January 26, 2010 Mara Bushari

globegiftastic__1264157009_8358All you Boston real estate buyers looking for bank owned properties may want to start getting serious. The Massachusetts foreclosure rate is falling dramatically, more than 25 percent from 2008 to 2009 according to Warren Group, a company that tracks Massachusetts and Boston real estate.

The main reason for this drop may be the increase in banks renegotiating loans, as well as a foreclosure freeze last spring. The foreclosure crisis that traumatized the nation is far from over. In fact, nearly 28,000 state homeowners were slammed with foreclosure petitions last year, a 28.1 percent increase from the year before, Warren Group said. We are also seeing an increase in luxury foreclosures and short-sales, a market segment that was practically untouched by the Boston real estate downturn until recently. Bank owned properties are popping up from Back Bay to Weston, something almost unheard  of.

Call Bushari Group today for more information about Boston real estate, Boston condos and Boston lofts.

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Mara Bushari

Mara is a creative thinker and strategic marketer. She graduated Summa Cum Laude from Boston University’s College of Communication and worked in international finance before joining The Bushari Team. Mara strives to exceed expectations. As Client Relations Specialist, she is a key facilitator in all team transactions, making the buying or selling process as stress-free as possible for the client. Mara learned many of her extraordinary organizational and problem-solving skills during her service in the Israeli Defense Forces, where she earned the “President’s Award” for exceptional service. In the military, Mara solidified her abilities to achieve top results in high pressure and time sensitive situations. In her spare time, Mara enjoys skiing, photography and writing.

Comments (3)

  1. Yes, the Boston market is going through another change, and it’s also very important to understand how the foreclosure process works from the bank’s perspective. Always make sure to know the various bank policies before making any decisions.

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