Residential Real Estate
Lamacchia Realty Opens Norwood Office
Lamacchia Realty has expanded again, this time to Norwood.
Remodeling Spending Expected To Continue To Increase
Nationwide spending on residential remodeling is expected to continue to increase through the third quarter of 2018, according to the Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
Fannie Mae’s Economic Forecast Unchanged By Hurricanes
The 2017 economic growth forecast remains unchanged at 2.2 percent following expected offsetting hurricane-related impacts to GDP growth in the third and fourth quarters, according to the Fannie Mae Economic and Strategic Research (ESR) Group’s October 2017 Economic and Housing Outlook.
US Housing Starts Fall To One-Year Low
U.S. homebuilding fell to a one-year low in September as Hurricanes Harvey and Irma disrupted the construction of single-family homes in the South, suggesting that housing probably remained a drag on economic growth in the third quarter.
$53M Upgrade Planned For South End Property
A $53 million permanent loan from MassHousing will be used to renovate the 181-unit Villa Victoria’s Viviendas apartments in Boston’s South End.
Housing Credit Availability Index Down In Second Quarter 2017
The Housing Finance Policy Center’s latest credit availability index shows that mortgage credit availability declined to 5.1 in the second quarter of 2017, after reaching a recent peak of 5.4 in Q1 2017.
Boston Fed President Expects 2 Percent Inflation By Next Year
Speaking at a conference in Boston Friday, Eric Rosengren said he also expects current low inflation, the main factor that could hamper projected interest-rate hikes, to get much closer to the Fed’s 2 percent target next year.
BPDA Board Approves 101 Residential Units, $363M In Development
The Boston Planning & Development Agency board of directors approved four development projects representing a combined investment of $363.3 million from developers. The projects include 101 residential units, 13 which are affordable.
Despite Popularity And Performance, Low Down Payment Loan Stigmas Persist
As home prices rise, a larger percentage of first-time buyers are putting down less than 20 percent to buy a home, according to the October Down Payment Report from Down Payment Resource.
Longest-Tenured MBREA Member Dies
The Association for Valuation Professionals announced today that Paul A. Giroux, MRA, the longest tenured member of the MBREA and a member of the Appraisal Hall of Fame, died at the age of 94 on Wednesday.
Mortgage Applications Fall As Rates Edge Upward
Mortgage applications decreased 2.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Oct. 6, 2017.
Mortgage Rates Jump Up
The 30-year mortgage rate increased for a second consecutive week, jumping 6 basis points to 3.91 percent. The 10-year Treasury yield also rose, climbing 4 basis points this week.
MassHousing Inks $34M Deal To Renovate, Extend Affordability In Roxbury
MassHousing recently closed on $34.4 million in financing for the Franklin Highlands community in Roxbury and Dorchester.
Worcester Affordable Housing Community Receives $22.5M In Financing
MassHousing has closed on $22.5 million in financing to Beacon Communities LLC for the purchase, rehabilitation and preservation of affordability at the 156-unit Stratton Hill Park housing community in Worcester.
Residential Mortgage Delinquencies Hover Around 10-Year Low
Loan performance remained flat in July 2017 after hitting 10-year lows the previous month, according to a report released today from CoreLogic, a global property information and analytics firm.
From Barbados To Boston And Beyond
Richard Phipps moved to Boston from Barbados at the age of 20 in the early ’70s. After two tours in the Air Force he started working in finance and later, real estate. He came back to Boston in the mid-’80s and got involved in all things real estate. The father of nine was recognized by Barbados with a Jubilee Award in January for blending business, family and spirituality in a way that retains family values. Phipps runs a real estate agency, a real estate school and a real estate counseling business from his Roslindale office. When he’s not in the office, he can often be found in Oasis on Hyde Park Avenue feasting on Barbadian rice and peas.
Tax Overhaul Plan Poses Big Unknowns For Homeowners
If you’ve been pondering how you as a homeowner or buyer might fare under the new Republican tax overhaul plan, here are a few points to consider.
Boston Real Estate Firms Increasingly Attractive Acquisitions
The nationwide trend of real estate agencies mergers and acquisitions came to Boston this month with Douglas Elliman’s announced purchase of local Otis & Ahearn Real Estate.
Harvard Leases Former Polaroid Building For IT Department
The Bulfinch Cos. Inc. announced this week that it has signed a long-term lease with Harvard University at 784 Memorial Drive in Cambridge.
Massachusetts Property Taxes Seventh-Highest Nationwide
Massachusetts homeowners paid some of the highest real estate taxes in the country again last year, according to analysis from the National Association of Home Builders.
Residential RE Bottom
