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Worcester County's market withers - Few Bay State towns illu

 
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Joined: 14 Jul 2007
Posts: 0
Location: Greater Boston

PostPosted: Sun Nov 18, 2007 6:32 pm GMT    Post subject: Worcester County's market withers - Few Bay State towns illu Reply with quote

Use this forum thread to discuss the following link.

Description: Worcester County's market withers - Few Bay State towns illustrate the housing bubble's bursting as vividly as Southborough and its neighbors
URL: http://www.boston.com/realestate/news/articles/2007/11/18/worcester_countys_mark ...truncated...
Info/Broken?: http://www.bostonbubble.com/link_info.php?id=1272

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Shoeshine



Joined: 10 Nov 2007
Posts: 38
Location: Greater Lowell MA

PostPosted: Sun Nov 18, 2007 7:58 pm GMT    Post subject: Reply with quote

At the recent Home Auction at the Boston Hynes Convention Center
run by the Real Estate Disposition Corporation, (REDC) Nov 10th and 11th,
The properties in Worcester County were being sold for 50 to 70 cents
on the dollar.
Single family homes selling for $ 100-150K routinely, sometimes less.
Multi family investment units selling for $40-80K a unit .

The price of Gasoline, and Oil will have a heavy impact
on the price of homes in outlying areas.

It is getting harder and harder to give away a home
in communities like Brockton , New Bedford , Fall River,
Worcester, Springfield , Lowell , Lawrence .

Soon Lynn and Chelsea will join this illustrious list !. Razz

Lynn and Chelsea should be the first two Greater Boston Communities
to Capitulate , followed by Revere and possibly Everett .

Curious to see if anyone disagrees on my assessment of
Lynn, Chelsea , Revere , and Everett or if any Greater Boston
communities are in worse shape ? Question
.

.
.
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