real estate market conditions: Mortgage Bankers Association: Home Purchase Mortgages Buoy Applications
- 11/24/10 04:53 AM
Nationwide mortgage applications for home purchases rose to their highest level in more than six months last week, buoying activity otherwise weighed down by waning refinancing, an industry group reported on Wednesday. The Mortgage Bankers Association's (MBA) seasonally adjusted purchase applications index jumped 14.4 percent to 205 in the week ended Nov. 19, the highest since the week ending May 7, the MBA said on Wednesday. The refinancing index slumped 1 percent to 3,793.6. The composite index, which includes loans for home purchases and refinancings, increased 2.1 percent to 728.8, the MBA said. "The increase in purchase applications last week aligns … (0 comments)
real estate market conditions: Foreclosure Mess Impact Could Be Worse Than Previously Thought For the RE Market
- 11/16/10 06:27 AM
Widespread problems in how the nation's lenders documented foreclosures could spark a wave of legal challenges resulting in massive losses to banks and serious new troubles for the housing market, a federal watchdog warned today. The Congressional Oversight Panel, the overseer of the government's Wall Street bailout, in its latest report laid out a range of possible outcomes for the foreclosure paperwork mess that emerged in September. In the best-case scenario, the watchdog said, concerns about the paperwork mess are "overblown" and banks would be able to proceed with foreclosures as soon as invalid court documents were replaced with proper paperwork. … (2 comments)
real estate market conditions: October Foreclosures Fall As Processing Stalls
- 11/11/10 05:31 AM
The number of homes taken over by banks nationwide fell 9 percent in October as foreclosure processing was stalled by questionable paperwork, real estate data company RealtyTrac said on Thursday. Banks foreclosed on 93,236 properties in October, sharply lower than September's record high above 100,000 homes, RealtyTrac said. There were 332,172 total foreclosure filings in October, 4 percent lower than September and about the same level as a year earlier. "The numbers probably would have been higher except for the fallout from the recent 'robo-signing' controversy," said James J. Saccacio, chief executive officer of RealtyTrac. Saccacio said he expects further declines … (0 comments)
real estate market conditions: Top 5 Most Expensive U.S. Commercial Sales
- 11/08/10 03:35 AM
As Google contemplates buying its New York City headquarters for $2 billion, AOL’s Daily Finance takes a look at the five largest commercial real estate deals in U.S. history. All of them, it turns out, are in Manhattan.1. Stuyvesant Town: $5.3 billion These 110 building, 14-story, rent-stabilized apartments were sold in a deal that closed right before the real estate meltdown. Since then, the buyers have turned the property back to their creditors.2. GM Building: $2.8 billion This is the single most expensive purchase of an individual building ever. Boston Properties, Goldman Sachs (GS), and Meraas Capital purchased it in 2008.3. … (0 comments)
real estate market conditions: The Worst Time to Sell is the Best Time to Buy!!!!Bay State Pending Home Sales Decline For Sixth Straight Month
- 11/04/10 05:05 AM
The number of single-family homes put under agreement in October was down 22 percent over the same time last year, while condominiums were down 31 percent, according to a new report from the Massachusetts Association of Realtors (MAR). A total of 3,631 single-family homes were put under agreement in October, down from 4,652 during the same month last year. This marks the sixth straight month that year-over-year pending sales have gone down. On a month-to-month basis, single-family homes put under agreement were essentially flat, up 0.6 percent from 3,609 homes in September. "While the uptick in pending home sales from September … (0 comments)
real estate market conditions: Abbey Group Secures 3-Year Financing Extension For Boston's 45 Province
- 10/05/10 05:53 AM
Boston-based real estate development firm The Abbey Group has secured a three-year extension of financing from German lender Helaba Bank for the firm's 45 Province development in Boston's Downtown Crossing neighborhood. According to a statement from Abbey, sales activity at the 32-story condominium tower was brisk over the summer, with a dozen units coming under agreement or sold since June. "The Abbey Group's commitment to 45 Province and the Boston residential market has been unwavering," Christian Ritter, executive vice president of Helaba Bank, said in a statement. "We have great confidence in their product and in their new marketing team, and … (0 comments)
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Nationwide mortgage applications for home purchases rose to their highest level in more than six months last week, buoying activity otherwise weighed down by waning refinancing, an industry group reported on Wednesday.
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