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Off-Market Marketplace DiMeco said investors and other buyers are also becoming more interested in “off-market” properties that aren’t listed for sale on the local Multiple Listing Service but may be available to purchase at the right price. “What’s been hot is some of the off- market stuff. Guys who are going under the table,” he said explaining that he has owners of tenant-occupied investment
Meanwhile DiMeco said he has noticed an uptick in interest in foreclosures from buyers on RealtyTrac.com, where he is listed as a local foreclosure specialist in Boston. “Last year we just had low inventory. It became very competitive. Whatever it was listed for, it sold 1 or 2 percent over that,” he said. “Investors might have gotten fed up with that and were looking at the REO market, which is why they were reaching out to me.” Although Boston-area foreclosure activity increased 19 percent in 2016 compared to 2015, the 12,043 properties with foreclosure filings in the metro area were still about one-third of the peak of 35,955 in 2008, according to the ATTOM Data Solutions 2016 U.S. Foreclosure Market Report.
properties who approach him to shop around interested in those properties with other investors without having to list the properties and disrupt the tenants by doing so. “They don’t want to have it come up there (on the MLS) and possibly disrupt the tenant. And they want serious buyers. … There is quite a bit of the pie that does get moved around, legitimately, but just off-market.”
What’s been hot is some of the off- market stuff. … There is quite a bit of the pie that does get moved around, legitimately, but just off-market.”
Leland DiMeco Owner and principal broker, Boston Green Realty
U.S. Foreclosure Starts & Completions Foreclosure Starts
Foreclosure Completions (REO)
$250,000
$200,000
$150,000
$100,000
$50,000
0
ATTOM Data Solutions • P2
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