Richard Vetstein

HUD Announces Delay In Enforcement Of New RESPA Rules For 120 Days

by Rich Vetstein 11.14.2009 Closings
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For my entire series on the new 2010 RESPA rules, look to the right under “Spotlight On: RESPA Reform” or click here. The U.S. Department of Housing and Urban Development (HUD) announced on Friday that it will not enforce for a 120 day period new, sweeping regulatory changes to the Real Estate Settlement Procedures Act [...]

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The Massachusetts Offer To Purchase Real Estate: A Binding Contract

by Rich Vetstein 09.08.2009 Condominium Law
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The Standard Massachusetts Offer To Purchase The first step in purchasing or selling Massachusetts residential real estate is the presentation and acceptance of an Offer To Purchase. Most often, the buyers’ real estate broker prepares the offer to purchase on a pre-printed Greater Boston Real Estate Board standard form and presents it to the seller [...]

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Time’s A Runnin’ Out On The First Time Homebuyer $8,000 Credit

by Rich Vetstein 09.08.2009 Massachusetts Property Values

Now that time is running out on the First Time Home Buyer Credit–what I call the Realtor Cash For Clunkers program — I came across this comically shameless video produced by one of America’s largest real estate brokerage companies. [http://www.youtube.com/watch?v=2leBqxcwhvI] But seriously folks, the credit seems like a good idea, but filled with exceptions.  From [...]

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Ibanez Update: Massachusetts Land Court Decision Invalidates Foreclosures Based On Post-Sale Assignments

by Rich Vetstein 08.27.2009 Foreclosure
Massachusetts Ibanez foreclosure decision Land Court

Breaking News (1.7.11): Mass. Supreme Court Upholds Ibanez Ruling, Thousands of Foreclosures Affected Update (2/25/10)–Mass. High Court May Take Ibanez Case Breaking News (10/14/09)–Land Court Reaffirms Ruling Invalidating Thousands of Foreclosures. Click here for the updated post. In late March of this year in the case of U.S. Bank v. Ibanez, Massachusetts Land Court Judge [...]

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There’s Nothing “Standard” About The Massachusetts Standard Form Real Estate Purchase And Sale Agreement

by Rich Vetstein 08.21.2009 Condominium Law
Standard Form Massachusetts Real Estate Purchase Sale Agreement

Anything But “Standard” Home buyers sign a never ending pile of legal documents to purchase a home. But arguably the most important document in the entire transaction is the Massachusetts purchase and sale agreement. The purchase and sale agreement is signed after the Offer to Purchase is executed, and spells out the parties’ responsibilities during [...]

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Massachusetts Security Deposit Law: To Take A Security Deposit Or Not To Take One, That Is The Question.

by Rich Vetstein 08.05.2009 Landlord Tenant Law
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My last post on this blog and on Boston.com on Massachusetts landlord-tenant law spawned many questions on the Massachusetts security deposit law.  So, I decided to go into more detail about the topic. Massachusetts Security Deposits–An Overview Last month’s rent and security deposits are one of the most heavily regulated aspects of Massachusetts landlord-tenant law [...]

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Massachusetts Property Values: An Appraiser’s Outlook And Predictions On Future Massachusetts Property Values

by Rich Vetstein 07.31.2009 Appraisals
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I’m pleased to have Donald J. Griffin, MAI, SRA, an experienced appraiser with Don Griffin Appraisals, Inc., who is here to guest blog about a topic very much on the mind of Massachusetts homeowners, buyers and sellers:  Massachusetts property values. What Happened?  The Last Three Years The Massachusetts real estate market was artificially stimulated by [...]

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Massachusetts Landlord Tenant Law: A Legal Refresher Course For Landlords

by Rich Vetstein 07.28.2009 Housing Discrimination
Massachusetts landlord tenant law

With the impending influx of renters and students invading the Greater Boston area soon, let’s review some often asked questions concerning Massachusetts landlord tenant law to assist landlords in navigating the rental process. Screening Prospective Tenants: What You Can and Cannot Ask? Landlords can legally ask about a tenant’s income, current employment, prior landlord references, [...]

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Richard Vetstein Guest Blogging on Boston.com’s Real Estate Blog

by Rich Vetstein 07.23.2009 Blogging
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Beginning with my introduction today by real estate broker extraordinare and Boston.com blogger, Rona Fischman, I will be guest blogging on Boston.com’s Real Estate Blog. I will be answering questions on timely topics affecting Massachusetts real estate law, including home improvement projects, condominiums, landlord-tenant issues, and more.  I am thrilled for the opportunity.  Stay tuned [...]

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The Catch-22 Impact Of New Fannie Mae (FNMA) Condominium Lending Regulations

by Rich Vetstein 07.01.2009 Condominium Law
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Recent Fannie Mae (FNMA) condominium lending regulations are beginning to live up to the hype as having an onerous impact on condominium sales and project development. The changes, made in January 2009, were part of an effort by mortgage giants Fannie Mae and Freddie Mac to limit risky lending in a segment of the housing [...]

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Massachusetts Foreclosures Down Almost 60%, A Good Sign or Statistical Aberration?

by Rich Vetstein 06.30.2009 Foreclosure
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The Boston Globe is reporting that foreclosures in Massachusetts took a steep dive in May, the second consecutive month they have fallen, according to data released yesterday by Boston real estate tracking firm Warren Group. According to the Globe, there were 582 foreclosure deeds recorded in May, a 58.6 percent decrease from 1,405 during the [...]

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