With Housing Dip, Rentals Are The New Hot Properties Multifamily Housing Projects Draw More Investors
Young people are not entering the ownership class like they were in the past and older owners are selling in favor of renting, the study says. And though tenants income levels have not kept pace, demand for rental property has driven up rents. Ed Murphy, CEO of WeRentCentralMass, a Worcester-based listing and rental company, said he has certainly seen those trends here. Murphy said that a three-bedroom apartment in Worcester was renting for around $800 per month three years ago. That rent has now risen to around $1,100. CLICK TO READ FULL STORY
For more than 100 years, Widoff's Bakery on Water Street was the place to go to get your bulkies on Sunday morning. In the not-too-distant future, it could serve as a place to pick up your medical marijuana.
Last Thursday, July 16, Bay State Investment Funds LLC of Worcester purchased the building that held Widoff's Bakery on Water Street for $550,000.
Nine weRENTcentralmass agents volunteered at Worcester Boys & Girls Club Kid's Cafe tuesday night. Those who volunteered - Roger Thornburg, Jackie Painchaud, Sabrina Courville, Pamala Andrade, Jessica Leone, Ray Karkman, Sabrina Courville, Stephanie Cavalleri, Sean Libbey and Edward Murphy. Kid's Cafe of Worcester is a program designed to insure that children do not go hungry by providing nourishing evening meals to inner-city, at-risk children...
weRENTcentralmass donated $2,000 to You inc. Youth Opportunities Upheld, Inc. (Y.O.U., Inc.), is a leading child welfare and behavioral health organization located in Central Massachusetts. Y.O.U., Inc. provides a wide range of social, psychological, educational, vocational, and other preventive and rehabilitative programs for troubled and at-risk children, adolescents, and families... CLICK TO READ FULL STORY!
The yawning gap between commercial and residential tax rates in Worcester has long been a point of contention for the business community. Edward Murphy, CEO of the residential leasing company weRENTcentralmass.com, said he’s unhappy that the city would even discuss changing large buildings’ tax classification. He said some property investors from Greater Boston and MetroWest have just entered the Worcester market over the past year and a half, and..
“In general, the $1,600 to $3,000 [a month] rental in Worcester was pretty much nonexistent even a year or two years ago,” said Edward Murphy, CEO of WeRentCentralMass.com. “Now it’s a very active market in the city.” Murphy said many people who might otherwise be interested in buying a home have lost confidence in the real estate market and are waiting to see whether prices have hit bottom. And he said there’s a whole new market in...
High unemployment and the availability of foreclosed properties coming back on the market are helping to keep rents stable in Worcester County, according to rental property managers.
Edward Murphy, chief executive of the realty company, said that he hopes to work with LACCM to fight housing discrimination. "Our organization has not, does not and will not discriminate", Mr. Murphy said yesterday in a telephone interview.
In Worcester, this is a unique situation that probably only affects a few other cities across the nation. It wouldn't hold true in Boston, said CEO of Worcester Apartment Rental Agency, Ed Murphy. In Boston if you were going to purchase an equal property that you were renting, you would need $40,000 more to put down.
10 records found.