Worcester real estate listings auctions presently feature 382 foreclosure listings and properties. These properties have the median listed price of $173,000. There are many more – 1,444, to be precise — FSBO {for sale by owner} homes at the Worcester property auctions. These homes have the market-determined median asking price of $199,900. Hence, it is obvious that the seized homes are being offered for purchase at modest discounts over the prevailing market rates. Banks are the predominant auctioneer at the foreclosure auctions, with the rest of the home seizures having been variously made by the Sheriff, HUD, VA, Freddie Mac and Fannie Mae.
Worcester is the county seat of Worcester County in the US state of Massachusetts. Worcester is the second most populous city in New England, next only to Boston. The city forms the western limit of the Boston-Worcester-Manchester {MA-RI-NH} CSA {combined statistical area}. Worcester is called the ‘Heart of the Commonwealth’ as it is situated in Central Massachusetts.
Worcester’s diverse suburban cities and towns Douglas, Auburn, Blackstone, Millville, Winchendon, Douglas, Sturbridge, Northbridge, Fitchburg, Uxbridge, Sutton, Ashburnham, Paxton, Shrewsbury, Holden, Athol, Leicester, Hardwick, Milford, Hubbardston and Grafton. Besides, the umpteen villages located in proximity to Worcester include South Ashburnham, Stoneville, Morningdale, East Douglas, Farnumsville, Fisherville, Saundersville, Gilbertville, Old Furnace, Wheelwright, Jefferson, Spindleville, Pitcherville, Cherry Valley, Rochdale, Whalom, Chapinville, Whitinsville, Linwood, Cordaville, Fiskdale, Linwood, Wheelockville and Oakdale.
Natural Popularity of Foreclosure Auctions
Prospective homebuyers in Worcester are surging to the ongoing foreclosure auctions in huge numbers. What explains this popularity of seized homes as alluring buys? Several reasons exist, none of which is particularly hard to seek. When a homeowner continues to lapse in making the installment payments, the lending agency eventually seizes the properties. The banks, VA, HUD, Fannie Mae and Freddie Mac that foreclose homes are interested only in recovering the respective balance loan amounts due from the various seized properties. Hence, they list the foreclosed properties on this basis, which frequently translates into a fantastic discount for the buyers. Moreover, the auction process is uncomplicated and transparent. The properties have clear titles and are free from any lien. Finally, there is a plethora of mortgage companies offering easy home finance at falling interest rates. No wonder the aspiring buyers of properties are increasingly turning to the foreclosure auctions as their first choice in the hunt for their dream homes.
Real Estate Agents’ Important Role
The results of the property auctions in Worcester are in great measure determined by the city’s influential property brokers. William T. Lee, Gina Llerena, Roz Levine and Rosalind Levine rank among these leading players. However, there are scores of other agents too. The broker plays the key role of getting like-minded buyers and sellers of properties together, and facilitates the actual occurrence of transactions. An agent should ideally be equally well acquainted with the native terrain and with the larger housing developments and trends at the national level. A competent agent is the best guarantee that your hard-earned money won’t be put to risk and that you win the greatest possible return on your financial investment at the Worcester real estate listings auctions.
