The Importance of Being Pre-Approved for your Massachusetts Home Purchase - 04/10/09 06:01 PM
If you have begun the process of searching for a home in Massachusetts you have probably learned that the first step in this journey is obtaining a pre-approval from a bank.  A realtor may have suggested that you get "pre-approved" and this step is vital in today's home buying market.  
What, exactly, is a pre-approval?  
You may have started the process by going to on-line sites like Lending Tree to put bids out to receive competitive programs that fit your needs or Bankrate.com which has all of the current mortgage rates. 
The actual pre-approval is a letter from a lender stating that you … (3 comments)

Second Home Sales Decline - Massachusetts Blog - 04/01/09 10:26 PM
Although the sales of single family homes in Massachusetts have picked up recently, one category of the market continues to suffer - vacation homes and investment properties. 
Sales of vacation and investment homes plunged to 30 percent of all transactions in 2008 according the National Association of Realtors this week. 
The market share of homes purchased for investment was 21% last year, unchanged from 2007 while another 9% were vacation homes, compared with a 12% market share in 2007. 
Tighter lending standards and a struggling economy are factors that are being blamed. It is not unexpected that vacation home sales would … (2 comments)

 

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