Should Worcester Ban Fossil Fuels in houses?
Friday, August 19
Great article from Henry Schwan in the T&G https://drive.google.com/file/... WorcesterMulti gets quoted so make sure you read through. We would love to get as much investment into Worcester and a BAN will limit that. Anytime you take options away from investors, some of them will do something...
Who can afford to live in Worcester? Can your tenants?
Friday, August 19
Great article in the T&G https://drive.google.com/file/...Some highlights Fair market rent for a 2 BR in Worcester is $1491/month so at 30% spent on rent you need to earn $29/hour or $60k a year to afford that. 37% of people in Worcester Rent Median hourly wage for renters is $17.17/hr so th...
Investors are buying up the Worcester Condo Market
Monday, August 08
Most of the market in Worcester is moderating but the condo market has a mind of its own. I have been working with Condo investors who were simply looking to park money and try to get some appreciation We offered full price with no inspections on 6 condos to get 1. There are very few condos in Wo...
FLOOD INSURANCE and FEMA
Monday, July 25
FEMA is rewriting the flood maps. They are trying to make them more accurate. This will translate into higher rates for a lot of people. For those getting a loan on their property, they will typically be required to maintain this insurance. For those without loans, they are able to go without, o...
Rent Prices in Worcester up 50% in the last year- Agents say
Monday, July 25
Very interesting article here about rents in Worcester. https://drive.google.com/file/... There are definitely people who have had their rents go up by 50% in Worcester in the last year. Say your rent was $1000 for a 3 BR unit with parking. The jump to $1500 doesn't even get you to market rent f...
People are backing out of House contracts!! Watch out
Monday, July 25
Interesting stats here from Redfin.I think Redfin and Zillow do a great job at statistics and with their websites, but I wouldn't recommend using their agents.60,000 home purchase deals fell through in June!!!!! that is almost 15% of all homes that were under contract.WOW WOW WOWIt appears that t...