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Archive for August, 2011

Five Mass. Towns Named Best Places To Live

Tuesday, August 16th, 2011

Do you live in Milton, Sharon, Acton, Chelmsford or Easton? All five were named in CNN Money’s top 100 list of America’s best small towns to live in.

Milton, which rang in at No. 2 – right after Louisville, Colo. – allows its residents to live on tree-lined streets that are dotted with historic homes, according to CNN Money. Perks of living in the top-rated Bay State town include the school system which offers a French immersion program that starts in elementary school. The average price of a single-family home in Milton as of June was nearly $455,000, according to records obtained by The Warren Group, publisher of Banker & Tradesman. For a condo, you’d be shelling out around $372,000.

The No. 11 ranked Sharon is a popular summer destination and perfect for those with nautical tendencies. Single-family homes in Sharon run around $400,000 and condos fetch $390,000.

Acton, which comes in at No. 16, is full of historic homes and Revolutionary War landmarks. You’ll spend $455,000 for a single-family in this New England town and around $263,000 for a condo.

CNN Money calls Chelmsford, ranked No. 28, “a well-preserved historic town that doesn’t cost an arm and a leg.” Single-family homes cost around $300,000 in this small town, and condos will run you about $202,000.

The last Bay State town to make the list, Easton at No. 43, is densely populated but knows how to preserve its opens spaces. Prepare to pay $345,000 for single-family home here and $178,000 for a condo.

Boston Makes The Grade For Investment-Worthy College Towns

Wednesday, August 10th, 2011

While there probably aren’t a lot of people out there right now looking to purchase an investment property, you still might be interested to know that Boston has topped Move Inc.’s list of best college towns to invest in real estate.

Apparently, the Boston/Cambridge area is so good for investment properties because of all the college students that invade every September. Once you buy your place, just rent it out. Anyone who’s ever looked for a place to live in this area, me included, knows how competitive the rental market can be.

“In Cambridge and some of the Boston-proper neighborhoods, we’ve been seeing rents rising with demand and projections of further increases of up to 25 percent,” Boston-area RE/MAX Destiny broker/owner Paul Turcotte said.

The median list prices in the Boston/Cambridge market was $335,000 as of June and the more than 50 colleges in the area lead to the high renter demand. Average rental rates ranged from $3,122 for a two-bedroom to $3,913 for a three- or more bedroom unit.

According to Move Inc., in the next two years, real estate investors are expected to outnumber traditional homebuyers in their local markets by three to one and more than half of those plan to put their investments to work as rental properties.

What other towns made Move Inc.’s top five list? Nashville, Chicago, Washington, D.C. and Houston.