Silver Spring, MD Homes For Sale For $250,000 Or Less

Silver Spring, MD Homes For Sale For $250,000 Or Less  

Active Listings, Short Sales, REO Listings Of Lender Owned Foreclosures - Montgomery County  

Investor Alert  

What is available in homes for sale for $250,000 or less?   This is a question that is being asked by real estate investors as they seek to build their rental portfolios. Homes in the area make good rental properties because of the convenience to employment centers, shopping and public transportation. And, the schools have an outstanding reputation. Many are pleased to find that there is a very good selection of homes for sale below the $250,000 price level.  

 Spring is blooming for Maryland real estate investors.

This is what is available today:  

If you exclude the short sales and lender owned foreclosures, there are 193 active listings of homes for sale. Investors try to identify the highly motivated sellers. 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.  

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-112375154-251  

For those that are working in the short sale market, there are 74 available listings of short sale homes for sale.  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.  

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-112375178-884  

The most productive sector is the inventory of lender owned foreclosures. There are 31 REO homes for sale. 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-112375209-5  

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. Many mortgage lenders are restricting the number of outstanding loans that may be held by real estate investors, regardless of financial strength.  

Please contact us with your specific requirements and we will provide information on homes for sale in Montgomery County in your price range or preferred locations. All of the active listings of homes for sale in Maryland may be viewed on Homes Prospector at www.roykelley.com