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Word around town is that the big banks are going to start to foreclosing on many past due mortgages they have on their books. The feeling is they’ve been holding off until the economy shows signs of stabilizing and in many place we’re starting to see that stability. If you’re interested in locating investment opportunities through short sale and foreclosed properties, now would be a good time to start really eyeing to the market.

Here is our current Short Sale and Foreclosure list for Dorchester, MA.

197 Woodrow – Single Family
List Price: $235,853
Boston, MA : Dorchester 02124
36 Mount Ida Rd – Unit 3 List Price: $209,900
Boston, MA 02122
55 Devon Street – Unit 1 List Price: $234,900
Boston, MA : Dorchester 02121
123 Ruthven St – Unit 123 List Price: $241,000
Boston, MA : Dorchester 02121
77 Willowwood Street – 3 Family
List Price: $389,900
Boston, MA : Dorchester 02124
636-638 West Park Street – 3 Family
List Price: $424,000
Boston, MA 02124
47-49 Walnut – 3 Family
List Price: $480,000
Boston, MA 02122

Not interested in Dorchester? Are you interested in foreclosures and/or shorts sales in another area of Massachusetts? Please email (Contact@MandrellCo.com) your area(s) of interest and we can send you an updated report within a few hours.

 

 

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Somerville Real Estate Developers Give Advice To Future Investors

Dan Rubin & Ray Hurteau, from HRV Homes, invited Boston Wealth Builders out to their latest rehab project this past weekend. They’ve recently taken on a 3 family building in Somerville which they plan to convert into 3 luxury condos. The project located at 36 Rossmore Street will consist of three 2 bedroom/2 bathroom units with floor plans of approximately 1075 square feet. The project is scheduled to be completed in the spring of 2016 and each unit will be listed at $475,000.

Dan & Ray spoke to the group (of new and experienced investors) about how they found the building, how they are financing the construction, and their detailed plans for each unit. Is was a great opportunity for some newer investors to see a project in the progress and get a real feel for the business.

If you’d like to learn more about Dan, Ray, HRV Homes, and see photos of their current and past projects, you can visit their facebook page at https://www.facebook.com/hrvhomes

Would you like to attend future site visits  and other investor meetings? If so, join Boston Wealth Builders at http://www.BostonWealthBuilders.com. All of the meeting are free to the public. 

 

Somerville Condos For Sale

 

 

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What Credit Score Do I Need To Purchase A Home?

Are you thinking it’s time to purchase a home but not sure you’re credit score meets minimum requirements? In a video interview, Chris Graves of Sierra Pacific Mortgage, talks about credit scores and exactly what’s needed to make sure your mortgage application gets approved. If you have any additional questions, or would like to get yourself pre-approved for a mortgage, complete the form below and your information will be sent directly to Chris’s inbox.

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How long will mortgage loan rates stay at historic lows? Is now a good time to purchase a home? Should I refinance my existing mortgage? These are the questions everyone is asking. No one knows (outside of the FED) where rates are headed but common sense should tell us they can’t get much lower than they are currently. If you’re thinking of making a move….now would be a good time.

Here are the national average mortgage rates for this week.

  • 30-year fixed-rate mortgage (FRM) averaged 3.94 percent with an average 0.6 point for the week ending August 13, 2015, up from last week when it averaged 3.91 percent. A year ago at this time, the 30-year FRM averaged 4.12 percent. 
  • 15-year FRM this week averaged 3.17 percent with an average 0.6 point, up from last week when it averaged 3.13 percent. A year ago at this time, the 15-year FRM averaged 3.24 percent. 
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.93 percent this week with an average 0.5 point, down from last week when it averaged 2.95 percent. A year ago, the 5-year ARM averaged 2.97 percent.
  • 1-year Treasury-indexed ARM averaged 2.62 percent this week with an average 0.3 point, up from last week when it averaged 2.54 percent. At this time last year, the 1-year ARM averaged 2.36 percent. 

To give you an idea of where rates currently stand, compared to years past, we’ve provide you with the chart below.

Boston Mortgage Rates By Decade

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