Rockland Foreclosures
Bank Owned Properties
The median value of homes in 02370 is $325,544. 02370 home values have increased 8.3 percent over the past year, and a further increase of 4.5 percent within the next year has been anticipated. The average square footage price in 02370 is $219. The average price of homes currently listed in 02370 is $299,500 while the price of homes sold averages $305,900. In the 02370 zip code, 14.1 homes per 10,000 fall into delinquency with the owners defaulting. The rate in this community is considerably higher than the national average of 1.6 per 10,000.
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Homeowners around the Bay State have struggled with delinquencies on their mortgages since 2007 when the value of homes fell by more than 20 percent. The Great Recession the following year affected millions of additional homeowners. The home values bottomed out in 2011, but now it's difficult for many homeowners who owe more on their mortgage loans than their homes are worth. There is a 6.8 percentage of delinquent mortgages in this town which is 2.2 percent higher than the average throughout the country. Savvy homebuyers and investors looking for excellent investments may want to look into buying bank-owned homes. You should always work with a real estate agent that has extensive experience with this type of home sale since it differs from a conventional sale. Boston City Properties has the expertise to assist you with finding the home that best suits your needs. You should have a budget before you start searching properties. You can purchase a home for below market value, but you'll have to consider additional expenses like insurance, taxes, and closing costs.
Short Sales
When the owner of a home is no longer able to make mortgage payments in a timely manner, they may still be living on the property but can negotiate a transaction known as a short sale. The lender will receive a lesser payment, but this is an alternative to the owner defaulting on the mortgage loan. In some cases, the lender may initiate a short sale when the value of the home is way below market price. When the agreement has been signed by all parties, the owner vacates the property.
Sometimes the owner of a property may choose a short sale over a conventional transaction if their home has been on the market for several months, any offers are below their asking price, and they're experiencing financial difficulties. If a short sale is an option you're considering when you're buying a home, find out how long it's been vacant. The longer a home is unoccupied, the more likely it is to have damage. A home inspection doesn't cost much, but it's something that's essential when you're buying a property. The inspection could prevent costly repairs down the road. If you have the available funds, a cash sale may speed up the process, and the sale could be completed faster.
Geographic Location
Rockland is a community in Plymouth County that's approximately 10.1 square miles. Much of the land mass in this community is land that's rocky, which is where the name came from. Several ponds and streams run through town, and a state forest is in proximity to the Naval Air Station. The town's borders are Hingham and Norwell to the northeast, Weymouth on the northwest, Hanover on the eastern side, Abington and Whitman to the west and southwest, and Hanson on the south side. Accord Pond is where the towns of Hingham and Norwell meet. The pond is a 100-acre reservoir that supplies water to Hingham and Hull. Accord Book is a branch if the Weir River. Studley's or Reeds Pond runs through the center of town with Gideon's Island at the southern end of the pond. Route 3 runs through the northeast section of town, and residents have access to the Route 3 - Kingston MBTA commuter line.
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