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Swansea Foreclosures

Bank-Owned Properties

A foreclosure is always a reasonable Swansea option to consider when you're buying a home. With the average home value being $281,451, up 6.4 percent since the same time in 2017 and expected to rise another 3.7 percent over the next year, you could be getting an incredible deal by buying below market value. The situation is a winner for you regardless of how you intend to use, the property, as even market prices in this town are lower than the Boston and Providence averages.

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The delinquent mortgage rate here is low, at 1.6 percent. However, as either an investor or savvy buyer, you can take advantage of options that are available. After all, bank-owned properties that are not in heavy supply are not as likely to last long.

The sooner you act, the sooner you'll be able to take advantage of what could be a golden opportunity. In early 2018, there was an average of 25-30 foreclosed properties here at any given time. Although these selections give prospective buyers a reasonable selection, this area is a hot one for investors who want to fix up prospective vacation properties. Acting fast will ensure you have the best selection.

Short Sales

A short sale offers a good solution for buyers looking for lower prices, property owners in difficult financial circumstances, and lenders looking to reduce the time and expense of a foreclosure. Homeowners might ask their lender to accept less than what is currently owed on the mortgage to avoid having the property foreclosed, and this is where a lot of buyers looking for a good deal come into play.

The help of a professional who handles these sales is essential for good results. Accurate information is always key, and an agent representing your needs as a buyer will be able to help make sure you're getting only accurate info. You need to make sure your interests are as well-represented as the seller's.

Make sure you find out what you possibly can about the property before you initiate an offer, regardless. The seller will need to make sure that the lender has agreed to the short sale and the buyer will need pre-approval. Getting pre-approval signals that the buyer will be able to complete the purchase successfully.

Another possibility to consider is paying cash for the house or property, a solution that many investors already take advantage of fairly consistently. Even though cash does not necessarily speed up the amount of time the sale takes, it may help the seller agree to the sale a lot more easily. Having your agent handle the sale will help you overcome any difficulties that might arise a lot more easily.

Get in touch with one of our real estate experts today to get started with the process of buying a bank-owned or short sale property.

Geographic Information

Swansea is in the southeastern part of Massachusetts, in Bristol County. This town of almost 16,000 sits at the mouth of the Taunton River and is immediately west of Fall River. Barneyville, Hortonville, and Ocean Grove are villages within the confines of the town. Other distinct neighborhoods include Birch Swamp Corner and Luther Corner.

At 47 miles from Boston and 12 miles from Providence, the location is an ideal one for buyers who want a lot of conveniences. Nearby communities include:

Besides being situated at the mouth of the Taunton River, the town also sits on both Mount Hope and Narragansett Bay, providing a true coastal living experience. Other rivers include the Lees, Cole, Palmer, and Kickamuit. As part of the Narragansett Bay watershed area, there are abundant opportunities to enjoy the outdoors here.

Routes 118 and U.S. 6 offer easy access to the mall and surrounding retail district, and I-95 offers exits with convenient access to the more popular areas of town. Even with easy road access to most areas of town, there is still a very rural feel about the community.

The Southeastern Regional Transit Authority, or SRTA, offers local bus service and a stop in nearby Fall River provides access to regional bus lines.

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