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THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS
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County close-up: Hampden Spotlight: Agawam
IN PERSON
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A 20-year employee at Boston-based Icon Architecture, Kendra Halliwell is working with Berkeley Investments on a signature project in Sullivan Square, redevelopment of the Graphic Arts Finishers’ property into 171 apartments.
WEEK OF MONDAY, NOVEMBER 19, 2018
RESIDENTIAL REAL ESTATE BY THE NUMBERS
I N S TA N T P AY M E N T
$675,000 The most expensive single-family home sold in Hampden County in the past three months was 0 Sumner Ave. for $675,000. See By the Numbers on page 6 for the rest of the top three lenders. Source: The Warren Group’s Statistics Module
The number of single-family homes put under agreement in the month of October rose 9 percent over the last year, while condominium pending sales were down 5 percent over last year. See Week on the Web on page 2 for more. Source: Massachusetts Association of Realtors
Worcester Of the five cities that had the most foreclosures in the crisis years, only Worcester has not surpassed its previous record median sale price. See the editorial on page 4 for more. Source: The Warren Group’s Statistics Module
5.25 percent Westfield Bank had 5.25 percent of the market for single-family refinance and purchase loans through September of this year. See By the Numbers on page 6 for the rest of the top three lenders. Source: The Warren Group’s Mortgage Market Share Module
NEW ENGLAND STAKEHOLDERS
Weigh in on Real-Time Payments Proposal While Generally Supportive, Community Bankers Still See Challenges BY BRAM BERKOWITZ BANKER & TRADESMAN STAFF
$56 million The combined value of the five sales in this week’s Gossip Report tops $56 million, including the Cambridge estate in the top spot, which sold for $15.1 million on Halloween. See page 8 for more. Source: The Warren Group’s Statistics Module
5 Five Gateway Cities took the brunt of the foreclosure crisis in Massachusetts. See the editorial on page 4 for more. Source: The Warren Group’s Statistics Module
#3 Mary T. Quesenel of Mortgage Network Inc. came in third for the top loan originators in Hampden County this week. See By the Numbers on page 6 for the second and first place LOs. Source: The Warren Group’s Loan Originator Module
Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.
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ontrary to advancements the U.S. has made in technology, the country lags behind many of its peers when it comes to payments – online and debit transactions can still take hours, if not days, before the funds are actually transferred or deposited into an account. But this could soon change. Payments officials from the Federal Reserve Board of Governors recently visited Boston to hear public comments from New England stakeholders on potential actions the Fed could take to fa-
cilitate real-time interbank settlement of faster payments. The stop was part of a series of town halls the Fed is holding in each one of its 12 districts to determine the best course of action moving forward. The Fed is specifically considering the development of a 24-7-365, real-time gross settlement system to support faster payments, and a liquidity management tool to help banks support their funding needs outside standard business hours. “We have a gap,” Susan Foley, senior associate director at the Federal Reserve Board of Governors, said during the town hall event. “If I send money to someone, they have access to the funds before banks have completed the transaction or have the cash. … We have a long way to go still.”
“If I send money to someone, they have access to the funds before banks have completed the transaction or have the cash. We have a long way to go still.” – Susan Foley, senior associate director, Federal Reserve Board of Governors
Continued on Page 8
COMMERCIAL INTERESTS
POTENT POSSIBILITIES
Suffolk Downs Expansion Would Cost Time, Money and Political Goodwill
Institutional Investors Want a Piece of Life Science
Amazon Wisely Skips Boston for HQ2 By Scott Van Voorhis | Banker & Tradesman Columnist
Commercial Real Estate PAGE 3
Are Lab Conversions the Suburbs’ New Savior? By Steve Adams | Banker & Tradesman Staff
Commercial Real Estate PAGE 7
Photo courtesy of the Federal Reserve Bank of Boston
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