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One Property. One Motivated Seller. Hi, I’m Mike Russo from The Local Block and I wanted to share what I learned this past Saturday at the open house for 548 Delano Rd in Marion, MA and what it means to the broader market and our little town. Property Overview📍 548 Delano Rd, Marion, MA Buyers are so desperate for an affordable home that they’ll go wherever they need to find one. Take 548 Delano Rd (link) as an example—during the open house, crowds lined up like something out of a Black Friday sale, eager to get inside this small 1,018 sq. ft. home. Meanwhile, a sump pump was actively pumping water out into the driveway through a black plastic pipe stretched across the walkway. Yet, this didn’t deter the stream of buyers searching for their next home. I spoke with buyers and agents at the open house to understand their situations. Many were renters from outside the area, desperate to secure any home to gain control over their living situation. This same house failed to sell at this price last year, but the spring market has clearly shifted. Looking at the work needed and the seller’s financial position, I told a friend who was considering it that I couldn’t, in good conscience, help them buy this house. The seller owes too much, and it needs too much. If you’re curious how I found the current debt, you can check it out on Propwire (link). I guess it’s no surprise, given my previous analysis, that this home is listed for less than half the average price of a single-family home in Marion. Though, I have to admit, I’m still surprised. Mike Russo Not subscribed yet? Don’t miss out on exclusive deal breakdowns—sign up now at TheLocalBlock.com! *This is not a solicitation to buy or sell and please make sure you do all of your own due diligence. If you are in need of a local agent please 'reply' and I can help you with a great one. |
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