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

Rehoboth Foreclosures

Bank Owned Properties

Bank owned, and REO properties are among the real estate options available that investors are aware of. However, many first-time buyers or those delving into real estate investments as novices don't have all the information they need for lucrative property purchases. Our database at Boston City Properties features thousands of listings of bank-owned and short sale properties. We can put you in contact with professionals that understand the intricate details of these sales so you can make profitable investments.

Search Foreclosures

Even if the economy is in a slump, buying foreclosure homes, upgrading them and selling them is the way to see a substantial profit for those willing to research how these sales work. In many cases, it's possible to buy a home that's in prime condition for up to 50 or 60 percent below market value. Even if you buy a home that needs a considerable amount of renovating and remodeling, you can still make the most of your purchase. One thing to keep in mind, properties that are in delinquency are in high demand because savvy buyers know a great deal when they find it. When you find a home that has a lot of potential, you'll have to act quickly.

Between February 2017 and March 2018, the value of homes in the small, southern Massachusetts community has risen 6.3 percent. Market statistics indicate an increase of 3.3 percent during the coming year. Wise investors would do well to take advantage of the current prices. The average price per square foot in the Greater Providence region is $197, while in the rural town the price is $213. At least 4.8 percent of the homes in this town have negative equity, meaning that the market value of the property has fallen below the amount of the mortgage which is secured to the home. The median value of homes in this town is $393,620. The average price of homes on the market is $483,950 and the median price of homes that have sold within the last year is $422,400. The rate of homeowners that have defaulted on their mortgages is 4.1 per 10,000 homes. The rate of delinquencies is lower than the national average. Market conditions are the reason that short sales are attractive to many buyers.

Short Sales

Several circumstances could result in the short sale of a property. For example, a buyer and seller agree to the purchase price of a property as a conventional sale, then one of the following happens:

Situations like this could cause a sale to fall through, and any of these scenarios could spell disaster for both parties. However, there is an alternative solution. A short sale is a preferable alternative to the owner of the property defaulting on their mortgage. A short sale is one in which the property owner and the lender agree to a selling price which is below the property's current value. The bank or mortgage company sees a modest loss, but the borrower's credit rating doesn't suffer as drastically as it would if there was a default.

A short sale is an excellent opportunity for a first-time homebuyer. Many homes that are offered as short sales are in prime condition and require little or no renovations or upgrades. Not all homes that are offered for short sales are in default. Since the recession many homeowners are underwater, meaning that they owe more on their home than it's worth and are struggling to make their payments. The lender may insist on a short sales as an alternative to defaulting on the loan.

Before you start searching for property, get pre-approved for a loan. Whether you're a new investor or a buyer looking for a bargain, this should be the first step. Lenders want to identify qualified buyers, which saves both parties a lot of time. You should identify properties that you're likely to invest in, but this can take a lot of time as well. Our searchable database of homes makes it easier to find the right property. This type of transaction isn't like a conventional mortgage loan. It could take six months or longer to complete the transaction. Be sure to have the most recent information about the property before you begin the paperwork.

Geographic Location

Rehoboth in Bristol County is one of the oldest towns in the state. The suburban community established in 1643, is mostly rural. The town is home to approximately 11,610 residents. Originally, what is now East Providence, Rhode Island, and Seekonk, Massachusetts was part of the small community. The town covers approximately 46.8 square miles. The land is swampy with an abundance of hills. The many brooks and swamps feed into the Palmer River, which runs into Narragansett Bay. To the west of the town is Seekonk. Dighton and Taunton are east of the community. Attleboro and Norton's borders are to the north of town, and Swansea is to the south. Nearby neighborhoods include Anawan Rock, Four Corners, Kingman's Corner, Peck's Corner, and Perry's Corner. The town is located 11 miles from Providence, Rhode Island and 50 miles to the south of Boston.

Search Foreclosures