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 [...]
Pending home sales in April showed a 6.7 percent jump from March numbers, and a 3.2 percent increase from April 2008 transactions according to The Pending Home Sales Index, a forward-looking indicator of the real estate market based on contracts signed. Geographical breakdown: Northeast: The idex jumped 32.6 percent month over month and .8 percent [...]
Boston Real Estate 2009 1st Quarter Report The 2009 city wide report of Boston Real Estate, created by Link Boston, is showing some key trends that indicate it’s still a strong buyers market: 1. Sales in the first quarter of 2009 have fallen 33.4% since 2008, with 339 transactions compared to 509 in the 1st quarter [...]
There are always trends within markets. Even in this recession, we are seeing a significant upward swing in multi-family home sales, which can produce instant cash flow for owner/occupants or investors. While single-family homes and condos linger on the market, multi-family properties are practically flying off the shelves in the Boston area. Lower prices and interest [...]
THE END OF A WASTEFUL ERA It’s about time we’ve ended the era of careless spending, precarious debt and risky trading. Three major structures: the credit market, the banking market and the political machine have poisoned the heart and soul of the American economy. The heart, which pumped the life-blood into our economy, was tainted through several [...]
The Wall Street Journal recently found that slightly more than 10 percent of borrowers who took out FHA loans in the 1st quarter of 2008 were at least two months behind within the first 10 months. That is up from a 9.4 percent rate seen a year earlier. These numbers may be up because FHA [...]
This week the Fed continued it’s buying binge, purchasing $5.15 billion of Fannie Mae, Freddie Mac and Federal Home Loan Bank’s debt this Monday. This is the eighth purchase of government securities since a buyback policy was announced last month. As part of a bid to help lower borrowing costs, the Fed purchased about $60 [...]
If a home or a condo is being sold for below what the seller owes on the property, and the seller doesn’t have other funds to make up the difference at closing – the sale is considered a Short Sale. Many home owners are finding themselves in this situation due to a number of factors, [...]
With the economy in the tubes and job losses on the rise, Bostonians may be happy to know that our city made the Ajilon Professional Staffing list of the top U.S. cities to find a job. The Ajilon study is based on data from the U.S. Bureau of Labor Statistics’ Metropolitan Area Jobs Report, as [...]
Boston was ranked #7 as one of the best real estate markets in the country. New York City, Washington D.C., and Charlotte, rounded up the top three, with Las Vegas listed as the weakest market in the nation. Cities were ranked according to the S&P/Case-Shiller home price index. Released monthly, the index examines repeat home sales in 20 [...]
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