This week (ending Jan 22nd) the average 30-year fixed-rate mortgage dropped to 4.99% from last week when it was at 5.06%.  30-year fixed-rate mortgages at the same time last year were 5.12%.  This is great news for potential home buyers as this 3 week in a row drop is great when paired with the Tax Credit for new home buyers that is being offered until April of 2010.

Today Barney Frank said he looks to abolish Fannie Mae and Freddie Mac saying, “The remedy here is, as I think the committee will be recommending, abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing finance,” said Frank, chairman of the House Financial Services Committee. “That’s the approach, rather than the piecemeal one.”

Frank, along with the rest of The Financial Services Committee, is just starting its work on the issue and plans to move slowly. The committee’s first step is to talk to groups like the Center for American Progress and the National Association of Realtors, both who have prepared documents with reccomendations for the overhaul.

David Min, an associate director for the Center for American Progress, said that whatever new structure the mortgage lenders would take, any entities receiving government backing would need to be more heavily regulated to limit risk, with greater product restrictions on mortgage-backed securities and higher capital than what Fannie and Freddie had. The Center argues that reforms should apply to both public and private markets.

You can read more on Boston.com:  Barney Frank to Abolish Fannie Mae and Freddie Mac

As we mentioned before, it is never too early to start looking for your next apartment. The sooner you start looking, the better the chances you are going to find that perfect place for you to call home for at least the next year. Take a look at the following places and give Proper Realty Group a call today to schedule a showing!

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S&I To Go is easily one of the Proper staff’s favorite places for lunch.  Even though “To Go” is in the title, often times we prefer to eat in the quaint restaurant on Brighton Avenue.

The Lunch Special is really what has us hooked.  You can choose a soup, appetizer and entree for only $6.50.  You will not be able to find a better deal on authentic Thai food (See menu link below for more details, I personally enjoy the Wonton Soup, Chicken Wing, Drunken Fried Rice combination).

Best of Boston

Best of Boston had this to say about S&I:

Notwithstanding the beef tendon fire pot at Montien (still the hottest soup around, in both senses of the word), this unassuming Allston 12-seater is your first-class ticket to Bangkok. The Thai-language menu is filled with enough mild-mannered fare to sate even the most uninitiated of palates, while devotees can delight in rare finds like crispy double-fried catfish laced with whole sprigs of fresh peppercorns and volcanic som tums flavored with raw salted crab.

Although lunch is where S&I To Go really shines, it is truly a great value at any time.  The convenient location and delivery availability only make dining in or out an even easier decision.

To learn more about S&I To Go as well as to keep up with ongoing promotions make sure and visit the S&I Facebook page and the S&I Twitter.

Take look at the menu for S&I To Go and follow the map for quality, affordable and authentic Thai food!

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Living in Kenmore Square is one of the most convenient-to-everything places to live in Boston.  You’re close to campus if you’re a student, a short ride to downtown, and near the Mass Ave Bridge to Cambridge.  There is no shortage of bars, restaurants, and things to do in and around Kenmore Square.  Make sure to run by these spots if you’re new to the area.

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Usually when we do a spotlight on a Boston business it is a favorite place to eat, or maybe a local shop with interesting finds or great deals.  This time around it’s something different.  Better Off Bowling is a social bowling league with leagues in Boston, NYC, DC, and Philadelphia.  I really should let them do the explaining.

The Better Off Bowling Social Bowling League is a casual/non-competitive bowling league that helps bring together young professionals to bowl, socialize, and meet new people during the cold dark winter months.  The league is composed principally of individuals 21 to early 30’s and tends to be more about hanging out with everyone at the after-bowling bar afterwards than trying to bowl that perfect game.

The league exists in New York, Philadelphia, DC, and Boston.  The Boston league bowls at Lucky Strike Lanes in Kenmore and is composed of over 80 teams with nearly 700 members (6-10 members per team).  Bowling is only $58 total for 6 weeks of bowling (1.5 hrs every Sunday), which includes free shoe rentals, a mid-season bar crawl, and End-of-Season party with dancing and free kegs of beer!   That’s cheaper than bowling as an individual!

The next session registration will open ~Jan 26, and bowling starts Feb 21st.  To get more info and receive registration updates, join the Boston facebook group – Boston Social Bowling League.

Oh, and don’t worry, almost everyone is not much of a bowler.

What keeps so many people coming back to Better Off Bowling is the social aspect.  The bowling probably doesn’t hurt, but it is a great time and a great way to meet new people.

Students (well not JUST students), you’re about 7 and a half months away from your next move.  Although that may seem like a long time, apartments in and around Boston are already renting!  September first is approaching and it will be here before you know it.  Proper Realty Group would like to take a few minutes to offer a few helpful tips to help with this process (Don’t worry, we’ll refresh your memory closer to the actual move).

Start your search EARLY!

Do not think for  a second it’s too early.  The most desirable apartments are the first to go, and they go immediately.  If you have an eye on a location or even a particular building CALL US TODAY!  We will have  all of the proper updates and your next move will be into a place you love, not whatever was left over.

Prepare EARLY!

Is your lease ending before the next one starts?  Do you have a place to put all of your stuff.  It’s very likely all of the storage units that are convenient will be full and will fill up quick.  If you know when you’re moving in and out make sure you reserve your storage unit as soon as possible!

Allston – www.yellowbrickselfstorage.com

Brighton – www.extraspace.com

Boston – www.doorstepstorage.com

Boston College – www.BrightonSelfStorage.com

Northeastern – www.bostonselfstorage.com

How are you planning to move?

The great majority of people in Boston do not have cars, let alone a truck big enough to move your bed, dresser, giant TV, etc.  To an even greater degree moving trucks and movers fill up FAST.

www.gopenske.com

www.uhaul.com

www.budget.com

Call Cable and or Internet Provider

It can be relatively annoying, but call your cable/internet service provider and ask about specials for current and old customers.  Often times it is much more advantageous to consumers to disconnect and reconnect (very easy with roommates) as a “new customer”,  or let a competitor know you are thinking of changing and see what offers are available then.

Retail Me Not

Retailmenot.com is probably one of the best websites when it comes to most everything.  I personally saved about $200 on a budget rental truck when first moving to Boston.  It’s full of coupons and deals for stores with an online presence.  This is anything from Budget Rentals to PapaJohns.com.  Great deals to be had!

What to do now?

If you’re interested in starting your search send us an E-mail!  info@properrealtygroup.com

Any questions, comments, concerns let us know, we’re here to help!

With home sales slowing down and with internet sales rising, it only makes sense to combine the two. Countdowntobuy.com has created and innovative way to hopefully move foreclosed homes.

The idea is relatively simply. To give the banks a fair shake the price is set just above the assessed value for 10 days, and then drops a percentage point everyday for the next 30 days.

Example:

A foreclosed home worth $500,000 goes on Countdowntobuy.com for $550,000 and it sits for 10 days. On the 11th day the price will drop 1 percentage point (of the $500,000 Estimated Market Value) to $500,000, then to $450,000, $400,000 and so on until either the 30 days expires, or a bid is higher than the days value.

Users will bid what they believe the home is worth. You can see how many bids there are, as well as a great deal of information regarding the property, but not the value of the bids.

Confused much?  Don’t worry, I was at first as well.  To us, this seems very much like Ebay, for foreclosures, just backwards.  I know that likely does not help with your