Real Estate Ph: (617) 247-1933 806 Tremont Street, Boston MA 02118

Easton Foreclosures

Can You Really Save if You Buy a Foreclosed Property in Easton, MA?

Easton is a part of Massachusetts’ Bristol County and was initially a burial ground and a hunting place for the early settlers. Today, however, it is one of the most progressive towns in the Greater Boston area. It has a smaller state forest of its own, and the whole town includes the Borderland State Park, which is located in the northwestern part. It also has the Hockomock Swamp Wildlife Management Area and the Wheaton Farm Conservation Area.

Search Foreclosures

The town has waterways that are believed to be a section of the Taunton River Watershed, which is a part of the eastern area of the Narragansett Bay Watershed. It makes up the northeastern corner of the county in which it intersects with Norfolk and Plymouth counties.

Among the town’s points of interest are the Ames Free Library, the Oakes Ames Memorial Hall, the Ames Gate Lodge and the Old Colony Railroad Station. It is served by Routes 106, 138, and 123 and by I-495 and Route 24, which are major highways that run outside the border of the town.

If you are eyeing on some real estate properties in this place, you may find most of them around the Stonehill College, the town center, and the Morse Corner. There are also many homes around the Pratts Corner and the Eastondale neighborhoods.

According to the town’s records, there are almost 7,800 apartments or houses in this area with single-family detached properties as the most common type. The home value index here is $416,871, which has changed almost eight percent since last year. This value may also increase at least three percent more in the next months.

Short Sale Properties

The median list price in this town is $241 per square foot, which is much higher than the average of Providence Metro ($197). If this place is where you want to live or invest, you can look at other options in owning a home. The good news is you do not have to limit your choices to just the properties in the market. You can also take a look at the distressed homes in this area.

Foreclosed properties impact the prices of the homes for sale and their values in this town, just like in the rest of the country. Here, you will find at least four foreclosed homes for every 10,000. The number is lower than the value of Providence Metro, but it is higher than the US.

The first step toward the foreclosure procedure is mortgage delinquency. This town has about 1.5% homeowners in this state, which means that you may be able to locate several short sales in the area. Some of the places where you will most likely find these properties include Oldfield Drive, Black Brook Road, and Washington Street.

In fact, in Washington Street, there was a property on a short sale which has two bedrooms and two bathrooms. It measures a total of 1,116 square feet and only had an asking price of $226,900. Typically, this home would have sold for more than $400K.

Purchasing a short sale in this town can give buyers a good deal. The sellers of this type of property are in debt and need to pay off their loan. In this case, they are often motivated to look for a buyer as soon as possible. As a result, they list the real estate with a low price, so it does not stay too long on the market.

Bank-Owned Properties

Aside from short sales, there are also bank-owned properties. These homes are already foreclosed properties, which is why the bank or the lender has seized them. After mortgage delinquency, the homeowners have a hard time to pay off their debts.

The town still has stable market health with only 7.2 homes that have negative equity. This value is lower than the US average, which is 10.4%. Bank-owned properties offer an excellent way for those looking for a home that they can afford.

Often, banks would hold an auction to find a new owner for the property. You may have to contact the financial institution to see if you can buy the foreclosed home. Some houses may be listed in an ad, but they may not be described as a distressed property. Nevertheless, you can determine whether or not it is bank-owned when the rate is lower than the current market cost. If you see other similar properties in the same or nearby neighborhoods and they cost about 30% more, you are most probably looking at a foreclosed home.

Should You Buy a Foreclosure?

If you want to save money when buying a property, you may want to look into a foreclosed property. You can find homes that are short sold and those that are owned by the banks in Easton. Many mortgage lenders may also have these properties, and they want to get rid of them as fast as they can.

These homes can be profitable for the homebuyer and the investor who may be interested in purchasing them. With 4.1 homes per 10K in the area that are distressed, it may not be hard to look for these properties. You can also seek the help of real estate agents to help you find these houses in the town.

Search Foreclosures