Loft New Development, FP3 is Now Fannie Mae Approved
FP3, one of Boston’s hottest loft buildings, now passes the Fannie Mae standard for mortgage guidelines as the number of units sold is now more than 51 percent. In the past 6 months, FP3 gained great momentum and sold over 24 units!
“This is a great opportunity for buyers to procure conventional financing, which is much [...]
Filene’s Site Developer and Mayor Manino Going Head to Head
Mayor Thomas M. Menino is threatening revoke permits for the stalled downtown Filene’s redevelopment and is accusing one of the developers, the Boston Globe reports.
Menino’s move comes after comments made in New York by Vornado Realty Chairman Steven Roth, which Menino said indicate Vornado is deliberately stalling work in a gambit to get government funding, [...]
Bushari Group’s Mara Tamaroff makes Boston Herald’s Top 10 Women in Real Estate List
Mara Tamaroff, Bushari Group Real Estate’s Marketing and Client Relations Specialist, made the Boston Herald’s Top 10 Women in Real Estate list! Congratulations Mara for all your hard work and dedication. Mara is a co-founder of Bushari Group Real Estate and diligently works to both grow the company and maintain the highest level of customer [...]
Seaport District Loft Is A Great Deal
Penthouse 202 at 25 Channel Center Street offers soaring ceilings and walls of glass from all rooms with panoramic city and water views. This loft has an open floor plan, large kitchen with Viking & Sub Zero appliances, fireplace and a large balcony. The large master bedroom has soaking tub and a separate shower. 2 [...]
Loius Boston is Open at Fan Pier
Taking on the essence of a New York style high fashion retail store with its high ceilings, light and open space, the opening of the new LOUIS at Fan Pier created a pulse of excitement in the Seaport District neighborhood.
LOUIS now located in the retail space at ONE Marina Park Drive at Fan Pier.
OPEN: Monday [...]
No RESPA Violation for Closing Discount
Many Boston Developments, such as The W, The Clarendon and Battery Wharf have their own preferred lenders, mostly to assure financing of a new construction development with less than 50% sold or under agreement condos. The buyer always get to choose who the lender will be and the developer may ask, just in case that the buyer’s lender cannot obtain the loan, to apply with the developer’s preferred lender. In my opinion, it is a win-win situation for both the buyer and the developer; the buyer gets the unit he wants (and sometime a discount) and the developer gets a peace of mind knowing that financing will go through with no problems.
Forbes Magazine says Boston #1 Place to Buy!
For people who want to own a home, the premium to buy—the spread between what they’d spend to rent and what they’d pay for a mortgage—is much lower than the 15-year average in many cities.
To determine what cities are smart buys, Forbes magazine computed the premium and also identified locales where economists predict home prices [...]
FHA Toughens Down Payment Rules
The Federal Housing Administration will raise the minimum down payment for its least credit-worthy borrowers, the agency announced Tuesday.
The change is among a number of major changes the FHA is making to ensure its long-term financial soundness.
Borrowers with credit-rating scores below 580 will be required to put down at least 10 percent. Those with a [...]
39% of Recent Buyers Used FHA Loans
According to the most recent REALTORS® Confidence Index, 39 percent of recent buyers purchased a home with a Federal Housing Administration-insured loan. REALTORS® who took part in the November survey also reported that the number of first-time home buyers continued to climb to 51 percent.
“FHA helps provide affordable mortgage financing to home owners, particularly first-time [...]
U.S. Home Values Stabilizing
U.S. home values remained unchanged in October from the previous month, and they were 5.7 percent lower than a year ago, reports Zillow, the Web-based home listing and valuation service. That marks the lowest level of annual depreciation since December 2007.
The Zillow Home Value Index was $190,600 at the end of October, down 20.4 percent [...]
