All Forum Posts by: Jonathan Bowen

Hello. I'm Jonathan Bowen. I'm the listing broker of 639 Warren Street, Dorchester. Here's the link to the listing page. I'd be glad to email me you a feasibility study and pro forma, if you'd like. Thanks.

Am I reading this correctly? You still wanted to buy this property after being presented with multiple red flags? I can't believe the mortgage company was willing to lend on this! Sounds like 2004 to me... Don't you realize you just dodged a huge bullet? With that being said, you should be able to recoup your expenses.

@Christine Kankowski Here's a link to a Wall Street Journal article from last night entitled "Zillow Intends to Buy and Flip Homes"...

Zillow CEO Spencer Rascoff, in a Tweet last night, announced that Zillow will now start flipping houses. This is not a joke. Do you flip houses? Do you buy, rehabilitate and sell properties? If so, Zillow is now your competitor. Does that upset you? If so, here's how you can fight...

Demand that real estate agents and, especially, brokerages you hire do not syndicate your properties to third-party sites like Trulia and Zillow. Trulia, if you're not aware, is now owned by Zillow. Do you work with an agent who uses dotloop? dotloop is also now owned by Zillow so refuse to sign any paperwork using dotloop. Tell your agents and brokers that you will refuse to list your properties with them if they continue to syndicate your properties to Trulia and Zillow. Brokers have the ability to stop syndicating their listings to Trulia and Zillow and other third-party sites with a simple click of a mouse.

My brokerage, Hub Edge Realty, has never syndicated its listings to any third-party sites except Realtor.com, because Hub Edge Realty's MLS, MLS PIN, has a pre-existing agreement with Realtor.com, and MLS PIN Homes, because it's MLS PIN's own search site and is not bedraggled with competitors' advertisements. Third-party sites play fast and loose with your data. I want to control the narrative that is your property and I can't do that when the Zillow Zestimate is used by buyers to negotiate.

Did you know that Redfin has also entered the house flipping business through RedfinNow. Redfin is now your competitor. Do not use Redfin to buy or sell real estate. Simple.

This is serious business... Redfin and Zillow are now your competitors. They are buying houses that you could've bought...

@Ted Strzelecki I've actively helped the developers and investors I've worked with make millions of dollars over the years by identifying properties for them and then bringing those properties to them... I'm sorry you haven't found a real estate agent to help you in that respect.

@Joe Ruggiero My point, Joe, is that this market is completely overheated and I would have a tough time selling a most multi-family properties to any of my buyers unless it makes complete sense for them. Some real estate agents will look you in the eye and tell you how great the most worthless piece of **** is without having any compunction or remorse. I guess I've grown a conscience.

The owner of 639 Warren Street, Dorchester signed a listing agreement with my brokerage, Hub Edge Realty, last night so it will be listed on LoopNet and Pinergy by Wednesday but probably sooner. It's a 32,307 square foot lot with frontage on Warren Street, Crawford Street and Georgia Street. Its zoned Neighborhood Shopping (NS) within the Roxbury Neighborhood District. We're thinking, after talking with the Boston Planning & Development Agency, that the City of Boston may allow a mixed-use building up to 130,808 square feet, a floor-to-area ratio of 4.0, to be built on the lot but the decision won't be finalized until the property goes through Large Project Review. The owner is requiring the buyer to pay for all costs related to the approval process for the development but will wait until the project has been approved by the City of Boston before closing. Hub Edge Realty may not publicly advertise the listing price... Hub Edge Realty is offering a 2% commission to agents and brokers. Please contact me, and include your email address, if you'd like copies of maps and zoning information. Thanks.

@Joe Ruggiero There's no immediate sense of urgency when listing agents set dates for offers. Why would I jump up and down just to screw you? That's not how I work... Or maybe I'm just jaded? Maybe I'd just like to work with buyers who are deliberate in their search? Buyers who have a sense of their needs and wants... I don't want to work with buyers who are frantically trying to buy a property because those buyers are usually irrational. I only want to work with buyers when I can see their wheels turning...