US House OKs Jumbo Loan Increase As Part Of Stimulus Plan
As part of a newly-proposed economic stimulus plan under consideration on Capitol Hill, the U.S. House proposed an increase in the size of home loans that can be purchased by Fannie Mae and Freddie Mac. The National Association of REALTORS® sent a letter to Congress urging this move earlier in the month. The conforming loan [...]
Boston Real Estate Market Seen As Better Off Than Nation’s
Boston seems to be better positioned for recovery than other parts of the country. At least that is what was portrayed at a dinner hosted by the Builders Association of Greater Boston last Wednesday and reported by Banker and Tradesman. Boston’s low unemployment and steady income growth will help the local housing market rebound, predicted [...]
Existing-Home Sales Prices Fall in 2007
The year 2007 ended on a low note with existing-home sales at 5.652 million for the year, 12.8 percent below the 6.478 million transactions recorded in 2006, NAR reported this morning. Despite the decline, sales for 2007 were the fifth highest on record. The median sale price for all housing types was $218,900 in 2007, [...]
Buyers Sue Agent Over Home Price
Many people may feel they overpaid for a home they bought during the housing boom, but one California couple is trying to do something about it. According to the New York Times, Marty Ummel and her husband Vernon, of Carlsbad, are suing their real estate agent, claiming he withheld information that similar homes in the [...]
Forclosure Rate in Massachusetts Increased 148% In 2007
Banker and Tradesman reported this week that the foreclosure rate increased 148% in 2007 compared to 2006. There were total of 7,653 foreclosure deeds in 2007. To find foreclosure information and foreclosure auctions, subscribe to Banker and Tradesman on-line.
Luxury Condo At An Affordable Price
The Bushari Team listed a new luxury condo at the Regatta Riverview Residences: 8 Museum Way Unit 502 Cambridge. This 2 bedrooms 2 bathrooms condo is tastefully renovated and features marble floors entry and hardwood floors throughout the condo, cherry kitchen cabinets with granite counter-top and breakfast bar, stainless steel appliances, marble bathrooms and 1 [...]
Druker Plan for 330 Boylston Street unveiled
The Back Bay neighborhood association gathered at the Boston Public Library Thursday night to hear deatails for the planned development of 330 Boylston Street. If the plan is approved, Ronald Druker, president of The Druker Co., will build eight floors of Class A office space with ground-floor retail and 150 garage spaces at the sight [...]
Interest Rates Hit 2-Year Low
Interest rates hit a 2-year low at 5.5% for 30yr-fixed. This is a great opportunity to refinance or lock your rate. Ricardo Brasil from Wells Fargo Home Mortgage is offering this rate with closing costs or “under 6%” with no closing costs and no points! With that in mind, you will have the option to [...]
Views, Views and more Views
The Bushari team started marketing another great property at the Regatta Riverview Residences. This unit has the most amazing views the Regatta has to offer: panoramic views of the Back Bay, Beacon Hill, Financial District, Zakim Bridge and the North Point Park. Unit 2122 is located on the 21nd floor of the North Tower and [...]
