Boston Real Estate Appraisal

bostonrealestateblog.bushari.com did a good write-up today.

42 Chauncy Street #2-3 AB is one of the most unique & dramatic Boston loft residences. Features a duplex layout with a wonderful open living space, spiral stairway, soaring 18 ft ceilings & marvelous structural detail. Enormous arched glass window. Granite/stainless kitchen. W/D. 2 baths w/ hookups for a 3rd. Located in the Heart of Downtown Boston, steps from the ‘T’, shopping, restaurants & entertainment. Awaiting your personal touch.
This amazing Boston loft is offered at $995,000 ($337 per square foot!!!), approximately 2937 square feet of open space with amazing windows.

Short Sale - Subject to Bank Approval.
Search for Boston Lofts
Call us at 617-529-7079 to schedule a private preview.
Property is listed by  Declan O’Toole of Home run Realty
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Tags: Boston Real Estate, Boston Lofts by bomber
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Foreclosure activity rose 5 percent in October from the previous month and was 25 percent higher than October 2007, according to the latest report from RealtyTrac, an online marketer of foreclosure properties. Foreclosure filings — which include default notices, auction sale notices and bank repossessions — were reported on 279,561 properties for the month, or one in every 452 housing units in the U.S.
October marks the 34th consecutive month where foreclosure activity has increased compared to the prior year. Nevada, Arizona and Florida posted the highest foreclosure rates in October.
James J. Saccacio, chief executive officer of RealtyTrac, says recent legislation aimed at stemming the tide of foreclosures has helped in some states, but it may not be enough. “While the intention behind this legislation — to prevent more foreclosures — is admirable, without a more integrated approach that includes significant loan modifications, the net effect may be merely delaying inevitable […]
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Tags: Real Estate News, Boston Real Estate, Real Estate Trends and Statistics by bomber
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This morning I saw a pretty good post.
Here’s a quick excerpt:

Coldwell Banker offices in Lincoln and Somerville are among a handful of the brokerage’s New England offices accused of more than 100 violations of lead paint disclosure laws.
According to the Environmental Protection Agency, Coldwell Banker Residential Brokerage offices in Lincoln and Somerville; North Haven and Fairfield, Conn.; Dover and Manchester, N.H.; and East Providence, R.I., together committed 102 violations of the Lead Disclosure Rule during 34 real estate transactions between 2005 and 2007. The corporations that own and operate the offices face penalties of up to $11,000 for each violation cited in the complaint.
Federal law requires that landlords and property owners or their agents notify prospective tenants or purchasers about the potential for lead paint hazards in residential properties, the EPA said in a statement.
The two real estate corporations that own the aforementioned offices are NRT New England LLC and Coldwell Banker Real Estate Services LLC, according to the EPA. […]
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Tags: Real Estate News, Boston Real Estate by bomber
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Elad Bushari blogged about a good topic today on bostonrealestateblog.bushari.com.

The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit will remain $417,000 for 2009 for most areas in the U.S. but specified higher limits in certain cities and counties.  The conforming loan limit is the maximum size of loans that Fannie Mae and Freddie Mac can purchase in 2009.
According to provisions of the Housing and Economic Recovery Act of 2008 (HERA), the national loan limit is set based on changes in average home prices over the previous year, but cannot decline from year to year.  Loan limits for two-, three-, and four-unit properties in 2009 will remain at 2008 levels as well: $533,850, $645,300, and $801,950 respectively, for homes in the continental U.S.
The national limit was left unchanged at $417,000 based on declines in FHFA’s monthly and quarterly house price indexes over the past year.  The monthly purchase-only index declined 5.9 percent over the 12 months ending […]
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Tags: Boston Real Estate, Mortgage and Finance by bomber
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You have all heard that Boston foreclosures are everywhere. You have also probably noticed that finding a consolidated list of them is practically impossible. There are, of course, the foreclosure websites such as RealtyTrac.com and Foreclosure.com; however, these sites are often not updated and carry a hefty price for info. If you are serious about finding a good foreclosure deal, first find a good buyers’ agent. Not only can buyers’ agents find foreclosures easily on their MLS and LINK systems, a good one will have experience researching the foreclosure properties and negotiating with banks. Negotiating with a bank is not at all like negotiating with an individual. Purchasing a foreclosure can be quite complicated and it is a good idea to have a professional looking out for your best interests.  
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Tags: Boston Real Estate, Boston Lifestyle, Real Estate Investment, Foreclosure by bomber
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About 40 people attended the Neighborhood Association of Back Bay (NABB) forum this month to rank their biggest complaints and best suggestions to present to Boston city officials. Some concerns that topped the list were the cleanliness of Back Bay alleys and the installation of larger street signs. Some suggestions included placing additional trash cans on Massachusetts Avenue and extending Back Bay street cleaning until November. Meeting attendees also suggested the creation of plug-in parking spots for hybrid cars.
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I came across a good post today on bostonrealestateblog.bushari.com.

According to the National Association of Realtors, pending home sales surged recently as buyers took advantage of affordable home prices and lower interest rates. The Pending Home Sales Index 1, a well respected indicator based on contracts signed during a certain period of time, jumped 7.4 percent in August to 93.4. The index showed the highest level since June 2007 when it was 101.4. The highest jump in pending contracts was seen in California, Nevada, Arizona, Florida, Rhode Island and Washington, D.C.
 It looks like interest rates are beginning to creep skyward again which should give those buyers playing the fence an extra incentive to put their dream home under contract sooner rather than later.
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This morning I saw a post that may be of interest.

Congress approved a $700 billion government bailout bill today for the nation’s battered financial industry. Congress hopes the bill will prevent the crisis on Wall Street and the mortgage industry from driving the country into deeper economic trouble. This legislation should help restore liquidity to the mortgage market and protect home owners. In the comming months, we may see some significant changes in the Boston real estate market.
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Mara Tamaroff got it right the other day.
The first bit is quoted here:

Comfortably nestled on a quiet, tree-lined street, this stunning 4,840 square foot, 4 bedroom, 2.5 bath Victorian home is only three short miles to Harvard Square. This well-maintained home boasts generous sized rooms, gorgeous mahongany woodwork throughout and exquisite original detail. Curl up with a great book next to one of the four fireplaces, and keep cool during hot Boston summers with the comfort of central air. The spacious third floor in-law apartment offers endless opportunities for expansion. 51 Garfield Street is offered at $1,325,000.

Information and photos courtesy of Less Arnold and Gibson Sotheby’s International Realty.
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This morning I saw a pretty good post.

Most of you know that the mortgage industry has hit some, well, bumps since last summer. Multiple lenders have filed for bankruptcy, eligibility requirements became near impossible and loan fees rose to cover losses. There is some good news though. The federal takeover of Freddie Mac and Fannie Mae by the U.S. goverment prompted an immediate drop in mortgage rates. In fact, 30-year loans are now well below 6 percent. Also, federal legislation has expanded the availablility of home loans, specifically by increasing the jumbo-loan mark. That said, if you have found the perfect piece of Boston Real Estate, be prepared for the stringent application process. Have your W-2’s or 1099’s ready, as well as pay stubs and tax returns, HR phone numbers and even investment account information.
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Tags: Real Estate News, Boston Real Estate, Boston Lifestyle, Boston Condos, Real Estate Trends and Statistics by bomber
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