Natalija Pavlovic's archive

Steady Real Estate Market in "The Athens of America"

My family and I moved to Brookline when I was four years old, and though I was born in Europe and continue to visit often, I've come to adopt the definitively American characteristic of moving at the drop of a hat. Through osmosis, maybe, I have witnessed with what ease family/friends/peers are able to migrate back and forth across this massive continent. This is just not done in many other parts of the world.

In my native Belgrade, Serbia, most people still live on the same streets where they grew up, attending the same schools as generations of their families. Folks stay put. But as I passed through the Brookline school system, most of my friends and I got it into our heads that it made sense to seek higher education out of state.

Upon finishing my studies in upstate New York, I remembered that, in fact, I really like Boston, and returned here to begin work in real estate, meeting clients from all walks of life. Locals, foreigners, couples, divorcés, doctors, lawyers, filmmakers, researchers, chefs, pilots, architects, people who work in the financial district with job titles I've never heard of. People starting their own small businesses with enigmatic job titles no one has ever heard of. Professors. Students. And students. And students.

Boston apartments near universities As I welcomed each new student into our office, only then did I start finding the humor in the decision I had made at the age of 18: according to wikipedia (a credible enough source for such ball-park figures), there are "more than 100 colleges and universities located in the Greater Boston Area, with more than 250,000 students attending college in Boston and Cambridge alone." In a city so full of educational institutions, it comes as no surprise that the question for local high school graduates who choose not to leave town is not whether they are going to college but which college will they be going to. Of course I had a great time in college up in Saratoga Springs, NY and do not regret the experience, but I can't help but be amazed at the ingrained mind-set that led me to leave "the Athens of America," with it's near-limitless scholastic resources. The more students I placed in apartments throughout my hometown, the more I felt like I had passed up some great opportunities right here in Boston.

From what I can see, as both an insider and an outsider, no economic crisis will ever prevent people in the United States from continuing to move...this friskiness is just too ingrained in the culture. Boston continues to have one of the most stable real estate markets in the country, with thanks especially to the universities which bring thousands of people in and out of the city each year and provide expensive on-campus housing that keep rents high. Which brings us to our lesson: the September inventory is in and the best places will go first. While it may seem over-the-top to start looking for a September 1st listing in February, it would actually be to your advantage to secure a place for the fall right now. Due to the pressures of the economic climate, more landlords are asking current tenants to give their renewal notices earlier than ever.

So, my advice to students, as I attempt to live vicariously through them in their excellent decision to make this their place of study: don't dilly dally with your Boston apartment search! Over 100 colleges and universities are located in the Greater Boston area, with more than 250,000 students in Boston and Cambridge alone. All those students need to fit somewhere. Do not risk letting one of THEM take YOUR apartment!