Midtown Foreclosures

Foreclosures in Midtown Boston present exciting opportunities for investors and home buyers. However, finding accurate information about foreclosed properties in this part of the city is often easier said than done. Cut right to the chase by connecting with Boston City Properties. We'll give you free access to our huge database of Boston real estate listings, which includes listings for Midtown foreclosures and much more. We'll also connect you with real estate experts who can provide great insights into buying foreclosed properties.

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How to Buy Foreclosures in Midtown Boston

If you've never purchased a foreclosure before, you are in for a few surprises. Such properties can save you a lot of money, but the process of buying them can be tricky. Whether you're looking for Midtown foreclosures, short sales, bank-owned properties or other options, do yourself a favor and team up with Boston City Properties.

A few more points to keep in mind when buying Midtown foreclosures include:

• Budget for Repairs - Odds are that your Midtown foreclosure will need at least a little work. Make sure you're really getting a good deal by estimating how much it will cost to make the property move-in ready.
• Pay for an Inspection - Inspections should be performed when buying any type of real estate, but they're even more important when purchasing foreclosures. These sales are usually as is, so you won't have any options if something turns up after closing.
• Pay with Cash if You Can - Save even more by paying cash for a Midtown foreclosure. If you can't swing that, get pre-approved by your lender. This will show the bank or whoever owns the property that you are serious.

Check Out Midtown Foreclosure Listings Today

Kick your search for Midtown foreclosures into overdrive by signing up to view real estate listings by Boston City Properties. From this page, you can start checking out foreclosed properties in Midtown right away. When the time comes, we can also connect you with foreclosure experts in Midtown who can assist you further with the process. Don't wait another minute--contact Boston City Properties now.

Overview

Composed of the Government Center, the Financial District, and Downtown Crossing, this area of Boston has some of the most desirable real estate in the city. Because of its high urban density and propensity for high-rises, single family homes are virtually non-existent in this part of town, although numerous luxury condominium developments have either been freshly constructed or carved out of older industrial or office buildings. For this reason, bank owned sales are more common than short sales, although the latter does occur occasionally. The average purchase price for a bank owned property in this region is $800 per square foot, with a number of properties selling in the range of $1,600 a square foot; short sales have a similar range, but can dip as low as $400 per square foot.

Bank Owned Properties

With freshly plastered walls, varnished hardwood floors and state of the art appliances, the bank owned properties in this region are typically well-appointed with enviable addresses. A number of units are located in older brick buildings built between 1880 and 1920. Typically, these buildings do not exceed six stories in height, although some have more modern additions that add penthouses or additional floors. Usually, the ground floor of these buildings is given over to retail or commercial use, and the top floors have been converted into apartments or condos. These types of buildings offer the beauty of vintage architecture combined with the latest in fixtures, finishes, and appliances. The spaces are traditionally rectilinear, and occupy one floor per unit, although in some cases the spaces have been adapted to range over two or more floors. This configuration is typical in penthouse units, which generally have at least two floors, with the top floor given over either to a rooftop garden or other exterior viewing space.

The high ceilings of the original building are usually repurposed creatively, with either a small loft space or a number of artfully designed cabinets occupying the additional square footage. In some cases, modern additions add skylights or partially enclosed balconies that allow enormous amounts of natural light to flood the interiors. One end of the unit is traditionally occupied by large windows, while the other features opaque walls. Oftentimes, the original brick will be left partially exposed to give a sense of the history of the unit. In some rare cases, the unit will extend from one side of the building to the other, providing windows at both ends and around the sides. These spacious units provide beautiful views of the city and a sense of sprawling luxury.

Short Sales

A number of new developments deviate from the traditional rectilinear floor plan, employing instead a series of more inventive floor plates that allow for customized layouts and as many windows as possible. Some of the units are located within high rise towers, and have floor to ceiling windows on all sides. The bathrooms usually have tinted glass in their interiors, but still provide some kind of view of the surrounding city. These units traditionally place the elevator core in the center of the structure. In some units, a direct elevator that opens out into the condo is provided. This elevator usually is accessible only via a key or code, and is guarded by a member of the building’s staff at the lobby level.

The living areas in these units typically feature large, light-filled open plan spaces. High ceilings are a common feature, with light wells and a number of custom designed light fixtures sprinkled throughout the abode. A slim vertical space for a washer and dryer unit is usually provided in these units; separate laundry rooms are uncommon. Sometimes, an additional bedroom will be converted into a study, library, or personal exercise space, depending on the particular desires of the previous owner. Most of the bathrooms feature a shower, and in some cases, additional bathrooms may feature a stand-alone tub or sauna unit. The breakdown between the availability of one bedroom units versus two and three bedroom units is roughly the same; many multi-bedroom properties, especially those with penthouses or other exceptional features, frequently come to market. These high-rise buildings often offer their tenants a series of shared amenities, such as an exercise center or a private reading room or lounge. In some cases, building residents may receive special discounts from the stores that are housed on the ground floor.

Regardless of the specific building amenities, the housing stock in this area is close to a variety of restaurants, boutique shops, major retailers, public attractions, and other businesses. Easily accessible public transit in the form of subway stops makes it easy for anyone to access other parts of the city, including Logan International Airport. Access to the MBTA Commuter Rail line is also with easy walking distance.

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