Dartmouth Foreclosures

Dartmouth, MA Foreclosed Homes and Other Properties

Dartmouth is located in the Bristol County of Massachusetts. It is a coastal town that has been established for more than 350 years now. Its northern part has large commercial districts, and the area is surrounded by many waterways, including the Paskamansett River, Cornell Pond, and Single Island River.

Search Foreclosures

It has working farms and vineyards, which you can visit during the Coastal Wine Tour. Its southern part borders the Buzzards Bay where you can go fishing and boating. It can be accessed through the US Route 6 and I-195, while the Massachusetts Routes 24 and 140 provide access to the capital city. The town offers numerous activities, including going sailing and fishing at the Cuttyhunk Island or the Elizabeth Islands and hiking and biking at the Freetown Fall River State Forest that has at least 50 miles of land for the mentioned actions.

The town has several historic villages, and many of its real estate properties are in the coastal area. The estimated home value index in this area is $349,392, which has improved almost nine percent over the past year. The number is likely to increase by 3.8% before this year is over.

Currently, the market temperature of this town is considered warm, where it can work for both the sellers and the buyers. The median list price in this town is $230 for every square foot. This town is much higher in the average list price than the Providence Metro, which only has $197 per square foot. Meanwhile, the median price of the homes listed in this town is exactly $425K, while the average home price sold is $331,400.

The list price is not too high but is not too low either. For this reason, many buyers may look for other options to purchase their first ever home in the state. One way to save money is to search for foreclosures. This type of property can impact the home values in this town for the next several years. Currently, there are about 5.6 foreclosed properties for every 10,000 homes in the area. The number is higher than the Providence Metro, which only has 4.2 per 10K. All over the United States, the foreclosed properties are only 1.6 per 10K.

Short Sale Homes in This Town

Mortgage delinquency is a problem in many areas all over the country, including in this town. When the owner defaults on his or her payments, the home may be in a pre-foreclosure state. At the moment, about 1.5% of the households in this town are considered delinquent, which is lower than the national value 1.6%. Additionally, the percentage of homeowners who have a problem with their mortgage is just 5.6%, which is less than Providence Metro that has almost 10%.

If you are searching for a home in this town, particularly in neighborhoods like the Macomber Corner, Great Neck, Slocum Road, Faunce Corner Road, Smith Mills, and the Bliss Corner, it is often difficult to spot houses that are affordable. In this medium-sized town, you will see that the properties in the mentioned neighborhood may be much more expensive than the other parts of the area.

However, a home that is on a short sale procedure can help those who are willing to go through the process of buying this type of property. Note that when you purchase a home on a short sale, it means that you are willing to wait at least six months to finalize the whole transaction.

It is an excellent opportunity for potential homeowners, however, because it provides them a much lower rate than the current asking price of the similar properties in the same area. If you are willing to wait, you can benefit from a short sale in this town.

Are You Looking for Bank-Owned Properties in This Town?

On the other hand, if you think that waiting at least six months to more than a year is too long, you can simply choose a bank-owned property. The process is almost the same, although you will be dealing with a financial institution, such as a bank, rather than the owner of the home.

When the bank has reclaimed a particular property, it is willing to let it go immediately. In this case, you will see that you will significantly benefit from this type of transaction. For one, the asking price would be much lower than usual. Another is that the finalization of the buying process and the transfer of ownership are much faster than short sales.

Since the bank (or sometimes the lender) owns the property, it will mean that you will have to deal with the institution directly. You will not have to talk to the owner of the home. Dartmouth has quite a few homes that are owned by the bank, such as the one at Wilbur Avenue. In this area, you will mostly find a two bedroom and one bathroom unit with over 1,000 square feet of living space to have an asking price of at least $400K. However, this foreclosed property’s price was only $259K. As a result, the home immediately found its new owner after an auction.

The town is often considered a college town because it is where many students live while they attend nearby colleges and universities. The high percentage of students in the area gave way to the town offering some amenities, opportunities, and services geared toward this group of people. The real estate properties here, including the foreclosed ones, are a great chance for them to have their own place without paying for the high standard prices.

Search Foreclosures