The International Guide to Boston Real Estate

Welcome to Mondo Boston!

Searching for a home in Boston can be a daunting task if you live abroad. Mondoboston.com exists to help introduce international buyers to Boston and the home buying process. Use our site to find out more about the logistics of house buying in the United States. Catch up on neighborhood news, surf our links to other Boston real estate websites, and check out our featured house listings. Our neighborhood descriptions can help give you a feel for each downtown neighborhood, and our picks can help you find the best places to find the important stuff in life… like a loaf of crusty bread or a decent wedge of cheese. Ultimately, should you decide you need a realtor, we can even help you find a professional who can work with you in your search for a place to call home.

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What You Get for $275K or Less

You might think it next to impossible to find any property in central Boston for less than $275K. And yet, life is full of surprises. We found more than just a few condos priced under $275K, with the best selection available in the red-hot Fenway. Does this mean that prices are finally flattening out? Time will tell. Take a look:

673 Tremont Street, #8
South End
BEDS:1/BATHS:1
SQ. FT: 550
$229K

PROS: It’s pratically unheard of to find a decent-sized condo for this price in the South End. Also, the bathroom and kitchen appear to be updated and it includes a rear patio.
CONS: The living room has only two small windows. The space appears dark and antiseptic.

13 Thacher Street, #1
North End
BEDS:1/BATHS:1
SQ.FT: 461
$275K

PROS: The unit features exposed brick and hardwood floors. The building is in a great location right off Prince Street.
CONS: The kitchen is small and could use some updating.

65 Burbank Street, #12A
The Fenway
BEDS:0/BATHS:1
SQ.FT:338
$239K

PROS: This studio has been completely renovated and includes custom granite counters, breakfast bar, and stainless steel appliances. The building is also located in the heart of things, near several universities and Symphony Hall.
CONS: At 338 square feet, this studio is a tight squeeze for just about anyone.

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Some of Us Are Better Off Renting

Is the goal of owning a home all it’s cracked up to be?

Not according to Rutgers Economist Eugene White who argues in the Wall Street Journal that renting has one major advantage over owning: flexibility. When things get tough, when someone loses a job or gets a pay cut, a family with a year-long or month-to-month lease can move to smaller and cheaper quarters. End of story. Life goes on.

On the other hand, homeowners get stuck when their financial circumstances change. They could try to sell, but at great expense. And if they stick it out, they’ve got to worry about not only their intractable mortgage payment but also taxes and insurance. If the home is a condo, there’s always the fixed cost of the condo fee too.

White argues that government programs established to keep people in their homes may be misguided since just adjusting a mortgage downward can’t offset the total costs of homeownership. Perhaps the ultimate goal, he says, should not be homeownership for many families, but rather flexibility which will pay off with  upward mobility. In the old days when homes cost a lot less and seemed guaranteed to appreciate in price, owning a home WAS a way to upward mobility. Those were the days when the cost of a home might be equivalent to a year or maximum two of salary. But at some point the costs of owning a home rapidly overtook the average salary becoming 7 or 10 times a yearly salary. (Maybe more). It should have been clear for many families at that point that homeownership maybe just wasn’t worth it.

So when is homeownership worth it? Here’s the mondoboston.com take:

  1. When the cost of renting is high relative to owning. (In some high-priced cities, rent might surpass the cost of a modest home). Certainly in Boston there are areas where rent could total up to several thousands a month which might be better used to pay a mortgage.
  2. When a home can be comfortably bought outright, leaving some savings. Buying a home outright may tie up funds that could be invested, but it also allows a family to have a flexible income stream. If someone in the family loses a job or gets a pay cut, the family still enjoys a secure home base.
  3. When homes are cheap. Owning a home may still be more expensive than renting, even when prices are relatively low. On the other hand, owning a home gives homeowners the ability to improve their properties and invest in their communities, without fear of reprisal. Usually the psychological advantage is worth it.

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Concert and Art Exhibit All Rolled into One

Looking for something different to do? How about going out to a concert and an art exhibit at the same time?

The New Gallery Concert Series has been running simultaneous concerts and art exhibits for the last 10 years out of the Community Music Center of Boston at 34 Warren Street in the South End.  And here’s the really cool part: the music is contemporary classical music being composed right now by some of Boston’s most talented composers. The music is performed by some of Boston’s most talented musicians and singers, and the art is being done by some of Boston’s coolest and most talented painters. (Full disclosure: Mondoboston’s Pamela Reynolds exhibited her art at the last concert in January.) The icing on the cake is that the art and music are chosen to reflect one another, so that a night at the music hall suddenly becomes a multi-media experience without the use of electronics.

January’s concert featured composer Andrew List, soprano Lisa Saffer and artist Pamela Reynolds. The next event is scheduled for 7 p.m. April 29 and will feature quilt maker Beverly Arsem and the Borromeo String Quartet. Tickets are $20 for adults and $15 for students, seniors and children. Concerts are free for members of the Community Music Center of Boston community. Read more about upcoming concerts here.

The Community Music Center of Boston
34 Warren Avenue, Boston, MA 02116
between Berkeley and Clarendon Streets, one block north of Tremont
(617) 254-4133

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What You Get in Four Boston Neighborhoods for $350K

So what does $350K get you around Boston these days? We checked out four Boston neighborhoods and came up with a radically different selection of condos — all for more or less the same price.

261 Marlborough Street, #2
Back Bay
BEDS: 1/BATHS:1
SQ.FT: 475
$350,000

PROS: This Back Bay condo has been completely renovated and includes a decorative fireplace.

CONS: The unit is fairly small, “garden level” and rented through 8/31/2010. Also, parking is not included.


16 Meehan Street, #2
Jamaica Plain
BEDS:3/BATHS:2
SQ.FT: 1200
$350,000

PROS: This unit is new construction and large. The condo comes with parking, central air, gas fireplace, sprinkler and security systems. It also features an open and airy floor plan, deeded storage and a private patio and deck. The seller will also pay up to $2000 towards buyers closing costs.

CONS: The unit is not very close to the train, although there is a bus line that is not too far away.


12 Bellvista, #1
Brighton
BEDS:2/BATHS:1
SQ.FT: 1020
$350,000

PROS: The building was designed by Longfellow’s nephew, and includes interesting and unique architectural detail, including murals, venetian plaster, mosaics and high ceilings. Parking is also included.

CONS: The architectural details may not appeal to everyone’s taste, and some details borders on kitsch. The condo fee is a bit high at $428. Also, the area caters renters rather than long-term owners.


2 Harvard Place, #2
Charlestown
BEDS:1/BATHS:1
SQ.FT: 510
$329,000

PROS: Lots of architectural detail including 11′ ceilings, 7 large windows, original moldings, pumpkin pine floors and marble mantled fireplaces.

CONS: The unit is small for the price and location, and does not come with parking.

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The Artist As Collector

What do artists put on their walls?

You can find out by visiting the Laconia Art Gallery in the South End’s SOWA district.

“Artist as Collector” is running through March 6 and displays artwork collected by several local artists, including Derek Brain, Danielle Krcmar, John Guthrie, James Hull, Donna Veverka, Joe Wardwell, Katie Fitch, Douglas Weathersby, Hilary Tolan, Brian Zink and Paula Soares.

Three of the six artists have — or will soon — appear on one of our favorite blogs, ApartmentTherapy.com. You can actually see the art of these artists and collectors in context at Katie & Joe’s 3 Story Jamaica Plain Condo and Paula & Brian’s Cambridge Condo Rehab. John Guthrie’s art collection will be featured on Apartmenttherapy.com in  March. What you’ll find on display are quirky smaller works of the sort that feel natural in small spaces. And you may even get inspiration to start a collection of your own!

Gallery Hours:
Laconia Art Gallery
433 Harrison Ave.
Thursday - Sat, 12-4pm
First Fridays, 5:30-8pm

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Clarendon Wins Condo Smackdown

Boston Magazine has officially named The Clarendon Back Bay the best of three recent luxury condo developments to go up downtown. The other contenders included 45 Province in Downtown Crossing and 100 Stuart Street bordering Chinatown.

What makes the 33-story Clarendon so special? Well, according to Boston Magazine, it has something to do with the walnut kitchen cabinets, stone countertops, Miele and Sub-Zero appliances, Calcutta gold marble bathrooms and white oak floors. And of course, the building’s location between the Back Bay and the South End takes advantage of restaurants and shops in two of Boston’s best neighborhoods. Studios begin at 589 square feet, and condos max out at three bedrooms in 3,545 square feet. It’s also possible to rent at The Clarendon, (two-beds start at $5,500) but be forewarned that renters get second-class treatment with their own separate entrance and elevator. (We wonder if they’ve also got separate water fountains?) A one-bedroom, 765-square-foot condo sales for  around $720,000.

We have yet to visit The Clarendon, but we’d love to hear the opinions of those who have. Write us with your thoughts!

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Recession Brings A New Plan for the Seaport District

For years the city had been talking of transforming the moribund Seaport District in South Boston into a 24-hour neighborhood resplendent with shops, offices, entertainment, green space, and waterfront residences. And indeed, it was easy to imagine such a glam neighborhood during the go-go 90s, when every crappy little corner of Boston was getting fixed up and gentrified into something decent.

But then the recession hit. Just as developers were gearing up to build more luxury condos, expensive steakhouses and sleek office buildings, the economy tanked and a good bulk of the development plans were blown away, like so much trash in one of the Seaport District’s parking lots. The Seaport District was left with only half of the office space originally proposed and only one-eighth of the proposed residential units. The shops and restaurants that were supposed to be the crowning glory of this District never materialized. Only 231,000 square feet of shops has been built of the 2 million square feet originally proposed.

But now Mayor Menino has another plan: why not create a biotech district similar to that over in Kendall Square?  His idea is to create an affordable new neighborhood that would attract web developers, manufacturers of green products, pharmaceutical researchers, bio-tech, and other start-up businesses. The city is talking about “co-housing” aimed at young, creative, highly-educated people with miniscule salaries. The new type of housing might offer internet access as part of the rent, but only a shared kitchen somewhere down the hall. The idea is to attrat and retain the 20-somethings and 30-somethings that might be tempted to pull up stakes for more affordable high-tech cities like Austin, Texas or Raleigh, North Carolina.

The model for the new district comes from Barcelona, Spain where an old industrial area was remade in the past decade into a lively hub, attracting thousands of new residents and hundreds of new companies. It’s called 22@Barcelona, a modern take on the city’s traditional 22a zoning designation for industrial areas. The district features technology centers, new apartments, parks, restaurants and bike paths. The workforce is organized into “innovation clusters,’’ including zones for medical devices, energy efficiency, and information technology. Pretty clever stuff.

Now can such a district work in Boston? Who knows? But it’s certainly worth a try. The mayor’s new plan is special, in that it is not dependent on building housing for the wealthy, and that it can potentially expand on the city’s current technology and academic base. Nurturing small start-ups can’t help but improve the city’s economy, and we would expect the area’s landscape to improve too, as trash-strewn parking lots get developed into parks, bike paths, bio-tech buildings and apartment buildings. So over here at MondoBoston, we say: go for it!

Read more at Seaport Alliance for Neighborhood Design.

Read the South Boston Waterfront Public Realm Plan.

Read about Seaport Square in South Boston.

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Assessing the Local Real Estate Market

So what do you think, is the real estate market on an upswing? According to a recent article appearing in The Boston Globe, many local real estate buyers are finding it pretty hard to find a decently-priced, quality home in a good location. And when they do, it either gets sold instantly or several buyers make an offer, causing a bidding war to break out.  Same as it ever was, we reckon.

In fact, when it comes to single-family homes, according to Boston.com, the number on the market fell to 21,743 in December, marking 21 consecutive months of inventory decline compared with the same month a year before. December’s figure was a nine-year low for the month. Buyers in the Globe article complained that decent properties under the $600K mark were hard to come by.

Adding a more urban perspective to the mix, it seems that within very close proximity to the city, there are plenty of houses and condos to choose from in neighborhoods like Dorchester. But aside from that neighborhood, a perusal of the real estate ads reveals that in truth, there really aren’t that many affordable houses or condos on the market right now. And by affordable, we mean something like a $350,000 two-bedroom condo with square footage decent enough to accomodate a couple. For that “reasonably-priced” condo, you have to venture to South Boston or Brighton, maybe, and even then, there just aren’t that many choices. In fact, choices don’t seem to improve until you hit the $700K-$800K mark.

Will all this change as the Spring market heats up, and all those people who really want to sell finally knuckle under? We can’t say for sure, because there are a number of arguments both for and against this scenario, so we’ll just have to wait and see. Stay tuned.

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Le’s Delivers Tasty Vietnamese Without Breaking the Bank

Where do you go for a full top-to-bottom meal — appetizers, beer, wine and entree included — for less than $20 a pop?

Head over to the bustling Le’s Restaurant in Allston Village (there’s also one in Harvard Square and Chestnut Hill) and you’ll find your palate pleased, your stomach sated, and your wallet not much thinner for the wear.

In fact, you’re apt to be so pleased by what you find that you’ll be back again and again.

Le’s Restaurant has been around for years, and was formerly known as Pho Pasteur. Over the years, it has become a local fixture among fans of Vietnamese food. And what’s so great about Le’s? How about rich noodle soups from North Vietnam that are pleasantly filling yet never weigh you down. A vast array of fresh vegetables and seafood dishes from central Vietnam are delicately spicy and still thrillingly exotic.  There are also delectable fish dishes from the Mekong Delta region of Vietnam. And one of the nicest things about eating at Le’s: after chowing down on a huge bowl of grilled meat vermicelli (one of our favorites dishes) you’ll find yourself full but not uncomfortably stuffed the way we’ve often felt after meals at other restaurants. Le’s restaurant is a great healthy way of eating out. It’s large dining room is great for groups, and there’s usually not much of a wait for tables. If you’ve still got room after dinner, we recommend one of the delicious fruit shakes or Vietnamese iced coffees as dessert.

137 Brighton Ave
(between Harvard Ave & Linden St)
Allston, MA 02134
(617) 783-2340

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