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Duxbury Foreclosures

Can You Save Money if You Buy Duxbury, MA Foreclosure?

Duxbury, which used to be called Duxborough, is a town in Plymouth County that has a rich history as a seaside area in Massachusetts. This suburb is about 35 miles SE of the city of Boston and is bordered by other towns, namely the Cape Cod Bay, Plymouth, Pembroke, and the Kingston Bay.

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The town is considered the sixth most prominent producer of cranberries in the state. Aside from the fruits, it also has shellfish like oysters. The area is surrounded by many bogs and ponds, as well as the Back River. There are also sanctuaries, forests, and a conservation area in the town, particularly at the western part. It offers many opportunities for various activities, including horseback riding, cycling, and hiking. Since there are quite a few recreational parks here, the area is ideal for pet owners who want to walk their dogs regularly.

Transportation is easy and convenient in this town. Buses pass through the Seaside Area Intertown Link (SAIL). The, they stop at the shopping district at the southern part of the town as well as in other places like Cox Corner and Millbrook. There is also one more bus line that passes through the area, which is the Greyhound Bus, which services the whole nation and even Canada.

On the other hand, commuters and car travelers can use Route 3, which is a freeway called the Pilgrims Highway. Routes 3A, 53, and 139 are also areas where people can pass through.

For those wondering about the activities and hotspots in this town, there are plenty here, including the Free Library and the Beach named after the area. You will also find the Alexander Standish House, Art Complex Museum, and more houses of many historical figures.

Foreclosure and Short Sales

The town has some expensive homes for sale. In fact, the value index of the properties here is $621,394, which has increased more than seven percent over the last year. It is possible that this number will increase even more in the coming months until next year.

The real estate market is considered cold to the sellers, which is why buyers should take this opportunity to find the home that they would like to purchase. However, it does not mean sellers should not put their properties on the market. With increasing prices, it is no wonder that potential homeowners are searching for ways to save on the property that they would like to buy.

The median list price in this town is $311 per square foot. This amount is much higher than the average of the Boston Metro, which is only $268. One option is to choose a foreclosed property, which is not so rare in this town. In fact, for every 10,000 homes in the area, there are about 5.2 foreclosures, which is a number higher than the US value (1.6).

The number of delinquent properties continues to rise over the past few years. Among the best neighborhoods where you should look for short sales are the town center, the west and the south, and Ashdod. Most of the properties in the area are single-family detached homes, which may be a great chance to save if you find this type of foreclosed house.

Homeowners who do not want to go through a foreclosure can choose to go on a short sale instead. When this happens, the amount of the property is less than the money the borrower owes from a lender.

Meanwhile, the buyer can benefit from a short sale because of the low price, which is typically less than the actual market value of the property.

Purchasing Bank-Owned Homes

Another option is to look for bank-owned properties. These are foreclosed homes are among the best chance to buy a home where you can live in or as an investment if you are a real estate investor. With such houses, you may be responsible for fixing some issues in the structure. It may come as a surprise, but the money you spend on repairs may still be worth it.

Often, you will find that the home value exceeds the cash you may have spent on rehabilitating the property. Additionally, if you need some help in paying for the home, you can look into the FHA 203(k), which will cover the repair and modernizing costs involved in the house or unit you intend to buy. This type of loan will also include some of the costs of the mortgage.

Even though there are quite many foreclosed homes in this town, the real estate market in Duxbury remains healthy. Once you have decided to purchase a property that is either on a short sale or is foreclosed, you will be glad to know that the market is flooded with such homes.

It is important to know that the competition is fierce, so these properties may suddenly disappear. Also, when it comes to bank-owned homes, you may have to join an auction where you need to beat other bidders who are also interested in purchasing.

If you are ready to buy a home in this town, it may be useful to work with a knowledgeable real estate agent. With the competitive market involving these distressed properties, it is essential to have someone experienced by your side.

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