Saugus Foreclosures

Bank Owned Properties

If you're searching for investment properties in towns within 10 miles of Boston, Saugus is an excellent option to consider. Home values here average $428,771. The average home prices have substantially risen by 9.7 percent from the previous year, and market predictions indicate they increase further by 4.7 percent within the coming year. The average price for each square foot for homes in the Boston suburb is $266, which is lower than the Boston Metro average of $276. The average price for the homes on the market as of early 2018 is $414,900, with the average price of homes that have recently sold is $403,500. Bank-owned homes will continue to have an impact on real estate sale for the next several years with 49.4 homes per 10,000 foreclosed.

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Short Sales

Short sales are distinctly different from bank-owned home sale and it's essential to understand the difference if you're interested in investment properties in this community. The first-time buyer is another excellent prospect for a short sale. If you're looking for an investment property to purchase below the current market value, Boston City Properties has a searchable database with current listings of available properties. We have the experience to guide you through the process of a short sale.

A homeowner doesn't always have to be delinquent on their mortgage payments to get approval from their lender for a short sale. If a home has been on the market for a few months but has gotten very little interest or if an offer has been made that's too low for the owner to accept, the lender may agree to a short sale. If a homeowner must sell their home because they're relocating, it could be a financial drain to be making payments on two properties. A lender will usually agree to a short sale if the property owner proves that a financial hardship exists that makes it impossible to continue to make mortgage payments. They must provide documentation proving the hardship. Most lenders are willing to accept the sale as a short-term loan payoff rather than have the borrower default on their loan. You can get some fantastic deals on homes that are available through short sales, especially if you're already been pre-approved or are in the position to pay cash for the property.

Geographic Location

Saugus is a small town of 1.8 miles, a short distance from Massachusetts Bay. The community is divided from the Atlantic Ocean by Revere's Point of Pines neighborhood. On the southern side of town is the Pines River, an estuary of the river names for the town, and Rumney Marsh. The reservations within the community are Breakheart Reservation, Lynn Woods Reservation, and Rumney Marsh Reservation. A portion of Walden Pond lies within the borders of the community, along with Hawkes and Birch Pond. Most of the population is within the center and east side of town. Other popular neighborhoods include Hammersmith Village, Golden Hills, Bristow, Blacksmith Village, Lynnhurst, and Cliftondale. The community is in the southern portion of the county, with Nahant to the south. Borders include Lynnfield to the north, Revere to the south, Lynn on the east, and Wakefield and Melrose on the western side. The town is 9 miles to the northeast of Boston, 8 miles from Salem, 24 miles from Cape Ann, and 20 miles from the border with New Hampshire. Route 1 is one the of main commuter highways to Boston. The Newburyport/Rockport line of the MBTA commuter rail line runs through town.

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