Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 12/01/11

**Due to server outage last week, many clients did not receive last week’s update and I will repeat some of that information accordingly.  I apologize for any inconvenience.

With the holidays upon us, there’s no better time to say Thank You to those who have helped me grow my business over the years. Without your trust, referrals and support, I would not be as successful as I am. For that, I thank you all.

Whether it has been assisting with first-time home-buyers, avid investors, or simply providing advice, it has been my privilege to get to know you and your families.  If there’s anything you, your family or friends are in need of, please let me know. If I can’t help, I will try to find someone who can.

IMPORTANT INFORMATION FOR ALL LANDLORDS

The Maryland Court of Appeals has declared the immunity provisions of the Reduction of Lead Risk in Housing Act unconstitutional. For more information, please visit: http://www.mdrealtor.org/LegalAffairs/LegalAffairsNews/ctl/ArticleView/mid/1007/articleId/496

The Montgomery County Distressed Market

Of the 2811 homes currently available for sale in Montgomery County, 79(2.8%) are REO or foreclosures while 524(18.6%) are potential short sales.  The number of foreclosures available is very low and lenders are continuing to receive multiple offers on many and selling them for above list price. Short sales continue to be an active segment for buyers, especially for those who can allow the lender(s) sufficient time to complete the process, usually 3-6 months.  

Foreclosures:

There are 36 lender owned foreclosures (REO) for sale at or BELOW $250,000.  Click on the listing number to see the full property description. Sort by column headers.

Click the following URL to see the listings:

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=2133467XBN8H&p=DE-154426940-97

There are 29 lender owned foreclosures (REO) for sale between $250,000 and $500,000.  Click on the listing number to see the full property description. Sort by column headers.

Click the following URL to see the listings:

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=2133467XBN8H&p=DE-154426954-554

There are 14 lender owned foreclosures (REO) for sale at or Above $500,000.

Click the following URL to see the listings:

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=2133467XBN8H&p=DE-154426963-628

Short Sale Pre-foreclosures:

There are 240 short sale listings at and below $250,000.

Click the following URL to see the listings:

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=2133467XBN8H&p=DE-154427091-700

There are 229 short sale listings for sale between $250,000 and $500,000.  Click on the listing number to see the full property description. Sort by column headers.

Click the following URL to see the listings:

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=2133467XBN8H&p=DE-154426997-273

There are 60 short sale listings for sale at or above $500,000

Click the following URL to see the listings:

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=2133467XBN8H&p=DE-154427011-960

Home buyers need to be very selective when submitting offers on short sale listings to avoid the disappointment of a canceled sale after much time has past.

Tip of the week:

I had lunch this week with Grant DiGioia, co-owner of Patriot Shredding in Rockville. Patriot Shredding can help protect you, your employees, and your clients against the ever-growing threat of identity theft. Patriot Shredding offers mobile document destruction, electronics recycling, paper shredding, and hard drive destruction. The company also donates 5% of all sales to the Armed Forces Foundation. Contact Grant at www.patriotshredding.com or 240-206-6030. This is a great way to clear out your home of old tax or business documents.

Montgomery County Sale Statistics

The real estate market statistics for the past month may be viewed by clicking on the following link: http://www.rbintel.com/statistics/montgomery-county-md

If you would like to receive information on neighboring counties, please email me directly. Additionally, custom searches can be created based upon specific criteria as well.

Free Credit Report:  You have the right to get a FREE COPY of your credit file disclosure, commonly called a credit report, once every 12 months, from each of the nationwide consumer credit reporting companies – EQUIFAX, EXPERIAN and TRANSUNION. For instant access to your FREE CREDIT REPORT, visit www.annualcreditreport.com or call 877-322-8228.

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

Your Real Estate Professional,

Craig Rosenfeld

Remax Realty Group
Residential Specialist
crosenfeld@remax.net
www.craigrosenfeld.com
301-921-4519 (Direct)
301-529-0053 (cell)
888-247-5335(Toll Free)
301-258-7757(Office)