Category Archives: Legal / Closing / Title

Beware Phony Foreclosure Aid

“‘Loan modification scams are reaching epidemic proportions across the nation,’ said Thomas J. Curry, a board member of NeighborWorks America, a Washington, D.C., nonprofit spearheading the nationwide program.”
Oh, what program, you ask? The program is actually a campaign, backed by local, state, and federal agencies, targeted at homeowners facing foreclosure, which I know I have written plenty about. The campaign has one key message: Homeowners who are struggling to make payments and are facing foreclosure need to be wary of loan modification schemes. Or as the Globe puts it, …

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Big Sales in Commercial Real Estate: 101 Summer St. and Senior Housing Residences

Both of the following articles are courtesy of Citybizlist- Boston’s Commercial Real Estate Insite.
101 Summer St in Boston Sells for $5.7 Million
101 Summer Street, a 50,673 square foot office and retail building located in Boston’s Financial District, has sold for $5.7 million or $112 per square foot.
The CB Richard Ellis team of Chris Angelone, Bill Moylan and Matt Pullen marketed the building on behalf of Aurora Bank FSB and procured the buyer, Synergy Investment & Development, a Boston-based real estate investment and development firm. The sale of the asset, …

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Foreclosure’s Surge, Becoming a Full-Blown Crisis

So I’ve been writing about foreclosure’s in Massachusetts for a while now, and to be honest, it’s making me a little depressed. Yesterday, the Boston Globe published yet another article on the foreclosure crisis, here’s a condensed version compiled from excerpts from the original article.
Home Loss Surging in Mass. (Rate of foreclosure jumps as lenders get used to process.)
The number of homeowners who lost their properties to foreclosure in April swelled to 1,372, almost 80 percent more than during the same month last year, according to data released yesterday by …

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Avg. Home Prices Increase in 91 Cities Through First Quarter

In Bloomberg Businessweek’s recent update to their first-quarter findings, they have announced that home prices rose in 91 American cities. Bloomberg attributes this to the tax credit taking a significant number of properties off the market and the slow but steady recovery of states hit hard by high foreclosure rates.
“Cities that led the nation in foreclosures a year earlier had the biggest price increases as a tax credit of as much as $8,000 boosted demand and drove the supply of unsold homes to a four-year low in January, according to …

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Luxury Condo Sales Up 50%!

In my recent post titled, “Mixed Signals in the Housing Market,” I quoted the Boston Globe’s concluding statement, which surmises, “The Greater Boston Market appears to have stabilized, and entered a period as a moderate seller’s market.” Well that was the whole housing market. In a recent data-driven Globe article fueled by data from LINK, The Listing Information Network, a private Boston company that tracks the downtown condo market, luxury housing buildings, defined as “those that offer concierge, valet, and other services and have more than 10 units,” sales are …

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REDC Auction Today

This morning The Real Estate Disposition Company (REDC) held an auction of 60+ foreclosed homes at the Renaissance Boston Waterfront Hotel.
Among the notable properties one really stands out, a $1M Foreclosed Weston MA house located at 193 Boston Post Rd and is a 4,900 square foot 14-room property. Here’s the link to the auction site’s listing, http://www.auction.com/property.php?auctionID=H-152&itemID=178249&venueId=1057&start=0&flgRemoved=0&flgEscrowed=0.
This auction is part of REDC’s record 125 auctions in 71 days. The company has already auctioned a US-leading 7,350 properties for $415 million so far this year.
REDC’s CEO, Jeff Frieden said, “2010 is …

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