Boston suburb Medford may attract new buyers down the line
The city of Boston has several neighborhoods and surrounding suburban communities that are experiencing a major face lift in housing and industrial innovation. The Seaport District has been approved to break ground on new apartment complexes that may bring in prospective homebuyers, and expansions in entertainment opportunities in the area may increase values for MLS Listings in Boston, MA.
However, Medford may also be a worthwhile neighborhood for prospective homebuyers looking for affordable housing options. In March 2012, the town experienced an uptick in foreclosure, bringing the total for the month to 15 - an increase from 7 a year earlier, according to The Boston Globe. Approximately 13 of those properties were auctioned off, pointing toward an increase in demand for housing in the area.
Homebuyers may be able to find housing in Medford that fits within their budgets. While foreclosures tend to bring values down in a community, Medford is nearly 6 miles from downtown Boston and 5.2 miles from Cambridge, making its location convenient for commuters and first-time buyers. People who want to invest in property near a major city may be able to purchase homes through short-sales in Medford and various towns surrounding Boston.