Ourveryveryf…, Home Seller in Jamaica Plain, MA

How are 2-family and multi-family houses selling in comparison to single family homes in JP?

Asked by Ourveryveryfinehouse, Jamaica Plain, MA Sun Oct 18, 2009

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Multi-families are a hot commodity in JP and surrounding areas this summer (2014). Jamaica Plain continues to attract a wide variety of people with its eclectic mix of great restaurants, pleasant downtown area, and access to green spaces such as Jamaica Pond, the Arnold Arboretum, and Franklin Park. Investors looking for a steady flow of renters understand that JP is an excellent choice. Single family's are also highly sought after properties in JP. The demand for any specific property always depends on a host of factors; accurate pricing, proper staging, and of course location just to name a few. But in general, JP sellers are fortunate to find themselves in an excellent market!
0 votes Thank Flag Link Wed Jul 2, 2014
Two family homes are at a premium because Jamaica Plain let the immediate area in condo conversions. I think we will see the day when families see the value of buying both units in a home to have the lifestyle advantage of extended family living. Single family family property are rarer than condos. They are highly desirable in our urban suburban community. Condos provide an entry into home ownership market for first time home buyers who supply a steady demand. All in all Jamaica Plain is a strong market. Properties that are priced correctly are continuing to sell.

Jan Crosby
Boston Broker
RE/MAX First
617-699-1668
0 votes Thank Flag Link Wed Dec 1, 2010
Hello very very,

I just came across this question and wondered why I didn't receive it earlier.
The multifamily market in Jamaica Plain is very tight, the reason there are not many
on the amrket is because they sell so quickly, we sell them within the fist 2 weeks of
listing them.

Although single families do very well too, we have MANY multifamilies and developers are waiting
to jump on them. A lot of them have been converted into condominiums and when a multi is in a
walkable area, and decent condition, most sellers opt to convert and sell as condominiums.
They make more money, so the small hassle is worth it.

I hope that helps.

Karen McCormack
http://www.KPsells.com
Web Reference: http://www.JP02130.com
0 votes Thank Flag Link Tue Apr 20, 2010
Hello- There are only 2-3 listed multi's for sale now in JP. Not a lot. One just had a major price reduction.
I think JP is a little more of a single family neighborhood/ town than most of Boston. I don't have MLS access, so I can't tell you the exact data and Days on Market, etc.
I think SF's in JP would sell a little faster. There are not a lot of investors who want to pay $550K for a 2 family building, even if the rents make it worth it. Most RE investors I know would rather pay half that in Dorchester- less risk.
If I can help you in any way, please let me know. Thanks, and good luck,

Ken L.
0 votes Thank Flag Link Mon Oct 19, 2009
Investors for real estate have been on the side line. I believe many have been waiting to see the market stabilze somewhat before "jumping back in". Also, financing has been tighter. Although a buyers market is never bad for investors, lenders are more scarce and opportunities for funding are not as abundant as in the past.

Right now the best market moving in our area (South Jersey) has been single family homes under $400,000.
0 votes Thank Flag Link Sun Oct 18, 2009
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