For those who qualify, a mortgage modification is the ideal remedy to their financial distress. I've prepared a FREE report on the truth about mortgage modifications to guide you through this important process. Simply visit www.LuxuryDistressedPropertyExpert.com to get this valuable information, and feel free to pass it along to anyone who may need it.
One homeowner lost to foreclosure is one too many!
Below is your monthly Luxury Foreclosure Trends Report: November 2009. It is spot on accurate and provides a strategic edge by helping you understand how to get in front of the National, Maryland, Montgomery County and 20854 zip code competition.
Market Price for This Zip Code Has: Decreased By 4.51% in the past 60-days
There is an over supply of active listings.
Number of active listings: 225
Number of units that are Short Sale Listed in MRIS: 4
Number of units that are REO or Corporate owned Listed in MRIS: 2
Market Activity
Range of values is $379,000 to $9,900,000
Normal marketing time is: 96 Days.
Resale Comments: My independent MRIS research shows that there are currently 225 homes on the market in the 20854 zip code. Most of these homes are overpriced or are in less than ideal condition that do not attract buyers and just sit on the market. The average day's on the market for these active properties is 180. There currently are 76 properties under-contract. These buyers have found and are expecting and getting a great value-a good home at a good price and with all the competition for their attention, they have a lot of choices. These buyers are really picky. There were 65 properties that sold in the last 60-days. The average day's on the market was 98. Buyers have a sense of what's fair market value and what's not and they just won't show up if sellers are not in the ballpark. There is currently 5 months of inventory on the market in 20854 zip code. It's very important that sellers price their home correctly and competitively. Buyers are looking for value pricing and if sellers don't meet these expectations, they'll be overpriced and overlooked.
Market Price for This Property Type Has: Decreased By 5.36% in the past 30-days
Estimated Percentages of Owner vs. Tenants in These Neighborhood: 50% Owner Occupant 50% Tenants
There is an over supply of active listings.
Number of units that are Short Sale Stage Listed in MRIS: 511
Number of units that are REO or Corporate owned: 439
Market Activity
Range of values is $5,000 to $512,900
Normal marketing time is: 96 Days.
Resale Comments: My independent MRIS research shows that there are currently 439 REO homes on the market in Baltimore City. Most of these homes are overpriced or are in less than ideal condition that do not attract buyers and just sit on the market. The average day's on the market for these active properties is 93. There are currently 315 REO properties under-contract. These buyers have found and are expecting and getting a great value-a good home at a good price and with all the competition for their attention, they have a lot of choices. These buyers are really picky. There were 206 REO properties that sold in the last 60-days. The average day's on the market was 90. Buyers have a sense of what's fair market value and what's not and they just won't show up if sellers are not in the ballpark. There is currently 4.13 months of REO inventory on the market in Baltimore City. It's very important that sellers price their home correctly and competitively. Buyers are looking for value pricing and if sellers don't meet these expectations, they'll be overpriced and overlooked.
Top-10 Reasons Why We Love Your Short Sale Referrals!
We are 100% compliant with the Protection of Homeowners in Foreclosure Act (PHIFA).
We know which properties will qualify for a short sale and which ones won't.
We have the resources to continually and rapidly respond to constantly evolving legislation and regulatory guidelines.
We know how to create an effective short sale strategy.
We have prior experience and specialize in working with homeowners and lending institutions to create a successful short sale transaction.
We know how to market properties since efficient timing is essential.
We meet all document compliance and processing requirements surrounding the HAMP and H4H programs and comply with Feddie Mac, Fannie Mae, Treasury and Department of Housing and Urban Development guidelines.
We have automated the resource-intensive, document generation, and administrative functions typical to creating a successful short sale settlement.
We specialize in regulatory compliance to ensure that all documentation is consistant, accurate, and compliant through stringent quality assurance processes.
We provide weekly status grams & online transaction management systems.
Now may be the time to buy Luxury Real Estate.......
A million dollars doesn't buy you what it once did. In most U.S. neighborhoods, it now gets you a lot more. For people who do have the money, however, it's the best time in years to buy luxury real estate.
The right information leads to the best solutions. As a Certified Distressed Property Expert, I've been trained to inform and assist homeowners with financial troubles. If you or someone you know is struggling, I can provide real solutions, not myths. So, I've prepared a free report debunking the seven most common short sale myths, just for you at:
Luxury Foreclosure Trends Report: Baltimore City, MD 21224
Date 10/15/09
Market Area: Baltimore City, MD 21224
Time Frame: 4/15/09 - 10/15/09
General Market Conditions:
Current Market Condition: Slow.
Employment Conditions:Declining.
Market Price for This Zip Code Has: Decreased By 4.56% in the past 60-days.
Estimated Percentages of Owner vs. Tenants in Neighborhood: 50% Owner Occupant 50% Tenants.
There is an over supply of active listings.
Approximate number of units for sale is: 593.
Number of units that are Pre-foreclosure stage: 10 (not listed in MRIS).
Number of units that are Short Sale Stage: 64 (listed in MRIS).
Number of units that are REO or Corporate owned: 30
Market Activity
Range of values is $25,000 to $650,000.
Normal marketing time is: 118 Days (last 6 months).
Resale Comments:
My independent MRIS research shows that there are currently 593 homes on the market in the 21224 zip code. Most of these homes are overpriced or are in less than ideal condition that do not attract buyers and just sit on the market. The average day's on the market for these active properties is 160. There are currently 162 homes under-contract. These buyers have found and are expecting and getting a great value-a good home at a good price and with all the competition for their attention, they have a lot of choices. These buyers are really picky. There were 126 homes that sold in the last 60-days. The average day's on the market was 98. Buyers have a sense of what's fair market value and what's not and they just won't show up if sellers are not in the ballpark. There is currently 8.06 months supply of inventory on the market in the 21224 zip code. It's very important that sellers price their home correctly and competitively. Buyers are looking for value pricing and if sellers don't meet these expectations, they'll be overpriced and overlooked.
Market Price for This Zip Code Has: Decreased By 3.73% in the past 6 months.
Estimated Percentages of Owner vs. Tenants in Neighborhood: 100% Owner Occupant 0% Tenants.
There is an over supply of active listings. Approximate number of units for sale is: 21.
Number of units that are Pre-foreclosure stage: 2 (not listed in MRIS).
Number of units that are Short Sale Stage: 3 (listed in MRIS).
Number of units that are REO or Corporate owned: 1
Market Activity
Range of values is $400,000 to $965,000.
Normal marketing time is: 192 Days (last 6 months).
Resale Comments:
My independent MRIS research shows that there are currently 21 homes on the market in the 21794 zip code. Most of these homes are overpriced or are in less than ideal condition that do not attract buyers and just sit on the market. The average day's on the market for these active properties is 147. There are currently 4 properties under-contract. These buyers have found and are expecting and getting a great value-a good home at a good price and with all the competition for their attention, they have a lot of choices. These buyers are really picky. There were 6 properties that sold in the last 60-days. The average day's on the market was 184. Buyers have a sense of what's fair market value and what's not and they just won't show up if sellers are not in the ballpark. There is currently 9.13 months of inventory on the market in the 21794 zip code. It's very important that sellers price their home correctly and competitively. Buyers are looking for value pricing and if sellers don't meet these expectations, they'll be overpriced and overlooked.
Learn Short Sales and Help Homeowners: CDPE is 22-Days Away!
We have the chance to turn the challenges of today's market into real OPPORTUNITY while helping hundreds of troubled homeowners in our area. And we believe the CDPE Designation will help us to do just that!
So, we've decided to bring the CDPE training course to the Sheraton Baltimore City Center Hotel 101 W. Fayette St Baltimore, MD 21201 to help you learn how to increase your transactions while improving the communities we serve and even the impression of our industry as a whole.
CDPE Live! Designation Course:
Sheraton Baltimore City Center Hotel 101 W. Fayette St Baltimore, MD 21201
Today, the CDPE foreclosure avoidance education will help you become profitable, but creating a positive impact in the lives of distressed homeowners is priceless. Being a CDPE means being a part of the CDPE Nationwide Movement within the real estate industry. Learn more about Wells Fargo's Commitment to the Short Sale Process, including the application activation, what is important to the initial negotiators file review, BPO's, mortgage insurance approval, investor approval, tips on how to negotiate additional lien releases, and realistic time frames. Critical Information you need to know to manage proper expectations.
Our company has been able to negotiate a $100 discount for you to enroll in the CDPE Live! Course. Register with the code-DISC100-and you can take the CDPE course for the exclusive price of just $499!
The U.S. Treasury Department estimates that as many as nine million homeowners will face foreclosure in the next 36 months. These are homeowners in distress - families facing crisis. America's real estate professionals are rallying to help. But first, real estate professionals must arm themselves with up-to-date information.
The National housing market may not stabilize until the 1st quarter of 2011. Foreclosure activity hit an all-time high in the 1st quarter of 2009. Twelve percent of all mortgages are at least one payment delinquent says the Mortgage Bankers Association. Not only has foreclosure activity surged, it's become more widespread, as prime, fixed rate mortgages now constitute 56% of mortgages in the foreclosure process. Source: Housing Wire.
As Certified Distressed Property Experts we deal with banks, loan servicer's and asset managers who contact us on a daily basis to help determine the value of their assets.
If you, your family or friends are facing a current or future financial hardship the www.MarylandShortSaleTeam.com can help please contact me Aaron Rice, Certified Distressed Property Expert (CDPE). 443-244-0051.
Are you facing a financial hardship?
Sellers are advised to obtain legal advice regarding the advisability and terms of any short sale agreement with creditor(s) and professional tax advice regarding the tax implications of any such sale.
This process will result in the loss of your home.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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