Back Bay Mansion Is Offered For Purchase At $20M
One of a kind, first block Comm Ave, mansion is offered for purchase at a whopping $20,000,000. This amazing home is located at 15 Commonwealth Avenue (Sunny Side) over looking the Comm Ave mall. The home is approximately 15,000 square feet, 50 feet wide manor and 5 stories high. The building has incredible finishes and [...]
Freddie Mac Calls for Appropriate Comparables (Finaly)
A July 10 lender bulletin from Freddie Mac says appraisers “must be familiar with the local market,” select “appropriate comparable sales,” and certify them as “most similar” to the property in question.
The bulletin also says appraisers are not required to use distressed properties in their comparable sales analysis unless they represent a good number of [...]
The Impact of Interest Rates On The Value Of A Home
Some home buyers are sitting on the sidelines waiting for housing prices to hit bottom. It makes sense to buy a house at the lowest price possible but there are other critical considerations to keep in mind. Trying to time the bottom of any market is always difficult. Also, interest rates are at historic lows, [...]
Boston-area home prices rose 3.7% in May
Boston-area home prices rose 3.7 percent in May, offering a rare piece of positive news in a housing market that has tumbled some 10.8 percent since its peak in 2006.
The local real estate data was part of a broader study of home prices that showed a 1.6 percent increase in the United States from the [...]
New York City Housewife is Selling Her Home
“REAL Housewife” Jill Zarin just put her famously over-decorated apartment on the market for a hefty $3.2 million, reports The Post’s Jennifer Gould Keil. The three-bedroom, 3½-bath Upper East Side pad, with 1,956 square feet, got an extensive, and gaudy, renovation on TV, thanks to her hubby Bob Zarin’s firm, Zarin Fabrics, and her designer [...]
1330 Roof Deck and Pool is now Open
The 1330 Boylston is a new Luxury building located across from Fenway Park. It will be joining its neighbor across the street, The Trilogy, as one of the premier rental buildings in the city. All the units are new and the building is not even a year old yet. Besides the great location, [...]
Longer Marketing Time For The Luxury Market
America’s high-end neighborhoods could feel the pain as homes linger on the market and prices slide.
There are more than 60,000 homes priced above $1 million listed on Realtor.com with the inventory at levels far above the national average of 10 months.
Some observers predict that big inventories in formerly protected enclaves will drive down prices as [...]
Another Rash of Foreclosures Coming Soon
Some economic observers are predicting another wave of foreclosures later this summer or in the fall. That’s because lenders that have held off on foreclosures as part of President Obama’s plan will now move forward aggressively to clear the backlog of troubled mortgages.
Rising foreclosures will further depress home values, says Mark Zandi of Moody’s Economy.com, [...]
Top 10 Cities With Most Price Reductions
Real estate research site Trulia.com says 24.6 percent of current homes on the market in the United States as of July 1, have had at least one price cut, totaling $27.1 billion in reductions.
The average price-reduced home has had a 10.4 percent reduction, down slightly from 10.6 percent as of June 1.
Some areas appear to [...]
Renting Vs. Buying
Many people have asked me: what’s more cost effective: renting or buying? Now, that always depends on your personal situation but here are the two fundamental elements you need in order to buy.
1. Down payment: most mortgage lenders are beginning to require that buyers have at least 20% of the purchase price to put down [...]
