Massachusetts Foreclosures Break Another Record
I want to stop writing this type of headline quarter after quarter. This news from a press release just out from foreclosuresmass.com. This comes on the heels of the National Association of Realtors report that pending home sales dropped to a new low…which was immediately followed by a report, from the same organization, that said [...]
Massachusetts Residential Market Takes a Beating
The Warren Group reported today that Massachusetts housing prices worsened and both sales and values declined substantially again in March (08).
single-family homes in Massachusetts fell more than 10 percent in March, the second-steepest price drop since The Warren Group began recording prices in 1987. The last time prices declined by more than 10 percent was [...]
What Are the Best Neighborhoods for Multifamily Investment
Location, location, location right? Or is it income, income, income? Some would say you don’t have one without the other but then the competition pushes down the return. So where to invest? There are a number of good choices in and around Boston but what I’d like to do is get location down to a [...]
Boston Apartment Building Sales Slow
You don’t have to be an economist or a statistician to see that there are a lot of apartment buildings on the market right now. Pick up tomorrow’s Globe and look in the income property section and there are more buildings listed there than I have seen in 6 years, at the same and sales [...]
Market Snapshot: Somerville, MA Multifamilies
I like to take a look on a regular basis at data and get a feel for what’s happening in real time versus just what’s being reported to me in a general sense. Tonight I looked at Somerville, MA multifamilies. This is an area where I began my career and where I’ve sold a number [...]
Top Brass Weighs in On Home Prices
The New Housing Starts numbers came out today and as you might expect they were at their lowest point since March 1991. Buried in one of the articles I was reading was a crystal ball owner, the CEO from JPMorgan Chase.
“It’s hard in almost all these mortgage areas to say exactly what’s going to happen [...]
Massachusetts - You Made the List
Some Massachusetts communities have made the list of those with special financing restrictions from Genworth Mortgage Insurance. Mortgage insurance (commonly known as PMI )providers help to mitigate lender’s risks by insuring the difference between a buyer’s down payment and 20% of the homes cost. If for example you were to put 5% down to buy [...]
Boston.com Reports That “Homes May be Nearing the Bottom” - Multis Too?
Applebaum (not to be confused with Papelbon) of the Boston.com and the Globe reports that
Sales of single-family homes in Massachusetts remained in a deep rut in February, 19 percent below sales in the same month last year, but in a sign that the worst may be upon us, the depth of the rut did not [...]
Existing Home Sales Surprise
What do you want first the good news or the “other” news? OK, the good news first.
The good news is that existing home sales were reported to be up in February for the first time in 7 months as reported by the NAR today at 10AM. Purchases increased 2.9% to an annual rate of 5.03 [...]
Vote on Housing: Blocked by GOP Senators
Let me say for the record that I’m an Independent and for the most part you won’t see me get political on this blog, but…
WASHINGTON – Senate Republicans blocked a test vote on a housing bill yesterday that would have allowed bankruptcy judges to alter terms of certain mortgages in foreclosure.
Senate Democrats fell more than [...]
