Property Management Blog

2606, 2020

Worcester Rent Prices

By |June 26th, 2020|

Worcester Rent Prices Staying Steady The Worcester Business Journal is reporting that as of this month, "Rent prices in the city of Worcester remained relatively steady from the year prior, rising 1.2% while prices dropped 0.9% throughout Massachusetts." Despite this, Worcester still remains one of the more affordable large cities nationwide, with a median rent just above the national average. This holds true even when compared to just the state of Massachusetts, [...]

1706, 2020

Low Housing Stock Impacting Home Sale Prices

By |June 17th, 2020|

Buyers Compete For Thin Housing The Worcester Telegram is reporting that the COVID-19 pandemic has further exacerbated the limited supply of homes available to a Worcester County Market that was already in short supply given the high demand. The article points out that although "the pandemic did not create a thin market, it certainly made the thin market thinner." This is good news for sellers, because when the "housing stock is so [...]

1505, 2020

Mortgage Application Growth

By |May 15th, 2020|

Weekly mortgage applications show real recovery in homebuying, as interest rates set another record low CNBC is reporting that weekly mortgage application numbers are indicating real recovery in the home buying sector. The statistics show that "Mortgage applications to purchase a home rose for the third straight week, up 7% compared with a week earlier." Although this is still below the annual comparison overall, it is good news for the Worcester, MA [...]

2904, 2020

Temporary Virtual Notarization Introduced In MA

By |April 29th, 2020|

Governor Baker Signs New Coronavirus Notary Bill MASSLIVE is reporting that MA Governor Charlie Baker has signed a new bill allowing for remote notarization of documents "related to mortgages, wills, real estate title transfers, caregiver authorization affidavits and other legal matters." The public health emergency throughout the country has put stress on the real estate industry but this bill is certainly a step in the right direction, now allowing important transactions to [...]

2704, 2020

Worcester Real Estate Shows Strong March

By |April 27th, 2020|

Home & Condo Prices Show Large Growth March 2020 The Worcester Telegram released news last week that there was significant growth in both the single family home and condo sales prices in Worcester County last month. According to the report, "home prices in Worcester County last month climbed 11.5% and condominium prices soared 22.6% over March 2019". This resulted in a jump from $268,950 to $300,000 in single family homes and $208,000 [...]

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