Boston home sales on the rise for the 4th straight month

With the tax credit, low interest rates and improved consumer confidence helping to move buyers into the market, Massachusetts has seen an increase in the number of homes sold for the fourth month in a row. October saw its highest number of sales since 2005 – showing a 17.2% increase over the same month last year.

Click here to see more details on boston.com.

For more information on Boston homes for sale , go to Gibson Sotheby's International Realty, Boston's real estate experts.

Spotlight on Boston real estate: Preparing to buy a home?

A recent article on msnbc.com explored the current climate for purchasing a home and created a very helpful list for first-time homebuyers who are looking to take advantage of the federal tax rebate. If you are preparing to buy your first home, there are a number of things that you can do to better prepare yourself for it. From polishing your credit report to considering the maintenance costs of a particular property, there is much that a new homeowner can do to avoid unpleasant surprises.

To read the complete article, go to msnbc.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Spotlight on Boston real estate: The State of the Market

Joe Wolvek of Gibson Sotheby’s International Realty has released another State of the Market report for Boston’s neighborhoods. The bottom line is that Under Agreements are up. Why? Well, Wolvek sites a few reasons, including low interest rates, the $8000 first-time homebuyer tax credit and a recent slight boost in consumer confidence.

To find read more of Joe Wolvek’s State of the Market report, go to bostonrealtyweb.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Real Estate Update: Will you qualify for the $8,000 tax credit?

President Barack Obama’s $787 billion stimulus plan includes an $8,000 tax credit to first time home buyers for 2009 purchases. Though short of the $15,000 credit that the National Association of Realtors was suggesting, this credit, combined with low interest rates, incentivizes prospective buyers in a challenged market.

However, buyers should be aware that there are qualifying factors. US News & World Report put out a comprehensive article on the details of the package. Read the full article on USNews.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Real Estate Update: Mortgage agents are very busy following Obama plan

Reuters.com reported that mortgage agents are working hard to keep up with the recent spike in demand for refinancing and new mortgages. All of this is purportedly due to the $275 billion housing plan from President Obama.

Read the full article on Reuters.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Real Estate Update: New winners emerge in this market

WJS.com reported on a substantial rise in first time homebuyers since 2006. The statistics show that more newcomers are able to get into the market, with rates AND prices down (in much of the country) – specifically, at the end of 2008, 41% of buyers were first-timers. In 2006, the number was only 36%.

Read the full article on WSJ.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Real Estate Update: Fed’s plan to buy mortgage-backed securities will be announced tomorrow

CNBC.com released details on the soon-to-be-announced government plan to buy mortgage-backed securities. Treasury Secretary, Tim Geithner, will be presenting a comprehensive relief plan, intended to free-up lending, as well as offer some assistance to distressed homeowners and challenged firms that have applied for aid under the TARP (Troubled Asset Relief Program).

Read the full article on CNBC.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Real Estate Update: Obama to launch plan for mortgage relief

A recent article on Reuters.com detailed a soon-to-be-unveiled plan by the president to lower mortgage costs. This would be part of a stimulus package to address burdened homeowners and those seeking new mortgages.

Read the full article on reuters.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Boston Real Estate Update: Local banks move into the mortgage biz

A recent article on Boston.com detailed an interesting change in the mortgage market. Many nationwide companies who offer mortgages have been hard hit by defaults and tightening restrictions. In some cases, the local banks were not hit nearly as hard and are now able to offer more beneficial loans. So, if you are in the market for a new home, try stopping by your local bank to see what they can do for you.

Read the full article on boston.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

Boston sees mortgage restrictions loosen for some

John Ranco, Sales Director of Gibson Sotheby’s International Realty and President Elect of the Greater Boston Real Estate Board, has made mortgages a key topic in recent sales meetings for his team of 160 sales agents.

“In this challenging market, it is critical for our agents to be knowledgeable about the most up-to-date mortgage guidelines. We’ve invited several firms to talk with us. And, we are excited about some of the opportunities that are on the horizon,” says Ranco.

One key to these opportunities is an influx of cash from the federal government, aimed at filling voids in the real estate financing market. Joe Smith from Countrywide Mortgage said that companies like his may be able to offer much needed financing to future new developments. Currently large new development projects are faced with tougher guidelines and restrictive pre-sale requirements. Smith says that Countrywide (soon to be Bank of America) may be able to improve on the federal guidelines for developers in Boston. This is good news for real estate buyers and the local construction industry.

In addition, Countrywide is able to offer loans to homebuyers with only 3.5% down, in some cases. This is contrary to the recent news reports that indicate an industry-wide halt on attractive mortgages. Smith says that there are still a lot of really great products out there and many with 4-5% interest rates.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

2009 May see rate relief for Boston’s jumbo mortgages

A recent article on Bloomberg.com indicates that we may see rate drops for jumbo mortgages in 2009. This is due to Ben Bernanke’s plan for the Fed to buy $500 million in securities issued by Fannie Mae and Freddie Mac. It would affect Boston, New York and San Francisco; areas that see many homes in the higher price ranges.

View the complete article on Bloomberg.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

CNBC host encourages buying a home

Mad Money host, Jim Cramer encouraged investors to buy a home on Tuesday – in fact, he commanded it! He celebrated the Fed’s move to lower interest rates and believes the housing market will soon rebound.

View the complete clip on CNBC.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.

House values are under scrutiny

If you are looking to sell your home or to buy a new one, you might be surprised at the increasing scrutiny that lenders are putting on home values. An article in the San Francisco Gate says that many banks are often demanding more thorough appraisals to be sure that their investment in your home (the money lent for a mortgage) is a safe investment.

Read the rest of this article on sfgate.com.

For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.