This weekend I stopped by several open houses in buildings around the South End and South Boston. I was with a international client who is looking a condo for their son who will be attending Northeastern. Rather than pay to house him in the dorm, they are wisely choosing to buy a place as an investment. They would like to be in a semi luxury building with 2 beds/2 baths around $600,000 that is close to public transportation in Boston.…
After rising for the past several weeks, mortgage rates dropped a bit. Going forward, I expect 30 year fixed mortgages to remain in the 6's and may retest the 6.25 mark.
Link to Wall Street Journal
The tough economy is hitting more than just your average Joe Schmo from Alabama. If you are late with a few payments, this story will make you feel a little bit better. It seems as though some big rap producers are also struggling to make their mortgage payments. 50 Cent, Kanye West and Russell Simmons are certainly not in any financial trouble, but the other 2 guys on this list must need a hit bad!
Link to Forbes.com Story
Big time Newton-based developer John Rosenthal filed what he hopes will be his final plans to build over the Mass. Turnpike. The Fenway neighborhood is a hot area for development. Samuels & Associates built the Trilogy a few years ago, and are currently putting the finishing touches on another luxury apartment building at 1330 Boylston Street. Red Sox ownership and Samuels & Associates each own several other parcels of land in the…
The $7,500 first time home buyer credit is actually a loan that needs to be paid back to the IRS over 15 years. It's great that it's tax and interest free, but it does need to be repaid. Read the full description from the Boston Globe below.
Link to Boston Globe Article
As is the case in Boston right now, many other rental markets throughout the nation are seeing increased demand and higher rents. It doesn't take a genius to figure it out. People need places to live. If the sales market is slower, and lending standards are tighter, the demand for rental apartments will increase, and thus rents will go up.
Michael Rodriguez planted a "For Rent" sign one Sunday morning in the yard of a three-bedroom,…
I want to take this opportunity to congratulate my good friends Thomas & Marta on their 8/8/08 wedding. The former BU hockey stud finally took the plunge at 33 years of age. They are currently honeymooning in Italy and I wish them the best.
So here we go. I decided to dabble into the real estate blogging thing. Not sure how it will work out, but we'll see. I'll try to add informative articles related to the Boston Real Estate market and my thoughts to any postings. Feel free to email me anytime with your thoughts or opinions.