Mass Mortgage Rates Still Highest In Nation
Even though the average 30-year mortgage rate in Massachusetts fell to 5.57 percent last week from 5.68 percent the week prior, rates in the Bay State are still the highest in the country, tied with Illinois, according to online mortgage tracker Zillow.
Nationwide, the average 30-year mortgage rate last week was 5.48 percent, down from 5.58 [...]
Falling Home Prices Hit Wealthy Neighborhoods
Up until recently, home prices in many wealthier neighborhoods continued to hold their own while prices in other locations around the country slumped. But that’s beginning to change. In 2009, home prices in such tony zip codes as Chicago’s Lincoln Park and New York City’s Greenwich Village are on track to fall 15 percent to [...]
New-home Sales Remain Flat in May
New-home sales remained essentially flat in May at a seasonally adjusted annual rate of 342,000, which is just 0.6 percent below a revised April rate of 344,000, the U.S. Commerce Department reported this morning. But that’s still 32.8 percent below the May 2008 estimate of 509,000.
The median sale price of new homes sold in May [...]
Report: Where Will Housing Be in 2012?
According to a special housing report in Business Week, home prices will continue to fall this year, and then they will stabilize before rebounding in 2012 as the nation’s economy recovers. The report, Where Will Housing Be in 2012?, also highlights seven local markets: Boston, Mass; Omaha, Neb.; Seattle; Nashville, Tenn., Saratoga, N.Y.; Salt Lake [...]
1850 Auction sells all 35 units
The auction was lots of fun to watch and i wasn’t surprised to see all 35 units sell. I suspected to see the units sell for about 75% of asking and i was almost right. The average went from 61% all the way up to almost 80% of asking with the majority of [...]
Boston made it to Forbes Magazine’s top 10 cites
Where are the best cities to live in the United States if you want to work hard and get ahead?
Forbes magazine examined the nation’s 40 largest metropolitan statistical areas and based on the number of Forbes’ 400 best big companies and 200 best small companies that are headquartered in each, it identified what it considered [...]
Breaking News: Home Buyer Tax Credit Could Expand
A first-time home buyer tax credit of up to $8,000 has helped to move housing inventory during an otherwise sluggish real estate cycle. Now both legislators and the business community are hoping to build on the incentive’s success by expanding it.
A number of bills have been introduced in the House and the Senate that lobby [...]
FHA and the Sub-Prime Monster
Many people agree that the problems we are seeing in the real estate market today were mostly caused by overly aggressive sub-prime lending. The banks and private sector lenders have been given a “get out of jail free” card thanks to President Obama’s huge bailout packages. The banks, people say, are simply “too big to [...]
South Boston Condos at Washington Village Andrew Square
Prior to South Boston’s annexation to Boston, Andrew Square was known as “little Neck” due to its thin, natural passageway, which was once the only gateway into Boston from the south. It was a rural area throughout the 17th and 18th centuries, with large farmsteads and Greek revival homes scattered along the main route of [...]
NAR: FHA Market Share Must Be Supported
The National Association of REALTORS® urged Congress to invest resources that will ensure FHA’s continued role in stabilizing housing. A large portion of today’s home buyers would be unable to realize their dreams of homeownership without the Federal Housing Administration’s mortgage insurance program, NAR says.
FHA’s market share has grown from less than 3 percent to [...]
