We're seeing more foreclosures lately. Here's a website that you can use to search for foreclosures in the area:
There are others, here is one that has government owned properties:
Many homes are put into the multiple-list system so that they show up on www.realtor.com. Some foreclosures are a real deal, some you can submit a low offer and see if they take it. Other times you might be able to get a good deal, maybe as good or better on a "distressed" property. Especially properties that have been listed for awhile, maybe 6+ months, or maybe a divorce situation, or a property where the mortgage payment has started adjusted. The tricky thing is if the house has not been owned long, there may not be any equity in it. We're seeing in a lot of areas that homes are not selling for what they were going for in 2005. There is a great deal right now on a 3 bedroom home in the Glen Burnie area that sold in February 2007 for $305K and is now listed at $257K. Perfect for a first-time buyer and in an area not far from Ft. Meade.
We have resources we can access to find out how much the owner paid and when they purchased to help you make your buying decision.
To get a real deal, we'd suggest not falling in love emotionally with a house, and have a mindset that you want to get a deal and we'll work until you get one. There are so many houses on the market right now, it is definately the time to get a deal. Especially if you are willing to purchase a house that is a fixer-upper or just needs some cosmetics like paint and floring. You might have to make several offers before you find what you want, but the end result will be a good investment!
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