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2013: Low Inventory, Less Opportunity....But, Better Hard Money Terms
Greetings Massachusetts Investors: It has been awhile since I've had the opportunity to write a column for all of our hard money lenders, borrowers and investors here in Massachusetts. Things have been very busy here at MPL and I am sure the same can be said for all of you buying, rehabbing, building, flipping and selling real estate in MA & RI. The real estate market has been strong to very strong in most Massachusetts towns as a result of historically low inventory during the bulk of the 2013 buying season. I know, first hand, that single family homes in Marshfield were scarce and multiple offers were made on any property listed between $300,000-$500,000 with bidding wars resulting in some cases for the first time since the collapse
I understand the real estate market on the South Shore coastal towns of Massachusetts may not be representative of the real estate market of the entire Commonwealth but I do know that the market has changed and the same opportunities to buy properties at a fire sale price have become increasingly scarce. Regardless of the town, whether Worcester, Leverett, Chelsea, Plymouth, Kingston, Dighton, Mattapoisett, Lynn, Wareham, Hyannis, Fall River or Somerville, the fact ... more
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