Boston Apartments: Planning To Rent?
The thought of purchasing the Boston apartments for much less than $200,000 back in the course of the boom would have seemed unthinkable. But in an additional example of how the real estate downturn is now starting to hit even the top tier neighborhoods and towns, the developers of the 1850, a loft complicated from the South End, plan to place over half their gadgets up for auction on June 28.
And yes, the minimum bid for some units will commence below $200,000, really $175,000 to be exact. The public sale phenomenon has been sweeping the region, with developers making use of these one-day sales extravaganzas to unload huge blocks of unsold gadgets in new condo projects. Ironically, the trend got its start off using the public sale of dozens of products at the Folio in downtown Boston almost three years ago. But right after that big splash, the auction concept in no way caught fire here, even as developers in cities across the nation latched onto the strategy to cut their losses and move unsold devices.
Still, a lot has happened in the course of those many years, with even the seemingly when impregnable downtown Boston apartments industry finally seeing both prices and revenue fall. So there you could have it, Boston apartments are offered at unheard rates. If you're planning to rent, do it soon. And be certain to make use of a rental organization that works.