MLS Searches

MLS has some great features for agents and buyers. MLSPIN, Massachusetts' Multiple Listing Service, has upgraded their system over the past 10 years with some powerful tools. The most useful tool (aside from being able to view all properties on the market) is the Client tool. This tool allows agents to input a client's email address and criteria and every morning the clients receive a list of new and moving properties that fit their criteria. It is great, it saves us time and it allows the client to log in and search the listings as well.

Here is the caveat. MLS is just a big database and it follows all database rules. The #1 rule of databases is "garbage in-garbage out." And it seems to me that there is more and more garbage these days. My biggest pet peeve is agents listing their properties without identifying the neighborhood/area. More and more properties are being listed as just "Boston" instead of "Boston:Dorchester." This is sloppy and evident of an agent unfamiliar with the area or MLS. Either of which is bad news for sellers and buyers.

Here's why. Because there are so many properties on the market, in the client tool, an agent will set them up to send only properties in the area they are interested in. So if your property is listed as "Boston" and not "Boston:Dorchester" my clients do not receive your property in the email, we may only see it after driving by and seeing it.

Here's some numbers to help you understand:
MLS Condos in Boston - 2443
MLS Condos in Boston:Dorchester - 323
With 323 condos just in Dorchester and thousands in all of Boston, how do we even know your listing exists if you don't identify the neighborhood, don't participate in the Broker tour or don't send emails to local brokers?

I see this mistake quite often from the entry only FSBO listings and out-of-town brokers.

New Commercial Listing

Nadine Fallon | Just In Boston Properties | http://www.justinboston.com | 617-413-9688 Warren Ave, Brockton, MA Money Maker! Retail/Commercial offered at $1,995,000 Year Built 1890 Sq Footage 4,066 Floors 3 Parking Unspecified Lot Size 7,405 sqft Maint $0 per month DESCRIPTION Well-respected boarding house located in downtown Brockton. This building generates great income. Perfect for 1031 exchange. Professional manager on-site and willing to stay aboard or help transition. Financials available after showing. see additional photos below ADDITIONAL PHOTOS Seller contact info: Nadine Fallon Just In Boston Properties | http://www.justinboston.com 617-413-9688 For sale by agent/broker Equal Opportunity Housing Posted: Jun 28, 2008, 6:56am PDT

Thank you Facebook

If you're reading this blog, I am going to make the leap and assume that you are savvy with social networking on the internet. You know, Myspace, Facebook, Linkedin and I am sure there are a myriad of others. In fact, I hear David Hasslehoff is looking to create a social networking site too!

Anywho, I just received a listing from a contact on Facebook. The contact, Donna Tocci, was a co-worker of mine at Ingersoll Rand. She was the Marketing Manager and is the inspiration to our blog here at Just In Boston. This week she transitions into her new role as Director of Web/New Media at Ingersoll Rand.

Congratulations to Donna on her new job and it is so apropos that my first listing from Facebook be through her!

Check out our Blog's inspiration.

Sunday June 22nd, Open Houses

19 Bellflower #2, Dorchester, MA 2:15-4 PM
5A Mt. Vernon Street, Dorchester, MA 2:15-4PM
40 Upham Ave, Dorchester, MA 12-2PM
63 Wachusett St. #1, Jamaica Plain, MA 1-2PM

There might be some late additions to this list too, so check out our website.
Cheers!

Market Condo Stats from MLS

It's been a while since I had some time to do some number crunching on Excel. Here are the stats by neighborhood in Dorchester for sold condos in the past 90 days (what most would consider the spring market).

Area	Orig Price	List Price	Sale Price	Days on Market	# of Transactions
Jones Hill Average	$ 519,900	$ 434,900	$ 428,000	366	1
Lower Mills Average	$ 317,967	$ 307,967	$ 282,333	104	3
Popes Hill Average	$ 307,543	$ 293,700	$ 278,357	73	7
Pleasant St Average	$ 268,780	$ 260,580	$ 255,991	222	5
Savin Hill Average	$ 260,777	$ 255,469	$ 255,769	83	13
Cedar Grove Average	$ 249,000	$ 249,000	$ 247,000	23	1
Adams Village Average	$ 257,450	$ 256,750	$ 242,500	167	2
Ashmont Average	$ 262,633	$ 249,300	$ 241,378	107	9
Port Norfolk Average	$ 259,900	$ 259,900	$ 240,000	37	1
Fields Corner Average	$ 247,651	$ 229,154	$ 220,778	97	9
Columbia/Quincy Average	$ 223,583	$ 204,672	$ 199,072	199	6
Hancock Average	$ 208,475	$ 186,475	$ 176,000	58	4
Neponset Average	$ 192,450	$ 176,950	$ 172,625	52	2
Bowdoin Geneva Average	$ 169,900	$ 169,900	$ 170,000	34	1
Meetinghouse Hill Average	$ 238,950	$ 167,400	$ 148,250	372	2
St. Mark's Average	$ 161,950	$ 161,950	$ 146,000	108	2
West Dorchester Average	$ 147,355	$ 137,745	$ 129,633	59	20
Total Average	$ 232,455	$ 219,074	$ 210,849	106	88

Big Brother

While the thought of anyone in the world being able to punch a few keys and get an instant view of your home might be a little scary. It is also a great new tool for buyers and renters. You can check out a neighborhood from the comfort of your home.

Google Maps-Streetview has finally mapped all of Dorchester. The images are a little dated. I looked at my house and our office and noticed things that were there last fall. I figure the images were taken in late September of 2007.

When the going gets tough...

The tough go rental. That's right, two big condo developments in Dorchester decided to throw in the towel and rent the units instead of selling them. After trying to sell with poor results, the Carruth (formerly marketed by At Home Real Estate) and the Schoolhouse (formerly marketed by Coldwell Banker) have changed gears and are now offering their units for rent. They will make very nice rental units by the way.

Our newest employee

It's been a crazy week at Just In Boston. We added some new furniture to our office and added a new document center! It scans, faxes, copies and prints. With this, we can now do all of our marketing in-house!

Check out our new Ricoh MP C2000!

Go Green, go Dorchester

There has been quite a bit of buzz surrounding building green and living green on TV, the internet and various print sources. And I'd like to take the opportunity to point out that living in Dorchester (or any other urban community) is one of the most green things you can do.
Here is why:

• Typically, urban homes are smaller and are less expensive to heat, furnish, cool, power etc...
• You can walk, bike or take mass-transit to work, shop, play, eat etc...
• Renovation of older construction uses less resources than new construction.

So, go green, go Dorchester, save money and save the planet.

Don't get ticketed or towed!

Boston Street Sweeping Reminder Service

I manage to earn a collection of tickets from street sweeping every spring, summer and fall. Living in the city it is just a fact of life and I factor in about 1 ticket per month into my budget. Now, Boston has a email reminder service for street sweeping, street-by-street. Maybe with this I can cut it down to 1 ticket every 2 months!

Taste of the market…

Here are the Multi-Family Closed Market Stats for Jan-May 2008 in Dorchester.

Enjoy!

Price Range	# of Listings	Ave Days on Market	Ave Sale Price	Ave List Price	Sale:List Ratio	Ave Orig Price	Sale:Orig Ratio
$0 - $49,999	0	0	$0	$0	0	$0	0
$50,000 - $99,999	0	0	$0	$0	0	$0	0
$100,000 - $149,999	2	10	$123,000	$118,900	103	$118,900	103
$150,000 - $199,999	9	145	$177,156	$187,422	95	$237,278	78
$200,000 - $249,999	24	192	$233,279	$247,731	95	$316,515	79
$250,000 - $299,999	20	120	$266,133	$283,715	95	$320,770	85
$300,000 - $349,999	21	122	$317,186	$339,976	94	$382,776	84
$350,000 - $399,999	12	165	$368,458	$395,717	94	$427,458	87
$400,000 - $449,999	10	128	$412,800	$441,880	93	$463,470	89
$450,000 - $499,999	5	107	$461,000	$499,500	93	$515,700	90
$500,000 - $599,999	3	39	$548,333	$553,267	99	$556,600	99
$600,000 - $699,999	1	600	$645,000	$650,000	99	$699,000	92
$700,000 - $799,999	0	0	$0	$0	0	$0	0
$800,000 - $899,999	0	0	$0	$0	0	$0	0
$900,000 - $999,999	0	0	$0	$0	0	$0	0
$1,000,000 - $1,499,999	0	0	$0	$0	0	$0	0
$1,500,000 - $1,999,999	0	0	$0	$0	0	$0	0
$2,000,000 - $2,499,999	0	0	$0	$0	0	$0	0
$2,500,000 - $2,999,999	0	0	$0	$0	0	$0	0
$3,000,000 - $3,999,999	0	0	$0	$0	0	$0	0
$4,000,000 - $4,999,999	0	0	$0	$0	0	$0	0
$5,000,000 - $9,999,999	0	0	$0	$0	0	$0	0
$10,000,000 - $99,999,999	0	0	$0	$0	0	$0	0
Total Properties	107	Avg. 144	$304,366	$323,913	95	$365,746	85
Lowest Price: $101,000
Highest Price: $645,000
Total Market Volume: $32,567,160
Median Price: $290,000
Average Price: $304,366