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Framingham Multi-Family Homes

Framingham, located in Middlesex County, is part of the Metrowest area of metropolitan Boston. It is actually 20 miles west of Boston. The city is family-friendly with multiple athletic fields, parks, beaches, cultural art centers, and a skating arena. The city includes these neighborhoods that are among the most expensive and popular neighborhoods in the city with the highest appreciation rates.

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The city has 27,688 housing units, which are 51.5-percent owner-occupied with a median home value of $424,797. Since 2000, the appreciation rate has been 53.02-percent averaging 2.39-percent per year. Most of the homes in this city were built between 1940 and 1969 with 20.6-percent built before 1939, 45.7-percent built between 1940 and 1969, 30.5-percent built between 1970 and 1999, and 3.2-percent built since 2000. The housing units are 50.3-percent single family housing, 4.6-percent townhomes, 14.0-percent small apartment buildings, 30.7-percent apartment complexes, 0.2-percent mobile homes, and 0.1-percent other housing. The median rent is $1,743 per month. This city differs from other cities in the state because it has a large number of renters and apartments. Many of these renters qualify for affordable housing assistance.

The population in the city is 71,594 with 86.25-percent of the residents employed in white-collar jobs and 48.23-percent of the residents having earned a bachelor's degree or higher. The city has more residents employed in mathematics and computers than 95-percent of the communities nationwide. The average daily commute to work is 28.8 minutes with many of the residents using the Amtrak or MBTA rail system and a variety of bus systems. According to the 2010 census, the per capita income was $36,834 and the median household income was $70,706.

With this city having a large number of multi-family housing units available but with some potential restrictions due to affordable housing rules and regulations, hiring a real estate agent to guide you as you select investment property is a good idea. Local real estate agents know the area, the zoning and other restrictions, the current market, and potential changes in the market. They can compare the properties in this city with properties in other cities to see where you can get the highest return on your investment and have the best occupancy rate. They can provide information on any possible development in the area and other information that is not always public knowledge. Then, when you have selected the property you want to buy, they can help you make an offer and negotiate with the seller so that you do not pay too much. Hiring a real estate agent to make sure that you buy a property that provides you with the best return on your investment and to make sure you comply with any restrictions will ensure the success of your investment.

If you are selling investment property, a knowledgeable and experienced real estate agent can help you arrange the sale to keep you in compliance with any restrictions. They will work with you to get you the best possible price with the fastest possible sale. An agent will help you set a price that will attract potential buyers and leave you room to negotiate. They will create a marketing plan for your property and scrutinize both offers and potential buyers to make sure there will be no delay or default of the closing, delaying a quick sale and possibly costing you a potential buyer. This city has a lot of rental property and your property could be competing on the market with several other properties, a knowledgeable and experienced real estate agent can help get your property sold quickly at a good price.

For help in this unique market, contact us to buy or list a multi-family property in Framingham.

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