Montgomery County, Maryland Homes For Sale 10/20/11
There are 3,386 active listings of homes for sale in Montgomery County, Maryland. 88 (3%) of the active listings are lender owned foreclosures (REO). 585 (17%) of the homes for sale are short sale pre-foreclosures.
80% of the homes for sale are regular listings by their owners. When home buyers and home sellers look at the real estate market they should understand which category applies to the properties they are considering.
The normal listings of homes for sale by their owners tend to be in the best condition. Many of the lender owned foreclosures and short sales have deferred maintenance, repair or renovation needs. The REO properties are normally vacant and the lender owners are highly motivated to sell them quickly. So, most buyers will first look at the foreclosure inventory to see if anything is available that will meet their needs.
The short sale listings tend to distort the market since many of them have unrealistic pricing or sellers that are not willing to provide the documentation that is required by the secured lenders that must approve the sales. The end result is that a high percentage of the short sale listings never reach settlement.
We are always willing to advise prospective sellers and purchasers as they go through the home sale or home purchase process.
The following link provides access to the details on available lender owned foreclosures. Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?ID=44030414961
We advise all prospective home purchasers that plan to use mortgage financing to obtain pre-approval for their financing. Home buyers should have a pre-approval letter in hand and fully understand which mortgage programs will best meet their objectives.
Life is good in Montgomery County
Dahlia Show at Brookside Gardens
Roy and Dolores Kelley Photographs
Comments(6)