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New York Post
17-07-2025
- Business
- New York Post
John Hancock's former home can be yours — said to be the sole relic from the American Revolution still standing in downtown Boston
You can use your John Hancock to buy John Hancock's former house. A highly pedigreed property in the heart of central Boston is on sale for the first time in half a century, the Boston Globe reported. The pre-Revolutionary War building has a lot to brag about — it was built by that founding father, used to stash silver for the Continental Army and housed the country's oldest continually run shoe store. Moreover, the Ebenezer Hancock House is thought to be the sole surviving house from the Revolutionary period still standing in downtown Boston, the Globe reported. Advertisement It's certainly the only one you can buy. 8 The Ebenezer Hancock House. Courtesy of Flylisted | LandVest 8 John Hancock, who signed the Declaration of Independence and served as the first governor of Massachusetts. Getty Images Advertisement The brick edifice was built in colonial times around 1767 by John Hancock, the founding father known for his outsized signature on the Declaration of Independence. Hancock's lesser-known brother, Ebenezer Hancock, lived and worked in the home as a deputy paymaster for the Continental Army. The paymasters were responsible for funding American troops, and Ebenezer's home served as their wartime headquarters. Two million silver crowns loaned by the King of France in 1778 were stored in the house, according to the Boston Landmarks Commission, before they were distributed to soldiers. The 5,748-square-foot property is the only remaining Boston building associated with John Hancock. Hancock sold the property to a local merchant in 1785, according to city records, and his personal home was demolished in the 1800s. 8 A law firm has owned and preserved the building for half a century. Courtesy of Flylisted | LandVest Advertisement 8 The house contains some of the best preserved historic interiors in Boston. Courtesy of Flylisted | LandVest 8 A large hearth features an antique mantel and a beehive oven. Courtesy of Flylisted | LandVest LandVest listing agent Dave Killen told The Post that the 50-year stewardship of the property's current owners, the law firm of Swartz & Swartz, has prevented modernization or conversion. 'There's nothing like the Ebenezer Hancock House that I've seen in terms of the level of authentic carpentry that goes all the way back to its original construction,' said Killen. Advertisement The property spans three floors. Raised wood panel work and trim on the second floor remain original details from Hancock's construction. Other historic details include exposed beams, wide-plank floors and an oversize hearth with a beehive oven. Killen, who specializes in unique and historic commercial properties, called the property 'the best surviving example of later Georgian interior architecture in the city.' 8 Exposed wooden beams on an upper floor. Courtesy of Flylisted | LandVest 8 Exposed beams and wide-plank floors span the property. Courtesy of Flylisted | LandVest 8 A former tenant of the historic house pictured in 1973. Boston Globe via Getty Images Killen declined to disclose why Swartz & Swartz is selling the property or discuss prices, but the city of Boston most recently assessed the property at $1.65 million. The Ebenezer Hancock House is protected as a historic landmark, but its next owner doesn't need to turn it into a monument. Flexible mixed-use zoning means its buyer could feasibly live on the premises — with city approval, of course. Shops, boarding houses, taverns and private clubs have all occupied the Ebenezer Hancock House over time. 'We're engaged in a very deliberate search to find the right fit,' Killen said.
Yahoo
15-02-2025
- Business
- Yahoo
Massachusetts homebuyers hope mortgage rates ease, inventory loosens in 2025. Will they?
Real estate experts say prospective homebuyers could catch a slight break in 2025 as inventories marginally increase, but demand will still remain high for single-family homes. Through the first 11 months of 2024, the total number of single-family homes sold in Massachusetts totaled 34,784, a 1.6% increase from the previous year's historically low sales, according to The Warren Group, a Peabody-based provider of banking and real estate data. But last year's statewide median sales price through Nov. 30 was $616,925, up a robust 8.2% Mortgage rates declined during the fall, which helped prospective buyers. But the average 30-year mortgage rate has since moved up, from a little over 6% in September to closer to 7% today. According to Nicole Rideout Hartwick, president of Gibson Sotheby's International Realty, 2025 will bring an early and busy spring market. 'Almost 80% of buyers were sidelined in the fall across all price points due to the election, as well as the perception that interest rates would improve in the spring,' she said. 'This will bring that much more demand and competition to the market.' Sales of high-end properties — those selling for $3 million or more — softened in the fall with the election, Hartwick said, but that's typical. 'We expect to see that come back in early spring," she said. "New construction can't be built fast enough for demand and that will continue to rise. Newer construction priced below $1.5 million is in huge demand, as the largest group of millennials enters their prime homebuying years.' Stewart Young, principal and luxury real estate agent at LandVest, agrees there seems to be a lack of new construction, despite demand for it. He said all markets — luxury homes, new construction, smaller homes and condominiums — are on the rise. 'Since 2021, high-end inventories and sales have been increasing with record levels in many New England markets,' Young said. 'I expect these trends to continue.' More real estate: Elon Musk's shadow looms over this tiny Texas town. Can it cope with the rapid growth? And while there's a preference for turnkey properties requiring minimal cosmetic upgrades, savvy buyers also see opportunity in buying fixer-uppers, he said. 'Buyers continue to value good schools, access to amenities and reasonable commuting,' Young said. Hartwick and Young both said suburban markets have been extremely competitive, with record sales prices. 'Within these towns, there is a definite preference to be in the town or village center vs. out in the country,' Young said. 'Likewise, in cities and larger towns there is a trend toward being able to walk to amenities.' The Boston market has remained steady and healthy, Hartwick added. Hartwick thinks interest rates will become more favorable in 2025. 'They are predicted to drop to high 5% and low 6% by the end of 2025, which will make a difference for a lot of buyers,' she said. Young was more cautious in his outlook. 'There are so many factors that will be in play with the new administration,' he said, in reference to Donald Trump's return to the presidency. 'I wouldn't expect a return to the record low rates of a few years ago. While financing is less of a concern in the high-end market, generally high interest rates are an obstacle for buyers.' Kim Williams, a Realtor with Gibson Sotheby's International Realty in Westwood, said the biggest obstacle for buyers remains low housing inventory, especially for first-timers. 'Hopefully, providing opportunities for existing homeowners to downsize will stimulate some additional housing options for first time buyers,' she said. Hartwick thinks the Greater Boston housing market will be steady and competitive across all markets and price ranges. 'Sales are expected to increase 5% to 8% nationally, and inventory is also projected to increase slightly,' she said. '2025 will bring opportunity for buyers and sellers alike, but preparation and proper representation are key, as the market will remain very competitive.' Buyers will benefit from increasing inventories, suggesting a more balanced market, but demand continues to outstrip supply, so sellers will still have the advantage, Young said. Climate change-type risks, particularly sea level rise, ocean storm surge and inland storm-related flooding, are increasing concerns for real estate owners and buyers, he added. 'Insurance costs are increasing, and coverage is decreasing or not available at all in high-risk markets," Young said. "Recent hurricanes in Florida are likely to increase these concerns. Buyers will benefit from improving inventories and will find exceptional deals for high-risk properties.' On the other hand, demand still outstrips supply, he said. 'Owners of high-risk properties will be wise to engage engineers to conduct climate risk assessments and develop preventive measures,' Young said. This article originally appeared on Greater Boston real estate experts cautiously optimistic about 2025
