What's Available In Germantown For $200,000 Or Less?
Investor Alert
Investors like Germantown because the area provides a constant supply of moderately homes that are suitable for rental properties. Readily available public transportation and shopping make this an ideal area for many renters. Some investors like to purchase in the price range below $200,000 because the numbers work better for rentals in the lower price ranges. Much of the time, they are competing with first time home buyers.
This is what is available today: There are 67 active listings priced at $200,000 and below.
If you exclude the short sales and lender owned foreclosures, there are 14 available properties. This represents a shortage of regular listings in this price range. Investors try to identify the highly motivated sellers. There are always some sellers that must sell due to divorce, job transfer and other situations. Another condition that favors investors is the current difficulty that home buyers are finding with FHA financing on condos. The lack of FHA condo financing is depressing prices and cash investors are taking advantage of the opportunities. Investors are also attracted to properties that have deferred maintenance or renovation needs that scare away first time home buyers.
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-103212359-973
For those that are working the short sale market, there are 38 active listings. Short sale transactions must be approved by the secured mortgage lenders and most do not reach settlement because of the lack of approvals. Some investors are submitting contracts on multiple properties hoping that a couple will be approved. Contracts should be carefully worded to disclose this strategy to the sellers. First time buyers are avoiding short sales because it is unlikely that contracts will be ratified by the April 30 tax credit deadline.
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-103212481-889
The hot sector is the inventory of lender owned foreclosures. There are 15 active REO listings. Cash investors that have no contract conditions have a definite advantage with the asset managers.
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-103212562-286 Cash investors should have a letter in hand from their bank stating that funds are available for the cash purchase of real estate. Investors that plan to use mortgage financing need to have a pre-approval letter for investor financing from their mortgage lender. Those without written documentation are not taken seriously.
Please contact us with your specific requirements.
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