LRG Boston Real Estate Blog

Joshua A. Golden - Luxury Residential Group

In today’s Boston Herald, in an article titled, “Mass. housing sales up,but Hub condos plunge“, written by Thomas Grillo, Joshua Golden, Founder of Luxury Residential Group, was quoted as saying:

“I have people who want to buy, but they refuse to overpay,” said Joshua A. Golden, a principal at Luxury Residential Group in Boston. “Unless they can get up to 30 percent off the original list price, they’re not budging.”

Joshua’s Take: I did indeed say that we have strong buyers currently looking in the high end Boston condo market.  However, the article implies that, unless sellers negotiate 30% off their prices, my buyers are not making the jump. What I actually said was “In some instances, my buyers are only willing to purchase IF they feel they are getting a great deal, 15-30% off original asking prices”. I used the example of The Bryant Auction, which ended up selling at about 70 cents on the dollar. That said, we are seeing prices drop across the board on luxury condos in Boston.   Whether it be in the form of a motivated seller, significant price drop, or an auction, there are some great deals out there.  You should always hire a good buyer’s agent. Someone who has extensive knowledge of the Boston condo market, as well as strong relationships with cooperating brokers throughout the city. We are paid by the seller and responsible for negotiating, assisting you with the process and looking out for your best interests.