Putting a house on the market disrupts the owners’ lives. They have to paint the walls; ensure everything is clean, neat, and staged; and be ready to vacate on short notice for showings. Kids and pets compound the hassle, which can go on for weeks or even months. There’s a simple alternative many people haven’t considered — or haven’t heard of — but it’s becoming more popular. Investors called “iBuyers’’ (short for instant buyers) make cash offers with no contingencies. They are often more flexible on closing dates; and some even assist with moving costs or let owners leave behind whatever belongings they don’t want to take with them. The investors usually buy the property for less than market value, then they make repairs, do cosmetic work, and put the house back on the market, expecting to sell it for a profit. Sellers net less money, but they get a simplified, fast, easy sale on their terms and timeline. Anthony … [Read more...] about ‘iBuyers’ offer below-market prices, appeal of a quick sale
Fast house sale
William J. Kole, Associated Press Updated 5:18 am CST, Monday, January 14, 2019 FILE - In this Jan. 15, 1919, file photo, the ruins of tanks containing more than 2 million gallons of molasses lie in a heap after erupting along the waterfront in Boston's North End neighborhood. Several buildings were flattened in the disaster, which killed 21 people and injured 150 others. less FILE - In this Jan. 15, 1919, file photo, the ruins of tanks containing more than 2 million gallons of molasses lie in a heap after erupting along the waterfront in Boston's North End neighborhood. Several ... more Photo: File, AP Photo: File, AP Image 1 of / 5 Caption Close Image 1 of 5 FILE - In this Jan. 15, 1919, file photo, the ruins of tanks containing more than 2 million gallons of molasses lie in … [Read more...] about 100 years ago in Boston: The day molasses was deadly fast
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page Milton J. Valencia and Tim Logan Globe Staff January 14, 2019 In the thick of an affordable housing crisis that has taken hold across Greater Boston, city councilors have proposed levying fees on high-end real estate deals to help pay for more housing — part of a bold and controversial movement across the region to tax developers who have been profiting off of a historic building boom.The proposal would set a tax of up to 6 percent on many commercial and residential sales over $2 million and establish a “flipping” tax of up to 25 percent on some properties that are sold twice within two years. It’s a bid to stem speculation and profiteering in Boston’s red-hot real estate market, the councilors say, and could raise anywhere from $175 million to $350 million a year. “We are in a crisis,” said City Councilor Lydia Edwards, the … [Read more...] about Amid housing crunch, city officials propose new real estate taxes on ‘flipping’ and sales over $2 million
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page Tim Logan Globe Staff December 27, 2018 HANOVER — In the woodsy back corner of the 77-acre Hanover Mall, the new owners of the long-struggling shopping center see an opportunity to change its fortunes. It’s not the movie theater that sits there now, or another big box store. No, it’s housing — four buildings with nearly 300 apartments that PREP Property Group, an Ohio-based company that bought the mall in 2016, wants to build.If it wins town approval, PREP would sell the land to a housing developer and use the proceeds to blow up the half-century-old indoor mall and turn it into an outdoor-oriented “lifestyle center,” like many of its newer competitors, with hundreds of customers in those apartments, just steps away. Advertisement “When I heard about their plans, it was like a revelation,” said Ed Callahan, who … [Read more...] about Housing at a shopping mall? It’s becoming more common in Mass.
JC Reindl Detroit Free Press Published 7:00 AM EST Dec 27, 2018 In mid-2012, Andrew Wallace and his son, Nathaniel, bought a two-bedroom condominium in Detroit's then-gritty and desolate Brush Park for $90,000. The Wallaces, who own a small IT business in Troy, did roughly $200,000 in renovations and then watched as Brush Park evolved from an area that was largely avoided into the city's Next Hot Neighborhood. This October, they sold the 4,400-square-foot condo to an out-of-state buyer. The sale price: $1.25 million. "It was surreal," Nathaniel Wallace, who lives in Detroit, recalled last week. "We knew we had something on our hands. I didn't think it would be over $1 million." That extraordinary deal was one of four $1 million-plus home sales in Detroit this year, which if not for last year's five sales, would have been a record, according to reported sales in the Realcomp multiple-listing service. Three of … [Read more...] about Detroit condos dominate list of $1M-plus home sales in 2018