real estate market conditions home buying home selling: Former Boston Symphony Orchestra Music Director Sells Newton House For $5M
- 11/12/10 07:07 AM
Seiji Ozawa, the longest-serving music director in Boston Symphony Orchestra history, has sold his Newton home for $5 million. Ozawa, and his wife Vera, sold the 2,028-square-foot, contemporary style home at 33 Crestwood Road to Jennafer Inker late last month. The Ozawas purchased the three-bedroom, three-bathroom home with three fireplaces in 1999, according to data from The Warren Group, publisher of Banker & Tradesman. The home at 33 Crestwood Road and two parcels of nearby land owned by the Ozawas was last assessed in fiscal 2010 for a total of about $4 million. He served as music director of the Boston … (0 comments)
real estate market conditions home buying home selling: 30-Year Mortgage Rates Inch Up.
- 11/05/10 08:28 AM
Freddie Mac confirms that average interest for 30-year fixed mortgages rose for the third consecutive week, bumping up to 4.24 percent from 4.23 percent a week ago. The average 15-year rate for the week ended Nov. 4 was 3.63 percent, a drop from 3.66 percent. Scott Brown, chief economist at Raymond James & Associates Inc., says this week's Federal Reserve actions "aren't going to change the economy right away, but they should help keep mortgage rates low for quite some time." … (0 comments)
real estate market conditions home buying home selling: New Home Sales Rise 6.6 Pct. After Dismal Summer.....
- 10/27/10 05:58 AM
Sales of new homes nationwide improved last month after the worst summer in nearly five decades, but not enough to lift the struggling economy. The Commerce Department says new home sales in September grew 6.6 percent from a month earlier to a seasonally adjusted annual sales pace of 307,000. Even with the increase, the past five months have been the worst for new home sales on records dating back to 1963. Paul Dales, U.S. economist with Capital Economics, called the September home sales encouraging. But he said it doesn't change the fact that activity remains at extremely low levels. "That's unlikely to … (0 comments)
real estate market conditions home buying home selling: October Housing Scorecard Shows Homes Are More Affordable
- 10/26/10 10:14 AM
The Obama administration's October edition of the Housing Scorecard show continued signs of stabilization in house prices and high home affordability due in part to record-low interest rates, according to the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury. "Over the last 21 months, the Obama administration's swift action in the housing market has kept millions of families in their homes and provided responsible borrowers with incentives to refinance or to become a homeowner," said HUD Assistant Secretary Raphael Bostic. "But, with many unavoidable foreclosures still in the pipeline, it's clear that we have … (1 comments)
real estate market conditions home buying home selling: 10% Jump in September Existing-Home Sales!
- 10/25/10 01:18 PM
10% Jump in September Existing-Home Sales Existing-home sales rose again in September, affirming that a sales recovery has begun, according to the National Association of REALTORS®. Existing Home Sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, rose 10 percent to a seasonally adjusted annual rate of 4.53 million in September from a downwardly revised 4.12 million in August, but remain 19.1 percent below the 5.60 million-unit pace in September 2009 when first-time buyers were ramping up in advance of the initial deadline for the tax credit last November. Lawrence Yun, NAR chief economist, said the housing market … (0 comments)
real estate market conditions home buying home selling: Mortgage Rates Edge Up!!!
- 10/25/10 04:20 AM
Interest on the 30-year fixed mortgage averaged 4.21 percent this week, up from a record low of 4.19 percent a week ago, reports Freddie Mac. Rates for 15-year fixed loans also rose, climbing to 3.64 percent from 3.62 percent. However, the five-year adjustable-rate mortgage fell to a record low of 3.45 percent, after averaging 3.47 percent the previous week.Source: Columbus (Ohio) Dispatch (10/22/10) … (0 comments)
real estate market conditions home buying home selling: Bay State Foreclosure Petitions Drop In September; Foreclosure Deeds Climb
- 10/21/10 10:02 AM
The number of foreclosures started by lenders in Massachusetts during the month of September declined from a year earlier, according to a new report by The Warren Group, publisher of Banker & Tradesman. The September number was also lower than the total foreclosures recorded in August. In September, lenders filed 2,358 petitions to foreclose - which marks the first step in the foreclosure process in Massachusetts - a 6.7 percent drop from 2,527 a year earlier. Foreclosure petitions in September also dropped about 20 percent from 2,961 in August. Foreclosure petitions have exceeded 2,000 since February. A total of 20,964 foreclosure … (0 comments)
real estate market conditions home buying home selling: Mortgage Applications Slump As Rates Rise From Lows
- 10/20/10 05:13 AM
Mortgage applications nationwide slumped last week as interest rates on 15- and 30-year fixed-rate mortgages rose for the first time in six weeks, data from an industry group showed on Wednesday. Interest rates, however, are not far from record lows and the drop in demand does not bode well for the housing market, which has been showing signs of improvement but remains highly vulnerable to setbacks. The Mortgage Bankers Association (MBA) said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended Oct. 15 decreased 10.5 percent. The four-week moving average of mortgage … (1 comments)
real estate market conditions home buying home selling: Regulators Advancing Joint Foreclosure Review!
- 10/19/10 05:18 AM
Regulators are teaming up and advancing their review of banks' and mortgage servicers' foreclosure practices to determine whether individual homeowners were improperly kicked out of their homes. Acting Comptroller of the Currency John Walsh said on Monday that teams from his agency, the Federal Reserve and the Federal Deposit Insurance Corp. are working together to determine the extent of the problem related to allegations that banks failed to comply with state laws as they completed foreclosure proceedings against delinquent borrowers. Walsh said the regulators are now going into the large servicers - which include Bank of America, JPMorgan Chase and Citigroup … (0 comments)
real estate market conditions home buying home selling: 30-Year Mortgage Rates Plumb New Depths!!!
- 10/15/10 08:46 AM
Freddie Mac reports that the average interest on 30-year fixed mortgages slipped to an all-time low, for the third consecutive week, to 4.19 percent. At the same time, 15-year fixed-rate loans and the five-year adjustable-mortgage rate both also hit record lows. Rates on the former were 3.62 percent, while the latter averaged just 3.47 percent.Source: The Wall Street Journal, Nathan Becker (10/15/10) … (0 comments)
real estate market conditions home buying home selling: Banks Seize 288K Homes In Q3, But Challenges Await
- 10/14/10 05:14 AM
Lenders seized more homes nationwide this summer than in any three-month stretch since the housing market began to bust in 2006. But many of the foreclosures may be challenged in court later because of allegations that banks evicted people without reading the documents. A total of 288,345 properties were lost to foreclosure in the July-September quarter, according to data released Thursday by RealtyTrac Inc., a foreclosure listing service. That's up from nearly 270,000 in the second quarter, the previous high point in the firm's records dating back to 2005. Banks have seized more than 816,000 homes through the first nine months … (0 comments)
real estate market conditions home buying home selling: Three Scenarios From the Foreclosure Freeze
- 10/13/10 08:41 AM
Three Scenarios From the Foreclosure Freeze Gregor Watson, a principal with McKinley Partners, a development company that buys foreclosed homes, told listeners on a Citi home-builder conference call that there were three potential outcomes from the foreclosure fiasco: · Best case: These are technical issues that can be resolved quickly so the foreclosure process can continue and the glut of foreclosed homes is cleared from the market. · Medium case: There is significant litigation that takes years to sort out and this slows the troubled housing market even further. · Worst case: The market grinds to a halt and title insurers … (0 comments)
real estate market conditions home buying home selling: Sellers Nationwide ‘Aggressively' Cutting Prices As Market Heads Into Slow Season
- 10/07/10 07:11 AM
Almost half of MLS-listed homes in 26 markets nationwide had their listed price cut at least once in September, according to a new report from California-based national real estate brokerage ZipRealty.According to the Price Reduction Index, ZipRealty's monthly review of MLS-listed properties in 26 markets surveyed by the brokerage, list prices were cut at least once for 47.8 percent of homes on the market in September, an increase of almost 10 percent over the same month last year. September also had more discounted homes for sale than August, with the number of price-reduced homes on the market up 2.1 percent, according … (0 comments)
real estate market conditions home buying home selling: 4 Tips for Setting the Right Sales Price.
- 09/20/10 08:57 AM
Sellers think their homes are worth more than their real estate professional recommends, and buyers think these same homes are worth less. It’s a difficult disconnect that makes selling properties a challenge. Successfully marketing a home requires that the price be set carefully -- or it will languish on the market. Among the considerations: How many homes are for sale in the neighborhood? The more homes on the market, the more important it is to list at the lower end of the scale. "I want buyers to ask why is this house priced so competitively," said NAR President-elect Ron Phipps of … (1 comments)
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The owners of the former Filene's site in Boston's Downtown Crossing will need to submit a new project proposal if they plan to build anything on the blighted street corner.
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