Stocks rise as investors predict rate reduction
Despite record high crude oil prices, the stock market advanced today as investors speculated interest rate cuts by the Federal Reserve on Wednesday. The Fed will begin its two-day meeting tomorrow and a rate cut is expected the following day. The move would follow a half-point reduction in September. The Fed may be looking to [...]
Cash-flow investments
So you want to invest in real estate. You want to buy a condo and rent it out for a decent cash-flow, say 7%-10% return on investment (down payment) per year, after all expenses of course. You have heard all over the media that it’s a buyer’s market and foreclosures are up; so why can’t [...]
Finding a Boston Loft
Lofts have become the new “it” word in the Boston Luxury Real Estate Market. The old industrial neighborhoods of Boston’s Seaport District and Leather District have seen a rebirth as residential neighborhoods in recent years. The Seaport District and Leather District are both walking distance from Boston’s downtown financial hub, and with the strong job [...]
MA to impose tough mortgage regulations
According to the Boston Globe online,
Massachusetts is looking to impose some of the most stringent mortgage regulations in the nation in the attempt to prohibit mortgage companies from granting loans borrowers cannot afford. Lenders and brokers will not be permitted to approve loans that they do not have a “reasonable belief” the customer can [...]
Summit Mortgage is Out of Business
Summit mortgage, one of the leading mortgage companies in Boston closed yesterday, laying off most of its 140 employees. It was a rumor for a while that Summit mortgage is struggling and doesn’t have money to lend; now it’s final.
Here is their Press Release:
BOSTON, Mass., October 11, 2007 — Summit Mortgage announced today that it [...]
Fan Pier Breaks Ground
Fan Pier, one of the largest LEED-certified, multi-use developments in the United States, broke ground. The first building constructed at Fan Pier was the Institute of Contemporary Art late last year. The first office building that broke ground is going to be an 18-story, 500,000-square-foot Class A building with two floors of retail space as [...]
