Montgomery Village Homes For Sale - Home Buyer Warning

Montgomery Village Homes For Sale - Home Buyer Warning

Home owners and prospective buyers need to understand the dynamics of the current residential real estate market. All real estate is local and it pays to examine the market in specific communities and neighborhoods before listing a home for sale or making an offer on an available property.

 Blooming for Montgomery Village home buyers.

Today, there are 167 homes for sale in Montgomery Village, in Montgomery County, Maryland.

If you exclude the short sale pre-foreclosures and the lender owned foreclosures, there are 78 active listings for consideration. These are the normal listings by home owners that are moving to other homes.

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-124623790-32

There has been a steady stream of foreclosures in the area and the current inventory includes 22 lender owned foreclosures (REO) that are available for purchase. The lender owned properties generally sell the quickest since the sellers are highly motivated. Prices are reduced until the homes are under contract. Bargain seekers usually look first a the REO inventory.

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-124623847-788

What about the warning to home buyers?  What is this about? Well, a big portion of the current inventory is made up of 78 short sale pre-foreclosures. Much of this is an artifical inventory since many of the listings will never reach settlement. Short sales provide unfair competition for the home owners that need to sell. Short sales frequently create unrealistic expectations in the minds of home buyers. Buyers should be very careful when selecting a property on which to submit an offer.

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-124623803-969

If you do submit a contract on a short sale pre-foreclosure, it is a good idea to know if the mortgage payments are being made or if the property has been scheduled for a trustee sale. We always recommend the use of a law firm to work together with the agents to monitor the progress of the transaction. Every week we see trustee sales take place on homes that are under contract. Then, all of the time and efforts are wasted.