boston area real estate: How much would you pay for this building? Sign of the times...
- 03/31/09 10:01 AM
The image you are looking at is the Hancock Building in downtown Boston. It was sold today at a foreclosure auction. What would you bid for this landmark? In 2006, this commercial investment was worth around $1.2 billion to a group of investors who purchased it, hoping for a solid CAP rate and increased rents from the various businesses leasing space in the tower. Like many properties purchased before the bubble burst, their goals were not reached, they fell behind on payments, and ultimately ended up in foreclosure. What did it sell for today? A paltry $660.6 million. In case you … (1 comments)
boston area real estate: MA home buying 101: assessed value vs. appraised value
- 12/03/08 11:56 AM
If you are in the market for Massachusetts real estate, you will sooner or later come across the terms assessed value and appraised value. Is there a difference between an assessment and appraisal? If so, how will this difference affect you and your ability to purchase real estate? Definition of assessed value: the worth or value of a piece of property as determined by the taxing authority for the purpose of levying an ad valorem (property) tax. In Massachusetts, each town has a tax assessor, and this person is responsible for determing the value of each parcel of land and its … (2 comments)
boston area real estate: When will housing prices improve?
- 06/11/08 08:35 AM
Home sales are way down, that much we know. Sales closing in March of 2008 were down almost a third from the same time frame a year earlier. How come? Without knowing all the facts, one would first point to the struggling economy. Recession fears are all over the news right now. Is that the problem? No. Boston’s economy continues to improve, and although there have been some layoffs in the financial services industry, job growth in our area remains steady. Popular sectors still hiring and growing in the Boston area are high tech and biotech firms. In fact, the economy … (4 comments)
Related Links:
John Morrison
Exclusive Buyernulls Agent, CBR - Boston Area Real...
The image you are looking at is the Hancock Building in downtown Boston. It was sold today at a foreclosure auction. What would you bid for this landmark?
;)
;)
