Canton Foreclosures

Canton, MA Foreclosed Homes Information

Despite being one of the older towns in Massachusetts, Canton is an excellent place for young professionals who are searching for a home. Even real estate investors should take a look at this area, especially if foreclosures are among their specialties.

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The town is located in the Norfolk County and lies right at the foot of the Great Blue Hill. There is a river here with the same name as the town, and it flows through the town center. It links various small lakes, including Forge and Bolivar Ponds, which both flow to the Neponset River.

The town has an ideal location, especially as it is surrounded by other places, such as Norwood, Dedham, and Westwood. It also borders various municipalities, including Randolph, Sharon, Milton, and Hyde Park, which is a neighborhood in Boston.

This place mostly consists of a wooded land, but there are also wetlands, especially along the eastern part where Route 138 is accessible. Meanwhile, the western part of the town allows access to several other places in the state through the I-95.

The Viaduct in this area is one of the top attractions here, which is famous because it is one of the two oldest railroad bridges that feature multiple arch stones and remain active in the US. Other points of interest include the 300-year-old David Tilden House at the Historic District of the town and the Massachusetts Audubon Society’s Visual Arts Center that contains the Mildred Morse Allen Wildlife Sanctuary.

Short Sales in This Town

If you are searching for a very affordable home in this town, one of the options is to find a property that an owner is short selling. With this type of home, you can save a lot of money because it typically asks for a much lower price than usual.

Short sales are all around the town, and it may be easy to find an owner who owes money to a lender or a bank that goes over the market value of the property. Be aware though that a short sale may take a lot of time for the purchase to complete. Often, it requires more than six months for the sale process to complete. However, if you are not in a hurry to reside in the property, a short sale in this town may be an excellent option for you.

One of the reasons why you would want to look into the properties that are on short sale in this town is because the prices of homes here are a little high. Currently, single-family homes increased an average of almost $20K, and the amount per square foot is $278 from $261 last year.

Neighborhoods, including Turnpike Street, New Boston Drive, Summer Heights, and the Town Center are among the most expensive places to look for a home. However, there are also properties that are on a short sale, which can provide you with significant savings.

An example of a short sale property is at 51 Will Drive, which is a condo with one bed and one bath. It consists of 687 square feet of living space. Typically, this unit would have an asking price of more than $300K, but because the owner put it on a short sale, it was sold for only $160K.

Properties that are Owned by the Bank

Meanwhile, properties owned by the bank are all over this town, which is something that many investors would be glad to know about. Auctions are typically held to find a new owner of the delinquent property.

For instance, this home in the same neighborhood as above, specifically at 37 Will Drive, has two beds and one bath. It measures 907 square feet, and the property was built back in 1971. It was listed for $113,565 at first, but the bank was not successful in selling the property. It was later sold to its new owner for only $69K, which is undoubtedly one of the best deals that a new homeowner can grab.

You may also be interested to know about the single-family home in 859 Pleasant Street, which an expansive property that was foreclosed in the area. It has three beds and 2.5 baths with a total size of 1,648 square feet of living space. It was auctioned early this year, and a buyer seized the deal, which was only around $200K.

The properties in the area have an average listing price of over $657,800, and the median sale price is $473,750. The average price per square foot in most of the neighborhoods in this town is $277 per square foot. Compared to other places, especially those near the city of Boston, the average prices are a little bit expensive. For this reason, bank owned and short sale properties are an excellent way to save on purchasing a home in Canton.

Remember that although the foreclosed homes have attractive prices, some of them can cost extra money, mainly because you may have to fix it up. When purchasing a property, you may have to go to the owner who is in foreclosure or you can go to an auction. You may want to act fast when you see these estates because they typically do not last long.

Foreclosures in this town have an average value of $323,750, and the properties have a year-over-year change of +28.57.

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