How to find property in Boston that’s worth more than $1 million

Property assessment agencies are now calling for property owners to be more aggressive in their searches for properties worth more, according to a recent report from Boston properties website 

The report is part of the company’s annual property assessment survey, which offers an in-depth look at the properties in Boston worth over $1,000,000. 

 “If property values have gone down in the last few years, that means property owners are looking for value, but if property values go up in the next few years that means they are looking at value,” said Matt Leppert, the founder of Boston properties and a property assessment expert. 

“So if the property values are going up and property values on the other side are going down, that’s when you want to get aggressive and look at properties that are more valuable.” 

The company, which has been measuring the properties worth $1.5 million to $2 million in the Boston area for over a decade, has found a number of properties in areas of the city that have gone up in value in the past five years. 

Bristol, Charlestown, Dorchester, and Cambridge are the areas where the company found properties worth a total of $1 Million in five years, according the report. 

Leppert said there is a “very good correlation” between property values and a city’s economy, and that he believes that property owners can have a positive effect on the city’s tax base. 

In addition to finding properties worth over one million dollars, the company has also found properties valued under $250,000 and under $200,000 worth a combined $3.8 Million in property values. 

The survey also found that properties that were not listed in the listings of the cities where they were located had gone up between 1% and 7% over the last five years and are valued between $50,000 to $300,000 in the city. 

According to the report, property assessments are not the only ways that property value is increasing in Boston. 

Property tax revenues from the Boston Area Sales Tax were down 6.4% between 2014 and 2019 and are projected to fall again in 2021, as the region transitions from a regional sales tax to a state sales tax, according the report.

“We’ve seen that increase in property value in our cities, in the state of Massachusetts, and we’ve also seen that it’s happening in our communities, too,” Lepperton said. 

While Leppervant is not a real estate appraiser, he does offer some tips on how to find the property you want. 

To find the right property in the area, you can ask a realtor, a real property manager, a property manager at a brokerage house, or a property appraisal agency. 

He recommends visiting a realty office or building management company. 

Also, ask around the neighborhood to see if the properties you want are on the market or if you can negotiate a price with the seller. 

If the seller is interested in moving in, Lepperto said it’s usually best to offer a 10% down payment for the home you’re looking to buy, which is usually lower than a 5% downpayment. 

As for whether you should sell the property, he recommends the first thing to do is to check on the value of the property. 

You may also be able to see a “buyer’s remorse” assessment for the property that is done by a realtors professional. 

Once you have determined the property’s value, you should check out what type of improvements were made to the property over the years.

Leppleton also suggests doing a Google Street View of the neighborhood and finding out what kind of homes are available for sale in the neighborhood. 

For more property and real estate news, follow the links below: For the latest news on Boston properties, stay up-to-date on the latest in Boston real estate: Brent Johnson covers business and finance for Boston Business Insider. 

Follow Brent Johnson on Twitter: @brentjohnsonbbs

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