foreclosures: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 06/21/12
- 06/21/12 02:32 AM
<!--StartFragment--> 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)
foreclosures: 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)
foreclosures: 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)
foreclosures: 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)
foreclosures: 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)
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)
foreclosures: 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. <!--[if !supportEmptyParas]--> <!--[endif]--> 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)
foreclosures: 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)
foreclosures: 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)
foreclosures: 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)
foreclosures: 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)
foreclosures: 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)
foreclosures: 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)
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)
foreclosures: 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)
foreclosures: 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)
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)
foreclosures: 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)
foreclosures: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 01/26/12
- 01/26/12 02:56 AM
Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 01/26/12 The Montgomery County Distressed Market According to 2011 MRIS statistics, 9473 listings were sold in Montgomery County, MD. Of these, 974 (10.3%) were REO’s and 1377 (14.1%) were potential short sales. The REO properties had an average sold price of $234,345 with an average of 68 days on market. Short sale listings had an average sold price of $265,007 with an average of 94 days on market. What is interesting is that the REO market represented 10.3% of the sales while representing around 4-5% of the available properties. Short … (0 comments)
foreclosures: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 01/19/12
- 01/19/12 03:02 AM
<!--StartFragment--> Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 01/19/12 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)
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