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Newton Foreclosures

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How to Buy Foreclosures in Newton

Special considerations must be made when buying foreclosures in Newton, MA. Oftentimes, these properties have sat vacant for some time. Repairs and other work are usually needed. These costs must be kept in mind to ensure you are really getting a great deal.

A few more tips for buying Newton foreclosures include:

Finding foreclosures in Newton, MA, doesn't have to be frustrating. Chances are that there are plenty of great opportunities in this neighborhood right this instant. Check them out now by signing up with Boston City Properties. You'll gain free access to our huge database of Boston real estate listings, which will help you find foreclosed properties quickly. To be connected with foreclosure experts in the area, contact us now.

Overview

Located only seven miles from downtown Boston, this city has an enviable mixture of urban delights and peaceful residential streets. It is also a place full of beautiful green spaces; the Charles River forms the southwest boundary of the city, while several public parks and ponds are scattered throughout the town. Several different neighborhoods are located within the city, including Auburndale, West Newton, Newton Corner, Oak Hills, and Newton Upper Falls. The average purchase price for a bank owned property in this area ranges from $400 to $500 per square foot. Many of the homes that come to market via a bank sale or short sale were built prior to 1996, although several have been built within the last five years.

Bank Owned Properties

Because of the relative urban density of this area, the properties that come up for auction are often located in tree-lined neighborhoods within walking distance of schools and small neighborhood markets or other local businesses. These homes take on a variety of different architectural styles, from Tudor to Victorian to ranch style to the classic clapboard or modern brick exteriors. Depending on their architectural style, most of the houses in this area have two or more floors, with some homes having either basement or attic spaces. The likelihood that the basement and the attic will be finished is high, although occasionally these spaces are left in a more raw state.

Although it is common to find the main staircase placed along one wall, some homes position the staircase in the center of the home and use the space underneath for storage or creative shelving. Some staircases are designed to create spaces perfect for seasonal display; a Christmas tree, for example, or an end table decorated with various one-off pieces, may fit perfectly within the spaces formed by the stairs and the landing. In other cases, a bookcase may be built in to the space created by the gap between the staircase and the floor. However the staircase is designed, it generally features wood banisters and carpeted treads.

Many of these single family homes are located on large lots with private backyards. The backyards may feature a seasonal garden or a small outbuilding, such as a gazebo, or a pathway of hand-laid flagstones or brick. Older trees are common in this area, as are large bushes or hedges that require regular trimming. Some houses have a pool or sauna in the backyard, but almost all of them have some form of an exterior deck or balcony.

Short Sales

Homes of four or even five thousand square feet make up a large amount of the residences in this city, which makes the interiors both sumptuous and inventive in terms of their floorplans. The kitchens in these homes often feature cathedral ceilings with both recessed lighting and custom designed lighting fixtures that provide a panoply of illumination options. The materials used in the kitchen can vary widely from special tile or slate on the floor to stone columns and freshly plastered walls. Dark wood accents and elaborate tile backsplashes are frequent sights in the kitchens of this city, as well as sinks with deep basins and adjustable faucets with attachments.

Depending on the year of construction, there may be wood paneling on the walls. These panels, which usually are in homes built before 1930, are often varnished and restored before the sale, and can feature beautiful detailing along the upper edges. Baseboard heaters and central ventilation are usually installed regardless of the year of construction, and large windows surround the house on all sides. Newer additions to a home can often come in the form of so-called mud rooms, or partially enclosed decks or balconies that are accessed via sliding glass doors. Sometimes, green houses are constructed in this way, allowing for the year-long growth of private gardens.

These houses also tend to feature a great room, which may or may not boast a prominent central lighting fixture such as a chandelier. The great room may also be home to a fireplace. Again, depending on the year of construction, this fireplace may be able to accept logs fed by hand, as opposed to being operated only by a switch that turns on a supply of gas. The bedrooms in these homes tend to be large enough to accommodate not only a bed, but additional furniture such as a desk or couch. Some investors, after purchasing such a home, may take the step of dividing these large bedrooms into two individual rooms. This also applies to the bathrooms, which in the older homes tend to be exceedingly large, with elaborate tile flooring and marble showers. The exceptional size of the bathrooms makes them excellent places to have both a full shower and bathtub in the same room. The attic spaces in these homes are often large enough to qualify as floors in their own right. Depending on how the house has been renovated, the attic may feature skylights, recessed lighting, and gorgeous hardwood floors.

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