It’s the end of the week again (or is it the start of a new one?), so here is my weekly round of the most interesting real estate stories in the Boston area, as well as some national stories that caught my attention. We’ll be doing this every week, so head over here to get your Boston real estate news fix.
Local Boston Real Estate News
Earvin “Magic” Johnson’s investment in a Charlestown is no slam dunk
“It’s probably more an outlier than the norm for apartment building values right now,” said Michael DiMella, a managing partner of Charlesgate Realty Group in Boston. “It could be a location abnormality more than anything else…”
The Boston Herald Listing of the Week – Featured Charlesgate Realty’s renovated listing, 32 College Hill Road #2
“Carved out of a 1920-built two-family on College Hill in West Somerville near Tufts University, this three-bedroom duplex condo has a new kitchen and master bedroom suite, along with lots of newly installed woodwork.”
Construction in the Seaport is Really Booming
“Heavy-duty foundation work for a 20-story luxury apartment project has been pile-driving people crazy for weeks in the Seaport District, but the constant clanking is also pounding home the point that there’s real progress in Boston’s buildout on the waterfront.”
Evictions piling up in Medford, Malden tenant case
“When Alpha Management, a Boston real estate firm, closed a $23.4 million deal for four properties in Medford and Malden comprised of more than 250 units, dozens of tenants vowed to fight sudden rent increases demanded by the new owner, Anwar Faisal.”
In Boston, $300G will get you a parking spot
“Finding parking in downtown Boston can be difficult and expensive. Rental options range from about $200 to $400 per month, but would you pay up to $300,000 just to have your own guaranteed parking space in the city?”
Read More Here
National Real Estate News
For renters, buying a home pays off after three years on average
“Real estate website Zillow says the ‘break-even horizon’ for potential home buyers varies widely depending on location.”
Mortgage Rates Climb After Months of Record Lows
“Freddie Mac announced Thursday that after more than three months of record-low drops, mortgage rates slid up this week.”
Realtors® Support Setting Deadline for Subordinate Lien Holder Short Sale Decisions
“A proposed bill may soon help speed up the approval process for homeowners selling their home through short sale by requiring subordinate lien holders to review and respond to short sale requests within 45 days.”
