Categories
style trends

Mix Metal and Wood Species To Create Soul

Michael Ferzoco is the principle of Eleven interiors and a contributor to my blog. The post below is a wonderful take on mixing different design elements to create soul.

I was recently asked by a client why I’m not proposing to use the same materials throughout a project.  “Ugh… not again”, I thought.  This question rears its ugly head more often than I care to admit.  As is the case with many people, this client was afraid of mixing different wood grains and finishes on furniture, floors, built-ins etc. in any one room.  I’ve had people question the use of different metal finishes on faucets and light fixtures.  Many people believe that the finishes should be the same… that they should “match”.  I hear things like, “But that doesn’t really match what we’re doing in the other bathroom” or “the wood on the coffee table doesn’t match the wood on the side table” or, my favorite “shouldn’t the bedside tables match?” My answer is always the same…. we never match anything. The magic is in how we mix materials and finishes together to create a space that has soul.


Yes, it’s okay to have zebra wood bedside tables next to a dark walnut headboard and platform bed all of which sits opposite a built-in cabinet that’s has a grey-wash-on-rift cut oak.  Go right ahead and place a vintage chrome finished cocktail table with a glass top in the middle of your living room… the same room that has antique brass sconces on the wall and gun metal black hand-forged hardware on a credenza with a raw steel base.  Of course it’s acceptable – very chic, actually – to use polished nickel faucets with bronze finish towel bars along with patina lighting fixtures in the bathroom.

 

Every room in your home should have a mix of various woods, various metals, glass, stone…. in some manner of combination… not that you have to use all of these elements in one space!  Choose which elements are appropriate for which space and then branch out within that element and employ it in different ways.  If you don’t take the risk of mixing the elements and the finishes, then you risk looking like you have no more insight to interior style than someone who purchases the 8 piece living room set (the phrase makes me cringe) at Bob’s Furniture.  Trust me, I’m not wrong about this….

And when creating a successful space, it’s important to remember that you can continue to add pieces as long as you continue to edit along the way.  The space will feel harmonious when the mix of furniture and accessories, in all their various finishes, are cohesively working together to create a thoughtfully orchestrated room with soul.  It takes time and effort.  It can be a bit of trial and error.  But the results are well worth it.

Categories
analytics

Boston Condo Inventory Down 32%

The supply and demand dynamic is firmly in place in downtown neighborhoods with not enough property for sale relative to buyer demand. Taking all Boston neighborhoods together, condominium inventory is down 32% from the same time last year – from 2,010 properties for sale last year to 1,360 today. In the South End there are 129 condos for sale versus 205 on the market last year at this time,  a 37% decrease.

Linda Ciborowski, a top South End agent with Coldwell Banker Residential Brokerage, sees two very interesting developments as a result of these depressed inventory levels.  Linda says, “Anything that shows well, is in good condition and in a desirable location sells with amazing speed. I’ve noticed two interesting things that make it even more important to be working with a good broker.”

“Brokers who don’t know the market are pricing properties too low based on old comps or too high based on false expectations. Initial pricing just seems more important than ever.”

 “Appraisals have become very difficult since the properties that have closed in the past 6 months don’t reflect the prices that new listings are going under agreement for due to prices being driven up by low inventory.”

In the Back Bay today there are 171 condos on the market compared with 240 last year. That’s a 29% decrease. In South Boston 145 condos are listed for sale compared with 232 last year, a 37% decrease. Reports are that there are not a lot of listings in the pipeline. Hopefully, we will see a surge in listing activity through the end of April and into May.

This low level of inventory poses a few issues for the strengthening real estate market downtown. The first being that inventory is needed to sustain the strong beginning to the spring market. The second is that high demand and low inventory creates what some may consider “irrational exuberance.” I don’t believe it is irrational. These conditions “on the street” have created this excitement… and the excitement is real!  Just ask any buyer who has missed out on a property or talk to any agent who has dealt with 40 people at each of their Sunday open house. It is exciting… and we will keep our eye on the market as we move into May.

Categories
analytics general info

The Goode and Farmer Report – Boston Q1 Update

Excellent news for Boston is that condominium sales rose in the first quarter when compared with last year. All Boston neighborhoods combined saw an 8% increase in sales from 572 last year to 616 this year. Increased sales meant increased dollar volume in most neighborhoods. South Boston leads the way  in percentage increase with a 32% increase from last year to $33M in sales volume. . All Boston neighborhoods combined saw a 5% increase in sales volume from $321M to $338M.

The average sales price for a condo in Back Bay decreased 4% to $1,263K but the number of units sold increased 6% to 72.

On Beacon Hill the average sales price for a condo decreased 10% to $860K but the number of condos sold increased wildly by 30% to 30. Interestingly total days on market decreased by 37% to 114 days versus 180 days last year.

In the South End the number of units sold increased by 21% to 78 condo properties, also a very strong but not surprising increase, given the demand we are seeing in the neighborhood.

As mentioned South Boston saw a 32% increase in sales volume representing 19% increase in sale units. The average sales price increased 8% to $410K from $379K last year. If this were a competition, South Boston takes first place with these numbers… and average days on market decreased by 30% which is yet another indication of the demand for South Boston properties.

In general with sales up everywhere, and inventory still very low, the supply and demand dynamic is firmly in place. We are in the key Spring selling season and inventory is needed to maintain the strong sales pace we have seen so far.

 

 

Categories
analytics general info

The Goode and Farmer Report – Provincetown 1Q2012

The Provincetown market has been relatively stable year over year especially in the context of regional and national volatility being experienced in most markets.

First quarter figures for the Provincetown market are in and are great!  As in Boston the mild winter weather has kept buyers and sellers in the market and sales activity has been very strong. Keep in mind that the first quarter numbers in most markets in the northeast don’t show huge numbers so sampling is relatively small, but when compared with the first quarter last year  condo sales have increased by 40% to 28 properties and single family sales increased 71% from 7 to 12 properties in the first quarter. Not huge numbers but a positive indicator of interest and activity in Provincetown real estate

The average selling price of those condos sold was $405K, up 29% from last years average of $314K. On average it took 262 days to sell these properties, exactly what it took last year. The lowest selling price was $141K and the highest was $829K which was a beautiful 1754 square foot 2 bedroom, 2 bath penthouse in the East End on Commercial Street. (pic to left)

 

 

 

The average selling price of single family homes increased 6% to $807K from $762K     in 2011. Single family  home sales almost doubled from 7 to 12 sales in the first quarter. The lowest selling price was $212,500 for a sweet little  fixer upper home at 217 Bradford Street, and the highest selling price was $1.8M for a fabulous 4 bedroom waterfront home in the far East End on Winston Ave. (pic to left) There were no multi family properties sold in the first quarter.

 

 

There are currently 129 condominiums for sale with an average asking price of $447K. There are 55 single family homes for sale with an average asking price of $1,472K and 14 multi family homes for sale with an average asking price of $1,356K. These figures represent a terrific range of buying opportunities. Inventory is at a fairly balanced level and not necessarily weighted toward a buyers market or sellers market.

As the Outer Cape and Provincetown readies itself for the spring onslaught, meant in a very positive way… we will keep you posted week to week as to real estate activity of interest in Provincetown and on the Outer Cape.

Categories
general info

I Can See The Beach From My New Office

YIKES!!!  I really can see the water from my new office.  Yesterday I officially  started working at Beachfront Realty in Provincetown… marketing and selling real estate. It is great to be starting my new venture while teaming up with Bill Farmer again and joining broker/owner Bob O’Malley. There will be more news to come!

 

Categories
analytics general info trends

The Goode and Farmer Report March 2012

I will be posting regular market reports for Provincetown and Boston on my blog. Here is the first Goode and Farmer Report for year end 2011 with an update for March 2012.