Steven's Page

While universities, private companies and government agencies shed jobs in light of the financial recession, many area college presidents continue to live the life of luxury. College presidents have traditionally received housing from their respective universities, but in a time of financial difficulty many students and other community members have started raising questions as to why universities continue paying for these opulent residences. A new… Continue

While residential real estate is showing some signs of improvement, the future of commercial real estate is still unclear. Default rates on commercial real estate have reached their highest points since the early 1990s and are expected to continue in this direction until at least 2012, says Richard Parkus of Deutsche Bank International in a recent Associated Press article.

In th… Continue

If you think the real-estate market is bad here in Massachusetts, consider the Vangelakos family from Weehawken, New Jersey and how the foreclosure crisis has affected them. The family bought into a high-rise development in Fort Myers, Florida, unaware of the fact that nobody would be living in the 32 story building.

In the beginning, other prospective buyers had put down payments on the condos, but most of them did not follow through. The few that did end up purchasing one of the condos transf… Continue

Source

As unemployment rates across the country continue to worsen, foreclosure rates in some of the most hard-hit states in the U.S.… Continue

The road to recovery for the real estate market is going to be long and difficult one, and a new rule governing the way in which appraisals are handled is making it even more tedious. On May 1st, 2009 a new federal code that forbids real estate brokers from choosing their own appraisers took effect and has created many problems for buyers, sellers, brokers, appraisers and many other people who take part in the home-buying process.

This new law was created as part of a lawsuit filed by the State… Continue