Washington 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/washington-county-md
During December, there were 84 closed sales and the average sold price was $145,784 with an average of 156 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 Washington County statistics for each zip code.
Lender Owned Homes: There are 115 active listings of lender owned foreclosures in the county: http://actvra.in/PP Please contact us for assistance with your search.
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. The FHA mortgage loan limit for Washington County, MD is $377,500. Note that this is much lower than the $729,750 limit for Frederick County and Montgomery County. The minimum cash requirement for FHA financing is 3.5%. FHA Streamlined 203(k) financing allows the inclusion of up to $35,000 in home improvements in the mortgage amount. 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 members will always be appreciated.
The colors of winter in Maryland. Life is good!
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