Yearly Archives: 2010

BOSTON, MA - April 12, 2010 - (RealEstateRama) -- Boston Regional Challenge, a new report released today by the Urban Land Institute (ULI) Terwilliger Center for Workforce Housing, finds that the average working household in the Boston region spends over $34,000 a year – or 54 percent of their income – on the combined costs of housing and transportation.

BOSTON, MA - April 8, 2010 - (RealEstateRama) -- A former local attorney pled guilty in Suffolk Superior Court for his role in a complex scheme in which fraudulent documents were used to defraud homeowners and mortgage lenders in real estate transactions involving 26 distressed properties in the Greater Boston area. Bruce Namenson, age 47, of Walpole, pled guilty yesterday to charges of Larceny over $250 (18 Counts), Making or Publishing False or Exaggerated Statements (9 Counts), and False Written Reports by Public Officer or Employee (4 Counts). After the plea was entered, Superior Court Judge Carol Ball sentenced Namenson to serve 2 years in the House of Correction, one year to serve, with the balance suspended for 3 years.

ANDOVER, MA - April 8, 2010 - (RealEstateRama) -- Mold in a damaged home can create serious health problems for residents following the severe storms and flooding in March, warn Commonwealth/ FEMA officials overseeing the Massachusetts recovery effort.

Judgment part of statewide investigation into reports of discriminatory Internet advertising. BOSTON, MA - April 7, 2010 - (RealEstateRama) -- Attorney General Martha Coakley’s Office obtained a judgment against Linheart Smith, a Hyde Park landlord, resolving allegations that he made discriminatory statements in rental advertisements posted on the popular classified advertising website Craigslist.org (“Craigslist”). The judgment, signed by Suffolk Superior Court Judge John C. Cratsley, on April 2, 2010, provides a broad range of relief and preventive measures to ensure Smith’s future compliance with state and federal fair housing laws. This judgment is the result of a continuing statewide investigation by the Attorney General’s Office into reports of widespread discriminatory Internet advertising.“Our office’s lawsuit alleged that this landlord had discriminated against low-income individuals seeking housing. Landlords and real estate professionals must recognize that the rental market is a regulated industry and compliance with our anti-discrimination laws is an important obligation,” said Attorney General Coakley. “While we hope that this enforcement initiative will have a deterrent effect, our office will continue to monitor Craigslist and take action against landlords and real estate professionals who violate the law.”

WALTHAM, MA - April 6, 2010 - (RealEstateRama) -- The Massachusetts Association of REALTORS® (MAR) reported today that despite the record rain last month, the number of single-family homes put under agreement in March was up 27 percent over the same time last year, while condominiums were up 38 percent. March marks the ninth straight month that the number of both single-family homes and condominiums put under agreement had increased over the year before.

WALTHAM, MA - April 6, 2010 - (RealEstateRama) -- REALTORS® across Massachusetts and the country will be hosting open houses as part of the first-ever REALTOR® Nationwide Open House Weekend on April 10-11. With favorable market conditions and the availability of homebuyer tax credits, buyers will have the opportunity to tour an increased number of open houses in their desired communities. Participating open houses will be marked with blue REALTOR® “R” balloons and be listed

BOSTON, - March 31, 2010 - (RealEstateRama) -- Today, Attorney General Martha Coakley cautioned victims of the 2010 floods to do their homework when selecting contractors to repair the water damage to their properties, to avoid becoming a victim of a scam.“Today, most of the state for the second time is dealing with the damage from these unprecedented storms,” said Attorney General Coakley. “While many people have banded together through this difficult time, there are also unsavory individuals seeking to capitalize on this situation, and we urge consumers to do their homework when picking a contractor to fix their homes.”

WASHINGTON, DC - April 1, 2010 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to seven counties in Massachusetts and provide support to homeowners and low-income renters forced from their homes following the ongoing severe storm and flooding this month.

Latest series of "Opportunity Knocks” homebuyer fairs will be statewide on Saturday, April 10. BOSTON, MA - March 31, 2010 - (RealEstateRama) -- Governor Deval Patrick announced today that the latest series of free “Opportunity Knocks” regional homebuyer fairs and open houses to promote affordable homeownership opportunities in Massachusetts will be held on Saturday, April 10 across Massachusetts

Home sales up for eight consecutive months WALTHAM, MA - March 31, 2010 - (RealEstateRama) -- The Massachusetts Association of REALTORS® (MAR) reported today that median prices of single-family homes were up 7.7 percent compared to February 2009 while condominiums were up 12.8 percent compared to the same time last year. Home sales have now increased for eight straight months and were up 14.3 percent compared to the same time last year while condominium sales were up 14.8 percent

62 Mixed-Income Loft Development Will Boast ‘Green’ Efficiencies; Create 100 Construction Jobs March 29, 2010 - (RealEstateRama) -- Mayor Thomas M. Menino and city officials today celebrated the start of construction at the Oliver Lofts, a $25 million housing development on Mission Hill’s Terrace Street. The project involves the adaptive reuse of two, four and five-story historic mill buildings, previously vacant for 25 years. The completed project will add 62 new units of mixed-income, LEED-Silver housing – a total of nearly 95,000 square-feet of living space – to the neighborhood.

BOSTON, MA - March 26, 2010 - (RealEstateRama) -- An evaluation by the University of Massachusetts Donahue Institute has concluded that MassHousing’s Tenancy Preservation Program (TPP) is highly effective in preventing homelessness among tenants with mental disabilities.

March 24, 2010 - (RealEstateRama) -- Mayor Thomas M. Menino today joined city officials and community members in celebrating the new home of local after-school music education organization, ZUMIX, in a newly renovated firehouse at 260 Sumner Street in East Boston. The new 9,000-square-foot facility benefitted from $4.6 million in renovations over the past five years, and boasts a performance stage, several soundproof rehearsal rooms, a recording studio, and a radio station. The renovated firehouse, which was vacant for more than 30 years, replaces former ZUMIX headquarters on nearby Maverick Street.

$18 million in relief for Massachusetts homeowners; $4.1 million payment to Commonwealth. BOSTON, MA - March 24, 2010 - (RealEstateRama) -- As part of her office’s ongoing initiative to combat predatory lending practices that contributed to our nation’s economic crisis, Attorney General Martha Coakley today reached a significant settlement with Countrywide Financial Corporation (Countrywide) that will provide an estimated $18 million in loan modifications for Massachusetts homeowners, $3 billion in loan modifications for homeowners across the country, and a $4.1 million payment to the Commonwealth. Countrywide is now owned by Bank of America.The settlement, filed today in Suffolk Superior Court, expands an earlier agreement that Countrywide reached with 43 other state Attorneys General and the District of Columbia in 2008 for loan modification for certain delinquent borrowers and builds on standards set forth in the Home Affordable Modification Program (HAMP) administered by the United States Treasury

BOSTON, MA - March 22, 2010 - (RealEstateRama) -- A survey of home improvement contractors (HIC) conducted by the Patrick-Murray Administration's Office of Consumer Affairs and Business Regulation found that 85 percent of the contractors checked did not follow state laws requiring the listing of registration numbers on displays and other advertising.Since taking over the HIC program last July, the Office of Consumer Affairs has focused on ensuring contractors know the law regarding registration numbers and understand the importance of displaying the numbers. For consumers, being able to easily find and check a registration number is important as homeowners go through the process of considering a contractor. Hiring a registered contractor affords some protections and possible compensation from the state’s Guaranty Fund that would not be available if a consumer uses an unregistered contractor