Alluring Prices but Limited Options
The Springfield foreclosure listings and properties currently feature just 264 homes available at the median tempting price of $114,750. There are a much larger number of 632 other MLS and FSBO homes also figuring in Springfield’s real estate listings auctions in the imminent future. These bear the median asking price of a considerably higher $147,900. This illustrates that the foreclosed homes are being sold at rates that are at over 20 percent over the other houses determined by the prevailing market prices.
Springfield is a city located in, as well as the county seat of, Hampden County, in the US state of Massachusetts. The city is the fourth largest in the New England region, following Boston, Worcester and Providence. Two of its popular sobriquets are the “City of Firsts” and the “City of Homes”. Springfield is famous as the city in which James Naismith invented the game of basketball. The Springfield MSA {metropolitan statistical area} comprises the following three counties of Hampden, Franklin and Hampshire. In a cultural and economic collaboration with Hartford, Connecticut, the Springfield-Hartford territory forms the Knowledge Corridor of New England.
The sundry suburbs of Springfield include the cities and towns of Agawam, Chester, Belchertown, Chicopee, Brimfield, Chesterfield, Deerfield, Goshen, East Longmeadow,
Granby, Easthampton, Granville, Enfield, Greenfield, Hadley, Longmeadow, Hampden, Ludlow, Hatfield, Monson, Holyoke, Middlefield, Huntington, Montgomery, Russell, Northampton, Southwick, Palmer, Southampton, Plainfield, Somers, South Hadley, Suffield, Tolland, Ware, Wales, West Springfield, Westhampton, Westfield, Wilbraham, Windsor Locks, Williamsburg and Worthington.
Property Auctions: Knowledge & Ally
The Springfield real estate market is not immune to the working of the old adage “Knowledge is power”. By this pompous assertion, I mean simply that as a buyer, adequate knowledge about the home options at the local foreclosure auctions, the relative advantages and disadvantages of the different colonies, and the nitty-gritty of the several available mortgage schemes will stand you in good stead at the property auctions. Property investments invariably involve huge amounts of money and you cannot risk gambling. The millions of government foreclosures in the US in recent years stress the grave risk of venturing beyond your means. The print newspapers and magazines can be your first source of information on the housing sector. You should next tap the vast data resources that numerous real estate websites on the internet contain to your profit. Making a regular habit of keeping yourself abreast of property market trends will help you far more than you might normally conceive.
Springfield has scores of real estate agents who guide aspiring homebuyers in their investment choices. Kevin Jennings, Paul Oldenburg, Robert Knight and Maria Acuna have established themselves as prominent brokers in the city. Hiring a seasoned agent to represent your financial interests at the ongoing real estate listings auctions in Springfield can be your second best foot forward towards reaping a windfall from your real estate investment. You ought to conduct adequate investigation before you select your agent, as she can make or mar your fortunes.
