Did you know that nearly one in three borrowers who applied for a mortgage last year was denied? Lenders kept their standards tight as the mortgage crisis accelerated, the government reported Wednesday.
Read More: Real Estate Mortgage

And so the Boston housing crisis continues…….
Today, Coldwell Banker just listed a short-sale in Beacon Hill, 12 Walnut #3 MLS# 70982332. On October 8, 2008 this Beacon Hill condo was listed on MLS for $675,000.00. Today the short sale asking price is $490,000.00.

There’s a saying: “For every action there is an equal and opposite reaction.” While first-time homebuyer’s are taking advantage of the $8,000.00 tax credit, some Boston landlords claim they’re paying the price. As more and more renters are purchasing $200,000 to $400,000 properties it appears it’s leaving a void in the rental market. Check these [...]

From today’s Boston Herald:
The median condo price for August dipped 6.8 percent to $275,000 from $295,000.
In Boston, single-family home sales were off last month by 2.7 percent compared to August 2008 while the median price increased by 2 percent to $367,500.
Citywide condo sales fell by 8.8 percent in August compared to a year ago as [...]

The Warren Group reported that single-family home sales inched up 2 percent in August compared to the prior year. August was the second straight month that sales volume increased in Massachusetts.
Here’s what’s not in the report: while sales of lower-priced single-family homes helped to prop up the overall numbers, higher-end home sales are dragging.
Single-family [...]

The DC-based Tax Foundation came out with its annual State Business Tax Climate Index, ranking Massachusetts 36th in business friendliness (down from 32nd last year). That’s still better than most Northeastern states. New Jersey was at the bottom, followed by New York and California. South Dakota was judged to be the best state to set [...]

The S&P/Case-Shiller index also shows signs of an early local and national housing market recovery, going back to July. Boston ranks #4 on its latest value list. Care to guess what city is first? Go ahead. Guess. A wild guess. The answer is … Cleveland?
The Northeast markets are generally doing better than the Sun [...]

Coldwell Banker will be moving their office located at 48 Charles Street Beacon Hill (2nd & 3rd floors) to a retail space on the corner of Chestnut and River Street. This office space is much smaller than thier last location.
File Under: Layoffs

Boston North End condo sales.
1/1/08 – 9/29/08
# of North End condo sales – 72
Avg. North End condo sales price – $452,786.00
Median North End condo sales price – $338,250.00
Avg price per sq ft North End condo – $590.00
1/1/09 – 9/29/09
# of North End condo sales – 55
Avg. North End condo sales price – $487,138.00
Median North End [...]

In case you were wondering, we are approaching the fourth year anniversary of when Manny Rameriez listed his Penthouse condo at the Ritz Carlton. Original asking price $6,900,0000 today’s asking price $8,500,000. Price per sq ft $1,922,64, monthly condo fees $5,718.00.
Any takers?
File under: Strike Out
Original blog post: Luxury Boston Condo