As retail stores have struggled in recent years, malls have become vacant leaving some to wonder what to do with the coveted space in overcrowded cities. One such mall, the CambridgeSide Mall, will get a new life, although it will take many years before the project will be complete. New England Development has reimagined the CambridgeSide Mall into a mixed-use building, and after receiving approval from the Cambridge City Council last week, they will be able to turn the space into office space, residential housing, and street-level retail. To find about more about the project, click here.

Boston's Boom Sparks Rise in Property Values

Ahead of the new year, the Boston Municipal Research Bureau is releasing a five-part series on Boston’s economic boom since 2013. The first report property values have hit a high of $164.5 billion in 2019, which is an increase of 78.4% since 2013. The city’s population has grown about 6% which is about 40,000 people. Rising property values, new construction of all types, the influx of people, and a strong business sector are all part of Boston’s boom. Click here to read more about which neighborhoods have seen the biggest growth in property values.

More New Construction Points to a Strong Housing Market

Multiple data indicators support the notion that the housing market is strong in the final quarter of the year. Housing starts increased 3.8%, single family new construction rose for the fifth straight month, and building permits rose another 5% in October. These numbers, along with more data you can find here, all indicate that the housing market is strong and builders are taking advantage of low interest to increase the housing stock.

Where Is the Housing Market Headed?

New data about the national housing market shows some positive signs that the market is growing steadily again. Prices of existing homes rose 6.2 percent, building permits (an indication of new homes being built) increased 5 percent, and mortgage rates are low at 3.66 percent, according to a recent Fox Business report. See what some experts have to say about these indicators by clicking here.

Spencer Flats Featured in NEREJ

OnPoint Capital’s 8-unit condo project in Chelsea, deemed the “Spencer Flats”, was recently featured in the NEREJ! Click here to read the full article.

Will Boston's Traffic Problem Ever Improve?

“In the last five years in Greater Boston, 59,000 more drivers commuted alone. A study released in February found Boston had the nation’s worst rush-hour traffic,” reported the Boston Globe. An in-depth investigation from the Spotlight Team revealed the many facets causing traffic issues in greater Boston including old and inefficient public transportation options and an annual increase in the number of drivers on the road. On top of that, our politicians have been slow to try much-needed solutions to the traffic problem. So what will the long-term effects be on Boston’s economy and housing? Click here to read more.

Market EvaluationMax TaylorNovember 22, 2019real estate market, Boston, Greater Boston, traffic, traffic congestion, congestion

Is the End of "Off-Market" Listings Near?

The National Association of Realtors (NAR), which oversees 640 multiple listing services across the country, voted this week to require members to list all properties within one day of marketing efforts beginning - a policy effective May 1, 2020. In essence, they are trying to prohibit “off-market” listings. The goal of this is for all buyers to have equal knowledge and access to all the properties that are currently for sale. However, this policy may have unintended consequences for sellers and their agents. For example, agents can no longer start marketing a property while it is undergoing renovations or getting staged and photographed. For more pros and cons of this new policy, check out this article.

Boston Is on the Up and Up

As Bostonians, we can always find things to complain about; weather, traffic, housing prices, and Tom Brady potentially retiring at some point. However, Curbed’s most recent article highlights 10 reasons why the Boston area is only getting better. Check it out here.

The Effects of Falling Mortgage Rates

“Lenders extended $700 billion of home loans in the July-to-September quarter, the most in 14 years, according to industry research group Inside Mortgage Finance,” as was reported in a recent Wall Street Journal article. The authors suggest that the spike in home loans is due to falling mortgage interest rates. Many homeowners have taken advantage of the low rates by refinancing their home loans. In addition, home sales have risen on an annual basis, but not as much as expected, possibly due to the lead time it takes to find and close on a home once someone has decided to take advantage of the low rates and actually buy a home. For more analysis on the causes and effects of falling mortgage rates, click here.

Massachusetts' Dukes County Has Highest Percentage of Vacation Homes in US

You may not find it too surprising that Dukes County, home to both Martha’s Vineyard and Nantucket, has the highest percentage of vacation homes in the country at 55.5%. While the vacation season is short compared to other vacation destinations (think Florida, California, Carolinas), people flock to Nantucket and Martha’s Vineyard for its’ exclusivity and sense of safety. Read more about the real estate market on these special islands by clicking here.

What Do Millionaires Say About Building Wealth Through Real Estate Investing?

Some of the most well-known millionaires (think Barbara Corcoran or Grant Cardone) of our day have accumulated wealth through real estate investing. And even those who accumulated wealth through other means insist that real estate investing is a great way to build wealth. Read exactly what they had to say here.

Yet Another Benefit of Modular Construction

By now many have heard about the use of modular construction to save time and money on projects such as the new Marriott hotel in New York City and McDonald’s locations in the UK. Beyond saving time and money, there is yet another benefit of modular construction over the typical site build - the use of automation. As the number of skilled laborers is decreasing, modular builders are able to take advantage of technology “to automate a variety of construction tasks including nailing, milling of openings, sheet cutting, gluing, inkjet marking, and sheet addition and handling.” Read more about these great benefits here.

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