The Massachusetts Association of Realtors reported today that September condominium market was up 8.87 percent compared to the same time last year (from 1,173 units sold in 2010 to 1,277 units sold in 2011). On a month-to-month basis, condominium sales were down 23.26 percent compared to the 1,664 units sold this past August. Similar [...]

I was reading an article this morning that President Obama was in Vegas yesterday, announcing that he wants to expand efforts to help struggling homeowners to refinance their loans. The initiative is known as the Home Affordable Refinance Program (HARP).
I have a few thoughts and questions about HARP:
Who is providing the gambling chips for this program? [...]

Another report confirms that home and condo sales were up last month. Prices also increased modestly, according to data from the Massachusetts Realtors Association.
Let’s see if this lasts before declaring a recovery. Hopes have been dashed before during these crazy economic times.
File under: Trust but verify

Boston real estate email

From an email: 15-Year Mortgages Now The Most Sought After

A new report from Bills.com revealed that 15-year mortgages, not traditional 30-year mortgages, were the most sought after loan type in the third quarter.

In fact, they were also the most requested loan type in the second quarter as well.
The money saving site [...]

Harvard’s Larry Summers pens an op-ed piece on how to stabilize the U.S. housing market.
Maybe we’re in a bad back-to-work Monday mood. But nothing jumps out of his column as being radical or interesting. It seems to be a lot of policy-wonk mush. The calls for this and that policy are starting to get [...]

What I learned this weekend, revelations from a tech giant:

Part 2

Back Bay condo average and median sales prices from Janaury 1st through October 23rd for 2007 through 2011:
Back Bay condo sales prices 2011
Average Back Bay condo sales price $1,164,818.00
Median Back Bay condo sales price $774,450.00
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Back Bay condo sales prices 2010
Average Back Bay condo sales price – $1,122,206.00
Median Back Bay condo sales price – $740,000.00
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Back Bay [...]

Back Bay condo sales from Janaury 1st – October 23rd for years: 2007 through 2011.
2011 – Number of Back Bay condo sales – 372
2010 – Number of Back Bay condo sales – 382
2009 – Number of Back Bay condo sales – 294
2008 – Number of Back Bay condo sales – 453
2007 – Number of Back [...]

Comparing 2011 3rd quarter townhouse sales in Beacon Hill with that of 2010.
Number of Beacon Hill townhouses sold in the 3rd quarter of 2011 – 8
Number of Beacon Hill townhouses sold in the 3rd quarter of 2010 – 10
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Average Beacon Hill townhouse sales price in the 3rd quarter of 2011 – $3,995,315.00
Average Beacon Hill townhouse [...]