Yearly Archives: 2009

Massachusetts Home Sales up a Record 63 Percent in November as Buyers Took Advantage...

Homes put under agreement in November up for the sixth straight month. WALTHAM, MA - December 22, 2009 - (RealEstateRama) -- The Massachusetts Association of REALTORS® (MAR) reported today that single-family home sales were up a record 63.1 percent compared to November 2008, as buyers expected the first-time homebuyer tax credit to expire at the end of the month (instead it was extended to April 2010). Condominium sales also hit record levels going up 76.2 percent compared to the year before. Median prices were up 0.7 percent compared to last year, while condominium median prices were essentially flat going down only 0.4 percent. November pending sales (homes put under agreement) were up 15 percent from the same time last year. Pending sales have now gone up for six straight months

City set to move forward on $21.5 million in ARRA roadway resurfacing projects

December 21, 2009 - (RealEstateRama) -- Mayor Thomas M. Menino today announced that the Massachusetts Department of Transportation (MassDOT) is now accepting contract bids on behalf of the City of Boston for $21.5 million worth of road repair and resurfacing projects in Boston. The funding, awarded through the American Recovery and Reinvestment Act (ARRA), will support five separate construction contracts covering a total of 18.6 miles of roadway in various neighborhoods of the City. Allston-Brighton, Charlestown, Dorchester, Hyde Park, Jamaica Plain, Mattapan, Roslindale, South Boston, West Roxbury, and Downtown will all benefit from projects made possible by this funding.

Mayor Menino announces Boston will receive major grant to expand broadband access

December 17, 2009 - (RealEstateRama) -- Today, Mayor Thomas M. Menino announced that Boston is one of the first cities in the nation to receive a major grant of $1.9 million from the National Telecommunications and Information Administration (NTIA) through the Broadband Technology Opportunities Program authorized by the American Recovery and Reinvestment Act (ARRA).

City Partners with State to Seek $60 Million in Federal Recovery Funding for Energy...

December 17, 2009 - (RealEstateRama) -- Today, Mayor Thomas M. Menino announced that the City of Boston has joined with the Commonwealth of Massachusetts in seeking $60 million of American Recovery and Reinvestment Act (ARRA) funding to support energy efficiency statewide and the Renew Boston Rental Property Retrofit Program. Under the grant proposal, $15 million would support the Renew Boston program with targeted investments along the Blue Hill Avenue corridor utilizing a full compliment of incentives to afford landlords the opportunity to invest in energy efficient upgrades that benefit their tenants. Over 60 percent of corridor residents living in rental housing and many residents spend more than 10 percent of household income on energy. The program will also compliment the city’s green jobs program, including a pending $4 million U.S. Department of Labor Pathways Out of Poverty grant request.

Massachusetts Association of REALTORS Charitable Foundation Makes $3,000 Donation to ‘Homes for our Troops’

WALTHAM, MA - December 15, 2009 - (RealEstateRama) -- The Massachusetts Association of REALTORS® Charitable Foundation made a $3,000 donation to Homes for Our Troops, a national non-profit organization that provides homes at no cost to severely injured Servicemen and Servicewomen and their immediate families. The donation was presented to Homes for Our Troops at the “Build Brigade” for the construction of the home for Army Sergeant Michael Downing on Friday, December 11, 2009 in Middleboro. Downing was on his second deployment when he was left a double amputee after an IED explosion in Afghanistan in September 2008.

HUD CHARGES MASSACHUSETTS CONDO BOARD AND MANAGEMENT COMPANY WITH DISCRIMINATING AGAINST FAMILIES WITH CHILDREN

WASHINGTON, DC - December 7, 2009 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development today announced that it is charging an Andover, Massachusetts, condominium association, a property management company, and two individuals with discriminating against families with children. HUD accuses Property Management of Andover, Inc., and its property manager, and Stonecleave Village Association, and its president, with unlawfully charging fees to parents for allowing their children to play in the common area

Mayor Menino Expects Fewer New Property Tax Liens Despite Tough Economy

December 4, 2009 - (RealEstateRama) -- Today, Mayor Thomas M. Menino announced that the number of new property tax liens expected to be filed for Fiscal Year 2009 is 18 percent less than FY 2008. The value of these new liens represents only half a percentage point of the total FY 2009 tax levy of $1.4 billion

MassHousing Approves $295,000 for Affordable Sober Housing in Massachusetts

BOSTON, MA - December 3, 2009 - (RealEstateRama) -- MassHousing has approved $295,000 in funding for the creation or preservation of affordable sober housing for men, women and veterans in Boston, New Bedford, Salem and Worcester. The MassHousing grants, ranging from $35,000 to $75,000, will come from the Center for Community Recovery Innovations, Inc. (CCRI), a nonprofit subsidiary corporation of MassHousing that creates and preserves affordable sober housing in Massachusetts for recovering substance abusers. CCRI to date has awarded more than $4 million in grants for sober housing for more than 1,000 units of substance-free housing in more than two dozen communities for men, women, families, veterans, the homeless and ex-offenders.

MassHousing Announces $1.4 Million Loan Commitment for the Development of Affordable Rental Housing in...

BOSTON, MA - December 3, 2009 - (RealEstateRama) -- MassHousing announced a $1.4 million loan commitment today to help develop 43 affordable apartments for low-income families as part of a 62-apartment mixed-income historic redevelopment in Mission Hil

MassHousing Announces $5.9 Million in Loan Commitments for Affordable Rental Housing in Tyngsborough

BOSTON, MA - December 3, 2009 - (RealEstateRama) -- MassHousing announced loan commitments today of up to $5.9 million for the development of Maple Ridge, a 72-unit affordable rental community in Tyngsborough

Gov Patrick Highlights – Expiring Use – Rental Housing Law, Announces $150m Fund to...

New law, leveraging of public/private funds protects tenants. BOSTON, MA - November 30, 2009 - (RealEstateRama) -- Standing with housing and community leaders, Governor Deval Patrick today highlighted a law he signed last week to keep publicly-assisted rental properties affordable and announced the roll-out of a $150 million loan fund leveraged primarily through private dollars to support and secure long-term affordable housing preservation efforts.

Apartment Complex Owner Pays Fine for Failing to Warn Tenants about Lead Paint in...

Boston, MA - November 30, 2009 - (RealEstateRama) -- The owner of a 25-unit apartment building in Springfield, Mass. has agreed to pay a fine of $10,000 to settle an EPA enforcement action alleging violations of federal lead-based paint disclosure requirements.

Massachusetts Home Sales up Over 17 Percent in October as Buyers Took Advantage of...

WALTHAM, MA - November 25, 2009 - (RealEstateRama) -- The Massachusetts Association of REALTORS® (MAR) reported today that single-family home sales were up over 17 percent compared to October 2008 as buyers made sure to take advantage of the first-time homebuyer tax credit before it was set to expire. Condominium sales also were up 17 percent. Median prices were down 2.6 percent compared to last year, while condominium median prices were down 4.0 percent. October pending sales (homes put under agreement) were up 27 percent from the same time last year. This is the fifth straight month of increases.

Affordable housing in Massachusetts, Maine, and Vermont gets $3.0 million infusion

BOSTON, MA - November 25, 2009 - (RealEstateRama) -- The Federal Home Loan Bank of Boston (the Bank) has awarded $3.0 million in the form of grants, loans, and interest-rate subsidies through its Affordable Housing Program (AHP). These funds will be used to finance 79 units of affordable rental and ownership housing for households earning at or below 80 percent of area median income in three New England states. Of that amount, $2.6 million will be awarded as a grant or subsidy

Massachusetts Home Sales up Over 17 Percent in October as Buyers Took Advantage of...

WALTHAM, MA - November 24, 2009 - (RealEstateRama) -- The Massachusetts Association of REALTORS® (MAR) reported today that single-family home sales were up over 17 percent compared to October 2008 as buyers made sure to take advantage of the first-time homebuyer before it was set to expire. Condominium sales also were up 17 percent. Median prices were down 2.6 percent compared to last year, while condominium median prices were down 4.0 percent. October pending sales (homes put under agreement) were up 27 percent from the same time last year. This is the fifth straight month of increases.

Recent

AG Healey Secures $2 Million in Restitution for 20,000 Massachusetts Homeowners...

One of the nation’s largest mortgage servicers will pay $2 million in restitution to resolve allegations that it violated state law and committed unfair and deceptive practices by charging Massachusetts homeowners for unnecessary fees and overpriced force-placed insurance policies, Attorney General Maura Healey announced today