Just read an article in the New England Real Estate Journal about the Manchester (NH) School Department purchasing 12,760 sf of office space on the second floor of a professional building in Manchester for $1.7 Million. We are seeing an interesting trend here - with office space prices stabilizing at some great values throughout New England (even in prime areas like Downtown Boston), local municipalities that are strapped for space may see great opportunities to grab up properties that a few years ago would have only been a dream - and to lock in amazing interest rates at the same time.
I took a call yesterday from a group looking at a property just Northwest of Boston that was about to come on the market. We talked about the purchase price and the fact that it made a lot of sense for their local group to purchase the property and turn it in to a youth center (at a purchase price of around $100 a foot, the advantage of buying over renting is clear both on a finance basis and on a logistical basis - giving the youth center a sense of permanence and knowing that the renovations they perform will be benefiting THEIR own property).
In Brookline, a group of people headed by awesome social worker Paul Epstein, completed a multi-year quest by signing a lease on 10,000 sf of space in Brookline to create a local teen center, something the community and students have been dreaming of for years (see article here) With vacancy rates allowing for both tenants and buyers to see some excellent deals in prime locations, it's an ideal time for local individuals or groups to think about projects like this for their community. I'm always happy to help (I have worked with both for-profit and non-profit groups in the past or real estate purchasing and leasing - it is some of my most enjoyable and satisfying work, so don't hesitate to ask!)
For all your real estate needs, locally or anywhere in the U.S., please call Todd at 617-593-5685 or email todd.glaskin@gmail.com or visit www.toddglaskin.com
Tuesday, March 15, 2011
The value of a "pet-friendly" house :)
I loved an article I just read in PetsMatter: March / April 2011 - it talks about a couple falling in love with a home's "ready-made" suitability for their pet. I've never seen as many buyers with pets as I have in the past few months (and as a new dog owner myself, I now understand the condo buyer who insists on only seeing condos that are totally welcoming to pets - if Ruby couldn't live there, we wouldn't look either!)
Just a good thing to think about, especially for my condo owning readers - every association is different in terms of pet policy. I remember a building which required a "pet interview" - yes, the dog had to come to a board meeting, meet the trustees, and stay for a while before being voted on as allowed! I often have sellers tell me their opinions of whether their building should allow pets changes dramatically when it comes THEIR time to sell and they really that anti-pet policies are eliminating a ton of their buyers in towns like Brookline, Brighton, Jamaica Plain and more (just examples of recent towns in which I've had this conversation - I'm sure this happens everywhere). If you live in a condo, check with your management company or your condo docs to see exactly what the pet policy is and, if you're not happy with it, bring it up at an annual meeting (or sooner). You don't have to go all the way to admitting every pet (or a buyer with 6 dogs and 3 cats). I see many buildings with limits on the number of pet, size of pet, requiring pet interviewss or allowing pets subject to the pet not being a nuisance.
For homeonwers looking to sell, take a moment to make sure your yard and fence show well. If you have a doggie door or are for your dog to run, feel free to mention it to your realtor as well. Just a nice thing to know and to highlight.
For all your real estate needs, locally or anywhere in the U.S., please call Todd at 617-593-5685 or email todd.glaskin.com or visit www.toddglaskin.com
Just a good thing to think about, especially for my condo owning readers - every association is different in terms of pet policy. I remember a building which required a "pet interview" - yes, the dog had to come to a board meeting, meet the trustees, and stay for a while before being voted on as allowed! I often have sellers tell me their opinions of whether their building should allow pets changes dramatically when it comes THEIR time to sell and they really that anti-pet policies are eliminating a ton of their buyers in towns like Brookline, Brighton, Jamaica Plain and more (just examples of recent towns in which I've had this conversation - I'm sure this happens everywhere). If you live in a condo, check with your management company or your condo docs to see exactly what the pet policy is and, if you're not happy with it, bring it up at an annual meeting (or sooner). You don't have to go all the way to admitting every pet (or a buyer with 6 dogs and 3 cats). I see many buildings with limits on the number of pet, size of pet, requiring pet interviewss or allowing pets subject to the pet not being a nuisance.
For homeonwers looking to sell, take a moment to make sure your yard and fence show well. If you have a doggie door or are for your dog to run, feel free to mention it to your realtor as well. Just a nice thing to know and to highlight.
For all your real estate needs, locally or anywhere in the U.S., please call Todd at 617-593-5685 or email todd.glaskin.com or visit www.toddglaskin.com
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