Do ADUs add value? This is one of the most common questions Massachusetts homeowners and investors ask when considering an accessory dwelling unit. A detached backyard Accessory Dwelling Unit (often called an ADU or an in-law apartment) can provide extra living space or rental income for homeowners. ADUs may be internal (within an existing house), […]
Despite a decade of strong growth from 2011 to 2021, the Boston real estate market is showing signs of a significant slowdown. While the national market boomed due to low interest rates, Boston’s price growth has lagged far behind. The primary cause is a major shift in migration patterns driven by the work-from-home movement: more
Written in 2019, this article explains that Boston’s severe housing affordability crisis, driven by high demand and soaring rents, has sparked a passionate debate about reintroducing rent control, a policy Massachusetts outlawed in 1994. Proponents see it as a solution to protect residents from being priced out, but opponents argue it would discourage property maintenance
Written in mid-2019, this article forecasts that the U.S. housing market, after years of rapid price growth, would begin to cool down heading into 2020. While strong fundamentals like low mortgage rates, low unemployment, and a wave of Millennial buyers were supporting the market, the primary challenge was a widespread affordability crisis in major cities.
Green features like solar panels demonstrably add value to properties, primarily through long-term energy savings and tax incentives. However, this value is often not reflected in an appraisal. This discrepancy occurs because appraisers rely on comparable sales, and there is often a lack of “green” comps in the market. Additionally, some appraisers lack specialized training
In a stabilizing real estate market, a formal appraisal is a critical tool for income property investors to evaluate their equity position and decide on the most profitable exit strategy. While investors can get a rough estimate of value using the Income Approach (NOI / Cap Rate), a professional appraisal provides the certainty needed to
Since 2015, Boston has repeatedly tried to pass “just cause eviction” laws to protect tenants amid soaring rents and redevelopment, but these efforts have consistently failed in the state legislature due to strong opposition from landlords who view them as a first step toward reenacting rent control (which was banned in MA in 1994). The
In 2019, New England’s real estate market was defined by a high cost of living and strong job growth, particularly in the life sciences and tech sectors in Massachusetts and New Hampshire. While this boosted the economy, it also (along with rising interest rates) slowed single-family home sales and increased demand for rental properties. Key
Eminent domain (also called “condemnation”) is the government’s legal power, granted by the U.S. 5th Amendment, to take private property for public use, provided they pay “just compensation” (fair market value). Unlike 44 other states, Massachusetts law remains broad and allows the controversial practice of taking for private development (“urban renewal”). Appraisers play a critical,
Appraising properties with short-term rental (STR) potential (like Airbnb) is complex. The appraiser’s first and most crucial step is to determine if the STR use is legally permissible as the “Highest and Best Use,” which is increasingly difficult due to strict new regulations in places like Boston (which only allows owner-occupants). If the use is
