You read that right: Google is helping to fund an affordable housing project in Allston.

At first, we thought there must be some sort of cyber catch — like, perhaps, how Google had discovered a rich vein of rare-earth materials underneath the surface of Allston or how it was building as vast underground communications center in exchange for rebuilding the Charlesview apartments.

Nope, it’s a straightforward real-estate deal. Google is taking advantage of a federal tax-credit program.

These are strange times in our country’s economic history.

Frances Louis’s “moral” claim to move into an empty foreclosed unit in Roxbury is philosophically dubious and flatly illegal — but it’s producing results. The bank is backing down. In the process, maybe the Wisconsin bank has stumbled on a partial short-term solution of transferring foreclosed properties before confrontations develop. Read and discuss.

BUT IT WAS SO EASY WHEN I BOUGHT THIS HOUSE…

You got married, had 3 kids, and definitely need a new home. The one you bought when you were single, no longer fits the bill, although you tried like heck trying to. 3 people brushing their teeth around one sink used to be cute…but no more. So now what? It’s easy, right? You just look at a few houses, and pick the one you want, and you’re good to go. WRONG!

Why? You ask! Well, the first time you bought, you had no baggage. You had your savings, your pre-qualification letter from the bank, you found a house, and 30 days later you moved in. Now, that house you used to love could be the ball and chain that keeps you from moving…unless you put the horse before the cart, if you will.

Now, you likely need to sell your current home before you buy a new one. Most sellers today will not accept an offer from you if it contains a contingency for you to sell your current home. Coming to the table with such a contingency puts you in a poor bargaining position, and really will do you no benefit because you will be working a fictional figure as to what you estimate your home to sell for.

The best plan is to market your property first, then find a new home. You may need to consider temporary interim housing to pull it all off. If you play it right, you will now know exactly what funds you have to work with, and will be in a MUCH better position to negotiate with any seller because you are now a “ready, willing, and able” buyer.

I sit with clients sometimes for hours just discussing how this process works. I have just touched on it here to give you something to think about. I will be happy to answer your specific questions, so write today. Remember, your question is likely to help others as well.

Thanks for reading,

Rick Nazzaro, Boston Real Estate Blog Writer.

View new real estate listings

There’s an affordable housing opportunity at 461 Park Drive, in Boston’s Fenway neighborhood.

461 Park Drive is a brand-new condo building of 21 studios, complete with elevator and central A/C.

Three units are available for between $153,800 – $196,300. Households of one can make up to between $48,000 – $60,000 and households of two from $54,000 – $68,0000.

Details and applications available on-site, between Dec 15 – 17.

“The number one thing that drives housing values is incomes,” said Todd Sinai, an associate professor of real estate at the Wharton School at the University of Pennsylvania. “When incomes fall, demand for housing falls.”

The above quote was in today’s New York Times.

Does anyone have data on Boston’s avg. income? How does it compare to previous years?