Prince George's County, Maryland Weekly Real Estate Report & Foreclosures Update

Prince George's County, Maryland Weekly Real Estate Report & Foreclosures Update  

Mortgage Financing:  Prospective purchasers need to be aware of the changes that have take place and understand the current requirements for obtaining mortgage financing. All should anticipate fully documented mortgage applications that may be considered to be intrusive. Different mortgage products are offered by different lenders. Do not expect to find one stop financing. Tell us about your very specific needs and we will try to match you with an appropriate loan officer.

Currently Available Mortgage Products For Special Needs:  

5% down payment conventional loans to $417,000 with no mortgage insurance. Compare with FHA.

10% down payment conventional loans above $417,000 with no mortgage insurance.

80/10/10 conventional financing to allow a purchase with 10% down payment.

$7,500 grants for first time home buyers.

100% USDA financing with no monthly mortgage insurance

FHA 203(k) financing for fix-up properties. This allows buyers to include the cost of repairs or renovation in the first mortgage and to do the work before moving into the home.

Investor financing for those that wish to expand their rental portfolios.

Reverse mortgages for age 62+ seniors. No income or credit requirements and no monthly mortgage payments for life.

We welcome special product information from mortgage lenders. If you wish to provide guest blogs, please email them to us.

Lender Owned Homes:  The active listings of homes for sale in Prince George's County include 991 lender owned foreclosures plus hundreds of pre-foreclosure short sale listings.

There are 316 homes for sale that are priced at $100,000 and BELOW included in the inventory of lender owned foreclosures.  These are REO homes for sale.  Click on the listing number for full details on each property.

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-133417397-487

There are 268 homes for sale that are priced from $100,000 to $150,000 included in the inventory of lender owned foreclosures (REO).  Click on the listing number for full details on each property.

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-133417430-682

There are 219 homes for sale that are priced from $150,000 to $200,000 included in the inventory of lender owned foreclosures (REO).  Click on the listing number for full details on each property.

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-133417495-647

There are 188 homes for sale that are priced at $200,000 and ABOVE included in the inventory of lender owned foreclosures.  These are REO homes for sale.  Click on the listing number for full details on each property.

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-133417524-69

The real estate market statistics for the previous month may be viewed by clicking on the following link.  http://www.rbintel.com/statistics/prince-georges-county-md  The figures are revised on the tenth of each month.

With the large number of available lender owned foreclosures, you may find it difficult to identify the properties that may best meet your needs. Please ask us for any assistance you may need. We will email information on the properties in your price range.

All home buyers that plan to use mortgage financing should obtain pre-approval for financing as the first step in the purchase process. Investors should also follow this advice since investor financing is still difficult for many because of the lender limits on the number of financed properties.  Please ask us for a referral to a loan officer if you do not have an existing relationship with a mortgage lender.

All of the active listings of homes for sale in Prince George's County and other areas in Maryland may be viewed on Homes Prospector at www.roykelley.com

Visit www.roykelley.net to view scheduled trustee sales and our real estate blogs on ActiveRain.

Please contact us with your real estate questions. Your referrals of friends and family members will always be appreciated.  

 Life is good in Maryland!