New-home sales in October fell to a seasonally adjusted rate of 433,000, a 5.3 percent drop from the revised September rate of 457,000, according to figures released this week by the U. S. Department of Commerce.Sales are 40.1 percent lower than the October 2007 estimate of 723,000. The median sale price of a new home [...]
U.S. home prices fell 1.8 percent in the third quarter of 2008 from the previous quarter, and 6.0 percent compared to a year ago, according to the Federal Housing Finance Agency’s (FHFA) latest house price index. The data is calculated using purchase prices of homes with mortgages bought or guaranteed by Fannie Mae or Freddie [...]
The S&P/Case-Shiller U.S. National Home Price Index fell a record 16.6 percent during the third quarter of 2008 versus the same period a year ago, Standard and Poor’s reported this week. Home prices have returned to 2004 levels, while the index’s 10-City and 20-City Composites posted annual third quarter declines of 18.6 percent and 17.4 [...]
The economic stimulus helped lower rates. Today we saw a significant drop with 30-year-fixed conforming loans being quoted at 5.5 percent or 5.25 percent with 1 point of origination.
Single-family home sales in Massachusetts jumped nearly 14 percent in October from a year ago, the second consecutive month that sales increased, according to Banker & Tradesman. But home prices failed to recover, with the statewide median home price falling by more than 10 percent during the month compared to a year ago. Single-family home [...]
Would you like a really short commute? How about no commute! Bushari Group Real Estate has just listed this fabulous 1,564-square-foot loft in the heart of Boston’s Financial District, at 289 Devonshire Street PH-5. A direct-access elevator takes you to this spacious penthouse. The home features, 15-foot ceilings, high-end appliances, roof-rights, tons of storage and 2 full baths. [...]
Before mid-September it seemed that the Boston luxury real estate market was almost immune from what the rest of the nation was feeling. Not so anymore. This spectacular 5 bedroom, 5.5 bath single-family in Newton was foreclosed on and is now available for purchased for $1,299,000. The home is assessed for $2,086,700. The home features 5,583-square-feet of [...]
A 739-square-foot luxury loft for only $319,900…what else could you ask for? Oh wait, how about garage parking and 200+ sq ft of outdoor space? Well, unit 214 at the American Brewery Lofts has it all. In the heart of Jamaica Plain and close to Longwood Medical Center, this is truly a Boston Loft to [...]
In October 2005 the median sales price for a U.S. home was about 7.3 times per capita income. By this May it was just about back tot he historical norm at 5.7 times per capital income. In many locations it looks like inventory has flattened and the decline has ended. SmartMoney Magazine has noted that the following [...]
If you are considering purchasing a piece of Boston Real Estate with a conforming loan, you may want to close before the spring. Come April 1, 2009, Fannie Mae will begin implementing some new rules. The first rule will require the appraiser to review the sales contract. This may seem like a given, but it [...]
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