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      Agent Spotlight

      About Michael

      Executive Vice President of Gibson Sotheby's International Realty, Michael Carucci has been one of the most trusted names in the Boston real estate market for more than 30 years.

      Michael is one of Boston's highest producing agents and is consistently ranked in the top 1% in sales volume for the Greater Boston area. He is a recognized expert in the residential and commercial Boston real estate market and is regularly quoted in articles, appearing in the Boston Globe, Boston Herald, Boston Business Journal, and Banker & Tradesman. He is also a contributing editor for Boston Common Magazine...

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      Michael's Testimonials

      Working with Michael is always a pleasure. Whether on a residential sale or purchase, or a larger multi-family or retail transaction, you know that your interests are being looked after by one of [...]

      "Michael is a star broker. By that, I mean he brings buyers and sellers together and makes deals happen. Both parties leave the closing table happy. He knows everybody and everybody knows him. [...]

      Michael has an exceptional ability to uncover opportunities in an otherwise very competitive market. His follow through and execution make all the difference.

      Michael Carucci's knowledge, advice, and guidance of the property market is extraordinary. Coupled with Michael's genuine concern for the welfare of the family in a stressful [...]

      Michael did a great job closing the deal for us per my specific requests. He is very responsive - he always picks up the phone when I call him. I highly recommend him.

      "What sets Michael apart from other brokers is his attitude that the job doesn't stop when the ink dries on the closing papers. He was a tremendous help when my family and [...]

      Michael is knowledgable, patient, and professional. If you’re considering a sale or purchase, I recommend Michael Carucci.

      Michael represented me on both the sale of my home and the purchase of a new one that better suited my family. Michael’s execution was flawless and I would highly recommend him for any of [...]

      Chuck Hinds

      National Fire Prevention Week

      This week is National Fire Prevention Week and according to the United States Fire Administration, cooking is the main cause of fire and fire related injuries in the home. With a just a few simple tips, awareness and reminders, you can protect your family, your home, your community and help lower this tragic statistic.

      1. Keep an eye on what you fry: Be extra vigilant when frying food. Most cooking fires start from frying food and according to the 2013 Massachusetts Burn Injury Report, "Almost 1/2 of All Burn Victims Never Come Near a Flame - Scalds from cooking liquids and grease, hot liquids, tap water, food and steam caused 47% of the 432 burn injuries reported..."

      2. Be an alert cook: Stay awake; Don't leave your kitchen; Keep small children and animals away from stove;

      3. Know what to do if a pan goes on fire; NEVER move it; Turn off flame and cover it until cool; NEVER add water.

      4. If it's something in the oven - Turn off the oven and DO NOT open the door.

      Thank you to the Boston Fire Department for spreading the word.

      For more information about fire prevention in the home, you can visit:

      https://www.usfa.fema.gov/downloads/fief/fief_outreach_guide.pdf andnfpa https://www.nfpa.org/safety-information/for-consumers

      National Fire Prevention Week

      This week is National Fire Prevention Week and according to the United States Fire Administration, cooking is the main cause of fire and fire related injuries in the home. With a just a few simple tips, awareness and reminders, you can protect your family, your home, your community and help lower this tragic statistic.

      1. Keep an eye on what you fry: Be extra vigilant when frying food. Most cooking fires start from frying food and according to the 2013 Massachusetts Burn InjuryReport, "Almost 1/2 of All Burn Victims Never Come Near a Flame - Scalds from cooking liquids and grease, hot liquids, tap water, food and steam caused 47% of the 432 burn injuries reported..."

      2. Be an alert cook: Stay awake; Don't leave your kitchen; Keep small children and animals away from stove;

      3. Know what to do if a pan goes on fire; NEVER move it; Turn off flame and cover it until cool; NEVER add water.

      4. If it's something in the oven - Turn off the oven and DO NOT open the door.

      Thank you to the Boston Fire Department for spreading the word.

      For more information about fire prevention in the home, you can visit:

      http://www.usfa.fema.gov/downloads/fief/fief_outreach_guide.pdf andnfpa http://www.nfpa.org/safety-information/for-consumers

      Day For The Ducks in Boston

      It's a good day for the ducks in Boston (in the weather department that is), but Monday is certainly looking better! According to Boston.com, Boston Duck Tours turns 20 years old and to celebrate they are discounting their tickets from $35.00 to $20.00 for one day only on Monday, October 6th! That's a lot of crackers! And according to the Boston weather report it will be a beautiful, sunny day for leaf peeping and touring the gorgeous, historical City of Boston. Tickets are limited, so shake your tail feathers and get quacking.

      http://www.boston.com/travel/boston/2014/10/03/snag-duck-tour-monday/fVvfEO5A0TwFadLzfh9MTP/story.html

      Day For The Ducks in Boston

      It's a good day for the ducks in Boston (in the weather department that is), but Monday is certainly looking better! According to Boston.com, Boston Duck Tours turns 20 years old and to celebrate they are discounting their tickets from $35.00 to $20.00 for one day only on Monday, October 6th! That's a lot of crackers! And according to the Boston weather report it will be a beautiful, sunny day for leaf peeping and touring the gorgeous, historical City of Boston. Tickets are limited, so shake your tail feathers and get quacking.

      http://www.boston.com/travel/boston/2014/10/03/snag-duck-tour-monday/fVvfEO5A0TwFadLzfh9MTP/story.html

      Prices of Single Family Homes in Boston's Suburbs Soaring

      Bay State home prices are on a winning streak the struggling Sox can only dream about right now.

      The median price of a single-family home in Massachusetts edged up 1.7 percent in July, hitting $355,000. That marks the 22nd straight month in which prices headed up, not down, over the previous year, The Warren Group, publisher of Banker & Tradesman, reports this morning.

      A shortage of listings and a reviving economy are pushing prices up, even as the dearth of choices for buyers puts a dent in overall home sales, which fell 2.3 percent in July. (Condos followed the same pattern, with the median price rising 8.6 percent, to $315,000, while sales fell 6.7 percent.)

      And as prices increase, the median home price in a number of affordable mainstays in suburbs across Greater Boston are now nearing or surging past the $400,000 mark, Warren Group numbers show.

      Just take Medford, Franklin and Norwood, a trio of nice but no-frills middle class towns.

      Just to the north of Boston, Medford's median price is now $420,000 while Norwood has reached $387,000. Prices in both towns have shot up more than 9 percent so far this year.

      Out on 495, the median home prices in Franklin hit $415,200 during the first seven months of the year, up nearly 17 percent over 2013, Warren Group numbers show.

      Meanwhile, other towns are also lining up to join the $400,000-plus club.

      The median price of a house in Danvers is now $380,000 after a nearly 9 percent jump so far this year, while Dedham and Mansfield are both a step closer, at $390,000. (Dedham has long been a starter community for young home buyers.)

      Down on the South Shore, Hanover just passed the $450,000 market after a 15 percent jump in home prices.

      Honorable mentions to Stoneham and Shrewsbury, with both towns heading towards the $400,000s as well.

       

      Courtesy Scott Van Voorhis and Boston.com

      Prices of Single Family Homes in Boston's Suburbs Soaring

      Bay State home prices are on a winning streak the struggling Sox can only dream about right now.

      The median price of a single-family home in Massachusetts edged up 1.7 percent in July, hitting $355,000. That marks the 22nd straight month in which prices headed up, not down, over the previous year, The Warren Group, publisher of Banker & Tradesman, reports this morning.

      A shortage of listings and a reviving economy are pushing prices up, even as the dearth of choices for buyers puts a dent in overall home sales, which fell 2.3 percent in July. (Condos followed the same pattern, with the median price rising 8.6 percent, to $315,000, while sales fell 6.7 percent.)

      And as prices increase, the median home price in a number of affordable mainstays in suburbs across Greater Boston are now nearing or surging past the $400,000 mark, Warren Group numbers show.

      Just take Medford, Franklin and Norwood, a trio of nice but no-frills middle class towns.

      Just to the north of Boston, Medford's median price is now $420,000 while Norwood has reached $387,000. Prices in both towns have shot up more than 9 percent so far this year.

      Out on 495, the median home prices in Franklin hit $415,200 during the first seven months of the year, up nearly 17 percent over 2013, Warren Group numbers show.

      Meanwhile, other towns are also lining up to join the $400,000-plus club.

      The median price of a house in Danvers is now $380,000 after a nearly 9 percent jump so far this year, while Dedham and Mansfield are both a step closer, at $390,000. (Dedham has long been a starter community for young home buyers.)

      Down on the South Shore, Hanover just passed the $450,000 market after a 15 percent jump in home prices.

      Honorable mentions to Stoneham and Shrewsbury, with both towns heading towards the $400,000s as well.

      Courtesy Scott Van Voorhis and Boston.com

      Right Now: Five Trends Dominating Boston Housing Market

      It's a deceptively simple question: What's driving Boston's housing market, both the rental and for-sale sides, right this second? The short answer is low supply and high demand. There's more to it, though. Thus! We run down the five trends driving the city's residential real estate. For now, the first of the five trends...

      Low Inventory Our numbers guru David Bates was the first to the party on this trend and has stayed with it ever since. Basically, there are way too few condos and single-family homes to satiate demand in Boston. Moreover, there is relatively little on the for-sale horizon development-wise. Also! The city's poor planning over the last several decades hasn't helped matters nor has Boston's legendary aversion to height and density in its downtown areas.

      Lots of New Luxury Apartments There is a silver lining in the storm cloud that is Boston's dearth of new for-sale development, and it comes at the expense of its luxury apartment market. In short, there are a lot of luxury apartments going up in the city, maybe too many. It's taking some new complexes a long time and all sorts of tenant sweeteners to fill their units. Some luxury rental towers, then, have pivoted to condos, opening up that much more for-sale inventory.

      Bidding Wars Still, what little new condo development there is in Boston is not nearly enough to satisfy that demand. (And, frankly, this holds true for the rental development as well.) So those in the market for condos in particular often show up at open houses with garbage bags full of cash or some other ready financing, prepared to go above and beyond what sellers want. Yes, bidding wars are a common feature of many condo sales across the city; perhaps even most. These bidding wars lead to super-fast sales and to our next trend.

      Over-Asks The redoubtable Mr. Bates has also been all over this one: Lots of Boston buyers offering lots over what condos (and single-families) are asking. It's not only that this over-ask trend drives up prices that much more; it's that the, um, coverage of such over-asks drives up the hype and hysteria surrounding the Boston housing market. The vibrancy ofBoston real estate is a very real thing, don't get us wrong; we just wonder how much of it is a self-perpetuating cycle and how much is really the invisible hand doing its thing.

      Tougher Lending Even though mortgage rates remain cartoonishly low, lending terms remain tougher than they were before the last bubble burst in 2007 and 2008. Simply put, it's harder to get a home loan; and harder to get one on terms that will allow for victory in a Boston bidding war. This keeps more Bostonians in the rental market, which, in turn, dries up the inventory in that real estate sector; which, in turn, ensures that rents escalate along with sales prices. Vicious cycle, this.

      But! The Federal Reserve has signaled a gradual rise in rates through 2015. This will make it more expensive to borrow money for a mortgage, which could dampen the fervor of Boston buyers (of U.S. buyers in general). That will mean fewer bidding wars, fewer over-asks, more tenants instead of owners (sorry, apartment-hunters), and, ultimately, fewer sellers, as homes are taken off the market or never put on in the first place as prices come down amid this flagging demand. Or at least that's the scenario. Starting next year.

      How We Can Help

      Most of these factors have been driving the Boston housing market for decades. At Group Boston Real Estate, our experienced, knowledgeable agents know how to navigate these muddy waters. Our close relationships with other real estate brokers and mortgage originators ensure you'll get the home you desire under the terms you desire.

       

      Courtesy of Tom Acitelli and Curbed.Boston

      Right Now: Five Trends Dominating Boston Housing Market

      It's a deceptively simple question: What's driving Boston's housing market, both the rental and for-sale sides, right this second? The short answer is low supply and high demand. There's more to it, though. Thus! We run down the five trends driving the city's residential real estate. For now, the first of the five trends...

      Low Inventory Our numbers guru David Bates was the first to the party on this trend and has stayed with it ever since. Basically, there are way too few condos and single-family homes to satiate demand in Boston. Moreover, there is relatively little on the for-sale horizon development-wise. Also! The city's poor planning over the last several decades hasn't helped matters nor has Boston's legendary aversion to height and density in its downtown areas.

      Lots of New Luxury Apartments There is a silver lining in the storm cloud that is Boston's dearth of new for-sale development, and it comes at the expense of its luxury apartment market. In short, there are a lot of luxury apartments going up in the city, maybe too many. It's taking some new complexes a long time and all sorts of tenant sweeteners to fill their units. Some luxury rental towers, then, have pivoted to condos, opening up that much more for-sale inventory.

      Bidding Wars Still, what little new condo development there is in Boston is not nearly enough to satisfy that demand. (And, frankly, this holds true for the rental development as well.) So those in the market for condos in particular often show up at open houses with garbage bags full of cash or some other ready financing, prepared to go above and beyond what sellers want. Yes, bidding wars are a common feature of many condo sales across the city; perhaps even most. These bidding wars lead to super-fast sales and to our next trend.

      Over-Asks The redoubtable Mr. Bates has also been all over this one: Lots of Boston buyers offering lots over what condos (and single-families) are asking. It's not only that this over-ask trend drives up prices that much more; it's that the, um, coverage of such over-asks drives up the hype and hysteria surrounding the Boston housing market. The vibrancy ofBoston real estate is a very real thing, don't get us wrong; we just wonder how much of it is a self-perpetuating cycle and how much is really the invisible hand doing its thing.

      Tougher Lending Even though mortgage rates remain cartoonishly low, lending terms remain tougher than they were before the last bubble burst in 2007 and 2008. Simply put, it's harder to get a home loan; and harder to get one on terms that will allow for victory in a Boston bidding war. This keeps more Bostonians in the rental market, which, in turn, dries up the inventory in that real estate sector; which, in turn, ensures that rents escalate along with sales prices. Vicious cycle, this.

      But! The Federal Reserve has signaled a gradual rise in rates through 2015. This will make it more expensive to borrow money for a mortgage, which could dampen the fervor of Boston buyers (of U.S. buyers in general). That will mean fewer bidding wars, fewer over-asks, more tenants instead of owners (sorry, apartment-hunters), and, ultimately, fewer sellers, as homes are taken off the market or never put on in the first place as prices come down amid this flagging demand. Or at least that's the scenario. Starting next year.

      How We Can Help

      Most of these factors have been driving the Boston housing market for decades. At Group Boston Real Estate,ourexperienced, knowledgeable agentsknow how to navigate these muddy waters. Our close relationships with other real estate brokers and mortgage originators ensure you'll get the home you desire under the terms you desire.

      Courtesy of Tom Acitelli and Curbed.Boston

      Homeownership Among 20- and 30-somethings at Low As Educations Costs Soar

      According to Boston.com, Harvard's Joint Center for Housing Studies just came out with its annual report housing market.

      The homeownership rate for those in their 20s and early 30s plunged 8 percent over the past decade. Meanwhile, in a separate section, the Harvard report notes that student debt levels have gone through the roof.In fact, number of young adults stuck paying off $50,000 or more in student loans has tripled over the past decade, the Harvard study finds.

      Here's more from the Harvard report:

      Between 2001 and 2010, the share of households aged 25-34 with student loan debt soared from 26 percent to 39 percent, with the median amount rising from $10,000 to $15,000 in real terms. Within this group, the share with at least $50,000 in student debt more than tripled from 5 percent to 16 percent. For these borrowers, the need to pay off these outsized loans will likely delay any move to homeownership.

      The net cost of college jumped 10.5 percent to nearly $30,000 a year since the Great Recession, the Globe reports. That's the amount most families pay after aid and grants are factored in.

      And of course, home prices and college tuition are soaring even as wages stumble along in neutral.

      With that in mind, if you're a 20- or 30-something looking to purchase your first home in Boston, you'll want to consult a professional at Group Boston Real Estate. We can help you find a neighborhood that suits your needs, a home that fits your criteria, and fit all of that in a budget that won't break the bank.

       

      Homeownership Among 20- and 30-somethings at Low As Educations Costs Soar

      According to Boston.com, Harvard's Joint Center for Housing Studies just came out with itsannual reporthousing market.

      The homeownership rate for those in their 20s and early 30s plunged 8 percent over the past decade. Meanwhile, in a separate section, the Harvard report notes that student debt levels have gone through the roof.In fact, number of young adults stuck paying off $50,000 or more in student loans has tripled over the past decade, the Harvard study finds.

      Here's more from the Harvard report:

      Between 2001 and 2010, the share of households aged 25-34 with student loan debt soared from 26 percent to 39 percent, with the median amount rising from $10,000 to $15,000 in real terms. Within this group, the share with at least $50,000 in student debt more than tripled from 5 percent to 16 percent. For these borrowers, the need to pay off these outsized loans will likely delay any move to homeownership.

      The net cost of college jumped 10.5 percent to nearly $30,000 a year since the Great Recession, the Globe reports. That's the amount most families pay after aid and grants are factored in.

      And of course, home prices and college tuition are soaring even as wages stumble along in neutral.

      With that in mind, if you're a 20- or 30-something looking to purchase your first home in Boston, you'll want to consult a professional at Group Boston Real Estate. We can help you find a neighborhood that suits your needs, a home that fits your criteria, and fit all of that in a budget that won't break the bank.