October Boston-area home prices off 6 percent
Boston home prices fell 6 percent from October 2007 to October 2008, according to a widely watched analysis of housing price trends.
The S&P/Case Schiller index showed a much more pronounced falloff for the country as a whole — about 12 percent. That figure aggregates data from 20 housing markets.
The index is based on the resale [...]
Professional Appraisers Respond To Appraisal Code
Now that Fannie Mae and Freddie Mac have taken steps to improve appraisal quality by establishing the revised Home Valuation Code of Conduct (Appraisal Code), the nation’s largest organizations of professional real estate appraisers – the American Society of Appraisers, the Appraisal Institute, the American Society of Farm Managers and Rural Appraisers, and the National [...]
MA Foreclosure Deeds Climb 38 Percent From A Year Ago
The number of foreclosure deeds recorded in Massachusetts dipped in November compared to the prior month, but jumped 38 percent from the same month last year, according to Banker & Tradesman.
A total of 880 foreclosure deeds were filed in November, down 11.6 percent from 996 in October and 37.9 percent higher than the 638 foreclosure [...]
Make this stunning Cambridge Loft your new home
99 Otis Street in East Cambridge is a loft-lover’s dream come true. It offers 1,946 sq. ft. of light-filled luxury, 2 bedrooms, 2.5 baths and 2 garage parking spaces. Built in the landmark St. Hedwig’s Church, the home has preserved the beautiful arched windows and soaring ceilings. This loft features hardwood floors and an open [...]
Advice for buying foreclosures
This month’s issue of Fortune featured some good advice for those buyers looking to enter the wild world of foreclosures. We are seeing more foreclosures in the Boston real estate market, and this may be a great opportunity to jump…just watch out for the landing.
1. Consider paying cash: Some foreclosure transactions will require you to [...]
Home Sales Fall 18.4% in November
According to the latest market report from Warren Group, single-family home prices for the month of November fell 16.7 percent to a median of $275,000 in Massachusetts, the steepest decline in more than 20 years. The number of single-family sales plunged by 18.4 percent in November compared to the same period in 2007. We are [...]
Boston’s mid-range crunch
Boston is supposed to be a buyers’ market, right? Well, buyers’ vs. sellers’ markets are very specific to precise location and price-range. We have be seeing a surge in high-end properties over the $1.5m mark. There has been a surge of luxury development in the downtown Boston area and buyers in this price-range are seeing they [...]
Existing-Home Sales, Prices Tumble Again
Existing-home sales fell 8.6 percent to a seasonally adjusted annual rate of 4.49 million units in November, down from 4.91 million in October and 10.6 percent below the 5.02 million units in November 2007, NAR reported yesterday. Sales declined in all four U.S. regions, and they have now reached their slowest pace in more than [...]
November New-Home Sales, Prices Fall
Sales of new single-family homes in November were at a seasonally adjusted rate of 407,000, 2.9 percent below the October rate of 419,000 and 35.3 percent below the November 2007 estimate of 629,000, according to the latest figures released by the U.S. Commerce Department.
The median sale price of new homes sold in November was $220,000, [...]
Drops In November Home Prices and Sales
The median price for homes sold in November in Massachusetts plummeted 16.7 percent to $275,000, the largest single monthly year-over-year price decline since Banker & Tradesman, began tracking the housing market in 1987.
Home sales in November hit a dubious record of their own. After climbing for two straight months, sales tumbled 18.4 percent last month [...]
