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style trends

Ten Hot Housing Trends For 2015

Below is a great post by Mike Wheatley of RealtyBiz. Emerging trends include specialized storage, charging stations, porcelain floors, quartzite counters and more – an interesting rundown on design trends we will see in 2015.

 Ten Hot Trends For 2015

This time of the year, we hear from just about every sector of the economy what’s expected to be popular in the coming year. Foodies with their fingers on the pulse of the restaurant industry and hot TV chefs will tell us to say goodbye to beet-and-goat cheese salad and hello roasted cauliflower, and there’s no end to the gadgets touted as the next big thing.

In real estate, however, trends typically come slowly, often well after they appear in commercial spaces and fashion. And though they may entice buyers and sellers, remind them that trends are just that—a change in direction that may captivate, go mainstream, then disappear (though some will gain momentum and remain as classics). Which way they’ll go is hard to predict, but here are a few trends that experts expect to draw great appeal this year

Coral shades

A blast of a new color is often the easiest change for sellers to make, offering the biggest bang for their buck. Sherwin-Williams says Coral Reef (#6606) is 2015’s color of the year because it reflects the country’s optimism about the future. “We have a brighter outlook now that we’re out of the recession. But this isn’t a bravado color; it’s more youthful, yet still sophisticated,” says Jackie Jordan, the company’s director of color marketing. She suggests using it outside or on an accent wall. Pair it with crisp white, gray, or similar saturations of lilac, green, and violet.

Open spaces go mainstream

An open floor plan may feel like old hat, but it’s becoming a wish beyond the young hipster demographic, so you’ll increasingly see this layout in traditional condo buildings and single-family suburban homes in 2015. The reason? After the kitchen became the home’s hub, the next step was to remove all walls for greater togetherness. Design experts at Nurzia Construction Corp. recommend going a step further and adding windows to better meld indoors and outdoors.

Off-the-shelf plans

Buyers who don’t want to spend time or money for a custom house have another option. House plan companies offer myriad blueprints to modify for site, code, budget, and climate conditions, says James Roche, whose Houseplans.com firm has 40,000 choices. There are lots of companies to consider, but the best bets are ones that are updating layouts for today’s wish lists—open-plan living, multiple master suites, greater energy efficiency, and smaller footprints for downsizers (in fact, Roche says, their plans’ average now is 2,300 square feet, versus 3,500 a few years ago). Many builders will accept these outsiders’ plans, though they may charge to adapt them

Freestanding tubs

Freestanding tubs may conjure images of Victorian-era opulence, but the newest iteration from companies like Kohler shows a cool sculptural hand. One caveat: Some may find it hard to climb in and out. These tubs complement other bathroom trends: open wall niches and single wash basins, since two people rarely use the room simultaneously.

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photo credit: Rev Stan via photopin cc

Quartzite

While granite still appeals, quartzite is becoming the new hot contender, thanks to its reputation as a natural stone that’s virtually indestructible. It also more closely resembles the most luxe classic—marble—without the drawbacks of staining easily. Quartzite is moving ahead of last year’s favorite, quartz, which is also tough but is manmade.

Porcelain floors

If you’re going to go with imitation wood, porcelain will be your 2015 go-to. It’s less expensive and wears as well as or better than the real thing, says architect Stephen Alton. Porcelain can be found in traditional small tiles or long, linear planks. It’s also available in numerous colors and textures, including popular one-color combos with slight variations for a hint of differentiation. Good places to use this material are high-traffic rooms, hallways, and areas exposed to moisture.

Almost Jetson-ready

Prices have come down for technologies such as web-controlled security cameras and motion sensors for pets. Newer models are also easier to install and operate since many are powered by batteries, rather than requiring an electrician to rewire an entire house, says Bob Cooper at Zonoff, which offers a software platform that allows multiple smart devices to communicate with each other. “You no longer have to worry about different standards,” Cooper says.

Charging stations

With the size of electronic devices shrinking and the proliferation of Wi-Fi, demand for large desks and separate home office is waning. However, home owners still need a dedicated space for charging devices, and the most popular locations are a corner of a kitchen, entrance from the garage, and the mud room. In some two-story Lexington Homes plans, a niche is set aside on a landing everyone passes by daily.

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photo credit: the tartanpodcast via photopin cc

Wellness systems

Builders are now addressing environmental and health concerns with holistic solutions, such as heat recovery ventilation systems that filter air continuously and use little energy, says real estate developer Gregory Malin of Troon Pacific. Other new ways to improve healthfulness include lighting systems that utilize sunshine, swimming pools that eschew chlorine and salt by featuring a second adjacent pool with plants and gravel that cleanse water, and edible gardens starring ingredients such as curly blue kale.

Special storage

The new buzzword is “specialized storage,” placed right where it’s needed. “Home owners want everything to have its place,” says designer Jennifer Adams. More home owners are increasingly willing to pare the dimensions of a second or third bedroom in order to gain a suitably sized walk-in closet in their master bedroom, Alton says. In a kitchen, it may mean a “super pantry”—a butler’s pantry on steroids with prep space, open storage, secondary appliances, and even a room for wrapping gifts. “It minimizes clutter in the main kitchen,” says architect Fred Wilson of Morgante-Wilson.

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analytics general info

Provincetown Sale Of The Week

Three bedrooms and three baths freestanding condo.

12 Conwell Street #A  recently sold for $568K. It is a three bedroom three bathroom freestanding condo with 1,364 square feet. Conwell Street is in the center of town, and the condo is 1 1/2 blocks to the bay.

 

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MLS COPY: Stand alone condo that lives like a single family home. Dramatic reverse floor plan has entertainment size living room with hardwood floors vaulted ceilings and a wall of windows with views to the Provincetown Monument. Chefs kitchen with 6 burner gas stove, large granite island. Storage area/pantry and a powder room directly off the kitchen. Large private deck with Monument views. All 3 bedrooms have great closets and multiple window exposures. En suite master bath as well as a built in office nook. Second full bath and a large storage/laundry/mud room on the bedroom level. Central A/C, and quality window treatments throughout. Fenced front yard and garden. 2 Parking spaces. Lives large and fun. 1 1/2 blocks to bay beaches, steps to Farland and downtown. Great rental income.

 

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See all available properties at Beachfront-Realty.com.

Categories
analytics

The Goode and Farmer Report January 2015

PROVINCETOWN

With the start of 2015 we would like to wish you all a wonderful, happy and prosperous New Year. We also want to thank our many friends and associates for sending those many referrals our way. They are much appreciated.

In 2014 higher prices, increasing values, strong buyer demand, and continuing low interest rates made the year an outstanding one. For buyers, sellers and investors there seemed to be a healthy balance between a buyers and sellers market as inventory is generally balanced with buyer demand. That balance may change in 2015 as we are not seeing the anticipated increase in inventory that the market is craving.

Year-end sales in Provincetown were strong with condos continuing to lead the market. The median sale price of condos sold in Provincetown increased 10% to $428K from $389K. The number of condo sales recorded in MLS were 21% higher this year than last year’s 150 sales. Sales volume increased by a 23% to $69M. The average sale price of condos increased 3% to $466K. The average price per square foot of condos sold in all price ranges was $560 per square foot. The condo mid market continues to move up from the $400K to $600K range to the $500K to $700K range.

Condo inventory as of December 31 is low with only 74 available with an average asking price of $551K and an average price per square foot of $620.

The median price of single-family homes was $840K down 5% from $887K in 2013. The average price of single-family properties sold was $1.03M, similar to last years $1.02M. There were 38 single-family sales, which is down 21%. Total sales volume was $39M down from $49M. We continue to feel that these softer single-family numbers are being caused by a lack of inventory and the strong demand for condos. The average price per square foot of single-family properties sold was $486psf.

The $1M plus single-family market remains slower with12 sales and $21M in sales volume compared to 19 sales last year with a volume of $29M.

There are 46 single-family properties on the market with an average price of $1.521M and an average price per square foot of $584.

Inventory in all categories is quite low and will begin to effect sales and prices unless more properties become available. Buyers are feeling confident and will continue investing in second homes and investment properties if there are enough choices available and if mortgage rates stay low.

 

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TRURO AND WELLFLEET

The single-family home market in Truro and Wellfleet is strong. Sales have seen remarkable increases partly due to a lack of inventory and the high average price of homes in Provincetown.

Truro fared well with the average median sales price for single-family properties increasing 25% to $670K from $538K in 2013.

The average sale price was up a whopping 34% to $798K. In stark contrast sales were down 8% to 44 sales this year. There are currently 63 single-family properties on the market with a median price of $825K.

Wellfleet turned in a strong performance with a 21% increase in sales to 85 units from 70 last year. The median sales price of single-family properties sold was up 5% to $505K from $481K last year. The average sale price increased 6% to $566K. Wellfleet remains predominantly a single-family sales market. There are currently 32 single-family properties on the market with a median price of $587K.

 

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Our advice remains consistent. Positive buyer and seller attitudes coupled with a continuation of relatively low mortgage rates (30-year-fixed rates are averaging 3.875%) and an improving economy bode well for 2015 being a great year to jump into the market. Buyers are feeling confident enough to buy second homes and the rental market is so strong that rental income can make buying that second home or investment property so much easier.

Please call or stop in if you are thinking of buying a home or selling your existing home, or if you are just curious to see what your home is worth. Our business philosophy has always been that the best-informed buyers and sellers are the most satisfied with their results. And that’s what we do best.

Categories
style

Boston’s Best New Building?

Great post from Curbed.com.  Don’t you just love John Keiths comments on The Troy?  Enjoy!

What Was Greater Boston’s Best New Building of 2014?

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[315 on A]
Paul McMorrowBoston Globe op-ed columnist and CommonWealth magazine associate editor: There are so many! The Burnham building on the Filene’s block is obviously the best thing to happen downtown in forever. Sasaki’s Ferdinand building looks incredible and it’s getting private developers to take a look at a neighborhood they’ve been ignoring for decades. ADD Inc.’s 315 A Street manages the neat trick of being on the waterfront without looking like a glass box that snuck in from Houston. The Lawn on D is not technically a building, but it has swings and ping-pong tables and Wi-Fi so it wins everything.
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Lara Gordona broker in Cambridge and Somerville: Could it be anything OTHER THAN Millennium Place? Speaking not from an architectural or design perspective, but purely for its contribution to the Downtown Crossing renaissance.

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[Troy Boston]
John A. Keitha Boston broker: I’d have to go with the Troy, ready for occupancy in early 2015, purely for the huge balls the developer must have, building a 400-unit apartment building across the street from New England’s largest homeless shelter (and a Mobil station) and, literally, in the shadow of an eight-lane interstate highway. I also like the new 100 Pier 4 apartment building in the SBW Seaport neighborhood, also to be delivered (late) 1st Quarter 2015. Perhaps a step up from the existing Waterside Place down the street, 100 Pier 4 is the first building to be completed in the Pier 4 mixed-use development. It has the best views of the new residential buildings in the neighborhood and is the closest (so far) to downtown Boston. Of course, neither of these were completed in 2014, so may not qualify as “Best of 2014”.
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Charles Cherneya broker in Cambridge and Somerville: If only there were new condo buildings in Cambridge and Somerville.
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Jonathan Berk, real estate attorney, founder of the BuildingBOS blog and member of Boston’s Onein3 Council: My wink goes to Ink; Ink Block by National Development: Ink Block will be opening in the coming few days and will serve not only as it’s own self contained live, play environment but will also spur growth and redevelopment of the Harrison Ave and Washington Street corridors. It will provide the South End the necessary connection between Downtown, South Boston and the South End. Game-changing retail activation (Including a 50,000SF Whole Foods) coupled with a pool, outdoor BBQ’s, grass courtyard will make Ink a catalyst for necessary neighborhood reinvestment and a destination unto itself.
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[Millennium Tower on the Boston skyline; Handel Architects]
Nick Warrenpresident and CEO of Warren Residential: Millennium Tower … by far. I don’t know if it officially qualifies for 2014 since it currently only has a few floors of concrete and rebar’ but it’s certainly the most exciting. There has never been a building in Boston that has received so much buzz and attention like Millennium Tower has. From their $37.5M PH to the amount of units they put under agreement right out of the gate, it truly stands out against its competition.
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David Batesa Boston broker and our Bates By the Numbers columnist: 315 on A – the building located in a cool area that is getting cooler. It’s green and sustainable construction. The developers put a lot of thought into the features and amenities, like the best bike storage room in the city, the indoor pet refuse area, the conference rooms, the on-site art. Plus, the rooftop common area is among the best amenities I have seen.

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general info

New Provincetown Retail Shops For Rent

Gorgeous Retail Shops For Rent. Prime Proven Location.

 

For those of you who have wanted a business in Provincetown or to expand your current business by adding another location…these two new shops at WA provide the perfect opportunity.

 

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The shops at WA, at 220 Commercial Street will be ready for occupancy in early spring. Both spaces have architecturally significant interiors with hardwood floors, recessed lighting, granite display counters, 16 foot vaulted ceilings, central air, heat and wireless. These spaces provide the best opportunities for interior display options and retail success with terrific retail flow, back office/storage space and easy access for deliveries – on the best block of Commercial Street.

 

 

Both spaces are approximately 1,600 square feet with 1000 square feet of retail space and 500-600 square feet of back office, and storage space.

These are full 12 month leases with year round income potential. $75,000 includes heat, AC and electric.

 

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To view floor plans click on WA floor plans.

This property is also available for sale for $1.350M.

Call or email for more details. Jon Goode 617-512-8565.

 

Categories
architecture style

Tiniest Cape Cod Microhomes – Curbed.com

Fun post by Jazmine at Curbed.com.

Meet the 10 Tiniest Cape Cod Microhomes of 2014

Time to make up a bunch of awards for the best, worst and most absurd things that happened in Cape & Islands real estate, architecture and neighborhoods. Here now, your 2014 Curbed Awards.
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It’s time to squeeze into Cape Cod’s tiniest listings of 2014. From a wicked wee 162-square-feet to a rather roomy 296-square-feet, here are 10 microhomes that will no doubt cause a shudder amongst claustrophobics, micro-living haters and/or McMansion lovers.

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Kicking off in Truro, this cute 296-square-foot cottage condo with expansion potential (boo!) was listed for $249,000.

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Currently a lovely little cottage, this Chatham “investment property”has “growth opportunity” to add a two-bedroom rental. The 288-square-footer hit the market asking $299,000 and is now hoping for $274,000.

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Water views, access to a private beach on Cape Cod Bay and 272-sq.-ft.were looking for $199,000 in Truro.

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Breakfast in bed is available in this wicked tiny, as in 252-sq-ft., West Yarmouth cottage condo for $79,900.

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Behold, beachy micro-living overlooking Cape Cod Bay. This adorable250-sq.-ft. cottage condo at Truro’s Sutton Place was asking $299,000

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Located next to Truro Vineyards (!!), this 234-sq.-ft. studio condo – with the smallest kitchen sink ever – hit the market in early May for $99,000 and by the end of the month, had sold for $92,000. Cheers!

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When we wrote about this Commercial Street condo back in March, the198-square-footer had been pricechopped down to $219,900. By June, a buyer had squeezed into the place for $196,000.

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Built in 1900, this “sweet attached cottage, known as Cormorant offers a piece of increasingly rare old Provincetown charm.” The asking price for the 186-square-footer is $245,000.

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This 182-sq.-ft. West Yarmouth cottage lacks a full bathroom, but at least there’s an outdoor shower with hot and cold. Asking price is now$89,000.

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Finally, to the tiniest cottage for sale on Cape Cod. The wee West Yarmouth abode, all 162-sq.-ft., is yours for $69,900.

Categories
trends

Real Estate Trends That Defined 2014

Below is an rundown of real estate trends we saw in 2014 and a look forward to what we might see in 2015. This post provides a terrific national overview that is meaningful for our local markets as well.

The year 2014 saw a steady build-up of housing momentum that is expected to carry the market into 2015 gains, according to a realtor.com® report released today.

The 2014 Housing Review points to significant improvements in the U.S. economy overall and low mortgage rates as fueling the housing market. However, there are also factors that continue to hold back a recovery, including tight credit restrictions and a limited supply of homes for sale.

“The strong outlook for 2015 is based in part on the improvements and momentum experienced by the economy and housing in the second half of 2014,” said Jonathan Smoke, realtor.com®’s chief economist. “With several key factors turning strongly positive, 2014 was a turning point and sets the stage for a stronger recovery in 2015.”

Here are the top 10 trends of the past year, with five indications of growth and five limiting factors.

Realtor.com®’s Top 10 Real Estate Trends of 2014

Indicators of a stronger housing recovery

1. Improving economic fundamentals: After an especially harsh winter, the economy picked up steam this spring and produced a banner year for new jobs. The GDP this year was higher and is still trending higher, resulting in stronger consumer confidence.

2. Historically low mortgage rates continued: Mortgage rates declined despite the end this year of quantitative easing, a monetary policy intended to stimulate the economy. Global weakness, along with actions by the European Central Bank and central banks in Asia, kept our Federal Reserve from raising the Federal Fund Rate, which kept mortgage rates low.

3. Return to normal price appreciation: After two years of abnormally high levels of home price appreciation in 2012 and 2013, price increases moderated throughout 2014. We are now experiencing increases in home prices consistent with long-term historical performance.

4. Decline of distressed sales: Foreclosures and short sales declined throughout the year, and while total home sales decreased year over year, normal (non-distressed) home sales increased over 2013. Foreclosure inventories also fell substantially and are forecasted to be down 30% year over year at the close of 2014.

5. End of the era of major investors active in purchases: Related to the drop in distressed sales opportunities, and against a backdrop of higher home prices, portfolios of single-family homes for rent may have reached their peak this year. Large-scale investor purchase activity in the single-family market sector continued to decline, leaving more room for traditional first-time buyers.

However, we still have a ways to go back to normality.

“Despite the positives, several factors were far from normal this year,” Smoke said. “The limiting factors held back demand and even supply in 2014, but economic gains and late 2014 government housing policy actions brighten the potential for even more positive change in 2015.”

Factors holding back recovery

1. Tight credit standards: Despite historically low rates, many households were prevented from capitalizing on mortgage access because of overlays lenders added to qualification standards in order to limit their risk. As a result, mortgage credit availability did not improve in 2014.

2. Limited inventory: While absolute inventories increased as the year progressed, supply did not outpace demand. Monthly supply of new homes and existing homes remained beneath normal levels, and the age of inventory was down year over year.

3. Depressed levels of first-time buyers: The share of first-time buyers fell to the lowest level in more than 20 years, according to the National Association of REALTORS®. “But the first-time buyer share is showing signs of modest improvement by the year-end,” said Lawrence Yun, NAR Chief Economist. Federal policy actions, such as revised regulations for lenders and new low down-payment programs introduced in December are anticipated to have a positive impact in 2015.

4. Record levels of renters and ever-increasing rent prices: Continued declines in homeownership rates resulted in record numbers of renting households. Rent increases became an inflationary concern this year, and looking ahead, the pace of these increases is not slowing down.

5. Lack of recovery in homebuilding and low share of new home sales: Single-family starts barely increased in 2014 over 2013. New home sales remain far from normal share levels – typically near 16%, they are now around 9%. New home prices increased substantially again this year, revealing that higher priced product is limiting the demand.