Data just out on the S&P/Case-Shiller Home Price Indices. Home prices in the 20 major city markets tracked fell 0.7% in September from the month earlier. In Boston non-seasonally adjusted home prices fell 1.3% from August to September — but managed to remain ever-so-slightly up year-over-year (at +0.4%). Boston is one of the very few [...]

F.H.A. Rule Changes for Mortgage Borrowers

Massachusetts Luxury Real Estate A blog post on the Zillow Blog on Thanksgiving mentions the most expensive under-1,000 square foot listings. Of course the majority are in California, but rounding out the list was a Vineyard Haven property — 704 square feet going for $2.2 million. Yep, that’s over $3,000 per square foot. Oddly enough, [...]

I was informed last night that the entire staff at Rock Bottom Restaurant & Brewery were given notice that December 31, 2010 will be there last day at work. Apparently, a bank will be moving into the retail space on the corner  Tremont and Stuart Street (Transportation bldg & old location of 7 Eleven) and will require an expansion into [...]

In recent comments, National Association of Realtors (NAR) chief economist Lawrence Yun had some good news to report. The commercial market, said Yun, appears to be stabilizing, with vacancy rates expected to drop over 2011. Yun’s comments on the residential market were not exactly upbeat, but he did note a slightly improving economy will continue [...]

Boston Luxury Condos – W Residences According to MLS, the Boston W Residences marketing staff sold  four luxury condos in the month of November (so far). 1. 110 Stuart Street – #24D Sold for $412,731.00 / $966.58 per sq. ft. 2. 110 Stuart Street #25D Sold for $427,748.00  / $1,001.75 per sq ft. 3. 110 Stuart Street [...]

Overall, the most important day of the week is Friday with the employment figures being released, but we may also see sizable movement in rates Wednesday. Friday’s employment data could cause a significant change in rates, but Wednesday’s ISM index is also one of the more important reports we see each month. If Friday’s data reveals stronger than expected results we may see rates spike higher after its release, possibly erasing any gains from the week. It will probably be the key to rates moving lower or higher for the week. I suspect it will be another fairly active week for the markets and mortgage pricing, so it would be prudent to maintain contact with your mortgage professional if still floating an interest rate.

As reported by Washington Post real estate columnist Kenneth Harney recently, the FTC has new rules that crack down on companies promising mortgage and loan modification companies that charge up-front fees — and often deliver nothing to struggling homeowners (accept a bigger hole in their bank account). New rules to go effect in Jan. state [...]

Boston Back Bay Condos Number of Back Bay condos that sold – 60 Average Back Bay condo sales price – $1,268,518 Median Back Bay condo sales price – $730,000 Average price per sq ft for a Back Bay condo – $781.00 Average days-on-market – 134 ———- Beacon Hill Condos Number of Beacon Hill condos that sold [...]

Boston real estate outlook The Boston Business Journal interviewed economist Karl ’Chip’ Case on a range of issues.  The following excerpts are Karl Case’s thoughts on the U.S. housing market: ‘I’m not real optimistic’ It’s nearly impossible to meet with Case and not somehow discuss the housing market. The subject of wine is a close second, in [...]