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Our Danvers, MA real estate website provides a wealth of information for home buyers and home sellers. Below, you will find information on the history and culture of Danvers as well as links to more detailed information such as demographics and schools. You may view a virtual tour, search homes for sale, and access information on different types of properties such as condos, farms, foreclosures, and vacation homes. This website will give you everything you need to buy or sell a home in Danvers, MA.
Virtual Homes is a full-service residential real estate company dedicated to providing a wealth of real estate and local community information to home buyers and home sellers. Our agents are ready to assist you with all of your real estate needs.
Danvers MA Community Profile & History
Danvers, Massachusetts , in southern Essex County, is one of the oldest settlements in the North Shore region. Colonists had moved into the area, originally part of Salem, as early as 1630, and Danvers was incorporated as a separate town in 1757. Governor John Endicott was one of the town's first settlers and established Orchard Farm, a very large land holding for its day, with 300 to 400 acres. The community is historically noted for its association with the Salem Witch Trials of 1692. The house of Rebecca Nurse, a convicted "witch", was restored in the early 20th century and remains a popular tourist attraction today.
The town's location, proximity to Boston and easy access to roads north and south have transformed Danvers from a small colonial farming community to a thriving suburban municipality which is proud of its municipal services and school system. Though well within reach of New England's major urban centers, the town has carefully maintained a close-knit rural atmosphere, with acres of open space and a stunning array of antique homes. Popular attractions include the 165-acre Endicott Park, a diverse expanse of meadows, pastures, old farm buildings, woodlands and marsh that offers opportunities for hiking, fishing, cycling, and nature watching; Glen Magna Farms, a historic country estate with an assortment of lush gardens and statues; and the scenic waterfront, with a yacht club, town boat landing, one public and four private marinas.
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Different financing alternatives are available depending on whether you are purchasing a single family, condo, multi-family, or investment property. Understanding the pros and cons of each may help you decide which option is the best for you. Speak to our buyer agent professionals and mortgage partners to understand and evaluate your options.
Danvers, MA Real Estate Market Statistics
The following information was extracted from the state-wide MLS system and its accuracy is not guranteed.
Danvers Single Family Home Sales Trends:
| Year Days on Market #Sold Average Price Lowest Price Median Price Highest Price |
2006 126 166 $466868 $235000 $413500 $877695 |
2007 133 178 $429610 $158000 $395000 $930000 |
2008 139 158 $391307 $169900 $359000 $944500 |
2009 117 147 $356438 $135000 $334000 $735000 |
2010 105 186 $353544 $130000 $331000 $840000 |
Average Selling Price of Single Family Homes in Danvers
| 2006 |  $466868 | |
| 2007 | $429610 | |
| 2008 | $391307 | |
| 2009 | $356438 | |
| 2010 | $353544 |
Danvers Condominum Sales Trends:
| Year Days on Market #Sold Average Price Lowest Price Median Price Highest Price |
2006 137 104 $285503 $103000 $297500 $699000 |
2007 148 60 $258339 $95000 $276500 $393000 |
2008 147 74 $262449 $98000 $259250 $750000 |
2009 181 61 $254085 $42500 $245000 $560000 |
2010 96 65 $226578 $81000 $242300 $449350 |
Average Selling Price of Condominiums in Danvers
| 2006 | $285503 | |
| 2007 | $258339 | |
| 2008 | $262449 | |
| 2009 | $254085 | |
| 2010 | $226578 |
Danvers MA Blog Postings
Danvers MA Short Sales - Pre-foreclosure Values
As a home buyer looking for value in the purchase of real estate a short sale may be your best option. Buying a Danvers Massachusetts short sale is a difficult and often a frustrating process. To achieve your goal, hire experienced professionals that understand all aspects of the transaction. Expert advice can be provided by real estate agents, attorneys, mortgage brokers, bankers and home inspectors. Visit Danvers MA real estate for tools and resources to evaluate the community.
What is a Short Sale?
Homeowners in financial distress should consider various options, including a short sale, prior to foreclosure. This process may be the best option to preserve their credit and limit their debt exposure. In MA, the laws governing foreclosures provide incentives for lenders to work with homeowners that have financial hardships. The foreclosure process takes time and money and may prove to be more costly to the lender. In April of 2010, the government enacted legislation under the HAFA (Home Affordable Alternatives Program)which provided homeowners and lenders with a streamlined process and incentives to negotiate short sales.
The first step in the process is to negotiate a contract with the homeowner that must be approved by the lender. If the contract is not acceptable to the lender then the Seller may not have sufficient time to sell to another party and avoid foreclosure. The following tips will increase your chances of negotiating a successful Danvers MA short sale.
Are You a Qualified Buyer?
Providing creditable evidence that you can purchase the property is absolutely necessary. The Seller is not likely to accept your offer without a valid credit approval as the lender will not grant approval. Obtain a credit approval from a reputable lender or if a cash buyer provide proof of funds. The approval must not contain conditions such as selling an existing property as this is an issue for the lender. If you are a strong motivated buyer with flexibility in your closing date, you will have greater success in negotiating Danvers short sales.
Indentifying Potential Danvers Listings
Sellers selling short typically have a time-line they must meet to avoid foreclosure. If they have not connected with their lender(s) and started the process, it may not be possible to close before foreclosure. Your real estate agent can identify properties that you may consider. To preview properties currently available go to Danvers MA homes for sale. Additional information our agents will obtain includes:
Is the seller's short sale package prepared for submission to the lender? How many liens are on the property? If more than one, what are they? Is there a plan to obtain releases from all the lien-holders?
Don't take yourself out of the market for a property that has no chance of closing. Consider all properties for sale including Danvers MA short sales and foreclosures.
Offer and Acceptance by the Seller
The first step is to negotiate a contract with the Seller and you will be competing against other contracts. Some real estate agents market the property substantially below market value to entice buyers. Others price the property at the bottom of fair market value. The terms and conditions of your offer can be as important as the offered price. Sellers and lenders prefer offers with fewer contingencies.
Your Deposit - Sellers will not be likely to accept your offer with a low deposit. A buyer that has little to lose can easily pursue another property and "walk away". To demonstrate good faith offer the Seller a strong deposit.
Home Inspection - be prepared to invest the time and money in the home inspection prior to lender approval. A seller can't take the risk of conducting the inspection after lender approval. The buyer can easily "walk" from the home inspection and lenders normally will not approve them.
Flexible Closing Date - once the lender approves the offer, they may require a "quick" closing. You must be prepared to comply if you want to consummate the sale.
Subsequent Offers -As a rule, real estate agents must present all offers. A contract with a higher sales price may have a better chance of being approved by the lender. The lender will give the homeowner direction as to submitting additional offers. Also, be prepared to lock your interest rate thru closing so that your mortgage commitment will be valid.
Lender Approval
Lenders will do their "due diligence" to substantiate the value of the property and have no set formula to determine an acceptable price. However, Freddie Mac (one of the largest secondary market lenders) has a target sales price of 88% of one or more broker price opinions (BOP). Have realistic expectations of the approval process as it may take between 30-180 days and market conditions can change. If the lender and the Seller are participating in the HAFA program, these timelines will be streamlined for a quicker response. In fact, the Lender may have approved a listing price for the property.
Virtual Homes Real Estate agents can assist you with Danvers Massachusetts short sales, foreclosures and MLS listings currently on the market.