Is it difficult to balance million dollar sales of tony Back Bay homes with foreclosed properties (like the one above)?

According to P.T. Vineburgh (my business partner who is in the photo above) in today's Banker and Tradesman:

“The target buyers and the locations are obviously quite different. It’s two different worlds.”

Charlesgate Realty Group is offering a 5,000-square-foot brownstone on Marlborough Street in the Back Bay for $5.2 million [see details and photos here]. The six-level residence for the “discerning buyer” features four bedrooms, seven fireplaces, an elevator, a deck, parking and a home gym. Next week, the Boston company is expected to list a foreclosed two-family on Crawford Street in a gritty section of Dorchester for $200,000. The owner abandoned the property in the midst of a renovation and a blighted shell remains.

To us, each and every property is unique in its own way, whether it is a luxury townhouse, foreclosed multifamily, or single condo.  Our job is to act on the seller's behalf to obtain the highest price possible.  That means a different marketing plan for each property to attract target buyers.  You have to ask: who is the most likely buyer and how do we attract them to the property.  Most of the foreclosed properties we sell go to investors who are looking to rehab a property and either rent it or turn around and resell it for a profit.  The Back Bay townhouse will sell to a high net worth individual looking for a home on one of Boston's most desirable streets.  Clearly a different approach is needed to attract buyers to each, and that is why we take a customized plan of attack to each property we sell.

And sometimes two worlds collide (so to speak!)....see my previous post below about the Ritz-Carlton foreclosed condo that we will be selling in the near future.