Boston Herald - Boston Herald

History keeps Bruin in Monument Square

Paul Restuccia — Sat, 18 May 2013 00:00:00 -0400

Bruins star Tyler Seguin’s former bachelor pad — with panoramic city views and a private deck made for entertaining — is up for sale in Charlestown’s Monument Square.

This penthouse condo in an 1850-built brick and granite building had an interesting history before Seguin rented it.

Bidding duels rife in Boston suburbs

Jennifer Athas — Fri, 17 May 2013 00:00:00 -0400

Michael Cucchi, a thirty-something technology executive, and his wife, Kathleen, a research director, thought finding a house to buy this spring would be a relatively simple process.

They’ve been teaching themselves about the real estate market, passively looking for a year and a half and aggressively bidding on places for the past two months.

Armed with a pre-approval letter, as well as already owning the condo they live in on the North Shore, which they don’t need to sell, the Cucchis set out to purchase a home closer to their jobs in Cambridge.

Garden project: Builder plans huge hotel, housing, retail complex

Chris Cassidy — Fri, 17 May 2013 00:00:00 -0400

A massive twin tower complex of hotel rooms, condos, offices and shops would be the new gateway to the TD Garden under a plan that developers — linked to the Bruins — hope will turn the Causeway Street area into a trendy year-round hangout.

“This is really a hot part of the city,” Delaware North Companies and Boston Bruins principal Charlie Jacobs told the Herald yesterday. “We expect this to transform the area, both for West Enders and North Enders.”

Mass. statehouse panel Oks affordable housing bill

Associated Press — Wed, 15 May 2013 15:47:50 -0400

BOSTON — A bill designed to expand and preserve affordable housing in Massachusetts is making its way through the Statehouse.

The Legislature's Joint Committee on Housing has advanced a five-year, $1.4 billion housing bond bill. The legislation would provide additional authorization for housing programs for low-income and moderate-income residents across the state.

US homebuilder confidence rises in May from April

Associated Press — Wed, 15 May 2013 11:30:02 -0400

Confidence among U.S. homebuilders rebounded this month, reflecting improved sales trends during the spring home-selling season and the strongest outlook for sales over the next six months in more than six years.

The National Association of Home Builders/Wells Fargo builder sentiment index released Wednesday rose to 44 in May from 41 in April. The increase for May was the first month-to-month gain since December.

Measures of interest by prospective buyers and current sales conditions also improved from April's reading.

Pending home sales set record

Ira Kantor — Wed, 15 May 2013 00:00:00 -0400

The Massachusetts Association of Realtors said more pending home sales were reported last month than in any month since January 2004 when the group began tracking the data.

Condominium pending sales hit their second highest level, MAR said yesterday.

The number of single-family homes put under agreement in April was up 32.8 percent to 5,948 compared to the same time last year. On a month-to-month basis, single-family homes put under agreement were up 38 percent compared to 4,308 homes in March 2013.

MAR: Pending home sales in April highest on record

Ira Kantor — Tue, 14 May 2013 14:03:58 -0400

The Massachusetts Association of Realtors reported today that more pending home sales were reported last month than in any month since January 2004 when MAR began tracking the data.

Though not at an all-time high, condominium pending sales hit their second highest point, MAR said.

Foreclosures sink, but so do sales

Donna Goodison — Tue, 14 May 2013 00:00:00 -0400

A drastic reduction in foreclosure activity points to the end of Massachusetts’ foreclosure crisis, but a shortage of homes for sale is preventing a true housing market recovery.

“What we’re seeing ... is an overall shortage of a good supply of homes for sale, and that’s the only thing we’re missing from a sustainable housing recovery,” said Kimberly Allard-Moccia, broker/owner of Century 21 Professionals in Braintree and president of the Massachusetts Association of Realtors.

March data shows Massachusetts home foreclosure crisis is over

herald.staff — Mon, 13 May 2013 08:52:00 -0400

A significant decline in Massachusetts foreclosures in March shows the Bay State's foreclosure crisis is over, according to industry tracker The Warren Group.

Lenders filed 284 petitions to foreclose in March, an 82 percent decrease from 1,621 in March 2012, according to data from The Warren Group. A total of 2,080 petitions to foreclose have been filed in Massachusetts during the first quarter, a 52 percent decrease from 4,348 in the first quarter of last year. Petitions to foreclose represent the first step in the foreclosure process in Massachusetts.

Co. buys more on Newbury St.

Donna Goodison — Mon, 13 May 2013 00:00:00 -0400

Boston real estate investment firm UrbanMeritage has snapped up its second Newbury Street property in just more than a month.

An improving retail climate on the block prompted the company to scoop up the five-floor building at 205 Newbury St. for $8.06 million. Tenants include International Poster Gallery, frozen dessert chain Tasti D-Lite, the Peter & Yerem hair salon, and interior design firm Eugene Lawrence & Co.

Mass. AG Coakley unveils anti-foreclosure program

Associated Press — Sun, 12 May 2013 12:50:25 -0400

BOSTON — Attorney General Martha Coakley is announcing a new initiative to help Massachusetts cities and towns with high rates of distressed and vacant properties cope with the recent foreclosure crisis.

Coakley says her office is now accepting applications for a $1 million grant program designed to identify and return bank-owned properties to productive residential use.

The program is a collaboration with the state's registries of deeds. It relies on funds recovered by Coakley's office through a recent multi-state settlement related to unlawful foreclosure methods.

Obama calls on Congress to help more homeowners

Associated Press — Sat, 11 May 2013 09:36:23 -0400

WASHINGTON — President Barack Obama says Congress must give more homeowners the chance to refinance their mortgages to save money.

Obama says more than 2 million people are saving about $3,000 a year after restructuring their loans under his administration but that more deserve the same chance.

In his weekly radio and Internet address, Obama also calls on the Senate to confirm "without delay" his choice of Democratic Rep. Mel Watt to lead the Federal Housing Finance Agency, which oversees government-controlled mortgage lenders Fannie Mae and Freddie Mac.

Spacious loft is party-perfect

Paul Restuccia — Sat, 11 May 2013 00:00:00 -0400

This Leather District loft has an enormous living area and a large semi-circular bi-level custom kitchen island, a combo that’s ideal for entertaining.

The 1,750-square-foot loft at 102 South St. No. 2 has two bedrooms, one of which is a carpeted master bedroom suite with a Carrara marble bathroom and two large closets with custom built-ins. It’s on the market for $799,000.

Bravo star’s hard work has Boston roots

Ira Kantor — Fri, 10 May 2013 00:00:00 -0400

Ryan Serhant’s “always be closing” mindset when it comes to selling luxury real estate in the Big Apple can be traced back to a family farm in the Bay State town of Topsfield.

It was there that Serhant, the 28-year-old star of Bravo’s “Million Dollar Listing New York,” was introduced to the concept of hard work as a youngster by picking up sticks for $1.50 an hour every weekend under the watchful eye of his father, John, former vice chairman of State Street Global Advisors.

Wynn again for Everett

Marie Szaniszlo — Fri, 10 May 2013 00:00:00 -0400

Wynn Resorts Chairman and CEO Steve Wynn will share new details and renderings today of his proposed $1.2 billion resort casino along the Mystic River in Everett.

Wynn’s appearance at noon at the Everett Armory on Chelsea Street will mark his first visit to the city since local officials signed a host community agreement with him.

Everett residents will vote June 22 on whether to allow the resort casino, Wynn Everett, to be built on a vacant factory site.

Record profit signals healthier Fannie Mae

Associated Press — Thu, 09 May 2013 16:22:48 -0400

WASHINGTON — Fannie Mae said something Thursday that would have been unthinkable a few years ago: It earned a record $58.7 billion profit in the January-March quarter.

And it made clear it's on the cusp of repaying taxpayers for one of the most expensive bailouts of a single company in the financial crisis.

For Fannie, the future hasn't looked this bright since 2006.

Green measure OK will cost Boston landlords

Marie Szaniszlo — Thu, 09 May 2013 00:00:00 -0400

Property owners say they fear an energy measure passed by the City Council yesterday could eventually mean they’ll be forced to spend hundreds of millions of dollars to upgrade old buildings — costs, they say, that would ultimately be passed on to their tenants.

Merck: FDA reviewing its ragweed allergy therapy

Associated Press — Wed, 08 May 2013 13:23:40 -0400

WHITEHOUSE STATION, N.J. — Drugmaker Merck & Co. says the Food and Drug Administration is reviewing its second application to sell a new type of allergy treatment meant to gradually reduce allergic reactions over time, rather than just relieving sneezing, itching and other symptoms temporarily.

Merck's latest application is for an allergy immunotherapy tablet for ragweed allergies that dissolves under the tongue. Patients in studies of the tablet took it daily for a year.

Late-payment rate on mortgages tumbled in 1Q

Associated Press — Wed, 08 May 2013 12:27:23 -0400

LOS ANGELES — A resurgent housing market, rising home values and steady job gains are helping more U.S. homeowners stay on top of their mortgage payments.

The percentage of mortgage holders at least two months behind on their payments fell by 21 percent in the first three months of this year versus the same period in 2012, credit reporting agency TransUnion said Wednesday.

The sharp annual decline in the mortgage delinquency rate represents the biggest quarterly drop on record for TransUnion, whose data go back to 1992.

Freddie Mac posts $4.6B net income for Q1

Associated Press — Wed, 08 May 2013 11:58:44 -0400

WASHINGTON — Mortgage giant Freddie Mac earned $4.6 billion from January through March, helped by a stronger housing market. The government-controlled company has turned a profit in the past six quarters.

Freddie said Wednesday that it will pay a dividend of $7 billion to the U.S. Treasury next month and requested no additional federal aid for the fourth consecutive quarter.

The earnings compared with net income of $577 million in the first quarter of 2012.