Buying foreclosed homes in Boston is the best way to invest in affordable properties in your area. Regardless of the type of property you are looking for, our Boston foreclosure listings will help both first time home buyers and real estate experts find the ideal property. Explore our database today and find amazing foreclosed properties for sale in Boston, MA.
ForeclosureDeals offers a solid database of Boston bank owned foreclosure homes and Boston government foreclosed homes for sale from federal agencies such as: HUD, VA, FHA, Freddie Mac, Fannie Mae, USDA. These Boston repossessed homes can be found in a number of ways, such as pre foreclosures, short sales, foreclosure auctions, flipping homes, bankruptcies and home foreclosures for sale in Boston, MA. Our up-to-date real estate foreclosure listings in Boston offers cheap distressed properties for buying & investing, in a great variety of properties like commercial & residential, multi & single family homes, lands, condos and apartment foreclosures in Boston area.
There is no doubt that Boston, MA is one of the busiest cities in the United States. Its streets are always bustling with professionals, students, techies and businessmen. Home to more than 20 universities and colleges including the famous MIT, Boston has always been known for its academic buzz. This is why the real estate industry of the city features a lot of high-end condos for sale-perfect for professionals who like investing in the finer things in life and want to enjoy the fruits of their success. If you are looking for something cheap, you might also want to look into foreclosures around the area. There are also single-family homes available for those who are looking to settle down. Take advantage of these opportunities and start searching for foreclosed homes for sale in Boston, MA now!
America's metropolitan areas have a wealth of opportunity for wise real estate investment due to their statuses as centers of employment, commerce, trade, entertainment, and tourism. One area in particular - Boston, Massachusetts - embodies this perfectly, as Boston is not only the capital of Massachusetts, but a bustling metropolis that is the unofficial capital of New England itself.
Boston is the 10th-largest metropolitan area in the U.S. It is recognized across the world as being an international center for education, medicine, research, finance, and biotechnology. Affectionately known as "Beantown", Boston also boasts one of the highest livability standards in the world, along with the third most-densely populated city in the U.S.
For these reasons and more, Boston is a prime destination for real estate investors looking for high-value property in an in-demand location.
The median home value for Boston typically hovers around $326,000, comparable to several other big cities of its size. The city's value per square foot metric equals $244, ranging from a high of $684 for the Back Bay neighborhood to a low of $111 per square foot in Roxbury.
Boston's foreclosure rate averages 3.8 foreclosure properties per 1,000 homes, well below the national average. The area with the lowest foreclosure rate is Back Bay, with 1.02; the area with the highest is Roxbury, with 30.91 homes per 1,000.
Boston contains many areas, neighborhoods, and suburbs that are prime locations for real estate investment, complete with high standards of living and other highly-desirable characteristics. These areas typically represent the best deals for the city, since demand is usually never an issue and high-value homes can almost always be found.
One important metric in Boston used by many investors is price stability. Some areas in Boston that have had relatively consistent markets include Beacon Hill, Brookline, Cambridge, Eastham, Lynnfield, Rowley, Wenham, and Winchester. Cambridge in particular is the home of Harvard University and the Massachusetts Institute of Technology, two of the best universities in the world.
Other areas are known primarily for their amenities - including shopping, entertainment, and dining. These areas include Back Bay, Downtown, Fenway, Marshfield, Melrose, and South End. Fenway features Fenway Park, the home of the Boston Red Sox; Back Bay and Downtown feature a treasure trove of restaurants, theatres, and shopping.
Massachusetts, like many states, is both a non-judicial and judicial foreclosure state, meaning lenders can choose to initiate foreclosure proceedings on homeowners without going through the courts. Homeowners have 90 days to address a default once a notice is sent to them by the lender. At the end of the period, the homeowner receives a certified letter from the lender that states the lender's intent to sell the home at a foreclosure auction. At the same time, the lender files a foreclosure suit against the homeowner in Massachusetts Land Court.
The Land Court is there to verify that the homeowner is not a member of the military and subject to pertinent laws preventing foreclosure for military members and assess the veracity of the suit's claims. It then delivers a judgment for the lender and allows the lender to send a Notice of Sale to the homeowner at least two weeks before the sale of the property.
The above process only takes place, though, if there is no Power of Sale clause in the deed of trust or mortgage. Most lenders prefer to have such a clause, which is why non-judicial foreclosure is the preferred method of foreclosure in the state. That timeline is similar to that of the judicial process but is almost always faster due to the lack of need to go through the courts.