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Frederick County, MD Weekly Real Estate Report: Foreclosures & Short Sales Update
Frederick County, MD Weekly Real Estate Report: Foreclosures & Short Sales Update  
The spring weather should encourage prospective home buyers to get to see what is available in the area. Timing may be critical in this unique market. Home prices are the lowest in many years. Mortgage interest rates are very low. Low down payment loans are available and qualified first time buyers have available grants to $7,500 to assist with the cash requirements of a home purchase.  
All of these positive dynamics are expected to change in the coming months. Lenders are recommending early lock-ins on rates because of the upward pressure on interest rates. The maximum size of FHA loans is expected to go down and the down payment requirements are expected to go up. Conventional mortgage loan fees are increasing. This spring may prove to be the best time we will see in our lifetimes for a home purchase if financing is going to be used.  
Home owners and prospective purchasers want to know about the impact of foreclosures and short sale pre-foreclosures when considering the marketability in specific neighborhoods. The number of active listings of lender owned foreclosures does not have as much negative ... more

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