Hard to say. Some banks are making loans, but they seem to be the smaller banks, like TD Banknorth, whereas Nantucket Bank, who is now owned by the Spanish monster Santander, is regretfully doing very little in the real estate market on Nantucket. I do know that you have to be a strong borrower to [...]
Nantucket’s total real estate value according to the Assessor’s office is $17,208,429,905. This number puts Nantucket at the 4th highest value in the Massachusetts behind Boston, Cambridge and Newton. Currently, Nantucket’s tax rate for residential property, $3.58/$1,000 of assessed value, for commercial property, $6.41/$1,000 of assessed value and for open space, $3.42/$1,000 of assessed value. [...]
Last week the Massachusetts’ highest court handed down a ruling confirming a lower court decision to basically rescind foreclosure sales because of technicalities in paperwork. During the boom years of the housing market, investors voracious appetites for mortgage backed securities could not be satisfied, so lenders were pooling together mortgages as quickly as possible and [...]
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