Boston Foreclosure Crisis Changes Housing Market
NECN published a story on Massachusetts Foreclosures recently. The video is embedded below.
If you’re selling or buying a home, chances are you’ve noticed a change. In Massachusetts, that change is big.
Esmerelda Thornton is a homeowner counselor at the Neighborworks center of Worcester. Her job is to help people facing foreclosure and first-time homeowners perhaps looking to buy those foreclosed homes.
According to the Warren Group in a report-released Wednesday, Massachusetts single-family home sale prices have fallen nearly 16 percent from this time last year. It’s no surprise for realtor George Russell.
He’s says the foreclosure crisis not only in Worcester – but across the country – has changed the market completely. Essentially foreclosure sales with low-ticket prices have set the standard for any home sales in region.
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