In fact, I live around the corner from one, a foreclosure that got snapped up at an auction for just over $100,000 in January and then hit the market again last month, this time at just under $300,000. To be fair, there was a flurry of activity, with contractors coming and going back over the winter, so improvements surely have been made.
Still, this ad says it all.
WOW not many opportunities to own in Natick for less than $300K! This beautiful updated home features remodeled foyer with tile floor and a new closet. Walk right into the brand new kitchen with granite counters, suite of SS appliances, ceramic floors, tiled backsplash, under cabinet lighting …
Given the lovely backdrop of worn out and overpriced properties across the Boston area, is it any wonder that homes that are in good shape and are reasonably priced can spark bidding wars?
Zombie homes are easy to poke fun at, yet it can be hard to see the humor when a collection of misfit properties and castoffs is all you have to choose from.
After all, if you are a middle class buyer in your thirties, just getting into the market for the first time, you may be very well stuck trying to figure out which one of these lemons could be made into lemonade.
I know, having been there myself.