A Glimmer of Hope in Massachusetts - 08/27/07 09:41 PM
The housing market offered a glimmer of hope to those praying for a rebound in home sales in the Bay State.
The Massachusetts Association of REALTORS® (MAR) reported August 20, 2007 that the number of single-family homes sold in July was up 6.0 percent compared to the same time last year, … (0 comments)
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Massachusetts Ranks 9th in Foreclosure Filings, NH 34th - 08/27/07 09:38 PM
According to RealtyTrac, Inc., Massachusetts ranks 9th in the country in foreclosures filings.
Massachusetts saw a month-to-month increase of 48.64 percent in July 2007.
New Hampshire ranks 34th and actually saw a decline in foreclosures in July 2007 compared to June 2007. On a month-to-month basis, foreclosure filings in the … (2 comments)
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U.S. New Home Sales See Surprise Gain, But Prices Down - 08/27/07 09:37 PM
According to Commerce Department data, sales of new homes in the United States rose 2.8 percent in July, CNN Money reported August 24, 2007.
Prices were down 3.4 percent in July compared to July 2006.
"Even with the unexpected rise, the pace of sales only looked good by comparison to very weak … (1 comments)
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Foreclosure Pain Is Widespread - 08/27/07 09:32 PM
Foreclosures across the United States rose 93 percent in July compared to July 2006 and increased 9 percent compared to June 2007, the Houston Chronicle reported August 21, 2007.
"There were 179,599 foreclosure filings reported during July, up from 92,845 during the same period a year ago, Irvine-based RealtyTrac, Inc. said today. … (0 comments)
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Nobody Told The Big Apple About The Housing Slump - 08/27/07 09:31 PM
While many, but not all, of the country's real estate markets struggle, apparently no one has informed the folks in New York City.
The real estate market in the Big Apple is full-steam ahead with no end in sight. But will it end? And when it does will is crash hard? Only … (0 comments)
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Your Credit Score More Important Than Ever - 08/27/07 09:24 PM
It's not news to anyone that maintaining a respectable credit score is vital to obtaining a home loan and a competitive mortgage interest rate.
What's respectable in the current lending environment may be news to many consumers.
According to an August 26, 2007 article in the Boston Herald, underwriting standards adopted … (0 comments)
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Existing Home Sales, Prices Decline Again - 08/27/07 09:23 PM
Existing home sales across America have declined for the fifth straight month in July and home prices have dropped for a record 12th straight month, USA Today reported August 27, 2007. The National Association of REALTORS provided the data, which indicated a 0.2 percent drop in home sales compared to June … (2 comments)
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What's 'The Donald' Up To? - 08/19/07 08:18 PM
What's a real estate blog without a little Donald Trump news?
If you're concerned (or just interested) in The Donald's future, check out this CNBC video.
By the way, Trump has an opinion regarding the credit crunch. He believes the Federal Reserve should cut interest rates by a full point. See the August … (7 comments)
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Mortgage Applications Surge; Fear May Be The Reason - 08/19/07 08:10 PM
The Mortgage Bankers Association (MBA) reported August 15, 2007 that mortgage applications rose 3.4 percent from the previous week, and the number of applications was up 20.6 percent compared to the previous year. Some experts believe the spike in applications was fueled by the fear that lenders will continue to tighten … (2 comments)
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End to Tax Exemption for 'McMansions' - 08/19/07 08:09 PM
At least one influential Democrat congressman wants to eliminate the mortgage tax deduction on homes larger than 3,000 square feet as part of a larger proposal to cut global warming, the Detroit Free Press reported August 8, 2007.
U.S. Rep. John Dingell revealed the plan at a town hall meeting in Ann … (4 comments)
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NAR Predicts Slower Sales, Prices Steady - 08/11/07 04:57 PM
How is the real estate market where you are?
USA Today reported August 8, 2007 that existing-home sales in the U.S. should hit a pace of 6.04 million units this year, down from the 6.11 million units the National Association of REALTORS (NAR) predicted last month.
The NAR trimmed its sales forecast … (1 comments)
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Protect Yourself From Home-improvement Injuries - 08/11/07 04:55 PM
The rise in homeowners taking part in do-it-yourself projects around the house has also resulted in an increase in injuries around the home.
A June 24, 2007 MarketWatch article provides seven tips to avoid home-improvement injuries.
Some tips are obvious (wear protective eye gear), but others are not so obvious. If … (2 comments)
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Milton, MA Ranked No. 7 Best Place To Live - 08/11/07 04:53 PM
Milton, Massachusetts, a Boston suburb to the south, was ranked the No. 7 in Money magazine's annual best-places-to-live issue, which was published last month.
"Milton boasts a diverse population, with minorities making up 30%. All six schools have recently been rebuilt, and the library is now expanding. East Milton Square is the … (0 comments)
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Will Mortgage Crisis Lead To Fed Rate Cut? - 08/11/07 04:50 PM
Economists believe that the mortgage crisis that recently has effected the stock market could prompt the Federal Reserve to cut interest rates, MarketWatch reported August 3, 2007.
"Problems in the subprime mortgage market have spread into other parts of the home loan market, causing the private, secondary mortgage market to … (2 comments)
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Despite Cost Of Gas, Demand For Garage Spaces Up - 08/11/07 04:45 PM
Despite rising gas prices, consumers are increasingly looking for homes with garages that have two or more spaces, the National Association of REALTORS® (NAR) reported in a press release August 7, 2007."Since the last survey in 2004, oversize garages saw the biggest growth in terms of what recent buyers considered very … (4 comments)
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President Politics And The Subprime Debacle - 08/11/07 04:29 PM
Even presidential candidates can't avoid weighing in on the subprime lending debacle (also know as the people-who-never-should-have-ask-for-or-received-a-loan-in-the-first-place problem).
Don't get me wrong. Many people were taken advantage of by less-than-ethical mortgage brokers, but not everybody, and the foreclosure crisis isn't just the result of subprime lending. A lot of homeowners … (0 comments)
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Weston, MA Ranked No. 9 on Top-Earning-Towns List - 08/11/07 04:14 PM
Money magazine recently ranked Weston, Massachusetts No. 9 on a list of top-earning towns in the U.S. Money describes Weston, MA as follows:
"Great schools, low crime and quaint cultural offerings attract local sports heroes like New England Patriots head coach Bill Bellichick, Boston Celtics legendary forward John Havlicek, and Boston Red … (1 comments)
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U.S. Pending Home Sales Rise, First Time Since February - 08/11/07 07:49 AM
Reuters reported August 1, 2007 that U.S. pending home sales in June rose five percent, welcome news for a real estate market that has had little to cheer about lately.
"Pending sales of previously owned U.S. homes rose at their fastest pace in more than three years in June, a real estate … (3 comments)
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Mortgage Applications Surge - 08/11/07 07:46 AM
USA Today reported August 8, 2007 that U.S. mortgage applications jumped 8.1 percent compared to the previous week, the first increase in three weeks. The Mortgage Bankers Association (MBA) provided the data. The MBA reported that its seasonally adjusted index reached the highest point since early June. Purchase applications rose 7.4 … (0 comments)
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Mortgage Interest Rates Fall, Relief For Home Buyers - 08/11/07 07:32 AM
More than a few people have adjusted their home-buying plans because of the rise in mortgage interest rates over the Spring, so recent declines are surely welcome. The Boston Herald reported August 9, 2007 that average rates for 30-year, fixed-rate mortgage loans in the U.S. stood at 6.59 percent, a decline … (0 comments)
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Credit Score Especially Important In This Lending Climate - 08/04/07 09:26 AM
With all the recent foreclosures blamed on subprime lending (loans to those individuals with less than good credit), a solid credit score is increasingly necessary to not only get a home loan, but to get a lower interest rate.
Some mortgage brokers are using tighter lending standards and lower credit scores … (4 comments)
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Community Profiles: Saugus, MA And Rockport, MA - 08/04/07 09:24 AM
The Boston Globe real estate section recently profiled Saugus, MA and Rockport, MA.
Nine miles from Boston, Saugus was just shy of 27,000 residents in 2005 and currently has a median home price of $316,000. Its property tax rate is $8.28.Read more about Saugus, Massachusetts.
Rockport, a seaside community, is 37 … (0 comments)
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Massachusetts Taxpayers To Bailout Subprime Borrowers - 08/04/07 09:21 AM
Governor Deval Patrick's administration introduced a $250 million fund to be used to help delinquent borrowers of subprime mortgages refinance into more affordable loans to prevent them from losing their homes to foreclosure, The Boston Globe reported July 11, 2007.
"Massachusetts Secretary of State William F. Galvin said the program was 'a … (2 comments)
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Mortgage Applications Hit Five-Month Low - 08/04/07 09:17 AM
The Mortgage Bankers Association's weekly survey revealed that U.S. mortgage applications fell 0.3 percent from the previous week, reaching a five-month low, the Washington Post reported August 1, 2007.
"Applications to buy homes are unlikely to jump much any time soon, and loan approval could get even tougher, several analysts said."
Read … (3 comments)
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U.S. Home Construction Permits Fall - 08/04/07 09:15 AM
U.S. home construction rose 2.3 percent in June, but the number of pulled building permits, an indicator of future construction, fell 7.5 percent, Fox News reported July 18, 2007.
Permit activity dropped to its lowest level in 10 years, signaling more weakness in home construction across the U.S.Read This Article
Search … (1 comments)
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Wilmington, MA Real Estate Market Report - 08/04/07 08:25 AM
During the first six months of the year, the median price for a single-family home in Wilmington, Massachusetts has declined 9 percent compared to the same period in 2006, according to data I researched using the MLS Property Information Network, Inc.
Median Sales Price for Single-family Home in Wilmington, … (0 comments)
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U.S. Home Sales Decline, Markets Vary - 08/04/07 07:32 AM
The National Association of REALTORS (NAR) reported July 25, 2007 that total existing home sales in the U.S., including single-family, condominium, townhouse and co-op homes, fell 3.8 percent compared to May 2007 and dropped 11.4 percent compared to June 2006. Total housing inventory fell 4.2 percent at the end of … (0 comments)
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Westford, MA Real Estate Market Report - 08/04/07 07:28 AM
Using sales data from the MLS Property Information Network, Inc, I performed some single-family market research for some buyers looking at single-family homes in Westford, Massachusetts. Days on the Market for Single-family Homes in Westford, MA:
Comparing June 2006 with June 2007, the average number of days on the market … (0 comments)
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Massachusetts Home Sales Decline, Prices Fall - 08/04/07 07:14 AM
The Massachusetts Association of REALTORS® (MAR) reported on its Web site July 23, 2007 that the number of single-family homes and condominiums sold in the first six months of the year in Massachusetts were down 1.4 percent compared to Q1 and Q2 in 2006.
Sales of single-family homes in June 2007 … (0 comments)
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Best Cities For Young Professionals - 08/04/07 07:12 AM
Forbes magazine ranked Boston as the sixth best city for young professionals. New York City (this should not be a surprise to anyone) ranked No. 1 as the city where young professionals had the best chance to reach the corner office. New York is home to many of America's biggest and … (1 comments)
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