Watertown, MA Real Estate News

By Mark Madden, The Madden Team
(Century 21 Commonwealth)
 The other night I stopped in at The Comfort Restaurant and Bar located at 5 Spring Street in Watertown. The restaurant is a special place tucked away from the main street, so it is little known to the passerby. It is located on the 2nd floor of the building above the restaurant Molana. I decided to stop in, after meaning to do so for quite some time. I was impressed from my first glance at the restaurant. It is well laid out with an upper level of tables for restaurant eating and then a lower level with a bar and a few tables as well. The bar itself probably seats 10 or so patrons and their beer, wine and specialty drink menu leaves nothing to be desired. I had read about the 3 Cheese Mac & Cheese online, but figured that I would check out the menu before deciding what to order. The ow...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
I have been working hard to bring you the most important market statistics from town to town and decided to spruce up my presentation. Below are the market statistics for Multi-Family Homes and Condominium Homes in Watertown, Massachusetts between January 1, 2008 and August 28, 2008. As you can se, the condominium market is booming with 180 sales year-to-date and more to come in the next few months. Currently there are 75 condominiums on the market in Watertown ranging in price from $179,900 to $1,180,000 in price. If you are interested in learning more about the housing opportunities in Watertown please contact me at mark@smarthomesboston.com
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
Overview The Village Condominiums is complex of 308 condominiums in Watertown. The Village is bound by Lexington Street, Belmont Street and Duff Street, including Pierce Road and Grant Avenue. The condominiums were constructed in 1940, so overtime they have all added their own interior touches. For the most part each unit comes with 1 deeded parking space. Units & Pricing There are a range of units size and layouts,but most units are around 1,300 square feet with 2-3 levels of living space (depending on a finished basement). For the most part, the units have 2 bedrooms and 1 bath on the 2nd level. The first level has a kitchen and open living room/dining room combination. I have included the most recent sales prices for each size condominium. The monthly condominium fees is $250. The co...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
It's time for my Monday morning Know Your Market - Watertown, MA post. As you can see, weekly there are some big changes in the Watertown market. This is why I pull market statistics on a weekly basis in order to "stay on top" of the current market. It is also why I pull the market statistics for every community because all real estate is local and ever-changing. Since my last posting on Watertown, there has been a steady increase in sold properties in each category: single families, condominiums and multi families. Single family sales have risen from 34 sales to 43 sales, Condominiums have risen from 103 sales to 156 sales, and Multi Families have risen from 24 sales to 32 sales. There is good news for sellers since my last Watertown Market Statistics post, because there has been a dec...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
Just days after my post, The Pleasant Street Corridor - What's Your Vision, the Watertown Tab ran an article: Rules for Watertown's Pleasant Street allow seven-story buildings, prohibit chain stores. The Watertown Town Councilors voted to institute these rules for development along this industrial stretch of road because as District C Councilor Vincent Piccirilli said, "This should not be a bedroom community lined with Repton Places. We need to build a multi-use neighborhood, and to do that you need density." Here are the new development guidelines for Pleasant Street: Define the character of the corridor Facilitate a mix of uses including residential, office, research and development, hotel, retail, etc. Improve the quality of life Develop at an appropriate scale and size Increase real...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
I spent the Fourth of July with my family in Washington D.C. visiting the home of my oldest brother Matt, his wife Trish, my nephew Colin and my other nephew Fenway (who happens to be a dog). While I was there we made brief trip over to Clarendon to do some shopping and eating. I came away impressed with this great area of mixed uses; shopping, eating and living all intertwined as one. After arriving back in Watertown, I began to think of how and where something of this sort (but definitely not of it's magnitude) could fit in Watertown. I needed to look no further than the distressed and dismantled Haartz Mason building on Pleasant Street. What was one a flourishing waterproof industrial textile manufacturer is now an eyesore which is frequented by teenagers trying to escape the eyes of...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
This weekend I decided to pull the market statistics for Watertown, Massachusetts again in order to show the difference a couple of weeks can make. As you can see, in just a couple of week we have had some big changes in the Watertown market. This is why I pull market statistics on a weekly basis in order to "stay on top" of the current market. It is also why I pull the market statistics for every community because all real estate is local and ever-changing. Since my last posting on Watertown, there has been a big increase in sold condominium properties. They have risen from 86 sales year-to-date up to 103 sales... a 120% increase. In the 19 days since my last Watertown market statistics post there have been 17 sales, nearly a condominium sale every day. That is great! (For clarificatio...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
I have a lot of friends, family and clients asking what certain people could afford for what they pay now in rent. The beauty of my job is showing people how they can achieve the "American Dream" of homeownership for what they currently pay in rent. My real estate calculator can help us through the process and I created an example of a looking for a home in Watertown, MA. I used the following criteria to figure out the Rent -> Buy calculation: 30-Year Loan Term 6.28% Interest Rate (Today's National Average) 10% Down Payment 11.39% Property Tax (Watertown's 2008 Property Tax Rate) .35% for the Home Insurance Rate 28% for the Tax Bracket (Check out this link to see your Tax Bracket) $1,250 for the Monthly Rent Here is what I found through my calculations: Someone paying $1,250 a month wit...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
A few weeks ago I went to Grappa on Elm Street in Watertown, MA. This is a great little Italian restaurant where you would least expect it, basically behind the Target at the "Watertown Mall." I spent a semester abroad in Rome while I was in college and was immediately drawn to getting my two favorite dishes: Insalate Caprese and the Carbonara. They did not disappoint. The food was delicious and the service was great. It reminded me of being in a restaurant in Rome. The best restaurants are found tucked away, off the main roads, they are small and fit in many tables. The food comes out at a slower pace, because you are supposed to savor and enjoy the food rather than the typical eat and run American style. I would highly recommend this restaurant for a special occasion or for my "foodie...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
Last night was the Relay for Life in Watertown, MA and the Century 21 Commonwealth team participated in this great event for a great cause. While I was walking around 1:30 am I kept rounding the corner and seeing this great set of luminaries that spelled out the word "Hope." It is just such a powerful thing to see. A track lined with luminaries showing the names of loved ones that have either won or lost their battle with cancer can bring one back to reality really quick. However, there is hope. We can all hope for a cure so that this terrible disease will no longer affect family, friends and coworkers. Sometimes, a step back from real estate is so necessary to see the bigger scope of life and put things in perspective. As a team, The Century 21 Commonwealth group raised $2,325. As a wh...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
Overview The Hamilton Place is complex of 3 connected buildings in Watertown, within walking distance to Watertown Square. It is located at 32 White Avenue. The buildings were built in 1966 but were almost all renovated in 2004. The complex is bound by Main Street and Whites Avenue. In total there are 137 units, each with one deeded parking space in the back. Units & Pricing Of the 137 units, 130 are owner occupied (95%). There are a range of units size and layouts. Below is the Belmont unit style, which has a large open living and dining room area. There are also studios, another 1 bedroom layout and 2-bedrooms. I have included the most recent sales prices for each size condominium. Studio -- $182,000 on June 12, 2008 One Bedroom -- $215,000 on April 5, 2008 Two Bedroom -- $292,500 on ...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
In an effort to be knowledgeable of our current market I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton and Waltham. Below are the market statistics in Watertown for Single Families, Condominiums and Multi-Families. As you can see, from last year to this year there has been minimal change in sales price for single family homes. Condominium sales have had a slight increase in sales price, but a drop in total number of units sold. Our Multi-Family sales are slightly skewed because my company, CENTURY 21 Commonwealth, sold an apartment complex for over 2 million dollars this year. All in all, the market here in Watertown has not had a severe drop in sales price between last year and this year as the news media would like the consumers to believe. I will continue...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
Overview The Chatham Condominium is an 8-building complex located in West Watertown. The buildings, which were built in 1957, are bound by Warren Street, Lexington Street and Carey Avenue. In total there are 110 units, each with deeded parking spaces. Units & Pricing Of the 110 units there is a 75% owner occupancy rate. The units are all of equal size, but over the years have varied in terms of upgrades which creates a difference in sales points. The units have 600 square feet of living area with an open kitchen and living room, a large bedroom, a smaller bedroom and a bathroom. The average sales price over the last 10 years has ranged from $92,900 in 1998 to $228,750 in 2005. 1998 - Average Sales Price: $92,900   (5 units sold) 1999 - Average Sales Price: $112,600 (11 units sold) 2000...
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Anthony Lamacchia and John McGeough are at it again!!! This is just another example of the McGeough Lamacchia Team's VERY AGGRESSIVE ADVERTISING which will draw in more home buyers and sellers!!!!!  This is a huge benefit to our sellers because it will drive more traffic to our website http://www.troublefreehomesale.com/ & http://www.soldin70days.com/!  These websites already receive thousands of hits everyday!!!!!  Our growth will continue at steady pace through this real estate down turn.  To see this billboard on the street drive down Main St in Watertown toward Watertown Square and you will see it just after the set of lights at the intersection of Waverley Ave, directly across from the Mobil gas station, next to the Whitney towers and not far from local restaurants such as "Not you...
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Watertown, MA...only minutes from the busy streets of Boston is the new home of Repton Place Condos.  In the heart of thriving Watertown, you'll find the luxury condominiums and lush green spaces of Repton Place. Repton Place sits outside Watertown Square, home to some of the Boston area's great restaurants. Close to major highways and public transportation, Repton Place offers easy and fast access to downtown Boston, Cambridge, and the rest of the metro Boston area. Neighborhood:WatertownStories:4 Units:179 Price Range:$200,000s + Occupancy:June 2007 Sales Center Contact InformationRepton Place Sales Center555 Pleasant StreetWatertown, MARepton will also boast beatiful interior designs by "Best of Boston" Dennis Duffy of Duffy Design Group!  See Repton Place The Movie Now!          I p...
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