Foreclosure petitions drop, but deeds nearly double
— By: Marilyn JacksonA record number of foreclosures were recorded across the state in July, but the number of petitions to foreclose dropped, according to the Warren Group, which publishes Banker & Tradesman.
The petitions are the first step of the foreclosure process, and many times the financial problems can be resolved before the properties are sold.
Fewer petitions may be a hint that the housing crisis is abating. The federal government has created programs to help rescue homeowners who are facing foreclosure.
Plum Beacon Hill building sold
— By: Marilyn JacksonPlum Beacon Hill office building sold
A California-based real estate investment and management company with offices in Waltham has bought the 11-story office building at 9-11 Beacon St., Beacon Hill.
Nathan R. Miller Properties sold the 147,751-square-foot building Aug. 11 to 11 Beacon LLC, which is part of DivcoWest Real Estate Services in San Francisco, for $16 million.
Stuart Shiff, founder and a principal of DivcoWest, said in a press release it plans to upgrade the property to attract public agencies and professional firms as tenants.
