Update (August 25, 2012): We just received pricing on the units from the bank. Request the prices below!
Within the next week or so, Charlesgate Realty will be bringing 2 two bed/two bath units in the Luxury Regatta Riverview building in Cambridge on market. These properties (Units #526 and #1201) will probably be priced +-10% below market value (the foreclosing bank is in the process of setting final prices now).
These luxury foreclosures in Cambridge will offer a unique opportunity for buyers to go in and leverage some sweat equity by doing some basic cosmetic repairs. These units probably could use new carpeting (or a change to hardwood), new paint, new appliances, and a good cleaning. By doing simple cosmetic repairs, a buyer will end up with a great home, under market value – a true “WIN” in today’s competitive market.
Since purchasing a bank owned REO is not nearly as complicated as trying to do a short sale (read our previous blog post about what you need to know to purchase a foreclosure), there’s a real opportunity for a quick purchase on a great investment. The buyer will get clean title, and should be able to close in +-45 days without issue.
These units are on the 5th and 12th floors and face Charlestown and North Point. The 12th floor unit has a balcony. Both units include 1 valet parking space, and all of the amenities that make Regatta Riverview a top notch luxury building. These include concierge, state of the art fitness center, and a lap pool. We anticipate pricing in the low-mid $400K’s for both units, with #1201 being slightly pricier.
Since they are generally listed below market value and the perceived value of a luxury foreclosure is very high, REO’s tend to bring on a flurry of activity, especially those in highly desirable neighborhoods, like Cambridge, and in “luxury” buildings, which are rarities. Please feel free to contact us today for a “sneak peek” before these units hit the market….
Use this form to let us know you want full property info and pricing details!
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for Pricing and a Sneak Peek at 2 luxury foreclosures in Cambridge
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