Berkshire MA Real Estate and Condos

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Tiny Leesburg African-American Museum tells stories long ignored
There’s Norman Rockwell’s Leesburg, and then there’s the black perspective.

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A promo for John Kelly’s Work-In-Progress The Escape Artist filmed at MASS MoCA, April 2010. John Kelly, the 2010 Sundance Time Warner Storytelling fellow-in-residence at MASS MoCA with Sundance Institute Theatre Lab, will give a Work in Progress reading of his newest work, The Escape Artist, on Saturday, April 4, 2010. The Escape Artist is a collision of music, video and story. In a studio dubbing recording session for cinematic re-enactments of the paintings of Caravaggio, a singer hired to lay down the tracks channels the characters that populate the paintings, encounters unexpected technical difficulties, and reveals a turbulent personal history of his own.

Can someone tell me what the crowd is like in the Berkshires? I am looking to go there for a long weekend with a few girlfriends, and i am wondering if it is an older or younger crowd, etc? Also looking for any suggestions on things to do, spas, theatres, restaurants, boating, etc? thanks!

My wife and I are heading up to the Berkshires for our wedding anniversary and I would like to have at least one really special dinner.

I’m looking for a place that we can get all dressed up for dinner. Let me stress, I want somewhere that ALL the patrons will be dressed up, not just us. Romance is key.

Of course quality is most important, this includes service.

Please do not suggest The Red Lion.

Graham Richards, Janet deleon, Schuyler Richards and Chris Hoff visit Charlene and Karl for a Massachusetts vacation the last week in August, 2009. We went to Wahconah Falls outside of Pittsfield, Center Pond in Becket, Ruvo’s in Long Island (via the Bridgeport Ferry), a Boston Redsox/Chicago White Sox game at Fenway Park…..and we sorta stopped by a farm on Pittsfield Road to check out the Alpaca’s…..but we didn’t let the geese out!!!!

If you long for life at a slower pace, where friendly neighbors interact against a backdrop of classic village settings, we have some suggestions about places to visit and perhaps to live. Our review of great vacation and second home spots ranges from western Massachusetts, to the shores of Lake Champlain in Vermont and New York, the Upper Valley of New Hampshire to the Rhode Island seashore. We’ll begin our tour in the Berkshire Mountains of western Massachusetts.

Stockbridge, Massachusetts

Stockbridge is a small village nestled in a quiet valley, in the heart of the rolling hills of the Berkshires. Its sun-dappled streets and classic architecture have made it emblematic of the quaint New England village. It is fitting that one of the artistic chroniclers of life in Stockbridge was Norman Rockwell, whose romantic portrayal of small town life evokes a simpler time, unhurried and neighborly.

The small-town center seems a Rockwell painting come to life. With small, locally owned shops, tidy, wide streets and sidewalks, kids on bikes, beautiful churches, and numerous examples of well maintained and diverse New England architecture, Stockbridge offers a welcomed respite from the hurried pace of 21st century America.

The Berkshire hills that surround Stockbridge offer a wide variety of four season activities. There are more than 90,000 acres of recreational land, over 90 lakes and ponds, parks, golf courses and ski areas. Cultural touchstones of Stockbridge include the world-renowned Tanglewood Music Festival and the Berkshire Theatre Festival.

While home prices in the area are relatively high, there are still some bargains available from time to time. Visit the Massachusetts 2ndhome State Page at http://www.2ndhome.net/massachusetts-vacation-homes.

The next two towns on our tour of villages and village life in the Northeast share a special connection, even though they are in different states. Essex, New York and Charlotte, Vermont are separated, some say joined, by a 20 minute ferry ride across beautiful Lake Champlain.

Charlotte, Vermont

The Town of Charlotte sits on a series of hills and ridges overlooking Lake Champlain, about ten miles south of the bustling city of Burlington. Vermont Magazine has said “…This is a town dominated by rural landscapes, by farmland, hills, and orchards; it is also – quietly, to be sure – part and parcel of Vermont’s Gold Coast.”

Charlotte is a town with multiple attractions. It’s close enough to Burlington to access great shopping, dining and nightlife, yet it is a bucolic, pastoral place possessed of a strong sense of community spirit, manifested by a commitment to excellent schools, a new town hall, and a great local gathering spot, the Old Brick Store. Its residents bridge the spectrum between multi-generational farmers, artists, writers and professionals of all stripes.

Charlotte has been a rural escape for second homeowners for many years. It’s comprised of several villages, including East Charlotte and Thompson’s Point, a largely summer community. Visit the Vermont 2ndhome State Page at http://www.2ndhome.net/vermont-vacation-homes.

Essex, New York

Essex is located on the shores of Lake Champlain and in the foothills of the Adirondack Mountains. It is sometimes referred to as New York’s most historic hamlet. Why this designation? Among other reasons, Essex has one of the finest collections of pre-Civil War architecture in the country. Framed by a beautiful lakefront and New York’s majestic Adirondacks, Essex has welcomed visitors and second homeowners for many years. Another special feature of this charming place is that across the blue waters of Lake Champlain lies the vista of Vermont’s Green Mountains.

There are many four-season activities available in and around the town, including first class trout fishing on the Boquet or Salmon Rivers or on the broad, deep waters of Lake Champlain. Biking, canoeing and kayaking, hiking and birding are popular in spring summer and fall. And of course sailing and power boating on Lake Champlain are some of the best to be found in the Northeast. There are many high mountain peaks, trails, rivers and streams within a half hour of the village. The closest hiking trails are in nearby Split Rock Reserve, a 3000-acre tract where numerous trails hug the shore of Lake Champlain. Golfers will find 10 challenging courses within a half hours drive. Summer theatre, concerts and special events round out the warm weather activity list. Winter activities include great backcountry and downhill skiing, or for the more adventurous, ice climbing. Visit the New York 2ndhome State Page at http://www.2ndhome.net/new-york-vacation-homes.

Lebanon, New Hampshire

In the heart of an area referred to by locals as the Upper Valley, Lebanon is located about mid way up the State of New Hampshire.

The town is laid out in the traditional New England fashion, with a two-acre square, with a band shell at the center. The square is fronted on by a collection of impressive traditional civic buildings with handsome facades, including the town hall, a library and a wonderful gem, the Lebanon Opera House. It’s an 880-seat facility with superb acoustics and is the largest proscenium theater in the Upper Valley. After more than eighty years of presenting quality musical and theatrical performances, the Opera House remains a key component of the cultural life in and around Lebanon.

Lebanon is just a short drive south of Hanover, the home of Dartmouth College, which offers many year round cultural events in the multi performance hall venue of the Hopkins Center. Films, musicals and dramatic productions, including opera, are staged throughout the year.

Much of the housing stock in the historic district is comprised of stately Colonial, Federal and Victorian style homes, a legacy of the wealth of mill owners of the 19th century. The town has ranked highly, (often in the top four), in Prentice Hall’s ‘100 Best Small Towns in America’, a guide to the communities that offer the best in small town living. It mingles the quiet of small town rural life with cultural opportunities not commonly associated with rural life.

Outside the historic district, a wide variety of housing can be found in the area, from 18th century farmhouses, to ranch-style homes and increasingly, high-quality modular homes, in many traditional and contemporary designs.

In short, if you are looking for a second home, Lebanon and the surrounding area offers a unique blend of rural lifestyle and urban amenities. Visit the New Hampshire 2ndhome State Page at http://www.2ndhome.net/new-hampshire-vacation-homes.

Narragansett, Rhode Island

The town of Narragansett hugs the Atlantic Ocean along 26 miles of shoreline (including Pettasquamscutt Cove and Narrow River). This long and varied shoreline has drawn New Englanders to second homes in the summer since the early 1900’s. During the summer season, the population triples. The year round population has also been growing in recent years.

A principal attraction for these seasonal residents is easy access to miles of varied beaches. The busiest is the Narragansett Town Beach, right in the center of town. Known for quality surf, it has been described as one of the top surfing destinations in the country. Nearby Scarborough State Beach, which is more than a mile long, has fewer undertows and a more gradual slope than the town beach and is the choice of many area families. Roger Wheeler Beach, fronting on the harbor, is well protected and is best suited for small children. Salty Brine State Beach is a small crescent of sand that abuts the nearby port town of Galilee, where many sightseeing, whale watching and fishing boats lie at anchor, plus the ferry to Block Island, which lies12 miles offshore.

In the middle of Narragansett, there is a stunning parallel pair of stone arches spanning Ocean Road, anchored on either side by curved towers. The Towers are what remains of the Narragansett Pier Casino that once stood on the site. Designed in 1883 by the renowned architect Stanford White, the 3-story granite Towers, topped by conical roofs, are connected by one long gallery room. Sadly, the main Casino building burned in 1900. The light-filled, 130-foot long Great Hall, built with fieldstone walls, with windows on three sides, still offers a spectacular vantage point to take in the views of the Atlantic and suggests the beauty and opulence of the long vanished Casino.

If you want to find a great seasonal home, Narragansett offers many styles of existing homes and cottages, including new construction, single-family homes, condominiums and adult living communities, plus land, waterfront properties and multi-family investment properties. The surrounding areas offer a wide choice of lifestyles, from summer cottages to grand oceanfront estates, including old New England farmsteads and other country properties.

In upcoming issues of 2ndhome® Journal, we’ll continue our coverage of New England villages where many second home owners have happily

settled.

In your search, for a home Boston is a place you can find a home that will fit your family, your income and your every need. Boston, Mass was founded on September 17, 1630 by the Puritans. It was first known as Trimountaine, but then the settlers changed the name to Boston, England and then after the Revolutionary war, it was known as Boston, Mass. Boston is well known for the Boston Tea Party and by other events that happened in the war with England and the historical sites are available for your to see when you have the time.

Many tourists will visit Boston to see many of these things. Massachusetts a great place to live because you will become part of the culture and history of the area. Massachusetts has some of the most famous happenings and is the center of the war. There are a lot of artifacts from the War that still exist in Massachusetts and all the culture makes Massachusetts (Boston in particular) interesting and alive. You can experience the culture in the homes that are found through out Boston, in the architecture and in the streets, even in the bars and clubs surrounding the area.

In the area, you will find mostly Catholics, but there are still great amounts of Irish in the area. However, Massachusetts has a great diversity that makes Massachusetts great. Although you can see the Irish trademark (pubs) all over the state and especially in Boston, you can find other ethnic cultures in the area. As you are probably aware, Boston is the home of the Kennedy’s. John F. Kennedy was raised in Massachusetts and was a prominent politic figure in the state, but that is evident since he became one of American’s most known presidents.

Homes for sale in Massachusetts and Boston are great for the average Joe or America’s stars. However, as for the Boston area, you will want to find a Boston Real estate agency if you plan to relocate to the great city. The city has a total area of 90 miles and is almost fifty percent water. Boston is near other great areas like Rever, Chelsea, Cambridge, Watertown, Newton, Brookline, Canton, and Qunicy. Quincy should not get mixed up with Boston, but it is known as the Greater Boston. All these areas would be great to settle down and raise a family or live the bachelor life. When you begin your search for a Boston area home you will want to set yourself a budget. Boston real estate rentals or homes can be expensive, but it’s all about the location. You can live in Boston, have a great job, and not have to pay much on the commute. Living in Boston, you can find one bedroom, to five bedroom homes, condos, townhouse, apartments and so many other variations you will just love living in Boston.

They are located in the start line to America’s history. Berkshires, ma real estate is also a great place for a person to look for a home or rental. By simply contacting a real estate agent in Berkshires, ma you can begin your search for your dream Massachusetts home or apartment. When it comes to homes for sale in Massachusetts you will want to realize that you are getting a good value for your purchase. Boston, Massachusetts is one of the most favorable cities in America, and by purchasing a home for sale in Massachusetts you are setting yourself up for great parties, views, and family fun times. When purchasing a home in Boston, be sure to purchase a home that you can grow into as your children grow, and your family grows. You don’t want to have to move more than once so look for your dream house now while you have that perfect opportunity.

Boston and other areas of Massachusetts offer many sites to see and many activities to do. If you don’t recall Fenway Park is located in Massachusetts. Fenway is the most famous baseball field known to fans. Fenway Park has its own history from all the famous players that have hit home runs in the ballpark. Fenway is the one place that every Massachusetts family must go and see. Not only is it quality family time, but also Fenway is just as much as Massachusetts as Paul Rever.

There are plenty of realty ventures pertaining to real estate in Massachusetts. Property in the Boston area or even just in Massachusetts is a good investment because many people from New York will have cabins or summer homes in the state. Massachusetts is a great getaway to many celebrities and politicians. Not to mention that the wholesome feeling and beautiful scenery that Massachusetts offers is just one reason for anyone to relocate or to purchase a summer cottage. Much of Massachusetts is secluded and is great for private getaways. That’s why many celebrities try to take advantage of realty ventures in Massachusetts.

It doesn’t take much to become a success in Massachusetts’s real estate because the real estates practically sell their selves. People go to Massachusetts because it one of the few places in the States that offer that good, wholesomeness that many towns or cities lack. Certain areas of Massachusetts’s looks practically untouched by age and the cities still have that small town feel. As for Commercial Real Estate in MA, you will find that there are plenty of business opportunities in the cities, especially Boston, and you will find that perfect spot to open up a restaurant, bar, or other business.

Since the area is packed with history, there of course is going to be high demand for Ma. Real estate. Because of the high demand, there are well over fifty schools located in Massachusetts so that the area can produce enough realtors. At these schools, you will find out what to emphasis about a MA real estate site and you will also lean how to obtain the real estate home values for Massachusetts. Many realtors who start their own business will offer multiple listing real estates for Massachusetts. This basically means that they allow other realtors and banks to post listings on their site so that you are sure to find your perfect home or apartment.

When it comes to real estate in western ma you will want to look at the following areas: Agawam, East Longmeadow, Longmeadow, Southwick, Springfield, Westfield, Wilbraham, and West Springfield. Also great little commonwealth communities would be great to purchase a new home in Massachusetts. MA real estate property in Western Massachusetts and great, as well as most areas of the state, to find whatever you are looking for. If you want to raise a family, stay single, party with friends, or bond with your family, by simply spending a weekend in Massachusetts will make you want to relocate.

It has something to offer any type of person in any type of living situation. The towns and cities of Massachusetts look very classy and upscale, but once you mingle in, you realize that it’s just like your small town. The real estate appreciation in Massachusetts has some of the best numbers for those who are buying and selling a home in the state of Massachusetts.

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Dean Kirkland
Aug. 10 (Bloomberg) — The collapse in commercial real estate is preventing Federal Reserve Chairman Ben S. Bernanke from declaring the economy and financial markets are healed.

Property values have fallen 35 percent since October 2007, according to Moody’s Investors Service. That’s making it tough for owners to refinance almost $165 billion of mortgages for skyscrapers, shopping malls and hotels this year, pressuring companies such as Maguire Properties Inc., the largest office landlord in downtown Los Angeles, to put buildings up for sale.

The industry is likely to be high on the agenda when Bernanke and his colleagues sit down in Washington tomorrow for the Federal Open Market Committee meeting on monetary policy. Lawmakers including Barney Frank and Carolyn Maloney are pushing the central bank to extend an aid program designed to restore the flow of credit.

If nonresidential real estate remains in the doldrums, the Fed may be forced to leave emergency-lending programs in place and keep its benchmark interest rate close to zero for longer than some investors expect, given positive signs elsewhere in the economy.

Commercial property is “certainly going to be a significant drag” on growth, said Dean Maki, a former Fed researcher who is now chief U.S. economist in New York at Barclays Capital Inc., the investment-banking division of London-based Barclays Plc. “The bigger risk from it would be if it causes unexpected losses to financial firms that lead to another financial crisis.”

‘Close Attention’

The Fed is “paying very close attention,” Bernanke, 55, told the Senate Banking Committee on July 22, the second of two days of semiannual monetary-policy testimony before the House and Senate. “As the recession’s gotten worse in the last six months or so, we’re seeing increased vacancy, declining rents, falling prices, and so, more pressure on commercial real estate.”

The pressure may be easing in other areas of the economy. Gross domestic product shrank at a better-than-forecast 1 percent annual pace in the second quarter after a 6.4 percent drop the prior three months, and residential housing starts rose unexpectedly by 3.6 percent in June as construction of single- family dwellings jumped by the most since 2004, according to data from the Commerce Department.

Employers cut fewer workers than anticipated last month as the jobless rate fell to 9.4 percent from 9.5 percent in June — the first decline since April 2008, based on Labor Department figures.

‘Danger Zone’

Amid such glimmers of improvement, commercial real estate is a “particular danger zone,” said Janet Yellen, president of the Federal Reserve Bank of San Francisco, in a July 28 speech in Coeur d’Alene, Idaho. The market may be “under stress for some considerable period of time,” William Dudley, chief of the New York Fed bank, said the following day in New York.

Nonresidential construction may decline as much as 9 percent this year and another 5 percent in 2010, predicts Kenneth Simonson, chief economist at Associated General Contractors of America, an Arlington, Virginia, trade group whose members include Essen, Germany-based Hochtief AG’s Turner Construction Co. in New York, one of the largest U.S. builders. In the second quarter, it accounted for 3.6 percent, or $509 billion, of U.S. gross domestic product on an annual basis, down from 4.3 percent in the final three months of 2008.

A dozen lawmakers questioned Bernanke on the topic during his July testimony. Some asked about extending the Term Asset- Backed Securities Loan Facility, the emergency program the Fed began in March to restart the market for securities backed by auto, credit-card and education loans. The central bank expanded the facility in June to cover as much as $100 billion in loans to support commercial mortgage-backed securities.

One-Year Extension

Forty-one House members — including Frank, 69, a Massachusetts Democrat who chairs the Financial Services Committee, and Maloney, 61, a New York Democrat who heads the Joint Economic Committee — signed a July 31 letter seeking a one-year extension through December 2010 and asking for a decision by mid-August.

Fed policy makers will prolong the program if they judge financial markets are still “some distance from normal operation,” Bernanke said during his July 22 testimony. “We will certainly be monitoring the situation.”

The Fed likely will change the end date — just not right away, said former central-bank Governor Lyle Gramley.

Market Developments

“They’re probably going to want to wait a while to see how markets develop,” said Gramley, 82, now senior economic adviser with Soleil Securities Corp., a New York-based investment- research firm.

A six-month continuance is more likely than the one year industry officials want, said former Fed Governor Laurence Meyer, Washington-based vice chairman with consultant Macroeconomic Advisers LLC of St. Louis.

That would still be useful and “provide more of a runway” for the TALF to be effective, said Jeffrey DeBoer, president of the Real Estate Roundtable, a Washington group representing 16 trade associations and property owners including New York-based Vornado Realty Trust, the third-largest U.S. real-estate- investment trust by market value.

Any sales of mortgage-backed bonds would be the first new issues in the $700 billion U.S. market for commercial-mortgage- backed securities since it was shut down by the credit freeze in 2008.

About $3 billion are in the pipeline, and the success of these sales may foster as much as $25 billion in total deals in the next six months, said Kenneth Rosen, who runs a $310 million hedge fund in real-estate securities and heads the University of California’s Fisher Center for Real Estate and Urban Economics in Berkeley.

Signs of Improvement

The market is showing some signs of life: The Bloomberg REIT Office Property Index of 14 companies, while down 56 percent from its February 2007 peak, has gained 41 percent in the past six months. Also, the yield gap, or spread, on top- ranked commercial mortgage-backed bonds relative to U.S. Treasuries is about 4.49 percentage points compared with 8 percentage points at the start of May, according to Barclays data.

The Fed’s efforts to revive credit may be overpowered by continuing job losses, even as the pace of those losses slows. U.S. employers eliminated 247,000 workers from payrolls last month, according to an Aug. 7 Labor Department report, bringing the cumulative reduction to about 6.7 million since the start in December 2007 of the worst contraction since the Great Depression.

‘Negative Fundamental’

“Demand for commercial space comes from employment and the income generated by that employment,” said University of Pennsylvania Professor Joseph Gyourko, director of the Wharton School’s Samuel Zell and Robert Lurie Real Estate Center in Philadelphia. Mounting job losses are a “really significant negative fundamental,” signaling that “conditions are going to be tough for the industry for a while,” he said.

That may spill over into mounting losses at some banks. Forty-seven percent of loans at the 7,000-plus smaller U.S. lenders are in commercial real estate, compared with 17 percent for the biggest banks, according to New York-based Goldman Sachs Group Inc.

Regions Financial Corp., the Birmingham, Alabama, lender that accepted $3.5 billion in U.S. rescue funds, had $36.9 billion in nonresidential real-estate and construction loans at the end of the second quarter, 38 percent of its overall total. Regions posted a net loss for the period of $188 million compared with a profit of $206.3 million a year earlier as more developers and home builders fell behind on payments.

Third Straight Loss

Salt Lake City-based Zions Bancorporation, which operates in 10 Western states, reported its third straight quarterly loss July 20 on a surge in commercial-property defaults. Thirty-five percent of its loans for the period were in nonresidential real estate and construction, and its provision for loan losses rose to $762.7 million from $297.6 million in the first quarter.

One developer based in U.S. Representative Walt Minnick’s district is in a bind because a lower appraisal means he can’t renew the full amount of a $10 million, three-year loan he took out for a recent project, the first-term Democrat from Idaho said in an interview last week. The person may be forced into bankruptcy, said Minnick, 66, without identifying the developer.

“That is a microcosm of what is happening to commercial property” everywhere, he said. “It’s the next shoe to drop.”

Relinquish Control

Maguire bought 24 properties and 11 development sites for $2.88 billion in 2007 from New York-based Blackstone Group LP, the world’s largest private-equity company. Later that year, credit markets froze, blocking the Los Angeles-based company’s efforts to refinance its mortgages. Now Maguire may relinquish control of seven Southern California buildings with $1.06 billion of debt, the company said today, adding it’s not planning on filing for bankruptcy.

New York-based Brookfield Properties Corp. faces a $1.8 billion debt maturity in October 2011 arising from the 2006 purchase of Trizec Properties Inc., which made it the second- biggest owner of U.S. office buildings by square footage. Brookfield has said it expects to refinance some of its obligations and sell buildings to cover the rest.

Commercial real estate remains “an important downside risk,” said Gramley, a Fed governor from 1980 to 1985. “I don’t think it’s going to be a blockbuster negative, but it’s one additional reason why this recovery is going to be of modest dimensions.”

To contact the reporter on this story: Scott Lanman in Washington at slanman@bloomberg.net.