BosGuy

Last week The Boston Globe created a highly unscientific but still fun survey to take that then suggests the neighborhood best suited to your personality.  Surprisingly, I got Beacon Hill.  I had thought I might be more likely to get the Leather District, Fort Point Channel or Seaport (if not my actual n’hood – The South End). While I do like Beacon Hill, I’m not inclined to spend time on the Boston Common or dine on Charles Street, as the response suggests.  Bored at work? Give the survey a try.

Boston is a beautiful city that is rich in history and culture and has a lot to offer.  Above is a photograph of my neighborhood, South End, from last spring looking down West Springfield Street with the Christian Science Church dome off in the distance in Back Bay.

The Steven Cohen Team, a South End Real Estate Specialist, recently shared their annual report and I found some of the information  eye-opening.  It made me feel for new residents or wanna-be residents who are doing their best to try and save to buy a place here in Boston.

Source: http://www.linksmart.co, CNBC, 2012 data.

You may click on the chart to enlarge and read it better. I have to admit I was surprised to read that my neighborhood, South End, median price per square foot is $710 (fourth most expensive neighborhood in Boston). The most expensive neighborhood according to linksmart is Midtown $880; followed by Back Bay $836; Beacon Hill $795; and The Waterfront rounded out the top 5 at $708.

With median condo prices in the South End at $650,000, a 20% down payment check would be $130,000. Anyone who doesn’t think that is an issue falls into the category of “very fortunate”.  How can Boston work to ensure that those who have invested in property don’t lose value in their homes while working to help make this city more affordable and more welcoming for everyone; not only those who command 6-figure salaries?