Tagged: Boston Massachusetts

Mortgage applications continue falling in latest weekly survey: Massachusetts Homebuyers Homeownership  Mortgage applications fell 6.8 percent on a seasonally adjusted basis during the week ended March 25, 2022 as mortgage rates hit their highest level in three years, the Mortgage Bankers Association said, citing its Market Composite Index. The average contract interest rate for conforming thirty year mortgages of six hundred forty seven thousand two hundred dollars or less jumped to 4.8 percent from 4.5 percent, while the rate for thirty year fixed rate mortgages backed by the Federal Housing Administration increased to 4.66 percent from 4.4 percent.  “Even with […]

Housing prices top last summer’s highs, hit new record: Massachusetts Homebuyers Homeownership  With fewer people putting their homes on the market, housing prices have hit a new high, according to a recent Redfin report. Redfin found housing prices were higher than they’ve been since last summer with a seventeen percent year over year increase. In fact, nearly three in five homes were purchased within two weeks, an all time high as half sold for more than asking price, according to the report.  And that’s not helping prospective homebuyers, who are still in hot competition to find a new home, as […]

Brown Streaks on the Bathroom Wall Are Gross. So Where Do They Come From?: Massachusetts Homeownership Homeowners  The terms “brown streaks” and “bathroom” are two no homeowner wants to hear joined together. Those brown streaks on your bathroom walls, ceiling, or door frame which some say resemble droplets of maple syrup are vexing and unsightly. Once you notice them dirtying up the surfaces of your bathroom, they’re tough to ignore. So where do they come from? In the interest of science (and peace of mind), we set out to investigate this alarming phenomenon. Possibility No. 1: Paint surfactant Surfactant is […]

How do Massachusetts counties stack up to generational affordability?: Massachusetts Homebuyers Homeownership  Home prices continue to rise making homeownership harder to achieve as each generation readies to enter the real estate market, and it’s looking that way within the six counties in Massachusetts. Point two Homes recently completed a study of home affordability by generation based on net worth and income. By comparing affordable house prices with local median prices, their report was able to determine which generation had it worse when it came to home affordability. Several counties in Massachusetts are out of reach for various generations, the report […]

Home Inspections Are You Getting the Right One?: Massachusetts Homebuyers Homeownership Most homebuyers know that no matter how much they love a house, they should get it inspected before closing the deal. “It’s a lot like a mechanic looking under the hood,” says Scott Bergmann, an agent with Realty ONE Group Sterling in Omaha, NE. “It allows the buyer to understand the condition of aspects they may not be able to see in their initial walk through.” Homebuyers often add an inspection contingency to their offers, which lets you back out of the deal if a significant problem is revealed. […]

BEB Lending Provides $5.85 Million In Acquisition Financing for Industrial Property Marlborough,Ma: Massachusetts Homeownership Homebuyers  MARLBOROUGH, MA–BEB Lending, the finance platform of BEB Capital, announced that it has provided a $5.85 million bridge loan to Patriot Holding for the acquisition financing of an industrial property at 894-896 Boston Post Road in Marlborough, Mass. The transaction represents BEB’s first in Massachusetts. The term of the financing is eighteen months.  “This transaction is a perfect example of why we created BEB Lending,” said Sean Silverbrook, Vice President of BEB Lending. “We were able to provide Patriot Holding, an institutional owner, with access […]

First American Financial names Hurst its first chief innovation officer: Massachusetts Homebuyers Homeownership  First American Financial has named Paul Hurst its chief innovation officer, a new role that reports directly to CEO Ken DeGiorgio. Hurst will identify opportunities to leverage the company’s capital position, nationwide distribution channels, data assets and priority technologies to help accelerate First American Financial’s innovation investments, DeGiorgio said in a press release.   He will also identify opportunities for further innovation through strategic venture investments and partnerships, as well as mergers and acquisitions.  Additionally, Hurst will continue to serve as the managing director of First American’s […]

How Much Does It Cost To Build a House? Is It Cheaper To Build or Buy?: Massachusetts Homebuyers Homeownership  How much does it cost to build a house? Is it cheaper to build or buy a house? The median price of constructing a single family home is two hundred ninety six thousand six hundred fifty two dollars. That’s for an average sized house of two thousand five hundred ninety four square feet, which boils down to one hundred fifteen dollars per square foot.  Because of COVID-19, however, Americans keen to purchase new construction will need to tack on a pandemic […]

United States Real Estate Markets Hit a New Record High Price’s: Massachusetts Homebuyers Homeownership  Just when you’d swear that real estate couldn’t get any crazier, February’s hottest housing markets broke a new record, right where it’s bound to hurt homebuyers the most: price. The median list price for the United States’ twenty hottest markets in February has spiraled to a new high of five hundred sixty two thousand dollars, based on analysis by Realtor.com®. That’s forty three percent more, on average, than the national median list price of three hundred ninety two thousand dollars, which hit its own record high […]

Fed votes to increase interest rates, projects more hikes in 2022: Massachusetts Homebuyers Homeownership  The Federal Reserve announced today that it would increase the federal funds rate by 0.25 percent, its first increase in more than three years. This move by the Fed was widely expected as pandemic-related supply disruptions and broader price pressures have sparked the country’s worst inflation since the 1970s. The Federal Open Market Committee (FOMC) signaled that it would most likely continue to raise rates throughout 2022, pointing to a consensus funds rate of 1.9 percent by the end of the year. Four additional hikes are […]