July 1, 2011, 11:52 pm
The number of U.S. homeowners who were put on notice for being behind on their mortgage payments fell in May to the lowest level since 2006, the result of a slowing housing market and lingering delays in banks’ foreclosure process. and that’s if no other homes go into foreclosure.
The backlog spells further declines in home values, as homes in foreclosure sell at a 20 percent discount on average, and those discounts erode prices throughout a neighborhood.
One bright spot is that the number of home loans that are at least 90 days late has fallen five quarters in a row and are at the lowest level since the start of 2009, according to the Mortgage Bankers Association.
That’s partly because loans made in the aftermath of the credit crisis, when lenders tightened underwriting standards, are not becoming delinquent as often as riskier loans made between 2005 and 2007.
Continue reading post…
July 1, 2011, 5:42 pm
See the table of New England’s largest lab spaces
If the lab facilities aren’t enough of a reason for biotechnology companies to locate in Cambridge, then the reputation that the address carries might be the winning factor. For a biotech company looking to set up shop in New England, having an address in Cambridge adds a certain level of credibility comparable to having a business address on Wall Street, according to Brendan Carroll, senior vice president of research at commercial real estate firm Richards Barry Joyce & Partners LLC. It’s also easier to set up a biotech in Cambridge, where there is a concentration of skilled workers, than it is to establish a company elsewhere and relocate prime employees, said Carroll. On
Continue reading post…
July 1, 2011, 1:43 am
The Lake Elsinore Outlets mall has been put up for sale, but the location of the shopping center and an unusually large number of vacant storefronts could make it tough for the owners to realize a good price.
The property has excellent freeway visibility. More than 114,000 vehicles on Interstate 15 pass it every day.
But it also has an occupancy rate of only 64 percent, which is low even in Inland Southern California’s weak economy. The most recent data on retail properties in San Bernardino and Riverside counties puts the vacancy rate at somewhere between 10 and 15 percent, depending on the location.
Continue reading post…
July 1, 2011, 12:04 am
Two free foreclosure prevention workshops to help homeowners in financial distress are scheduled in the next two weeks in Florida: in Hollywood on July 11, 11 a.m. to 7:30 p.m., at the Westin Diplomat Resort & Spa, and in Jacksonville on July 13, from 11 a.m. to 7:30 p.m., at the Prime F. Osborn III Convention Center.
The workshops are sponsored by the U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD), as part of the Obama Administration’s Making Home Affordable Program, along with the HOPE NOW Alliance and NeighborWorks America®.
During the two events, homeowners may be able to have a face-to-face meeting with a representative from their mortgage lender or local housing counselor. Ho Continue reading post…
June 30, 2011, 3:48 pm
Lisa came to work for me in 2009, a tough real estate market, but in 2004 when Natalie began working for me, I would list a home; hold it open for Broker’s Caravan day, again on Thursday evening for a Twilight Open and then Sunday open house. I Continue reading post…