MONTGOMERY COUNTY MD LENDER OWNED FORECLOSURES  

There are 174 active listings of  lender owned foreclosures (REO) available for purchase in Montgomery County MD

Click the following URL to see the report from highest to lowest prices:

Click on the listing number to see the full property description. Sort by column headers. Updated reports are available as you request them by email to roykelley@mris.com

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-88435512-828

Why is this report of interest to home owners?  Foreclosures and short sales are still impacting the local market. These properties compete with individual home sellers and tend to pull down home values.  

When you are searching for homes in Maryland, you will want to use Homes Prospector at www.roykelley.com  This is a service of MRIS, the regional multiple listing service, and you will find the most accurate up to date information on properties that are available for purchase. Foreclosures will be included in the results of your searches.

Most of the homes that are sold at trustee sale auctions at the court house entrance are purchased by the secured mortgage lenders. The lenders then offer the homes for sale when they become part of the REO inventory. All of the lender owned homes are listed with area agents and are available on MRIS.

Why are buyers focusing on the REO inventory? The simple reason is that is where the purchase bargains are being found. Lenders are highly motivated sellers and they reduce the prices until the properties are under contract. This is a very active market and well priced prices attract multiple contracts.

All home buyers that plan to use mortgage financing should obtain pre-approval for financing as the first step in the purchase process. First time home buyers need to move quickly to qualify for the currently available $8,000 tax credit. The settlement deadline to qualify for this incentive is November 30, 2009. Many of the lender owned foreclosures have deferred maintenance or repair requirements. Buyers that want to purchase fix-up properties should be learning about renovation financing such as the FHA 203(k) program.

We represent home buyers as their exclusive agents in the Maryland suburbs of Washington DC and nearby counties.