NOW IS THE TIME TO BUY THAT NEW HOME

The 30 year fixed mortgage rate rose to its highest level in two years. The Feds multi stimulus programs which have kept lending rates low to help stimulate businesses and homeowners alike to borrow money for purchases and for improvements have slowly come to an end. The policy has kept Boston mortgage rates at record lows for most of the past 5 or so years.
mort1Mortgage rates have gone up more than 36% since May when the 30 year rate was at 3.35%.

“If you were considering buying a home, rates aren’t going to get much better any time soon” said Erin Lantz, director of mortgages at Seattle based Zillow.com. “Buying sooner rather than later makes good sense.”

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Boston Redevelops “Dudley Square” to Planned Community

Developer Pushes For New Life For Former Roxbury Bus Yard

aboutAccording to the Boston Globe, the builders and developers of the 8.6 acre development, “Bartlett Place”, has told the Boston Redevelopment Authority that starting the $140 Million project which includes the construction of 323 homes, a grocery store, retail shops, offices, markets and a plaza, would go a long way to fill a large void in the redevelopment of “Dudley Square” which lately is seeing a burst of construction after years of inactivity.  Nuestra Communidad Development Corporation has said it intends to make the property a destination for Roxbury residents. The BRA is planning a community meeting to discuss Bartlett Place Thursday night, an indication it is moving closer to a vote on the master plan for the property.

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GOOD NEWS FOR NEW ENGLAND AEROSPACE AND DEFENSE COMPANIES

Department of Defense contracts totaling almost $250 million were awarded to three New England technology companies including Sikorsky Aircraft Corp. of Stratford Conn., who got the biggest chunk of defense dollars for the procurement of UH-60M Black Hawk helicopters. iRobot Corp. received a contract of $30 million for “robotic systems and spare parts” for the U.S. Army.  iRobot Corp. is located in Bedford, Massachusetts and makes both defense and home robots. Raytheon Co., of Waltham, Massachusetts received a $22.4 million order for the supply of 53 ECP-6279 retrofit kits for installation aboard Navy F/A-18 E/F fighter jets and EA-18G electronic warfare aircraft.employment

What we need to remember is the more contracts we get, the more employment we have and the

Boston real estate market continues to grow and flourish.

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Fenway Center a Go??

fenway2Today the vote will be cast by MassDOT (Department of Transportation) on the long stalled Fenway Center Development.

The first phase of the Five hundred million dollar project is for four hundred apartments as well as retail stores in three buildings, including two of seven and fourteen stories on Beacon and a seven-story one on Brookline; and a seventeen space parking garage for local commercial tenants as well as Red Sox fans. The second phase would include a 27-story building. fenway1

If the project is approved today, the development will begin in early 2014. And should employ approximately fifteen hundred workers.

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Most Expensive House in Boston Sells

Boston's Most Expensive Home Sale Ever!

Boston’s Most Expensive Home Sale Ever!

Curbed Boston is reporting that they have it on good authority that the 26,000-square-foot, 50-room Ames-Webster Mansion at 306 Dartmouth Street in our beautiful city sold for $14,500,000 and closed on march 15th. This makes it the priciest private-home trade in the modern history of Boston real estate.

Saudi businessman Fahad Al-Athel, is the new owner and he and his family will make it their residence.

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Financing is on an Upswing

mort1Good news in the real estate market. The Mortgage Bankers Association said Wednesday that the number of mortgage apps that were filed in the United States shot up 14.8% for the week ending March 1, 2013.

The turnaround arrived after three straight weeks of declines. The Apps rose alongside the refinance index, which grew to 15%, and the purchase index which also shot up 15%, showing a strong market demand for all of the refinances  and the home and condo purchases.

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SYNERGY INVESTMENTS AND DEVELOPMENT BUYS 11 BEACON STREET FOR $34.9 MILLION

Synergy Investments and Development has announced its purchase of the 93 old building at 11 Beacon Street. The building has 146,000 Sq. ft. and has a 78% occupancy rate. The average asking rents are $28.78 per square foot. The purchase of this property is the latest in a number of purchases made by Synergy.
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PORTSIDE AT PIER ONE IS FINALLY UNDER CONSTRUCTION

The $67 million luxury apartment project, named the East Pier (formerly known as Portside at Pier One),  on East Boston’s waterfront, has commenced 8 years after the city approved the luxury apartment development. Roseland Property Co. of New Jersey, broke ground on a five story luxury apartment building which will feature 176 units with retail spaces available on the ground floor.east-pier-boston

This is the first phase of the projects which will have seven buildings for mixed use, 550 luxury unit project scheduled to be constructed on the states land on Marginal Street and will have beautiful views of Bostons skyline.

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$18 MILLION APARTMENT COMPLEX UNDERWAY AT DUDLEY SQUARE

greenville-1Madison Park Development announced that construction has begun on its $18M apartment development in Roxbury’s Dudley Square. The complex is being constructed on two vacant land parcels. The project has been dubbed “The Dudley Greenville”. Everyone seems to agree that the project will transform the two vacant lots into new modern buildings that will begin to revitalize Dudley Square, Once again demonstrating Boston real state rejuvenation.
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Dune Medical Devices to relocate to Innovation District

Dune Medical Devices has announced its intention to relocate to a new 2707 sq ft facility in the Innovation District at 25 Thomson Place. The move is timed to the U.S. Food and Drug Administration recent approval of the Dune Medical’s breast cancer tissue assessment tool, a company spokesman said. The total number of employees moving was not disclosed.

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