halt. The most recent MLS data shows that rising interest rates have effectively suffocated demand for Boston real estate in Q3. Total 30 day sales from September are down -37.24% compared to a year ago. Meanwhile, the total number of sales listings are up 25.10% over the same period. As a result, Boston’s 30-day median sale price has been slipping from the record high of $876,091 set in May of this year. Last month’s 30-day median sale price of $807,303 is still up by a slim margin (+3.64%) compared to September 2021, but current data trends show that year-over-year price growth will soon be in the red in Boston. Let’s take a look at the trends driving Boston’s real estate market. Demand For Boston Real Estate Waning In September, the City ...

Full post: https://www.thepostcity.com/most-affordable-neighborhoods-to-rent-an-apartment-in-boston/ Boston’s average rent price has been rapidly rising in 2022 after 2 years of stagnation during COVID. The current average rent price for Boston apartments ($2,722) is up +8.23% year-over-year and as of April, that figure has surpassed its previous all-time high of $2,646 set in June 2020. Now the city of Boston is among the most expensive places to rent an apartment in the US. If you’re a renter on a budget in Boston, these numbers can be intimidating. Luckily, we combed through tons of apartment data to find the most affordable neighborhoods to rent an apartment near Boston. Here’s the list!

Full post: https://activerain.com/blogsview/5752504/condo-sales-dipped-by--43--last-month-in-boston?show_share=1 Boston’s market for condo sales looks to be eroding in the face of rising interest rates and inflation. Total condo sales in the city last month were 325, a sharp -43.48% drop compared to August 2021. Last month, the Fed raised interest rates for the 4th time in 2022 to try and control rampant inflation. It seems to have stifled demand for Boston real estate, as last month's total sales were the lowest for September in the last 5 years. We can expect to see more of the same as we head into Q4, typically the low season for Boston’s real estate market. This week’s news of another rate adjustment of +75 basis points will continue to squeeze smaller buyers out of the market. If the recession drags on and mass corporate layoffs ensue, we could see demand destruction on par or worse than what we experienced after the last housing market crash in 2009. With this in...