13 Responses to “Ocean Club sales going strong, 4-6 units under agreement, each month” »»

1. Mike
   Comment by Mike | 10/26/07 at 1:18 pm

   $500-700

   per square foot in REVERE?? I guess these units must have similar finishes and amenities as the

   top luxury condos in Boston. Also, a 20 min T ride to govt center isn’t too bad. It also offers

   what the downtown condos don’t — beachfront views. The community must also be isolated from its

   surroundings, to give its residents an air of superiority. I wonder if they have their own private

   section of the beach too…

2. Fever
   Comment by Fever | 10/26/07 at 2:21 pm

   Word on the street is that the Ocean Club is sucking wind and can’t get permanent construction

   financing. In light of all the problems in the housing market how many of the “agreements�

   will actually turn into “buyers� when the real deposits are required? They’ve been running

   full page ads since the summer of 2006 you’d think by now there would actually be construction

   workers at the site. This is just more evidence that if you want the “real� story regarding

   what’s going the last person to ask is the developer, followed closely by anything written in MLS

   or by the NAR and then the brokers that feed their customers this garbage.

3. Manoncampus
   Comment by Manoncampus | 10/26/07 at 3:33 pm

   Take it from a Revere resident, that project isn’t going anywhere fast.

   The only thing that has happened thus far was the houses that sat on the land got bulldozed, it’s

   been like this all Summer. There’s a lot of advertising and marketing hype going on and that’s

   all we see, an empty lot with a few dirt piles, a chainlink fence and pretty banner. I spoke with

   the developer and got the usual cheap salesman’s pitch about units being soldout in phase 1 from

   the presales. Yeah right! Now accepting deposits for phase 2 and 3 but as a resident I’d have to

   say this “TIR” - “This Is Revere” things like this seldom get done.

4. milke
   Comment by milke | 10/27/07 at 12:02 am

   Well! Let me breathlessly thank John for this

   amazingly good news! I must say, I’m completely taken aback, in a GOOD way!!! While I’ve been

   long touting the strength of the city center condo market here in Boston, who would have thought

   that Revere could command such amazing successes! With this incredible news now under our belts I

   think it’s high time we set aside the constant doom and gloom being touted by the main stream

   media about the crashing market, subprime meltdown, blah blah blah.

   Fact of the matter is,

   buyers are out there and they’re hungry for deals! And quality! A nabe like Revere while not the

   traditional market for your up-and-coming executive/hedge fund manager/law partner, appears to be

   drawing some incredible interest! It’s close to downtown, ample parking, and beachfront? Well what

   more could one ask for?

   Hearty backslapping congratulations to the doubtlessly happy new

   owners at Ocean Club. You can look forward to many many years of above market YOY % gains!!

5. John A Keith
   Comment by John A Keith | 10/28/07 at 10:32 pm

   Hello.

   It is impressive that

   the developer has put all these units under agreement. Whether or not MLS is up-to-date is a valid

   question - the information is entered by agents, themselves.

   I do not know what the

   developer is requiring from potential buyers. Usually, with new construction, a buyer must put

   down a refundable $1,000 deposit. Within 10 days, a purchase & sale contract is signed, and

   usually a much more substantial deposit is made, usually in the 5% range. For properties under

   construction, developers often ask for a second, substantial, deposit, say 60-days from then, for

   perhaps another 5% deposit.

   However, in a slower market, these deposits might be

   negotiable.

   I don’t know what the Ocean Club is requiring. I would expect that units are

   not reported as “under agreement” until a valid purchase & sale contract is signed, not until a

   substantial deposit is made by a buyer.

   Therefore, I have some faith in the numbers they are

   reporting.

   If people want to know what is really going on, they should start by asking the

   on-site sales office. If potential buyers are concerned about numbers of units under agreement,

   etc., they should ask the sales office, and ask for proof before signing any legal contract.

6. Fever
   Comment by Fever | 10/29/07 at 3:45 pm

   John:

   Do you really believe asking the sales office will get you straight answers about the

   project?

   Stated differently, if things were so great why wouldn’t there be construction

   workers at the site? Again, they’ve been running full page ads in the Globe as early as summer

   2006.

7. John A Keith
   Comment by John A Keith | 10/29/07 at 6:14 pm

   Fever, you are not welcome here. Future comments will be

   deleted.

8. WHOA
   Comment by WHOA | 10/30/07 at 11:36 am

   Ouch! Fever presents a completely legitimate point

   and John shuts him down.

   John I first started reading this blog thinking you were

   different: unafraid to tell it like it is and answer the tough questions, even if it might hurt

   your wallet.

   But lately you’ve become tempestuous, capricious and uneven. And you’re

   starting to sound like all the other rah rah real estate shills out there, which as a buyer makes

   me really concerned about the state of the market. Are things starting to get bad?

   Fever’s

   question was completely valid and if you’re gonna blow it off like that then hey, it’s your blog,

   do what you want. But I’m less and less interested in reading it and less likely to want to hire

   you as a buyer’s agent.

9. John K
   Comment by John K | 10/30/07 at 11:50 am

   I meant to

   say, “I’m sorry you feel that way.”

   I say exactly how I feel and do exactly what I want …

   that’s how I’m different.

   If I should choose to tell someone to “suck on it”, that’s my

   prerogative.

10. Mike
    Comment by Mike | 10/30/07 at 2:19 pm

    I actually feel the opposite —

    when I first started reading this blog last year, I thought John was one of those typical rah-rah

    Realtors, but in 2007 he started telling it like it is. His opinion of the market has changed over

    the past year (maybe because all the economists he likes to quote are all turning pessimistic

    too).

11. John A Keith
    Comment by John A Keith | 10/30/07 at 4:08 pm

    This is just

    more evidence that if you want the “real� story regarding what’s going the last person to ask

    is the developer, followed closely by anything written in MLS or by the NAR and then the brokers

    that feed their customers this garbage.

    That’s the comment that set me off. I took it

    personally. Perhaps I shouldn’t have?

    I have a thin skin. I am easily offended by people

    criticizing me. Perhaps he was only speaking of the “other” Realtors?

    It’s funny that two

    people who commented read me completely different ways. I’m not sure who is right (I’m guessing

    it’s the one who is going to buy a more expensive condo from me? Ha ha!)

    You say my entries

    / comments have been more capricious and tempestuous … I’d like to know more. No, it has

    nothing to do with my business, I will match last year’s income, fortunately. I do, however, get

    tired of reading some of the comments, especially now that my blog has been discovered by nuts from

    the real estate bubble world. I have no patience / respect for them.

    I agree that my

    writing can be uneven, but I don’t think that’s anything new.

    But, maybe I can just

    explain it away by using my deviated septum and turb hypertrophy as an excuse? If so, I should be

    back to normal, by this Friday, when I should be fully recuperated.

12. Mike
    Comment by Mike | 10/30/07 at 4:15 pm

    John, you are too funny. I think you just have PMS =) Seriously though, people’s

    blogs reflect their thought of the moment which can be one thing one day, then something totally

    opposite the next. People just need to chill out and understand that this is your personal blog

    and you’re entitled to your opinions. You’re not consistently a cheerleader for the NAR or MAR

    (although you can be on certain days). This blog’s probably not even the primary way you find

    clients. You probably get them through referrals from other happy clients, right? I am probably

    considered a bubble nuthead, but I am ashamed of the way my peers criticize every realtor blog out

    there.

13. John A Keith
    Comment by John A Keith | 10/30/07 at 4:52 pm

    I get all

    my clients through my blog.

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