Anyone who has tried to buy a home in Worcester knows how hard it can be to get an offer to stick. With multiple bids coming in on individual properties some buyers may feel like that there are forces working against them to keep them out of the housing market. One such force may have recently been identified.
Migration from the state’s more populated metropolitan areas has caused many high income individuals to seek housing in less congested areas. As a result, places like Worcester have seen an influx of former Boston residents moving into their borders and investing in the residential properties available for sale.
While growth is good for the Worcester economy it can be tough for people who just want to lay down roots in their home communities. Residents may be getting frustrated when they feel that they are close to making residential real estate purchases only to have sellers back out for different options.
One way to entice sellers to pick a particular buyer is to include attractive terms in the real estate agreement. There are many ways that buyers can offer sellers assistance through contractual terms and legal professionals in the real estate field can help buyers incorporate those terms into their agreements.
As Worcester grows in popularity and more people move into its community, the housing crunch may only get worse for those people hoping to buy residential properties. Despite the potential problems of the community’s growth, individuals who are struggling to make their home buying dreams into reality have options for getting sellers to accept their contractual offers.
Source: Worcester.com, “Housing Prices Driver Westward Migration from Boston to Worcester,” Zeke Wright, Feb. 7, 2014