by iwd Tina | Jun 21, 2011 | Housing News
The median price for single-family homes sold in Massachusetts during the month of February jumped 8.4 percent compared to a year earlier, the third consecutive month of year-over-year increases in prices, according to a new report from The Warren Group, publisher of Banker & Tradesman. The uptick in home prices comes as single-family home sales escalated 13.5 percent in February.”
The local housing market has definitely gained momentum in the last few months as single-family home sales have risen year-over-year for eight months in a row. The increase in sales volume has helped fuel pretty significant gains in median prices over the last three months,” said Timothy M. Warren Jr., CEO of The Warren Group.
Warren added, “There’s growing confidence in the housing market. Historically, median prices have increased after consistent gains in sales volume, but there is real concern about what will happen to home sales once the federal government withdraws its support of the housing sector, including ending the homebuyer tax credit.”
The median price for a single-family home climbed to $269,950 from $249,000 in February 2009. The year-to-date median home price is up 9.8 percent to $280,000 from $255,000.
Please click here to read the full article from Banker & Tradesman.
by iwd Tina | Jun 21, 2011 | Housing News
Beginning in 2010, utilities in Massachusetts will offer a new, multi- million dollar energy efficiency retrofit grant program for existing low-income multi-family properties (five or more units) owned by public housing authorities and non-profits.
The program will provide owners direct services that will include benchmarking a development’s energy use and in most cases an energy assessment. This “whole building” assessment will evaluate all energysaving
opportunities in a building, regardless of fuel source and whether the owner or tenant pays metered usage. Grants will be offered to implement the most cost-effective measures (to reduce gas and electricity usage, and possibly, oil); in some cases, a co-payment may be required. A more detailed program description is here.
A program overview session will be held on February 25th at 10 am – 11:30 am at the office of ABCD (178 Tremont Street, Boston, 3rd Floor). Please RSVP to Ellen Tohn at etohn@tohnenvironmental.com
by iwd Tina | Jun 21, 2011 | Housing News
Joe DeNucci, State Auditor, News Release – On February 24, 2010, State Auditor Joe DeNucci reported that years of underfunding of operating and capital budgets have resulted in the deterioration of state-subsidized public housing units for people with special needs, depriving them of decent, safe, secure and sanitary housing.
During the audit period, there were 1,904 special needs housing units owned by 115 housing authorities across the state. Under this program, human service providers manage these units under contracts with various state agencies, including the Departments of Mental Health (DMH), Developmental Services (DDS), and Public Health (DPH). The providers make rent payments to the housing authorities and the state funding agencies pay an annual maintenance fee of $2,000, but the housing authorities are responsible for the cost of repairs.
DeNucci’s audit, which reviewed conditions of special needs units at 30 selected local housing authorities across Massachusetts, cited such health and safety problems as mold and mildew; rotted and damaged window frames and roofs; broken and missing floor and bathroom tiles, safety railings and cabinets; failing heating systems and boilers; animal infestation of units; and debris and shrubbery overgrowth in yard areas.
DeNucci commended the Patrick Administration and the Legislature for providing increased funding for housing authorities since his 2006 report that found many public housing units to be in serious disrepair. However, he noted that the current fiscal crisis has curtailed these funding increases, and housing authorities do not receive adequate rental income or annual maintenance fees to cover their operating and capital needs. Also contributing to the problem, according to DeNucci’s report, is an inefficient and cumbersome lease process that fails to clearly identify responsibility for proper upkeep and modernization of these public housing units.
“I recognize the serious fiscal problems we are facing at this time,” said DeNucci, “but I hope we can make this important program a priority. Vulnerable people with special needs deserve to live in safe, decent and sanitary units.”
The following local housing authorities were reviewed as part of DeNucci’s report: Amherst, Attleboro, Barnstable, Boston, Bourne, Brockton, Chelmsford, Cohasset, Dennis, Fall River, Fitchburg, Framingham, Grafton, Hingham, Hudson, Mansfield, Methuen, Milton, Needham, Norwell, Orleans, Plymouth, Quincy, Sandwich, Sharon, Somerville, Taunton, Waltham, Westfield and Worcester.
by iwd Tina | Jun 21, 2011 | Housing News
Foreclosures in Massachusetts rose nearly 30 percent in October from the previous month, but 85 fewer foreclosures were recorded compared to the same month last year, according to the latest report by The Warren Group, publisher of Banker & Tradesman. At the same time, the number of foreclosures initiated in October dropped 9 percent from September but climbed 11 percent from a year earlier.
Please click here for the full article.
by iwd Tina | Jun 21, 2011 | Housing News
Boston, MA – July 20, 2010 – Today, the Warren Group released data that shows the number of completed foreclosures increased over 56 percent in the first six months of 2010 compared to a year earlier. Foreclosure deeds, which are recorded when a property has been foreclosed on, rose from 4,742 for the first half of 2009 to 7,431 during the same time period in 2010. Without further action to stem home losses, the Commonwealth is on pace to set a new record for foreclosures completed in a year – more than 14,860 households are on pace to lose their homes in 2010.
To address this crisis, we call upon the Massachusetts legislature to pass critical legislation before the end of the legislative session on July 31st.
An Act to Stabilize Neighborhoods would provide meaningful relief to keep people in their homes while they rebound from difficult economic times, at no expense to the state budget. The legislation would also reduce the public safety challenges that abandoned and blighted homes create in a neighborhood. Key provisions include 1) delaying a foreclosure by an additional sixty days if the financial institution neglects to consider a loan modification, 2) protecting lawful tenants of foreclosed properties from unnecessary displacement, and 3) criminalizing willful acts of mortgage fraud.
The bill passed the Senate unanimously and is currently before the House Committee on Ways and Means.
Please click here to download a copy of this statement.
