Sellers Must Compete with Bank Owned Properties in Today’s East Boston Market

The current East Boston real estate market has been hard hit with the presence of many bank owned properties, which increase every week.  A seller now has to price his or her property competitively with these lender owned properties in order to secure a buyer.

Thankfully, there still seems to be a steady group of buyers interested in purchasing homes in East Boston, mostly because of our prime location adjacent to downtown and easy access to the city via our five subway stations.  That, coupled with our relatively safe streets and relatively inexpensive real estate, makes East Boston popular among homebuyers.

In order to sell a house in today’s competitive market, however, a seller must be aware of what other properties are listed and selling for, many properties being bank owned.  A “regular” seller can also do other things to make a property more attractive than a bank owned property.

Sellers should clean out their houses, yards, and basements.  Any major repairs should be done such as replacing old furnaces, converting fuse boxes to circuit breakers, pointing chimneys or foundations, sprucing up entry and rear staircases, or replacing an old roof.  Sellers will find that spending up to $10,000 in repairs and necessary improvements will help sell their homes more quickly in today’s tough market.

Please check back as we continue to update you on East Boston real estate happenings. To see all our listings, or to search MLS properties, head to the Tony’s Realty Website.

Email Tony with your questions or comments.

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