The Mortgage Bankers Association is meeting in Boston.
Today, there was a congressional hearing held at Roxbury Community College (?) to discuss the subprime lending crisis, among other things.
Massachusetts Attorney General and housing expert Martha Coakley was there to give her opinion on the matter.
I found the following quote, attributed to her, quite interesting:
There have been 1,000 home foreclosures in Boston in the past six months, clustered in minority and low-income neighborhoods, Coakley said.
I don’t think that is accurate. In fact, I dare say she made it up.
I don’t know what the actual number is. The Suffolk Deeds site says there have been 554 foreclosure deeds since January 1, 2007. I don’t know exactly what that means, it’s not exactly the same thing, but it’s as fair a gauge of the depths of the problem.
In the scheme of things, does it really matter if the number quoted is as much as 48% off from the actual? No, but it would help everyone if we could at least be accurate.
AG: Foreclosures will hit suburbs, too – Associated Press by way of The Boston Globe
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Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs
In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.
For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.
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John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.
Ford Realty Inc
137 Charles Street
Boston, Ma 02114