distressed: 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)

distressed: 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)

distressed: 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)

distressed: 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)

distressed: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 02/23/12 - 02/23/12 04:33 AM
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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)

distressed: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 02/09/12 - 02/09/12 12:04 PM
Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 02/09/12
 
The Montgomery County Distressed Market
Please Note:  Under the Governor’s proposed Budget Reconciliation and Financing Act of 2012 (BRFA, HB 87/SB 152), Maryland would be the first state to scale back the most important tax benefit that homeowners receive, the mortgage interest deduction – this is NOT an honor MARYLANDERS want!  URGE your legislators to OPPOSE the Governor’s BRFA Bill.
Of the 2328 homes currently available for sale in Montgomery County, 52(2.2%) are  foreclosures while 441 (18.9%) are potential short sales.  The number of available foreclosures now available in Montgomery … (0 comments)

distressed: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 02/02/12 - 02/02/12 06:39 AM
Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 02/02/12  
The Montgomery County Distressed Market  
It’s time to get off the fence and step into home ownership or diversify your retirement portfolio. If you’ve been considering buying your first home or moving up to a larger home or buying an investment property, conditions have once again turned in your favor. It’s a great time to start acquiring real estate with low interest rates and banks motivated to move homes off of their books. There are great opportunities available. I recently received approval on a short sale in which the … (0 comments)

distressed: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 01/19/12 - 01/19/12 03:02 AM
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The Montgomery County Distressed Market Despite media coverage that financing is scarce and difficult to obtain, the reality is that lenders are willing and able to lend. One caveat is that the buyer must actually have the resources for a down payment and demonstrate they can make the mortgage payments. In the residential market, financing for owner occupied homes is available without mortgage insurance with as little as 5% down. FHA is still lending with 3.5% down but buyers must pay the upfront and monthly mortgage premiums. In rural areas, … (0 comments)

distressed: 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)

 
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

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