You may wish to share these tips from Dirk Zeller with your friends in real estate sales.

Ten Tips To Remember When Working With Buyers

Dirk Zeller
CEO
Real Estate Champions

Most highly successful Agents are Listing Agents who represent home sellers. But the majority of all Agents ­- and nearly all newer Agents - earn most of their commissions by serving as Buyer's Agents in the real estate transaction. As you build your business in the early years, use the following ten tips to increase your effectiveness and efficiency working with buyers.

Qualify Your Prospects

Prospects either are motivated and able to buy, or they're not. Agents who work with low-quality buyer leads hoping they can raise their interest levels and convince them to take action, most often are wasting precious time.

An Agent can offer counsel on favorable interest rates, low inventory levels, and the benefits of taking immediate action, but even the most skilled salesperson can't prompt an unmotivated prospect to adopt a sense of urgency.

Quality prospects must be motivated to buy, must want or need to take action within a short time frame, and must be committed to working exclusively with you as their Agent. If your prospect lacks these attributes, you're better off saying, "Next" and turning your time and talent toward another prospect.

Work Only With Committed Clients

Many Agents think they cover this issue when they ask buyer prospects if they are working with another Agent, but that's really the wrong question.  The right question is, "Are you committed to another Agent?"  This gets to the heart of the philosophy you want your clients to adopt. You want their commitment.

Agents receive compensation from committed clients. Clients who "work" with you make no promises regarding the outcome, and the odds that they can switch to another Agent at any time can leave you empty-handed in the end.

If you've advertised a listing and you receive an ad call or sign call, don't simply offer to meet and show the home. Make it your objective to meet the buyer prospects in your office. If you feel that you need to show them one home to open the door toward commitment, do so, but don't show additional properties without testing their motivation to buy, confirming their commitment to buy, and gaining their loyalty to you as an Agent.

Don't Assume That the Buyer is Committed to Work With You Exclusively

If you indulge yourself in the belief that a prospective buyer who comes through your open house, responds to your ad, calls after seeing your sign, or hits your Web site is dealing with you and only you, you're practicing wishful thinking, and faulty thinking as well.

Make it your objective to be the first Agent to set an appointment for a face-to-face meeting that ends with the launch of your exclusive working relationship. Until you gain the buyer's agreement to work exclusively with you, you're in competition with all the other Agents in your marketplace.

Ask for and Win an Appointment

Whether you're working with buyers or sellers, the route to success starts with a face-to-face appointment - in your office - during which you can demonstrate your value to the prospect.

The appointment is the gateway to a new client and, after that, a closed deal and a commission check. In every conversation with a qualified prospect, ask for an appointment.

Be Ready to Counter Typical Buyer Misconceptions

Buyers, especially first-time buyers who comprise the bulk of a newer Agent's clientele, often come to the transaction with limited knowledge and a lineup of misunderstandings about how Real Estate Agents and real estate deals work. Be ready to confront and overcome the following frequent problem areas:

• Many buyers don't see why they need to work exclusively with a particular Agent to find and buy a home. Many think that once they find the home of their dreams the seller's Agent can handle the deal. As they see it, the seller is already paying the commission and so the buyer can just piggyback and take advantage of the Agent's time and expertise. It's your job to help the buyer understand that by working exclusively with a Buyer's Agent - you - they will get the same kind of preferential treatment and fiduciary counsel that, for example, attorneys promise when they agree to represent only one client in a legal case.

• Buyers don't understand the importance of beginning their home search already financially pre-qualified or, better yet, pre-approved for a loan. Explain to them that just as they want to find the best home, the sellers want to find the best buyer. If sellers are presented with two offers, one from a buyer who is clearly in a financial position to close the deal and the other with a bunch of financial question marks, guess which one they'll choose.

• Too many buyers have a preconceived idea of their perfect home and they think that if they look long enough - and if they get enough Agents searching on their behalf - they'll find the needle in the haystack. The reality is this: Buyers don't buy perfect homes; they turn the houses they buy into perfect homes. If you're representing a buyer in search of ready-made perfection, you either need to help your client explode the perfection myth or you need to select another buyer to work with.

The list of buyer misconceptions goes on and on. Most buyers think they should never offer full price. They think they should always start with a low offer and come up later. And maybe, worst of all, they think there's time to dally because the owners of the property they want to buy will wait for them to act. When you encounter buyers with these beliefs, tell them this truth: The most disappointed buyers are those who lose the home they want by not taking early action or by not being competitive enough in their offers when they do.   

Explain the Services You Provide

You can't assume buyers understand what you do. They don't. Nor the know how to distinguish you from all the other Agents in your marketplace. Detail what you do and how you do it better than other Agents by following this advice:

• Provide a complete explanation of the home buying process.
• Provide a complete overview of current and emerging real estate conditions in your market area.
• Let your clients know that you're ready and able to assist them in selecting the best home in their price range.
• Write your purchase agreement to correctly and clearly express your intentions and how you will represent the buyers' interests. The purchase agreement is the contract between the buyer and seller.
• Submit your purchase agreement in a manner that will present you in the most favorable position.

The important thing to remember is that you must distinguish yourself from the competition. You must prove your excellence and convince your prospects that you offer important personal services that they can only receive by choosing you to exclusively represent their interests in the purchase of their new home.

Develop a Partnership With a Lender

One of the best ways to win a commitment from buyer prospects is to bring a Mortgage Originator into the relationship early on. This partnership delivers two major advantages:

• The Lender can determine the prospect's financial qualifications and spare you from hours spent with prospects that are in no position to buy or unable to buy at the level they desire.

• By steering your prospect toward a trusted Lender you put the financial portion of the transaction into the hands of skilled professional. Just as the number of Real Estate Agents can increase or decrease depending on the marketplace, so are the ranks of the mortgage industry. If you leave the choice of a Lender to chance, odds are better than good that the deal will go to a Lender you don't know or recommend, leaving you working harder to pick up the pieces at the end of the transaction.

Ask Buyer Prospects Plenty of Questions

Contrary to popular belief, prospects don't want to listen to your sales spiel. They want to talk about their wants, needs, and desires. Arm yourself with a good list of questions and you'll be well on your way to not only gathering the information you need to do your job well, but also to establishing the rapport and confidence necessary to gain the prospect's commitment.

To gather the information you need, learn everything you can about what the buyers are looking for in a new home. What area or areas do they prefer? What type of home do they have in mind? What home styles do they like best? What is their ideal move date? How many bedrooms, bathrooms, and other types of rooms do they want? How long have they been looking? Have they seen anything they liked? What are their financing arrangements and how far along are they in securing the financing?  How do they want to be communicated with?  What is their expectation of you as an Agent?

Take Control

When you work with seller prospects, either you get a listing contract or you don't. Right then and there, you know whether you have a committed client, and you know exactly what the sellers expect to get out of the deal, since the sales price is right on the agreement.

Buyer prospects are harder to pin down. They may be inclined to work with a number of Agents. They may change their minds about what they really want. They may have lofty and unrealistic home expectations. For these reasons and more, as a Buyers' Agent you need to take control and manage the Agent-buyer relationship.

The first step is to convince the buyers of the value of working exclusively with one Agent. The next step is to learn the buyers' purchase and service expectations by asking the kinds of questions detailed in the preceding section. The third, and most important, step is to take control and guide the buyers through the home viewing, property evaluation, home selection, and purchase phases.

In the process, be ready to serve as a reality therapist. More often than not, you'll have to lower your buyers' expectations regarding what their dollars can buy, gently adjusting their champagne taste buds to align with what looks more like a beer budget.

It's OK to say No

If the client wants you to do something you feel you can't, say no.  If you can't meet them on Saturday, say no, you can't. If they're asking you to write a ridiculous offer that will only make you look bad to the other Agent and seller, say no.  If they want you to participate in a shady transaction where the money trail is covered, say no.

I was asked many times throughout my career, especially in the early days, to engage in transactions with "creative financing." Less-than-honest buyers know to seek out new, hungry, inexperienced Agents to work with on their "innovative" deals. Be aware that too often "creative financing" schemes also fit under another term...called fraud!

From: KentlandsNeighborhoodWatch@yahoogroups.com

[mailto:KentlandsNeighborhoodWatch@yahoogroups.com] On Behalf Of Tillery, Diane Q

Sent: Tuesday, August 19, 2008 1:39 PM

To: KentlandsNeighborhoodWatch@yahoogroups.com

Subject: [KentlandsWatch] ARREST MADE : Suspicious person and van

For weeks now, the MCPS has been receiving calls for a man driving a tan van approaching people asking for money. The story is usually the same.

He needs money for gas to visit his sick mother in the hospital.

However by the time the Police arrive, the man and his tan van are gone.

On 8/17/08, our mystery man tried the same in the Diamond Farms community and was finally arrested. Here is the real story:

The defendants name is Garry Hall, B/M 49 years old, 5-08, 225 pounds black hair and brown eyes, very short cropped hair, dark skin tone, heavy build, who lives on Pontiac Way in Gaithersburg. He drives a tan van with Maryland tags 06261M6. He has a suspended license.

When the officers arrived, he had just scammed a resident for $25.00 which was recovered in this fraud scheme from Hall. This is his second arrest for the same scam. He is currently incarcerated. Hall admits that this is "easy money" and that "people give him money to get rid of him". He admitted to doing this through the Kentlands, Lakelands, Willow Ridge, Orchard Knolls, Quince Orchard Estates, Diamond Farms and Quince Orchard Park communities.

Please continue to report any suspicious behavior and trust your instincts.

Many thanks to those that have called and helped with this arrest.

Officer Diane Tillery

Diane.Tillery@montgomerycountymd.gov

<mailto:Diane.Tillery%40montgomerycountymd.gov>

Montgomery County Police

Sixth District

Community Services Officer

240-773-5757

 MONTGOMERY COUNTY, MARYLAND FORECLOSURES

Harvey West Auctioneers has posted the following trustee sales that are scheduled in Montgomery County, MD.  The auctions take place at the court house entrance in Rockville.  visit www.hwestauctions.com for additional information and always carefully read the newspaper advertisement for the terms and conditions. The required deposits need to be in cash or certified funds.

Most of the homes that are sold at the sales are purchased by the secured mortgage lenders.  The lenders then offer the homes for sale to the public when they become part of the REO inventory. Contact us for client reports on lender owned homes in Montgomery County and Frederick County, Maryland.  roykelley@mris.com  

 TRUSTEE SALES - MONTGOMERY COUNTY, MARYLAND

The Fisher Law Group has posted the following schedule of Montgomery County trustee sales scheduled to take place at the court house entrance in Rockville, MD.  Always carefully read the advertisements for the sales for the full terms and conditions. http://www.first-legal.com/salelist/sales.html

Most of the homes that are sold at the auctions are purchased by the secured mortgage lenders. The lenders then offer the homes for sale when they become part of the REO inventory.  Contact us for client reports on lender owned homes in Montgomery County or Frederick County, Maryland. We represent buyer clients as their exclusive agents.  roykelley@mris.com

TRUSTEE SALE AUCTIONS - FREDERICK COUNTY, MD

Cohn, Goldberg, Deutsch, LLC, (410) 296-2550, has posted the following schedule of trustee sales to take place at the court house entrance in Frederick County, Maryland. Always check for last minute cancellations before attending the sales.

Trustee sale auctions are open to the public and any qualified bidders. The required deposit needs to be in cash or certified funds.  Prospective bidders should carefully read the newspaper advertisements for the terms and conditions and fully understand the risks before bidding on properties.

Most of the homes that are sold are purchased by the secured mortgage lenders. The lenders then offer the homes for sale to the public when they become part of the REO inventory.  Contact us at roykelley@mris.com for client reports on lender owned homes in Montgomery County and Frederick County, MD. 

417575	2446 Lakeside Drive Frederick, MD 21702	Frederick County, MD	$21,500	8/20/2008	12:15 pm	*
419464	2227 Regina Drive Clarksburg, MD 20871	Frederick County, MD	$33,200	8/27/2008	12:15 pm
419535	133 Sandalwood Court Walkersville, MD 21793	Frederick County, MD	$20,400	9/3/2008	12:15 pm
419868	101 Sunset Avenue Mt. Airy, MD 21771	Frederick County, MD	$37,300	9/3/2008	12:16 pm
419506	82 George Thomas Drive Frederick, MD 21702	Frederick County, MD	$39,000	9/3/2008	12:17 pm
419095	1531 S. Rambling Way Frederick, MD 21701	Frederick County, MD	$27,000	9/3/2008	12:18 pm
419927	6335 Mountaindale Road Frederick, MD 21702	Frederick County, MD	$36,400	9/10/2008
419265	101 W Orndorff Drive Brunswick, MD 21716	Frederick County, MD	$21,000	9/10/2008
418746	14011 Silver Fern Drive Mount Airy, MD 21771	Frederick County, MD	$45,500	9/10/2008
412950	11074 San Andrew Drive - 1st New Market, MD 21774	Frederick County, MD	$27,200	9/10/2008		*
419439	11 Fiona Way Brunswick, MD 21758	Frederick County, MD	$32,000	9/10/2008
419467	12 Contour Road Mount Airy, MD 21771	Frederick County, MD	$29,500	9/10/2008
419712	10812 Lake Square Court New Market, MD 21774	Frederick County, MD	$27,000	9/17/2008
419532	1006 Peach Orchard Lane Brunswick, MD 21716	Frederick County, MD	$20,000	9/24/2008
415045	203 Thomas Avenue Frederick, MD 21701	Frederick County, MD	$24,900	9/24/2008

TRUSTEE SALE AUCTIONS - MONTGOMERY COUNTY, MD

Cohn, Goldberg, Deutsch, LLC, (410) 296-2550, has posted the following schedule of trustee sales to take place at the court house entrance in Montgomery County, Maryland. Always check for last minute cancellations before attending the sales.

Trustee sale auctions are open to the public and any qualified bidders. The required deposit needs to be in cash or certified funds.  Prospective bidders should carefully read the newspaper advertisements for the terms and conditions and fully understand the risks before bidding on properties.

Most of the homes that are sold are purchased by the secured mortgage lenders. The lenders then offer the homes for sale to the public when they become part of the REO inventory.  Contact us at roykelley@mris.com for client reports on lender owned homes in Montgomery County and Frederick County, MD. 

419279	9007 Turtle Dove Lane Gaithersburg, MD 20879	Montgomery County, MD	$22,500	8/13/2008	11:15 am
419459	18601 Sage Way Germantown, MD 20874	Montgomery County, MD	$22,500	8/20/2008	11:15 am
418890	1109 Rosemere Avenue Silver Spring, MD 20904	Montgomery County, MD	$38,400	8/20/2008	11:17 am
420409	13210 Foxhall Drive Silver Spring, MD 20906	Montgomery County, MD	$47,000	8/20/2008	11:18 am
419527	4808 Oxbow Road Rockville, MD 20852	Montgomery County, MD	$36,300	8/27/2008	11:15 am
418466	3219 Beaverwood Lane Silver Spring, MD 20906	Montgomery County, MD	$25,800	8/27/2008	11:17 am	*
417519	12811 New Hampshire Avenue Silver Spring, MD 20904	Montgomery County, MD	$32,300	8/27/2008	11:18 am
414334	18735 Jerusalem Church Road Poolesville, MD 20837	Montgomery County, MD	$33,100	8/27/2008	11:19 am
416928	9303 Sparrow Valley Drive Montgomery Village, MD 20886	Montgomery County, MD	$29,100	8/27/2008	11:20 am
418189	20113 Welbeck Terrace Gaithersburg, MD 20886	Montgomery County, MD	$22,400	8/27/2008	11:21 am
417965	11317 Mitscher Street Kensington, MD 20895	Montgomery County, MD	$36,200	8/27/2008	11:22 am
415845	16 Cross Laurel Court Germantown, MD 20876	Montgomery County, MD	$27,800	8/27/2008	11:23 am
419861	1211 Ednor Road Silver Spring, MD 20905	Montgomery County, MD		9/3/2008		Cancelled
419491	10712 Walmesley Street Kensington, MD 20895	Montgomery County, MD		9/3/2008		Cancelled
419525	10421 Montrose Avenue, Unit 101 Bethesda, MD 20814	Montgomery County, MD	$30,200	9/3/2008	11:15 am
419354	19118 Highstream Drive, Unit 749 Germantown, MD 20874	Montgomery County, MD	$26,650	9/3/2008	11:16 am
419555	10206 Ridgeline Drive Montgomery Village, MD 20886	Montgomery County, MD	$26,200	9/3/2008	11:17 am
419523	3210 Medway Street Silver Spring, MD 20902	Montgomery County, MD	$28,100	9/3/2008	11:19 am
419514	19301 Moon Ridge Drive Germantown, MD 20876	Montgomery County, MD	$52,800	9/3/2008	11:20 am
419526	4228 Isbell Street Silver Spring, MD 20906	Montgomery County, MD	$48,500	9/3/2008	11:21 am
419542	11618 Veirs Mill Road Wheaton, MD 20902	Montgomery County, MD	$45,600	9/3/2008	11:22 am
419275	2301 Blue Valley Drive Silver Spring, MD 20904	Montgomery County, MD	$53,500	9/3/2008	11:24 am
419476	9410 Old Georgetown Road Bethesda, MD 20814	Montgomery County, MD	$53,300	9/3/2008	11:25 am
419613	12029 Bluhill Road Silver Spring, MD 20902	Montgomery County, MD	$29,000	9/3/2008	11:26 am
419387	3901 Dunes Way Burtonsville, MD 20866	Montgomery County, MD	$36,100	9/3/2008	11:27 am
419447	5105 Crossfield Court Unit 14 Rockville, MD 20852	Montgomery County, MD	$23,500	9/3/2008	11:28 am
419715	4 Cross Tie Court Gaithersburg, MD 20879	Montgomery County, MD	$37,000	9/3/2008	11:29 am
420051	4315 Thistlewood Terrace Burtonsville, MD 20866	Montgomery County, MD	$29,000	9/3/2008	11:30 am	*
416175	2211 Greenery Lane, Unit T-2 a/k/a Unit T-2-6 Silver Spring, MD 20906	Montgomery County, MD	$23,500	9/3/2008	11:31 am
417141	18600 Grosbeak Terrace Gaithersburg, MD 20879	Montgomery County, MD	$33,050	9/3/2008	11:31 am
418549	20506 Bordly Court Brookeville, MD 20833	Montgomery County, MD	$97,200	9/3/2008	11:32 am
419661	12713 Murphy Grove Terrace Clarksburg, MD 20871	Montgomery County, MD	$58,200	9/10/2008
419617	101 Middle Point Court Gaithersburg, MD 20877	Montgomery County, MD	$32,000	9/10/2008
418799	11804 Georgia Avenue Silver Spring, MD 20902	Montgomery County, MD	$32,550	9/10/2008
419675	2405 Evans Drive Silver Spring, MD 20902	Montgomery County, MD	$43,000	9/10/2008
417030	11818 Pittson Road Silver Spring, MD 20906	Montgomery County, MD	$30,000	9/10/2008	11:15 am
419703	18716 Walkers Choice Road, Unit 2 Montgomery Village, MD 20886	Montgomery County, MD	$19,500	9/17/2008
419910	4021 Adams Drive Silver Springs, MD 20902	Montgomery County, MD	$32,000	9/17/2008
419623	262 W Deer Park Road, Unit 30-F Gaithersburg, MD 20877	Montgomery County, MD	$28,000	9/17/2008
419524	9520 Old Georgetown Road Bethesda, MD 20814	Montgomery County, MD	$63,000	9/18/2008
418877	3812 Delano Street Silver Spring, MD 20902	Montgomery County, MD	$30,500	9/24/2008

TRUSTEE SALES - MONTGOMERY COUNTY, MARYLAND

Alex Cooper Auctioneers, 410-828-4838, has posted the following schedule of trustees sales to take place at the court house entrance in Montgomery County, Maryland.

Trustee sales are open to the public and any qualified bidders. The deposits need to be in cash or certified funds. Always check for cancellations before attending the auction sales.

Prospective bidders should carefully read the newspaper advertisements for the terms and conditions and seek advice from attorney or experienced real estate agent.

Most of the homes that are sold are purchased by the secured mortgage lenders.  The lenders then offer the homes for sale when they become part of the REO inventory. Contact us at roykelley@mris.com for client reports on lender owned homes in Montgomery County or Frederick County, MD.  

Wednesday, August 20, 2008
Montgomery County

2:20 PM- 15 Pine Ridge Ct., Unit #12-B, Germantown, 20874 Dep. $29,000. BGW

2:21 PM- 19501 Divot Pl., Montgomery Village a/r/t/a Gaithersburg, 20886 Dep. $32,000. BGW

2:22 PM- 9904 Scotch Broom Ct., Potomac, 20854 Dep. $145,000. BGW

9904 SCOTCH BROOM CT, POTOMAC, MD 20854

2:23 PM- 8212 Brink Rd., Gaithersburg, 20882 Dep. $66,000. BGW

2:24 PM- 12620 Travilah Rd., Potomac, 20854 Dep. $138,000. BGW

12620 TRAVILAH RD , POTOMAC, MD 20854

2:25 PM- 12320 Charles Rd., Silver Spring, 20906 Dep. $39,000. BGW

2:26 PM- 11525 Taber St., Silver Spring, 20902 Dep. $31,000. BGW

2:27 PM- 1021 Carson St., Silver Spring, 20901 Dep. $33,000. BGW

THE ABOVE SALE(S) TO BE HELD AT THE COURTHOUSE DOOR, 50 MARYLAND AVE., ROCKVILLE, MONTGOMERY CO.

Thursday, August 21, 2008
Montgomery County

10:00 AM- 30 Nina Ct., #172, Gaithersburg, 20877 Dep. $28,000. BU

10:04 AM- 1515 Casino Cir., Silver Spring, 20906 Dep. $28,500. BU

10:06 AM- 984 West Side Dr., #22-D, Gaithersburg, 20878 Dep. $28,000. BU

10:08 AM- 8401 Marketree Cir., Montgomery Village, 20886 Dep. $49,000. BU

10:10 AM- 5 Calypso Ct., Gaithersburg, 20879 Dep. $50,500. BU

THE ABOVE SALE(S) TO BE HELD AT THE COURTHOUSE DOOR, 50 MARYLAND AVE., ROCKVILLE, MONTGOMERY CO.

Monday, August 25, 2008
Montgomery County

11:00 AM- 5 Tripoley Terr., Gaithersburg, 20878 Dep. $46,000. MHS

11:01 AM- 12805 Tourmaline Ct., Silver Spring, 20904 Dep. $41,000. MHS

THE ABOVE SALE(S) TO BE HELD AT THE COURTHOUSE DOOR, 50 MARYLAND AVE., ROCKVILLE, MONTGOMERY CO.

Tuesday, August 26, 2008
Montgomery County

11:00 AM- 12709 York Mill Lane, Clarksburg, 20871 Dep. $43,000. F&M

THE ABOVE SALE(S) TO BE HELD AT THE COURTHOUSE DOOR, 50 MARYLAND AVE., ROCKVILLE, MONTGOMERY CO.

August 27, 2008
Montgomery County

2:45 PM- 17506 Sabrina Terr., Derwood, 20855 Dep. $29,000. BGW

2:46 PM- 12611 Flack St., Silver Spring, 20906 Dep. $30,000. BGW

2:48 PM- 9110 Georgia Ave., Silver Spring, 20910 Dep. $81,000. BGW

2:49 PM- 14832 Melfordshire Way, Silver Spring, 20906 Dep. $31,000. BGW

2:50 PM- 14261 Secluded La., Gaithersburg a/r/t/a North Potomac, 20878 Dep. $59,000. BGW

2:51 PM- 12490 Ansin Circle Dr., Potomac, 20854 Dep. $83,000. BGW

12490 ANSIN CIRCLE DR, POTOMAC, MD 20854

2:53 PM- 8128 Brucar Ct., Gaithersburg, 20877 Dep. $46,000. BGW

2:54 PM- 19026 Partridge Wood Dr., Germantown, 20874 Dep. $29,000. BGW

2:55 PM- 14208 Rippling Brook Dr., Silver Spring, 20906 Dep. $68,000. BGW

2:56 PM- 2905 Byron St., Silver Spring, 20902 Dep. $37,000. BGW

2:57 PM- 318 Wayne Ave., Silver Spring, 20910 Dep. $44,000. BGW

2:58 PM- 9723 Capitol View Ave., Silver Spring, 20910 Dep. $47,000. BGW

2:59 PM- 11711 College View Dr., Silver Spring, 20902 Dep. $33,000. BGW

3:00 PM- 9102 Bramble Bush Ct., Gaithersburg, 20879 Dep. $24,000. BGW

3:01 PM- 15113 Redgate Dr., Silver Spring, 20905 Dep. $46,000. BGW

3:02 PM- 11429 Berland Pl., Germantown, 20876 Dep. $28,000. BGW

THE ABOVE SALE(S) TO BE HELD AT THE COURTHOUSE DOOR, 50 MARYLAND AVE., ROCKVILLE, MONTGOMERY CO.

Rental Property Update - Lead Poisoning Prevention Act of 2008 - Effective October 1, 2008

A new Maryland law will allow a tenant to terminate a lease when a property owner has not complied with Maryland's Lead Poisoning Prevention Program (LPPP). The law requires home contractors seeking a license to provide proof of lead paint abatement accreditation if the contractors provide such services. The bill allows a tenant to recover reasonable attorney fees and $2,500 in moving expenses. The Maryland Lead Poisoning Prevention Program requires owners of older residential rental properties (pre-1978) to meet specified risk reduction standards. The program is administered by the Maryland Department of the Environment (MDE). For more information call the Lead Poisoning Hotline at 1.800.776.2706 or visit www.mde.state.md.us.

LAYTONSVILLE FORECLOSURE - GOLF ESTATES

Harvey West Auctioneers has scheduled a trustee sale of this home for September 3,2008 at 11:08 AM.  The advertisement appeared in The Washington Post this morning.   The required deposit is $25,000 in cash or certified funds.  The loan in default is in the amount of $1,000,000. See www.hwestauctions.com

Trustee sales are held at the court house entrance in Rockville and are open to the public. Always read the newspaper advertisement for the terms and conditions and check for cancellations before attending the sales.

Most of the homes that are sold at the trustee sales are purchased by the secured mortgage lenders.  The lenders then offer the homes for sale when they become part of the REO inventory.  Contact us for client reports on lender owned homes in Montgomery County, Maryland.  roykelley@mris.com

20802 FAIRWAY VIEW DR N, GAITHERSBURG, MD 20882
GOLF ESTATES - 5 BEDROOMS/4.5 BATHS

Market Conditions:   We continue to experience a strong buyer's market in Montgomery County. And, the market is very active. Buyers have been waiting for low prices and now they are able to purchase at the lowest prices that we have seen in several years.  The selection is large, so buyers can be a bit picky as long as the inventory is high. Lenders are reducing prices on the REO homes and the sales volume is strong. By all appearances, the time frame from now through December will be an excellent time for home purchases.    

MONTGOMERY COUNTY, MARYLAND LENDER OWNED FORECLOSURES  (Rev. 8/18/08)

(Contact us for further price reductions)  

We have a very simple request if you wish to receive our information and advice.  We ask you to agree to use us as your exclusive buyer agents for your next real estate purchase. Please advise us if you are represented by another real estate agent.  

REO homes are foreclosures owned by lenders and other entities.    We represent clients as exclusive buyer agents. The disclosures that are required for home buyers in Maryland will be provided when you meet with us.  Buyers must have pre-approval letters for mortgage financing.  Email us for a referral to a lender.  

The following are available REO homes. Prices are reduced until they are sold.  

REO:  808 1st St., Burgandy Village, Rockville 20850 3 BR/2 BA $301,900 SF REDUCED FROM $317,000

REO:  20464 Afternoon Lane, Churchill Town Sector, Germantown 20874 3 BR/3.5 BA $234,900 TH

REO:  14115 Aldora Cir, Silver Spring Country Club, Burtonsville 20866 2 BR/2.5 BA $229,900 TH

Countrywide:  13612 Ambassador Dr., Landing Glen, Germantown 20874 2 BR/2.5 BA $254,900 TH

Countrywide:  20407 Ambassador Ter., Landing Glen, Germantown 20874 2 BR/2 BA $219,900 TH REDUCED FROM $264,900

Tribeca Lending:  20528 Amethyst Lane, Churchill Town Sector, Germantown 20874 3 BR/2.5 BA $254,900 TH REDUCED FROM $275,500

Indymac Bank:  20557 Amethyst Lane, Churchill Town Sector, Germantown 20874 2 BR/1.5 BA $219,900 TH REDUCED FROM $235,500

Countrywide:  8347 Amity Cir., Hamlet North, Gaithersburg 20877 3 BR/2.5 BA $263,900 TH Condo REDUCED FROM $306,900

Fannie Mae:  17633 Amity Dr., Hamlet North, Gaithersburg 20877 3 BR/2.5 BA $239,900 TH Condo REDUCED FROM $259,900

Aurora Loan Services:  17643 Amity Dr., Hamlet North, Gaithersburg 20877 3 BR/3.5 BA $217,500 TH Condo REDUCED FROM $267,000

HSBC Bank:  25025 Angela Ct., Clearspring Manor, Damascus 20872 3 BR/2.5 BA $218,500 TH REDUCED FROM $260,000

REO:  13478 Ansel Ter., Cloppers Mill West, Germantown 20874 3 BR/2.5 BA $369,900 TH

IndyMac Bank:  19811 Apple Ridge Pl., Watkins Mill, Montgomery Village 20886 3 BR/1.5 BA $185,000 TH REDUCED FROM $244,900

Countrywide:  2115 Arcola Ave., Arcola, Silver Spring 20902 3 BR/2 BA $337,900 SF REDUCED FROM $476,900

Fannie Mae:  13705 Arctic Ave., Bel Pre Woods, Rockville 20853 3 BR/1 BA $279,900 SF REDUCED FROM $372,900

GMAC Mortgage:  3717 Astoria Rd., Newport Hills, Kensington 20895 4 BR/3 BA $299,000 SF REDUCED FROM $418,950

Wells Fargo Bank:  11705 Ashworth Ct., Fox Chapel, Germantown 20876 3 BR/2.5 BA $188,100 TH REDUCED FROM $197,950

REO:  12403 Atherton Dr., Conn. Ave. Park, Silver Spring 20906 3 BR/1 BA $312,495 SF REDUCED FROM $375,000

Countrywide:  25 Atwood Ct., Layhill View, Silver Spring 20906 4 BR/3.5 BA $573,900 SF REDUCED FROM $619,900

REO:  7614 Augustine Way, Goshen Estates, Gaithersburg 20879 5 BR/3.5 BA $485,900 SF REDUCED FROM $539,900

THIS IS A PART OF THE REPORT THAT WE EMAILED TO OUR CLIENT LIST TODAY. 

PLEASE CONTACT US IF YOU WISH TO RECEIVE THE COMPLETE LIST BY EMAIL.  THIS IS A SERVICE THAT WE PROVIDE FOR OUR CLIENTS.

IF YOU ARE NOT ALREADY IN OUR DATABASE, WE NEED YOUR NAME, CURRENT ADDRESS, PHONE NUMBERS, EMAIL ADDRESS AND REAL ESTATE NEEDS TO SET UP A CONTACT RECORD.  PLEASE ADVISE US IF YOU ARE REPRESENTED BY A BUYER AGENT.  EVERYONE THAT SUBMITS A CONTRACT ON A REO NEEDS A BUYER AGENT.

ROY KELLEY

CLIENT SERVICE:  301-670-8996

EMAIL: ROYKELLEY@MRIS.COM