Category Archives: Blog Posts
View from 330 Beacon St. A 2.5 Million Dollar View
While on a showing with clients last week , I snapped this picture of the Boston Back Bay and the Hancock Tower. This is a really unique view because there are very few buildings with this perspective. Mostly because you can’t build buildings 17 stories tall on the water anymore, like 330 Beacon. The views were equally fantastic of the Charles, but this view was more unique to me and not prevalent in the back bay with both city and river views this amazing. If you are looking for a property with sprawling views, can spend 2+ million, and don’t mind a gut renovation project….This could be yours.
Amazing Back Bay View
Guest Blog by Brownstone Insurance “Insuring Your Boston Townhouse”
Recently I have come across several questions regarding insurance and master insurane policies regarding townhouses in the Boston Neighborhoods. As a real Estate agent, many times we get asked legal questions, mortgage questions and insurance questions. At the end of the day, we aren’t pro’s in these areas, nor are we licenced, so it’s best we connect ourselves with people who can create the whole package. Since i get these questions often, It sparked an idea to ask Brownstone Insurance to write up a guest blog. I contacted them and Glenn Montgomery the co–founder of Brownstone Insurance was nice enough to write up an entry for www.buyrentsellboston.com
By Glenn Montgomery
Insuring your Boston Townhouse
Boston is a beautiful, historic and exciting place to live. With the multitudes of stately brownstone buildings and other beautiful pieces of architecture that have been lovingly transformed into townhouses, it’s important to make sure you have adequate insurance that can protect your investment in the property as well as personal belongings.
If you are buying a townhouse, brownstone, or triple decker inBoston, you have two options: a homeowners’ policy or a commercial insurance policy. The homeowners’ policy is designed to cover owner-occupied residences that contain up to four units. Most carriers will prefer to insure one and two-family homes. For buildings with two or more units, you can insure them with a commercial package policy. In the end, you will end up with much of the same coverage, just with different terminology.
Basic coverages to look for include:
- Building replacement cost coverage
- Personal property coverage- Your personal property is not attached to the building, therefore it is not covered by your building’s master insurance policy.
- Out building coverage- This covers structures such as sheds and garages.
- Loss of rental coverage- This coverage will provide rent reimbursement after a loss.
- Liability coverage- This is coverage for lawsuits against you.
- Crime coverage- Protection against theft is important.
Not everybody understands the unique nature of the replacement cost of an urban townhouse. Insurance company replacement programs are not enough. The value of the true replacement of the structure could far exceed what you paid, or what the mortgage company or the insurance company require. Be sure to know what it costs to rebuild your townhouse.
Shop around and ask lots of questions. Find a company or agent that understands your needs and the unique nature of your property.
Glenn can be reached at Glenn@brownstoneinsurance.com
South End 1 Bed $1300, January 1
Rental on West Springfield St.
Fall Day on the Esplanade
I went for a walk the other day on the Esplanade. One more reason I love living in the Back Bay.
Boston Esplanade November 8th 2011
Time Lapse Video of the Community Boating Center
Well, its 60 degrees out and i’m thinking this is the last week of this warm weather. I thought I should post something that will make you go out on the esplanade and enjoy this weather.
Enjoy
New Back Bay Condo Auction. 416 Marlborough Street 1 Bed
This November 20th, one condo will be auctioned off at 416 Marlborough Street. The interesting thing here is that this is going to be an online auction not an actual auction in person . It’s more like an Ebay way to buy your next Back Bay 1 bed. Personally, I have not seen this done in downtown Boston, but maybe this is a first. Historically speaking, Back Bay, South End and Beacon Hill properties don’t go up for auctions, nor are there many short sales or foreclosures. This is not a large auction like that of the Bryant, but is a small, one off way of doing it. To be honest, I think its a great way to market a single condo listing that “needs to be sold.” but i wonder how well this will be attended with serious buyers. If it works well, maybe we will see more of this style of sale popping up around Boston.
The Original price of this condo was $525, 000 and has a minimum starting bid of $315,000 and the highlights from the auction website are:
- “Professionally Managed Including 7 Day Concierge
- Historic Bldg Fully Renovated, Modern European-style Interiors
- Beautiful Shared Roof Deck With Panoramic Views
- Updated Kitchen Appliances and In-Unit Washer / Dryer
- Sunny, South Facing Living Room
- In-Building Bike Storage & Fitness Room / Pet Friendly
- Excellent Closet Space Throughout
- Condo Fee is $460″
Do you think this auction Format will catch on in Boston?
If you have any questions regarding this property, feel free to contact me at briggs.johnson@nemoves.com and i can send you a link to the auction site.
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“Why Hire a Lawyer” Guest Blog By Glenn Frank
Recently, I asked my friend Glenn Frank to write a guest blog about legal topics regarding real estate. Since this is my first legal contributor, I thought it would be a good to start from the beginning…..”Why get a lawyer?”
By Glenn Frank 
DO I NEED A LAWYER?
How hard can this be? People buy and sell property every day. Right? What can go wrong?
The answer is: Everything can go wrong and if it does it can cost you a ton of money. To avoid the pitfalls and the potential for catastrophic loss, hire a lawyer. . . a good lawyer who has experience in the field.
Your lawyer’s job will be to answer the questions: Who? What? Why? When? and Where?
Who? So you have identified a house or condominium you want to buy and are about to sign an agreement to pay the largest sum you have ever spent on anything. How do you know the person selling is the person or entity that owns what you are buying? Ask your lawyer. Your lawyer can check the public records. Your lawyer can make sure the person signing has authority to sell. Your lawyer will certify to you that your seller is legitimate. This is not like going to a car dealer and picking a car off the lot? You should know who you’re buying from and that they have the right to sell it to you.
What? Your dream house is beautiful, spacious, and airy and exactly what you want to live in for the next ten years. But lo and behold there are things you can’t see or touch that will destroy your dreams. Unpaid mortgages, tax liens, attachments and other encumbrances aren’t posted on the door when you walk in. Your lawyer knows how to find them and make sure they are removed before you buy. Unless you are interested in paying off the Seller’s debts, hire a lawyer.
Why? Three days after you move in to your dream-house, a representative of the Iroquois Indians shows up and lets you know that pursuant to a treaty executed with the administration of Abraham Lincoln, your property is actually theirs. Casino, here we come. You call your lawyer. Oops, didn’t have one. Too bad, because you could have obtained title insurance when you bought your property (for a very small premium) and if you had the title insurer would be paying you the value of your home when the Casino construction begins. Your lawyer could have explained that to you.
When? You sign an agreement to buy the house you always wanted. Your current lease is up in 30 days. No problem, right. You’ll own the property by then and can move right in? Uh oh, the Seller’s lawyer put eight contingencies in the agreement to delay the closing until the Seller: a.) buys something else to live in; or b.) can resolve the longstanding dispute with his mother-in-law as to who owns the furniture; or c.) feels the time is right, whichever is later. Yikes!!! Where do you live in the interim while the Seller procrastinates? The answer? Good luck finding a cheap hotel. A lawyer would have been less expensive.
Where? Closing? What is a closing? If you had a lawyer they would have told you that you have to meet to sign the papers necessary to transfer ownership from the Seller to you, and that those papers need then to be filed at the Registry of Deeds to be effective. Unfortunately, you’re in the tanning salon when you are supposed to be executing documents at the Seller’s office. Don’t worry though, all that means is the Seller has the right to take your deposit of 20% of the purchase price and is under no further obligation to transfer the property to you. You didn’t need those thousands of dollars anyway right?
CALL A LAWYER? YOU DON’T NEED THE HEADACHES
Glenn is a Partner at Lawson & Weitzen, LLP and please feel free to contact him with any legal questions.
On an unsolicited non-legal side note…. Glenn wrote an fantastic book Abe Gilman’s Ending and I think you you definitely check that out as well!
Most Expensive Condo In Beacon Hill (October 2011)
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