Not much to add to this story from today’s Post. As the mortgage mess widens, Donald Trump has pulled the plug on Trump Mortgage less than two years after its launch. Plagued by bad timing and the disclosure that the firm’s chief executive, E.J. Ridings, had inflated his credentials, the outfit never came close to [...]

All major Boston development is threatened by Chapter 91. Chapter 91 is “the Commonwealth’s primary tool for protection and promotion of public use of its tidelands and other waterways.” The problem is, not only does the regulation protect tidelands, it protects land within 1,000 feet of tidelands (that’s three football fields). So, basically, any land [...]

According to the Boston Condo Guy, the completion date of the FP3 condo development has been delayed until late spring, 2008. In addition, he reports that 15 of the 97 units have gone under agreement.

The following information is from the local MLS database, as of August 4, 2007, compared to (July 28, 2007). Total # of condos for sale in the city of Boston: 2,339 (2,395) Average # of days on market: 125 (125) Median price of all condos for sale in the city of Boston: $379,900 ($385,000) Average [...]

So, in my Inbox this morning: Freddie Mac reports a modest decline in mortgage rates during the week ended Aug. 2, with the 30-year fixed rate falling to a one-month low of 6.68 percent from 6.69 percent. Interest on 15-year fixed loans, meanwhile, dropped to 6.32 percent from 6.37 percent. The five-year adjustable mortgage rate [...]

The headquarters for the Boston Center for Adult Education is for sale, according to the Globe. I think this would make a great single-family home, although the assumption is that a buyer would convert it into condos. In today’s article, the status of two other listings for sale is updated: Down the street, buildings at [...]

I’ve been scooped! According to the Globe: MLS Property Information Network Inc. (MLSPIN), the primary database for brokers who list properties for sale in Massachusetts, will now post its listings on the national real estate website, Trulia.com. I found out this news yesterday but didn’t think to post it. I wish I had! Individual agents [...]

Here’s some more information about slowing home sales throughout the United States. The annual growth rate in prices of existing single family homes across the United States continued to decline for the 18th consecutive month in May, according to the Standard & Poor’s/Case-Shiller Home Price Index. Overall, the top 20 cities in the index declined [...]

This is not very good news! Fannie Mae and Freddie Mac, whose shift into the risky mortgage market has been driven by the government’s affordable housing mandates, is faced with millions “maybe billions” in problem loans. The Office of Federal Housing Enterprise Oversight estimates that 40.6 percent of Fannie’s portfolio, a total of $292 billion, [...]

This is a great piece of news, courtesy of the Globe. Some of Boston’s most crime-plagued neighborhoods have experienced double-digit percentage drops in shootings this year, according to new police statistics. Citywide, shootings are down nearly one-third compared with the same time last year. The number of homicides is down 17 percent, and violent crime [...]