Metrowest Foreclosure Updates
July 7th, 2010 Categories: Ashland, Framingham, Holliston, Hopkinton, Local Communities, Market Conditions, Natick, Real Estate, Southborough
Today I received a news release from RealtyTrac, which is the leading online source for foreclosure properties. The report made me question how the specific Metrowest Massachusetts marketplace is doing in regards to foreclosures. This post will report on the following questions you may have:
- Are there a bunch of foreclosures driving down home values in our area?
- How much of a discount can I get if I buy one of these foreclosure properties?
- Is the market getting worse or better out there?
Foreclosures in Massachusetts
RealtyTrac reports that Massachusetts is one of the top 5 states in % of foreclosure sales for the 1st quarter of 2010. (June 30th – Not really sure why it took so long to issue these stats??) As alarming as this sounds, let’s look a bit closer…
Number of foreclosure sales were 2,111 in quarter 1, which is 42% of all sales! Sounds bad, right?
How does this compare to other states they reported on? It works out to .9% of Total foreclosures in the United States.
Still digging a bit deeper, I checked MLS data for number of sales in MA for the 1st quarter. MLS reports 6628 total single family home sales, which works out to 32% of all single family home sales are foreclosure sales. Since they report 2,111 were ALL sales, let’s add condos and multifamilies to that number… now it is over 11,000 sales, or about 19% of all sales.
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Metrowest Election Results for Senate
January 20th, 2010 Categories: Ashland, Bellingham, Framingham, Grafton, Holliston, Hopkinton, Local Communities, Marlborough, Medway, Milford, Natick, Southborough, Town Hall Info, Westborough
The election results are IN for Senator in Washington. The Metrowest region had a great turnout and for that we can all be proud that democracy is working!
Below are results from each Metrowest MA town and the vote counts for either Scott Brown (R) or Martha Coakley (D):
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Foreclosure Real Estate Secrets
February 3rd, 2008 Categories: Ashland, Framingham, Grafton, Holliston, Hopkinton, Market Conditions, Marlborough, Milford, Natick, Real Estate, Southborough, Westborough
First time buyers of real estate are salivating at the idea that the Buyer’s Market in Massachusetts is offering “steals” in every neighborhood. They hear of foreclosures, auctions, and people unloading property at every turn.
This is not only a falsehood, but when buyers learn of the process, they usually run for the hills.
Let me explain how foreclosures work…
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4 Crucial Reasons to Buy In this Perfect Market
November 27th, 2007 Categories: Ashland, Framingham, Grafton, Holliston, Hopkinton, Market Conditions, Marlborough, Milford, Natick, Real Estate, Southborough, Westborough
You have been hearing all sorts of bad news in every newspaper article for the past 2 years. These are the 4 reasons why this is THE perfect time to be a Buyer. You should not delay, even if it means dealing with getting less for your current home!
As a full time Realtor in the Metrowest area for the past 10 years, I have seen mostly “good times”.
But were they?
My buyer clients were buying with multiple offers in the first few days a home was listed. Interest rates were good, but prices were climbing at double digit rates.
Ok, they were good times for Sellers.
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