The Truth About Mortgage Modifications......
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.
Tell us what you think about this months report.
If you can't see the report below please visit www.BaltimoreMarketTrends.com for more info.
Date 11/16/09
Market Area: Montgomery County, MD 20854
Time Frame: 5/16/09 - 11/16/09
General Market Conditions:
Current Market Condition: Slow
Employment Conditions: Declining
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.
Prepared By:
Aaron Rice, CDPE, CLHMS, CRS, GRI, SHS
www.LuxuryDistressedPropertyExpert.com
443-244-0051
Comments(0)