Frederick County, MD Real Estate Market Statistics - December, 2010
The real estate statistics for the past month may be viewed by clicking on the following link: http://www.rbintel.com/statistics/frederick-county-md
During December, there were 192 closed sales and the average sold price was $252,474 with an average of 88 days on the market. The zip code reports provide a better picture of the various segments of the market activity in the county. Click on the Reports section to see the Frederick County statistics for each zip code.
Lender Owned Homes: There are 134 active listings of lender owned foreclosures in the county. Contact us for assistance with your search. http://actvra.in/Mf
Mortgage Financing: It is an ideal time to obtain funds to purchase a residence or investment property. Interest rates are still very low. Pre-approval for financing is the first step in the home purchase process. Buyers, including investors, need to have a lender letter in hand when they submit an offer on a property. Buyers should be prepared to fully document their income and obligations. Buyers are finding it more difficult to qualify for mortgage financing and the trend is to the use of FHA financing which has a minimum cash requirement of 3.5%. FHA Streamlined 203(k) financing can include home improvements to $35,000. The FHA loan limit for Frederick County is $729,750 and the maximum for FHA reverse mortgages is $625,500. Ask us for a referral if you do not have an existing relationship with a mortgage lender.
Please contact us with your questions on the residential real estate market. Your referrals of friends and family will always be appreciated.
The colors of winter in Maryland. Life is good!
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