Located in the South End, one of Boston's most trendy and diverse neighborhoods, are The 1850 Lofts at 90 Wareham Street are now set to be auctioned off on June 28th. The units originally were listed between $350K to upwards of $800K. Starting bids on the remaining unsold units are going to be ranging from $175K to $395K, or a 50% or more discount!
I previewed these units on the first day of the pre-auction open house and must say that they were nice. The choice units being on the top floor where the ceilings are anything but average. Some have "bedrooms" in the towers that add a ton of character.
Bidders will be required to bring a $5K cashiers check to the auction and sign the P&S on the spot. Pre-approval for financing is must be completed with the developer's preferred lender and title company, Wells Fargo, who is offering a $750 closing cost credit.
As exciting and advantageous as the prospect of purchasing a unit such as these at auction is, there are many different facets to this procedure - including financing, inspections, bidding and documentation - that are very different from a standard purchase. For this reason, it is recommended, if not imperative that you have an experienced Buyer's agent to guide you. Not suggesting that I hold your hand, but trust me, you will appreciate the assistance. And it costs you nothing. The auctioneer/developer requires that your Buyer's Agent, yours truly, attend your first pre-auction preview of the units. I must also be present during and after your winning bid.
Preview
June 3 - June 27
Open House Daily
90 Wareham Street
Boston, MA 02118
Event
Sunday, June 28
Westin Boston
Waterfront
425 Summer Street
Boston, MA 02210
Call me to schedule an personal escort and showing: 617-230-2370
The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased last week to 5.48%, up from 5.25% the week prior... Thats almost 3/4% pts higher than in mid May! Is this the market or supply and demand? A little of both. Like the cost of gasoline that seams to always go up just when we are about to embark on summer vacation travels, so goes interest rates.
http://www.zillow.com/Mortgage_Rates/
http://rismedia.com/2009-06-09/mortgage-rates-rise-for-second-straight-week/
Wells Fargo denies Short Sale request on the gounds that the seller's credit is too good.... Attorney negotiating on behalf of the seller today informs us that
I spoke with the investor this afternoon and had an unpleasant conversation with a very disagreeable gentleman. In short, the investor will not consider short sale at this time due to seller's credit status and the fact that there has yet to be a significant delinquency on the mortgage.
Go figure! Got good credit, forget it.
Though you have to look closely at the 3rd picture, just above the sink, is notification that this home has been winterized. This is the tale of one sellers need to sell, a listing I initially had as an overpriced market sale (and previously blogged as PU, a problem with cat urine) that later expired, relisted as short sale.. expired, and two years later foreclosed on. The sad thing is it really did not have to go down this way. In the end the home sold for almost $200K off the top. Had the seller only listened to two competent agents suggestions to get the price down, even if it meant taking a loss (going for a short sale), the seller, bank and investors could have made out so much better. In the end, the house that was once a home was disgraced by flyers posted at every turn that "This property has been winterized". Since this listing I have worked a number of short sales, sales where we had to get very aggressive with pricing to prevent a bad deal from getting worst.
I feel sorry for this seller. Her son when off to fight, I sat at her dining table and was fed until I was no longer hungry, but in the end, I was unable to help her realize that her home was just not worth what she needed to clear the note, and that we needed to peruse other options. God bless you D
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Being a Realtor is not something I “do”, it is my full time occupation. I make it a point to listen to your needs and challenges to guide you through the buying or selling process.
The Passion
If you're fortunate, we get to wake up each and every day and do something we love for work. And I think people enjoy working with someone who loves what they do. Helping people reach their goals is a great pleasure in Real Estate.
The Challenge
Boston prides itself on being one of the most livable cities in America. With 20 diverse neighborhoods and dozens of surrounding smaller cities and townships, residents of the Greater Boston area have the opportunity to taste, touch, and experience things from all over the world. Knowing the ins and outs of this diverse region isn't easy. But being able to uncover unique and well-valued properties in our area is an asset to people looking for just the right home.
The Experience
As a professional real estate agent, providing excellent counseling, knowledge and technical know-how throughout the task of buying or selling a home helps everyone relax: Educating clients, attention to detail and communication throughout the transaction process takes out the stress. Rest assured that if I do not know the answer, I would tell you and get it for you. I want to be that agent for you.
Call or email me today to get started buying or selling.
The Education
Real estate is constantly changing and it is not enough to be "experienced". I believe that I must constantly reinvest in my career else risk loosing the loyalty of you, my clients. I attended ERA's eight-week Top Gun Academy where Sales Associates were given the tools and confidence needed to better assist consumers with their real estate needs. Graduated The American School of Mortgage Banking and am a certified mortgage originator working part time with Able Funding.
When it comes to
Real Estate, There is
Just one recipe!
(mix equal parts)
Dependability • Honesty • Knowledge
Professionalism
Superior Service • Team Work • Fun
My focus in Real Estate is with Sellers. Ensuring that their homes receive the utmost in market exposure to both local and out of town buyers.
Arlington | Boston | Cambridge | Malden | Medford | Somerville
Bart Foster
ENTERS TOP GUN ACADEMY
Bart Foster a Sales Associate with ERA The Norton Group has been accepted as a candidate and is currently attending one of the most advanced training programs in the nation. This program is designed to better serve consumers with their real estate needs.
The Training Academy meets one day per week for eight weeks and focuses on understanding the special needs of home owners, how to shorten the average time it takes to sell a home, and new marketing ideas designed to help each property obtain the best possible price.
To graduate from the Academy, participating Sales Associates must complete seven missions, demonstrate their ability to use the new techniques, and exceed minimum standards.
Participants who demonstrate superior skill and knowledge earn their wings and become members of the elite ERA TOP TEAM®. They represent excellence in utilizing marketing programs and services that meet the customers' need in today's demanding market.
It is worth noting that Bart earned his first set of wings the summer of 2005. Recognizing that the current market presents unique challenges, Bart is committing himself once again to this outstanding Academy.
If you, or anyone you know, have any real estate needs in which Bart can assist you, now is an excellent time to call. ERA "Always There for You".
©2007 ERA Franchise Systems, Inc.
Each office independently owned and operated.
I am still quite surprised at the amount of activity you generated during one of the snowiest winters in years. You were always available and responded to our questions and concerns immediately. Your calm and professional demeanor, and knowledge of the market helped us remain calm and optimistic - not an easy task in this economy
V. Grillo
I decided to call each listing agent directly. I gave myself a week to look at every two bedroom condominium in my price range in Cambridge. Every agent was quite personable and interesting; however, Bart was special...
Thanks to Bart's enthusiasm, initiative, dedication, style and skill, my dreams have come true. I hope that you will allow Bart to do the same for you.
S. Vincent
To Whom It May Concern:
Bart Foster, with ERA The Norton Group Realty, was our broker in the sale of our Dartmouth Street 3-family home in Somerville. The entire process was handled with the highest professionalism thanks to the efforts of Bart.
Eliza C. Medeiros.
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