Foreign investors are bullish on Boston
— By: Marilyn JacksonA recent survey shows that foreign investors are looking favorably at Boston for investing in real estate.
The Association of Foreign Investors in Real Estate named Boston among the top five cities in the country. The top two cities are Washington, D.C., and New York City, followed by San Francisco.
Boston ranked fourth, up from seventh place last year, and Los Angeles, fifth.
Globally, London appears to be the favorite city for investors’ real estate dollars, outdistancing Washington and New York.
Good news, bad news
— By: Marilyn JacksonThis week, the Warren Group issued its report on foreclosures for the year. The number of foreclosure proceedings initiated across the state was 28.1 percent higher than last year. However, that number – 27,928 – was 5.5 percent below than that in 2007.
That’s the unsettling news. The good news is that those foreclosure proceedings completed dropped from 12,430 in 2008 to 9,269 – a 25.4 percent decline. Still, that’s higher than the 7,653 foreclosure deeds that were recorded in 2007.
A foreclosure petition is the first step in the foreclosure process.
Slightly more than three years ago, two penthouses in the Financial District at Folio Boston, 80 Broad St., were among 34 luxurious condominiums that were offered at auction.
Two brand new condominiums have been built in an 1885 row house near the crest of the ridge that runs through Charlestown. The units are well planned, with floor plans and amenities that will enhance life there.
Beacon Hill is a quiet enclave, and the Flat of Beacon Hill is a distinctive residential neighborhood bound by Charles and Beacon streets, Storrow Drive and Cambridge Street.
The Hotel Vendome at 160 Commonwealth Ave. was built in 1871 in the Back Bay and became the premier place to live in Boston.
