In Worcester and throughout Massachusetts, spring is traditionally a popular time to put homes on the market. As people anticipate summer relocations, purchasing residential real estate becomes a priority for individuals seeking to establish new roots. What home buyers and sellers will face this spring may be somewhat different than what the housing market presented…
Housing slump affects premium home sales in Worcester
The changes in the economy can significantly influence the housing market and when residents are willing to sell their homes. The Massachusetts housing crisis is impacting all of Worcester’s homeowners, including its wealthier residents. Residential real estate sales of high priced area homes have fallen as well as the sales of more modest residences. This…
Massachusetts beach town plans large-scale face lift
The recession and the passage of time have left many towns throughout the United States shells of their former selves. This is especially true for a town like Hull, Massachusetts, which many of our readers are likely familiar with. The town that runs along Nantasket Beach just south of Boston is a sad scene of…
Foreclosures increase for Massachusetts residents
A foreclosure may occur as a result of financial challenges, such as unexpected medical bills, divorce or the loss of a job. Real estate purchases that are made during a boom in the housing market may well result in foreclosures during a recession. It is unsurprising, therefore, that a recent increase in new foreclosures seems…
Providence-New Bedford-Fall River foreclosure rates down
The possibility of foreclosure remains a major concern for many living in Massachusetts and across the nation. Data and analytical firms measure foreclosure rates for real estate throughout the country, reporting to banks, lenders and government officials to help gauge growth or shrinkage in home markets. Those contesting a foreclosure or seeking to make adjustments…
Real estate investment may be affected by fiscal cliff deal
Homeownership is part of the American dream. The United States tax code has numerous provisions to incentivize residential real estate investment, and the home mortgage interest deduction is one of the most well known. However, the deduction is not cheap for the U.S. government, and it is under scrutiny as the government attempts to increase…
Inflated housing appraisals lead to $7.8 million judgment
Anyone in Massachusetts or elsewhere looking to obtain a home loan depends on accurate appraisals to help set the home’s value for the real estate transaction. It’s the appraiser’s duty to make certain that the appraisal on a home is based on realistic pricing conditions, such as the location of the home and the condition…
Real estate, credit scores and divorce
In today’s challenging residential real estate markets in Massachusetts and around the country, many people considering a divorce may not know where to turn when it comes to dealing with their residential property during or after a divorce. Questions arise as to what the divorce will do to your individual credit scores and how you…
Massachusetts real estate: tax liens leading to more foreclosures
According to a new report by the National Consumer Law Center, the number of Massachusetts homeowners facing foreclosure because of tax liens is increasing. Foreclosures are usually the result of defaulting on a mortgage however the NCLC report estimates $15 billion in foreclosures in the country in 2010 were the result of tax liens. Contributing…
Worcester named “Hot Spot” in Massachusetts real estate market
As many real estate professionals may already know, Worcester has become a “hot spot” for Massachusetts real estate. According to a study ranking Massachusetts residential real estate transactions, Worcester was rated in the top ten in the state for having a great housing market. It is a unique situation, according to the CEO of Worcester…