Looks like Boston.com has added some graphics to their article, Year’s end lifts sales of condos in Boston, and is recycling it on the landing page of their Real Estate section for SuperBowl weekend. Glad that visibility gives The Real Estate Cafe the opportunity to highlight the “Super price reductions” — $1 million dollars or more — in Back Bay and Beacon Hill. Couldn’t agree more with one luxury real estate agent who told the Boston Globe:
“…he expects the high-end market’s rebound to be a slow process.
‘Properties $1 million or more are going to see pretty high discounts’’ for some time…’ “
As we Tweeted yesterday, there have been 485 MLS listings in Back Bay and Beacon Hill priced over $1.5 million dollars since the meltdown on Wall Street, September 26, 2008. Twenty-two of those listings have reduced their original asking price by more than $1 million, including three price reductions of $4 million or more.
One of those $4M markdowns — 20 Brimmer St. — is using an auction, an “unorthodox route in hopes of creating a sense of urgency among unmotivated buyers” to generate a “price point” on March 3, 2010. Prudent luxury home buyers, homeowners and real estate agents across Back Bay and Beacon Hill, if not the nation, will be watching. If you’d prefer to sit on the sidelines, and bargain hunt before or after what may become a media circus, we’d be glad to take you on a walking tour of Million Dollar Markdowns in Back Bay or Beacon Hill.
Send us an email if you’d like to take a walking tour — online or off — of Million Dollar Markdowns in Back Bay and Beacon Hill.
PS. We’ve been using Valentine’s Day to track the “Sweetest Deals” in the most expensive zip codes in Greater Boston on and off since 2003, and would be glad to take you on a tour of Million Dollar Markdowns in suburban communities as well.