As we enter into the last month of 2008 (for some not soon enough). Do you as real estate blog reader have any predictions for the up-coming year.
* Will foreclosures bottom out?
* Will mortgage rates rise or fall?
* Will Boston condo buyers that are on the fence begin to buy?
* How will the luxury Boston condo [...]

According to MLS data the Boston Waterfront is showing signs of strength. Comparing 1/1/08 – 11/30/08 with the same months in 2007.
2008 – Boston Waterfront
Number of condo sales – 103
Avg. list price – $1,126,433.00
Avg. sales price – $1,067,617.00
Avg. days on the market – 145.11
___________________________________
2007 – Boston Waterfront
Number of condo sales – 91
Avg. list price – $944,830.00
Avg. sales [...]

The following is from the  Boston Business Journal regarding a Boston mortgage fraud scheme.
North Andover, Mass., woman who was an unindicted co-conspirator in what the government alleges was an extensive mortgage fraud scheme pleaded guilty Tuesday in federal court to four counts of wire fraud.
Elizabeth Son, 26, was a “straw” buyer in the operation, according to [...]

Amy e-mailed me requesting 3 months sales data for Back Bay condos. Here are the results:
Back Bay sales from 9/1/08 – 11/30/08
87 Back Bay condo sold.
Avg. asking price $1,158,455.00
Avg. sales price $1,099,503.00
Avg. days on the market 113.06
* These numbers do not include the Mandarin per Amy’s request. She also requested to compare 2008 to 2007 for the [...]

In the month of November 2008, 182 Boston condos sold and 216 Boston condos went under agreement according to MLS. Out of the 182 Boston condos that sold 8 were bank owned.
The average list price of sold condos was $429,955.00
The average sales price of condos sold was $408,883.00
Average days on the market: 108.88
6 out of the 8 bank [...]

Today’s Boston Herald has an article written by Jerry Kronenberg regarding the changes in conforming mortgage rates.
As of Jan. 1, the jumbo-conforming limit for Eastern Massachusetts borrowers will fall to as low as $417,000, down from as high as $729,750 today. (Rates vary by county.)
That’s bad news if you need, say, $500,000 to buy or refinance [...]

This morning, I took a walk down Boylston Street and I noticed a few changes that are taken place with retail shops. I was wondering, how many of these changes regarding commercial retail spaces are due to the residential real estate market?
334 Boylston Street – The building is vacant. This is the site that real estate developers want to build luxury condos. No [...]