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.
Local Boston Real Estate News
Millennium Tower’s ‘expensive’ proposition in downtown Boston
“The ‘hole in the ground’ formerly known as Filene’s eventually will be home to 600 residences in the Millennium Tower, proposed as one of Boston’s tallest skyscrapers. And those apartments – and possibly condominiums included in the mix – won’t come cheap.”
Davis Cos. buys Seaport building for $14M
“The Davis Cos. has made a $14 million investment in Boston’s Seaport District with the purchase of 24 Farnsworth St.”
Average rents in Boston neighborhoods
“Rents for apartments in Boston are soaring and a slew of new construction is unlikely to make it any easier or cheaper for all but the well-off to find an affordable place to live.”
Out of Control Landlords
“Tenants also need to keep an eye out for those bad-apple landlords who opt to play by their own crooked rules.”
Last stand for Greenway fruit man- maybe he needs to rent some commercial space?
“There won’t be any more bananas, apples and oranges from Costas Katemis, the fruit guy who has spent nearly 13 years at Dewey Square on the Rose Fitzgerald Kennedy Greenway.”
Boston swaps real estate in North End to expand Eliot school
“The City of Boston agreed today to a real estate swap in the North End that will allow a popular public grammar school to potentially double in size.”
National Real Estate News
Sell your home now, or get hit with an 8.8% tax increase in 2013
“Waiting to sell your home in 2013 instead of 2012 could have serious financial ramifications as well.”
HUD boosting sales of distressed FHA loans
“The U.S. Department of Housing and Urban Development is now accepting applications from investors interested in buying pools of severely distressed mortgages formerly insured by the Federal Housing Administration.”
Treasury changes Fannie and Freddie bailout deal
“The government is changing the terms of its bailout agreement with Fannie Mae and Freddie Mac in a way that will shrink the holdings of the two mortgage giants more quickly and will require payment to the government of all quarterly profits the companies earn.”
Feds want cleaner disclosure of home appraisals by lenders.
“The Consumer Financial Protection Bureau has proposed a rule designed to improve access to appraisal reports so borrowers know – prior to closing – how the property’s value was determined.”
Taylor Swift gets close to Kennedys with home purchase.
“According to several reports, country songstress Taylor Swift has picked up a new home in Barnstable, Mass., across the street from the Kennedy compound. The location wasn’t coincidence; Swift has recently been linked to a Kennedy herself — Robert F. Kennedy Jr. and the late Mary Kennedy’s son Conor.”
