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North End Foreclosures

Are you interested in buying a foreclosure in Boston's North End? North End foreclosures present great opportunities for house hunters and investors alike. However, finding accurate information about such properties is often an uphill battle. Do yourself a favor and sign up for free access to Boston City Properties' real estate listings. Our database includes listings for foreclosures in the North End, allowing you to quickly identify viable options. Our experts are also available to answer questions, help you view properties and to provide additional assistance.

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How to Purchase a North End Foreclosure

Like many people, you may have never purchased a foreclosure before. Doing so can help you save a lot, but special considerations must be made. You'll get off to a great start by connecting with Boston City Properties.

Here are a few tips about buying foreclosures in the North End:

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Overview

Although this Boston neighborhood has a relatively small geographic footprint, it has a vibrant character that makes it a popular destination for visitors and residents alike. Continuously inhabited since the 1630s, most of the housing stock here is located in brick buildings or multi-story complexes, many of which are located along the waterfront. In the past several years, several luxury condominiums have been built near the docks, while other buildings have been adapted into residences. Home to numerous subway stops and the terminus of the Charlestown Bridge, the area is highly accessible and full of restaurants, stores, and local businesses. The average purchase price for a bank-owned residence ranges from $700 to $1,900 a month. The extreme desirability of this area makes short sales a less frequent occurrence.

Bank Owned Properties

The prevalence of mid rises and high rises in this section of the city means that one, two, and three bedroom luxury condos are frequently placed on the auction block. These residences typically have two things in common: stellar views of the surrounding city, and a host of amenities that is both state of the art and gorgeous to behold. Depending on the date of construction, the buildings may either take a traditional aesthetic approach, with a brick facade and arched windows, or they may take on a more modern style, with floor to ceiling glass windows. Generally speaking, complexes built after 2010 tend to be of the latter variety, and make the most of their incredible views by clustering the bathroom, bedroom, and other private areas at the center of the unit, with the remaining walls left as open as possible. These units often will have a fireplace that is located near the elevator core. In some cases, the fireplace is mounted to the ceiling so that residents can walk fully around it. This type of mounting also preserves the spectacular views of the rest of the unit.

Other residences are located in more traditional brick and masonry type buildings, which blend in with the historic buildings of the neighborhood. These residences often have relatively open floor plans, especially if they have been adapted from a previous commercial property. Some of the buildings do have residences that span multiple floors with specifically demarcated rooms. These residences are usually from 1920 or earlier, and often feature beautifully renovated bathrooms and front foyer spaces that have built-in racks for hanging coats and hats, as well as umbrella storage.

Short Sales

Private yards are something of a rarity in this area, primarily because the density of the area is so high. However, shared common areas, including community gardens, are more prevalent. The fact that the area has been continuously inhabited for nearly 400 years has created several small parks, auditoriums, and outdoor gathering places that add to the vibrancy of the street life while simultaneously imbuing some buildings with semi-public amenities. Many of the buildings in this area have ground floor retail or commercial space with the residences housed above; however, some buildings are purely residential, and allocate space for interior fitness centers or resident lounges on the ground floor.

Some short sales occur in buildings where units are grouped around a courtyard or atrium space. These units tend to have windows that look out both on the exterior street and the interior courtyard, providing a dose of both urbanity and nature. Elevator service is featured in many of the buildings here, although occasionally the older buildings are still walk-up only. However, central heat is usually provided along with energy efficient windows and fixtures, creating a relatively cost-effective living environment.

Proximity to the waterfront can often determine the difference between a relatively inexpensive short sale and a unit that is priced closer to market rates. Development of new buildings has been relatively static, which has correspondingly increased the value of existing residences. Many of these units have beautiful views of the harbor, and during the summer months can be placed on the market as short-term rentals to visitors. Typically, these residences have at least one shower and a galley kitchen, although the more spacious units will often feature a kitchen island with an operable sink and several small storage areas.

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