Category Archives: Buying Property

Provincetown Condominium Donated to the Humane Society

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Check out this article about a condominium we have listed in Provincetown that was donated to The Humane Society of the United States.  The proceeds from this sale will go toward farm animal advocacy.

DETAILS AND PHOTOS OF 293 COMMERCIAL STREET, PROVINCETOWN

The perfect in town pied-a-terre! This is a bright and sunny 2nd floor studio unit, located in the heart of Provincetown’s downtown district, just steps from the pier. Windows facing south and west offer great light and sweet water views. Located in a mixed-use condominium consisting of 12 commercial spaces and 9 residential. Weekly rentals and pets for owners okay (limit 2 pets). The unit is offered fully furnished and equipped.

LISTED AT $215,000

 

 

 

The Incredible Shrinking Interest Rate

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The 30-year fixed mortgage rate fell again this week to the lowest level in at least 38 years, according to Freddie Mac’s weekly survey.

Mortgage rates have been pushed lower by weak housing demand and rising foreclosures. In addition, Treasury prices have risen, indicating that investors and financial institutions are retreating from riskier bets, and sending yields lower. Mortgage rates tend to follow the yields.

Earlier this week, the National Association of Realtors said its forecasting gauge of housing-market activity climbed to its highest level in more than three years in October. Last week, the association said October sales of existing homes jumped 10% as buyers continued to take advantage of a first-time-home-buyer tax credit, low prices and low mortgage rates.

The 30-year fixed-rate mortgage averaged 4.71% for the week ended Thursday, down from last week’s 4.78% average and 5.53% a year ago. Rates on 15-year fixed-rate mortgages were 4.27%, down from last week’s prior low of 4.29% and 5.77% a year earlier. Freddie has tracked 15-year rates since 1991.

Excerpted from The Wall St. Journal

First Time Homebuyer Tax Credit Extended!

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This week, we saw unanimous support in Senate and overwhelming support in the House for an extension of the First Time Home Buyer Tax Credit. Here’s a quick summary of the bill that the President has signed:

* First time home buyers must have a sale agreement in hand by April 30 and close escrow by June 30, 2010 and would get the full $8,000

* NEW ADDITION: CURRENT HOMEOWNERS looking for a new home could also qualify for a $6,500 credit if they have lived in their existing PRIMARY residence for at least FIVE (5) YEARS

* CHANGE IN INCOME RESTRICTIONS: The home buyer’s credit would be available to: individuals with earnings up to $125,000; or $225,000 for couples. This is up from $75,000 for individuals and $150,000 for couples under the current law

* EXCLUSIONS FROM THE TAX CREDIT: Homes that cost more than $800,000 are NOT eligible and the buyer must be over the age of 18 years old to claim the credit. Those who SELL their new home or STOP USING IT AS THEIR PRIMARY RESIDENCE within THREE (3) years would have to REPAY THE CREDIT