Bank owned homes in Ocean Pines, Maryland are on the decline. In the last 12 months there were 29 bank owned home sales and as of Feb 20, 2012 there are only 3 homes identified as bank owned according to the local multiple listing service. On the other hand there are currently 19 Short Sale properties on the market. These Short Sale properties are sometimes know as pre-foreclosures since the sellers owe more than their home is worth and if their lender doesn't accept an offer on them, they could end up in foreclosure and become bank owned properties when the lender takes back the home.
When you want to know when a home is going into foreclosure there are many places to look and often they charge a fee to sign up for their notification service. If you want to save time, you should contact a REALTOR® that works in the area you are interested in. A professional REALTOR® has systems in place to stay in contact with their clients looking for properties.
If you are looking for a bank owned home in the Ocean Pines, Maryland area, check out my listing at 16 Gatehouse Trail, Ocean Pines, MD. This is a 4 bedroom, 2.5 bath traditional style home built in 2007. It has 2252 sq. ft of living space and a 2-car garage.
The first floor has hardwood floors, a large great room with spacious kitchen and a screened porch. There is a two sided fire place between the living room and dining area that makes entertaining a breeze.
The bank has touched up the paint, installed appliances and lighting. They even cleaned the home and refreshed the carpets so it is like a brand new home.
Check out the video tour for more photos.
Comments(0)