Fannie, Freddie Suspend Foreclosure Sales
Fannie Mae and Freddie Mac announced today that they will suspend foreclosure sales and evictions involving occupied single-family properties from Nov. 26, 2008 until Jan. 9, 2009. The holiday season moratorium is designed to give attorneys and loan services more time to reach out to borrowers who have defaulted on their loans and continue to [...]
Green Building Starts Up Five-Fold
McGraw-Hill Construction released a report on Wednesday that found the value of green building construction starts was up five-fold from 2005 to 2008. According to the Green Outlook 2009: Trends Driving Change report, starts were up from $10 billion in 2005 to $36 to $49 billion this year and could triple by 2013, reaching $96 [...]
MA Foreclosure Deeds Jump, Petitions Drop In October
The number of foreclosure deeds recorded in Massachusetts spiked in October, but lenders filed fewer petitions to foreclose – the first step in the foreclosure process, according to Banker & Tradesman. The number of foreclosure deeds recorded in October jumped 24.3 percent to 993 from 799 in September. October foreclosure deeds are also 34.4 percent [...]
Housing Starts, Builder Confidence Hit Record Lows
According to a U.S. Commerce Department report released this morning, construction of new homes dropped in October to a seasonally adjusted annual rate of 791,000, the lowest level on government records dating back to 1959. This is 4.5 percent below the revised September estimate of 828,000 and 38 percent below the October 2007 rate. Housing [...]
Great Loft at 42 Chauncy St
42 Chauncy Street #2-3 AB is one of the most unique & dramatic Boston loft residences. Features a duplex layout with a wonderful open living space, spiral stairway, soaring 18 ft ceilings & marvelous structural detail. Enormous arched glass window. Granite/stainless kitchen. W/D. 2 baths w/ hookups for a 3rd. Located in the Heart of [...]
Single Family Home sales prices in Boston down 10% in Q3
Boston-area single family home sales prices for the third quarter dipped year over year, according to figures released by the National Association of Realtors. Nationwide, home prices fell in a record four out of five cities as foreclosures flooded the market. For the Boston area, which includes Cambridge and Quincy as well as New Hampshire, [...]
The Clarendon Is Topped Off
A topping off ceremony was held Tuesday at The Clarendon where the final bucket of concrete was hoisted atop the 33-story tower. The residential project, which is being developed by The Beal Cos. of Boston and the Related Cos. of New York, is under construction in Boston’s Back Bay. The Clarendon consists of 103 condominiums, [...]
Housing Affordability Rises to Highest Level in Four Years
Amidst all the negative economic news comes a silver lining. Housing affordability has risen to its highest level in four years, thanks to falling home prices in many areas of the country and historically low interest rates, according to the latest NAHB/Wells Fargo Housing Opportunity Index. The third quarter index finds that 56.1 percent of [...]
South End Loft is Luxuriously Modern
This sprawling 4,584-square-foot penthouse at Harrison Lofts offers everything a discerning buyer could want. Look out over stunning 360-degree views of the Financial District and Back Bay or enjoy and evening of entertaining on the 2000+ square-foot private deck. This Boston loft features 3+ bedrooms, a private gym, two studies, a wine room, screening room and two [...]
MACDC Releases Mortgage Industry Report Card
Many Boston Real Estate owners are frustrated with their mortgage lenders. The Mortgage Lending Industry’s response to the housing slowdown remains too slow, ad hoc and inconsistent, according to a new report by the Massachusetts Association of Community Development corporations (MACDC). The MACDC report surveyed non-profit housing agencies that provide counseling to homeowners facing foreclosure. [...]
