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If You Are Looking for a Deal in Central Massachusetts, You'd Better Act Quickly

If You Are Looking for a Deal in Central Massachusetts, You'd Better Act Quickly

foreclosures in massachusetts

Over the past couple of weeks, I've been out with a number of buyers who are looking for deals.  They want foreclosed properties, and they think they can get them for a great deal.  It is true that foreclosed homes are usually priced below market value and can represent wonderful real estate bargains.

But what these buyers are not factoring into the equation is the fact that they are not the only buyers out there looking for deals.  Along with first-time buyers who are extremely motivated, the buyers are facing competition from real estate investors.  Investors who have cash in hand.

Foreclosed properties often are in need of repair.  They have been sitting vacant for months and have had no one to maintain them.  Often, the previous owner (who lost the house to the bank) damaged the house.  Sometimes buyers who need to obtain a mortgage simply can not get financing for this type of home.

I've submitted four offers recently that were just a couple of days late.  Another party had already submitted an offer and the bank had accepted it.  My buyers had wanted to wait to see if the price would come down even more, and they lost out by playing the waiting game.

If you are looking for a deal, look hard and fast my friends.  The real estate deals are flying off the market here in Central Massachusetts.

 

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Text and photos copyright Kathryn J. Acciari unless otherwise noted. 
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Kathryn Acciari, RSPS, SRS, RESE, CFA

Century 21 MetroWest
45 Lyman Street  Suite 14
Westborough MA 01581

Serving the Route 9/20 Corridors of Central Massachusetts
Sturbridge to Westborough

Cell: (508) 982-0686   
Email:
kasellshomes@gmail.com

Web site: kathrynacciari.com
Blog:
Real Estate Blog
Twitter: @kacciari

Comment balloon 4 commentsKathryn Acciari • February 19 2010 07:52AM

Comments

I bet there are many great deals in your local area. Buy today

Posted by Harry F. D'Elia, Investor , Mentor, GRI, Radio, CIPS, REOs, ABR (Real Estate and Beyond, LLC) almost 9 years ago

I have seen it happen in our area as well. Good post.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) almost 9 years ago

Hi Kathryn ~ The Massachusetts real estate market has really picked up - great advice for home buyers - get out early to see the new homes on the market.

Liz

Posted by Elizabeth Bolton, Cambridge MA Realtor (RE/MAX Destiny Real Estate Cambridge, MA) almost 9 years ago

They sure are! It's tough looking in Sturbridge for a good deal that isn't already taken. 

Posted by Kathleen Cooper, Sposato Realty Group - Broker Owner (Kathleen Cooper, Sposato Realty Group) almost 9 years ago

Participate