buyers: Montgomery County, Maryland Foreclosures & Short Sales Rev. 07/12/12 - 07/12/12 05:21 AM
Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 07/12/12  
The Montgomery County Distressed Market  
The Montgomery County Market continues to see a decline in available inventory. Year over year, the number of active properties in June was down 25.38% while the overall total “Sold Dollar Volume” was up 4.16% as was the average sold price, up 3.47%.
 
Year to date, the number of homes sold remains up over the first half of 2011 as does the average sales price, up 2.44% with 4,891 properties sold in Montgomery County over the first half of 2012.  These positive indicators … (0 comments)

buyers: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 06/21/12 - 06/21/12 02:32 AM
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Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 06/21/12
The Montgomery County Distressed Market Of the 2657 homes currently available for sale in Montgomery County, 28(1%) are foreclosures while 284 (10.7%) are potential short sales.  You may view all available homes at www.craigrosenfeld.com
Do you money sitting in your IRA’s and wish you could use it to buy real estate?  You may be able to through a self-directed IRA. If you’re interested, please let me know and I will put you in contact with John Bowens at Equity Trust Company for more information.
Investors loans are still available for … (0 comments)

buyers: A New Way to Invest in Real Estate! - 06/11/12 12:56 AM
<!--StartFragment--> With real estate prices down, many homeowners wish they could take advantage of the low prices to diversify their retirement portfolios but don't have the liquid assets to do so.  Great news if you have money in your 401K or other retirement plans.  Equity Trust Company, A leader in Self-Directed IRA's put on a seminar in our office last week about acquiring investment properties through a self-directed IRA. There are significant IRS restrictions but this could be an excellent opportunity to invest in Real Estate.
  Here's the deal. Once you have opened a Self-Directed IRA, you will identify the … (0 comments)

buyers: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 05/20/12 - 05/20/12 03:42 AM
Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 05/20/12  
The Montgomery County Distressed Market  
With roughly only 12% of the active listings in Montgomery County listed as distressed, perspective home buyers should concentrate on motivated sellers. Some regular resale properties may be better opportunities than a distressed property.
 
Of the 2780 homes currently available for sale in Montgomery County, 29(1.04%) are foreclosures while 304 (10.9%) are potential short sales.  You may view all available homes at www.craigrosenfeld.com
 
 
Foreclosures:
 
There are currently only 29 lender owned properties (REO) for sale in MoCo.
 
Click the … (1 comments)

buyers: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 05/11/12 - 05/11/12 03:45 AM
Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 05/11/12  
The Montgomery County Distressed Market  
With roughly only 12% of the active listings in Montgomery County listed as distressed, perspective home buyers should concentrate on motivated sellers. Some regular resale properties may be better opportunities than a distressed property.

Coming soon- I have a listing at 11209 Blackhorse Court in Potomac. This is a home with opportunity needing a complete update but will be available for only 625K and it’s an estate sale. Situated on a quiet cul-de-sac with a great lot.  An estate sale will be conducted … (0 comments)

buyers: Should Distressed Property Training be Mandatory? - 05/09/12 03:26 AM
I recently listed a ahort sale and neither of the two offers received were properly written. Whether the agent thought I could receive lender approval in ten days (lol) or not understanding that distressed properties generally convey in as-is condition, I see rampant issues by both buyer's agents and listing agents who put sellers under contract to multiple buyers because they don't understand basic contract law or that lender approval is simply a contingency to a contract.
I am CDPE certified but have issues with the designation as an agent that has never closed a single distressed property can deem themselves … (2 comments)

buyers: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 05/05/12 - 05/05/12 01:56 AM
Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 05/05/12
 
The Montgomery County Distressed Market
Of the 2797 homes currently available for sale in Montgomery County, 33(1.2%) are foreclosures while 306 (10.9%) are potential short sales.  The number of available foreclosures now available in Montgomery County is the lowest in some time.  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.   We are seeing multiple offers on many properties, including regular resale properties that are in good condition and priced right.  To … (0 comments)

buyers: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 04/19/12 - 04/19/12 04:39 AM
Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 04/19/12 <!--[if !supportEmptyParas]--> <!--[endif]-->
The Montgomery County Distressed Market <!--[if !supportEmptyParas]--> <!--[endif]-->
If you have been reluctant to put forth an offer on a short sale due to the time involved, Great News! Beginning June 15, distressed homeowners whose loans are backed by Fannie Mae and Freddie Mac should expect to receive a decision on a short sale offer within 30-60 days.  Hopefully, this will gain momentum with non- Fannie & Freddie loans as well.
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The rate of home foreclosure filings in Montgomery County last month plunged 39.9 percent from February and 44.8 percent from March … (0 comments)

buyers: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 04/05/12 - 04/05/12 01:59 AM
Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 04/05/12  
The Montgomery County Distressed Market  
Free trees are still available to Pepco residential customers through the Energy Saving Trees Program. The program, a partnership with Pepco and the Arbor Day Foundation, is providing free trees to Pepco residential customers in Washington D.C., and Montgomery and Prince George's counties in Maryland. The program aims to help customers conserve energy through strategic tree planting. To reserve your free trees, go to www.arborday.org/pepcotrees 
 
 
Of the 2565 homes currently available for sale in Montgomery County, 41(1.60%) are foreclosures while 316 (12.3%) are potential short sales.  … (0 comments)

buyers: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 03/29/12 - 03/29/12 03:29 AM
Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 03/29/12  
The Montgomery County Distressed Market  
I hope you enjoy receiving this weekly update. Please let me know how I may improve it to better serve you. If you have a friend, colleague of neighbor that is considering a move, please consider referring them to me. Your personal referrals are greatly appreciated and allow me to provide the service I enjoy.
 
The market is opportunistic and provides opportunities build an investment portfolio of real estate and/or acquire a new primary residence. Investor financing is available in the mid 4% … (0 comments)

buyers: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 03/22/12 - 03/22/12 01:33 AM
Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 03/22/12  
The Montgomery County Distressed Market  
The market is opportunistic and provides opportunities build an investment portfolio of real estate and/or acquire a new primary residence. Investor financing is available in the mid 4% range with a 20% DP. Additionally, investors can seek construction rehab loans based on the rehab properties future value. Second trust loans are available on primary residences affording 95% financing and allowing buyers to avoid the pending increase in the FHA rates. Ready to make the move, just let me know.
 
Of the 2508 homes … (0 comments)

buyers: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 03/15/12 - 03/15/12 02:42 AM
Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 03/15/12  
The Montgomery County Distressed Market  
The Montgomery County market is looking healthier but the potential shadow inventory continues to loom over the market.  As of today, there are only 380 active distressed properties in Montgomery County as compared to the 1342 currently available in Prince George’s County. The market is opportunistic and provides opportunities build an investment portfolio of real estate and/or acquire a new primary residence. Second trust loans are available on primary residences affording 95% financing and allowing buyers to avoid the pending increase in the FHA … (0 comments)

buyers: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 03/09/12 - 03/09/12 01:14 AM
Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 03/09/12  
The Montgomery County Distressed Market  
Just a reminder to spring forward an hour this Sunday morning at 2am. I had a great week of education at the RE/MAX convention and look forward to sharing with you.
 
Do you have money under performing in your 401K? Did you know that you might be able to buy a property through your 401K? While at the convention, I met with representatives at Equity Trust Company. While I have known about this opportunity, I have now forged a relationship to provide my … (0 comments)

buyers: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 03/01/12 - 03/01/12 01:38 AM
Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 03/01/12  
The Montgomery County Distressed Market  
Please note: As I will be attending the RE/MAX convention next week learning how I can better assist you, next week’s report will be distributed on Friday March 9th.
 
MARYLAND HOMEOWNERS- The Governor is looking to reduce our Mortgage Interest Deduction that we all hold vital. Take five minutes out of your day to read about this very important issue, PLEASE! More tax burdens on real estate and homeowners will only further hurt Maryland's economic recovery. Please visit http://www.savemdmid.com/. To find out … (0 comments)

buyers: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 02/23/12 - 02/23/12 04:33 AM
<!--StartFragment--> Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 02/23/12
 
The Montgomery County Distressed Market MARYLAND HOMEOWNERS- The Governor is looking to reduce our Mortgage Interest Deduction that we all hold vital. Take five minutes out of your day to read about this very important issue, PLEASE! More tax burdens on real estate and homeowners will only further hurt Maryland's economic recovery. Please visit http://www.savemdmid.com/.
Successful short sales require a fair and reasonable offer. Lowball offers only stand to be rejected by the seller or the countered by the lender. Seller’s understand that failure to close mean they are … (0 comments)

buyers: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 02/16/12 - 02/16/12 08:09 AM
Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 02/16/12  
The Montgomery County Distressed Market  
If you or someone you know are planning on buying using a FHA loan, please note that the new budget calls for an increase in the upfront FHA funding fee. This increase will range between .25- .50% depending upon the purchase price. We don’t have an effective date yet but it’s likely these changes will take affect in the Spring. On a 200K purchase, this would mean an additional $500 in closing expenses. Now is the time to buy before the increased rates take … (0 comments)

buyers: Short Sales- Pursue or Run? - 02/13/12 02:47 PM
One of the questions I am most often asked is about the short sale process and whether  my buyer clients should pursue them .  Short sales continue to possess a very negative connotation but they remain very opportunistic.  Here are a few points to consider when consider a short sale:
·         Can you wait the 3-6 months for lender(s) approval?  What will happen if you’re at square one if the deal doesn’t go through?  
·         Is the seller motivated or just trying to delay the foreclosure to have a place to live for free? An unmotivated seller will spell doom for … (1 comments)

buyers: Bully Banks? - 05/25/11 03:40 AM
Last week, I wrote an offer on Wells Fargo REO for a first-time homebuyer. Friday, the bank countered stating that "Buyer will not ask or a price reduction based upon the home inspection" but left the price and other terms as presented. We quickly accepted. Yesterday, four days after we accepted the bank's counter, the listing agent emails me that he needs our highest and best as has now received two additional offers in which he presented to the seller. While the contract had not been formally ratified because of the snails pace in which many banks move, we did have … (2 comments)

buyers: Advertising your short sale listing approved but is it? - 12/22/10 12:42 PM
I just wrote an offer for a client on an "approved" short sale. When I contacted the agent, as I expected, the short sale had been previously approved but was no longer valid. Every day I look at short sale listings advertised as "approved" and wonder how much liability there could be to listing agents and I expect an increase in ethics complaints accordingly in the coming year. While there are a few bank "pre-approved"short sales under given terms, most are not. So, here's my question....Is it unethical for a listing agent to advertise a property as "approved" when it still … (1 comments)

buyers: Show me the Homeowners Docs...PLEASE!! - 10/18/10 04:33 AM
In Maryland, state law provides that the sellers must provide the buyers with either condo or homeowner association documents with a right of review.  With the ever increasing number of short sales and REO's, I am noticing an increasing number of listing agents stipulating in the remarks section that the buyers and or buyer's agents will be responsible for obtaining said documents. First of all, no! Your words don't rewrite the Maryland law. Failure to provide them allows the buyer the opportunity to walk away from settlement up to the signing of the last doc. If you, as a listing agent, are to … (4 comments)

 
Craig Rosenfeld (RE/MAX Realty Group) Rainmaker large

Craig Rosenfeld

Gaithersburg, MD

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RE/MAX Realty Group

Address: 6 Montgomery Village Avenue, Suite 200, Gaithersburg, MD, 20879

Office: 301(258) 775-7519

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