News and local information about Framingham, MA (USA)
FRAMINGHAM, MA — The cost of everything from home heating fuel, to gasoline, food and other commodity items have been on the rise. Several economic indicators have hit records in the past year or two — and for those who have been on the fence in regards to buying a home in the past year, the bad news in that the 30-Year Fixed Rate mortgage increased more than 46% in the past year.
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FRAMINGHAM, MA – Due to economic conditions, more owners of residential real estate than usual are facing foreclosure.
While some properties sold at Public Auction can be purchased below market value, buyers should be aware that many times such properties have been neglected, and in some cases have been damaged or had items such as plumbing fixtures, copper heating pipes and other items removed.
In general, property purchased at foreclosure auctions should be examined even more closely than property sold on the normal residential real estate market.
In addition to structural or cosmetic problems, (more…)
FRAMINGHAM, MA – A total of 43 residential properties were sold in the town of Framingham, MA during the month of March, (2011).
Twenty eight single family homes, ten condos, four multi-family homes and half acre lot on Kendall Street rounded out the residential real estate sales in town for the month.
The single family homes were on the market for an average of 86 days, and sold for an average of just over $300k, slightly below the average list price for the same properties which was $311k.
Condo sales were brisk. Units which did sell had only been on the market for an average of 25 to 26 days. Still, buyers were able to purchase the condos for slightly less than asking price, (in most cases). Average condo prices were in the mid-$90k range, with units selling from $40k to just under $250k. The Town’s long standing moratoriums on large-scale apartment complex construction appears to keep demand high for the limited number of existing condominiums in Framingham.
Four 2-family homes located in Downtown Framingham, (40-44 Alexander St., 61 Lawrence St., 231 Irving St. and 8 Wellington Ave) sold during the month of March. The multi-family homes which were on the market for an average of five months, (157 days), sold at an average of $176k, slightly less than the average asking price of $187k.
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