Real estate investment is a process that often involves taking out loans on promising properties. The quality of the property, as well as its age, location and size are taken into account during the loan process. Rental properties that have a high monthly income potential can be good candidates for a real estate transaction, especially…
Is it cheaper to buy a home than rent one in Worcester?
The answer to that question is a resounding YES, according to Trulia, a residential real estate and data trending group. The group recently compiled data that examined homes for sale and homes for rent in the top 100 metro areas considered the largest in the country, including Worcester, Massachusetts. The data came from its database…
Worcester Diocese to be sued over housing discrimination
Residential real estate transactions can be a complex maze of rules, regulations and paperwork. Any number of things can go wrong from title declarations to land use and zoning issues when it comes to commercial real estate. And there are always price negotiations and inspections to deal with. But what went wrong for two men…
2-year high for Mass. home sales, Worcester median price declines
Reports from the Warren Group, which tracks homes sales figures, reported late last month that single family home sales in Massachusetts hit a 2-year high statewide. Just short of 5,500 homes sold in June, up from almost 4,370 for the previous year, and year-to-date sales are up by almost 25 percent. Using a different method…
Massachusetts residential real estate: are young people buying?
Although the residential real estate market has been on a gradual recovery, some reports are asking whether young people are buying. Last month, the Boston Globe reported a decline in the rates of young people owning a home in Massachusetts. The report said there was a 20 percent decline in a five year span from…
Worcester County foreclosures up 42 percent over April 2011 rate
Worcester County, Massachusetts had a total of 302 petitions for foreclosures in the month of April. That figure is up 42 percent from the same month last year, according to The Warren Group, which tracks residential real estate transactions in the state. A petition for foreclosure is the first step in the foreclosure process. Statewide,…
Former Evergreen Solar Plant in Devens, Massachusetts, is sold
The state-of-the-art manufacturing facility that was the former Evergreen Solar Plant has been acquired by Hackman Capital and Calare Properties. The founder and CEO of Hackman Capital said the company is thrilled about the real estate transaction as it builds its presence in the Greater Boston Area. It is looking forward to finding tenants for…
Advice for first-time homebuyers in current housing market
With mortgage rates near 60-year lows, first-time Massachusetts homebuyers might be wondering if now is the right time to buy. Although the residential real estate market is not exactly booming and prices are somewhat depressed, these low interest rates and the improving economy point to the possibility of an increase in residential real estate transactions…