foreclosures: Post Foreclosure and Short Sale Home Buyers Get A Break From FHA - 08/20/13 09:08 PM
Post Foreclosure and Short Sale Home Buyers Get A Break From FHA
 
Before last week, prospective home buyers that have gone through a foreclosure or short sale generally had to wait at least three years before they could get an FHA loan to purchase another home. FHA has reduced the minimum waiting period to one year for borrowers that meet certain requirements.
In order to qualify for new FHA financing, home buyers must demonstrate that the foreclosure or short sale was caused by unemployment or “economic event” that caused a substantial reduction in their household income.
Prospective home buyers … (16 comments)

foreclosures: Second Wave of Foreclosures in Maryland - 08/12/13 01:21 AM
Second Wave of Foreclosures in Maryland
 
The long expected second wave of real estate foreclosures has begun to arrive in Maryland.  Many lenders were forced to delay foreclosure proceedings since 2010 while documentation errors were corrected. That backlog is now increasing the foreclosure filings. Maryland is one of the states that require court approval for foreclosures and the process led to long delays.
Even though mortgage delinquency rates are still higher than normal in Maryland, it appears that the surge in foreclosures volume relates more to long delayed actions than to current filings. Although the markets in some communities are … (33 comments)

foreclosures: Maryland homeowners shocked by deficiency judgments and collections - 06/17/13 08:20 PM
Maryland homeowners shocked by deficiency judgments and collections
 
The Washington Post reports that “Years after foreclosures, old debt haunts homeowners….Lenders are filing new motions in old foreclosure lawsuits and hiring debt collectors to pursue leftover debt, plus court fees, attorney’s fees and tens of thousands in interest that had been accruing for years.” – Kimbriell Kelly
After going through foreclosure, many families assume that the mortgage debt is satisfied as they focus on restoring their financial health. In Maryland, it appears that debt collectors have up to 36 years to pursue homeowners for amounts owed on deficiency judgments.
Lenders have … (12 comments)

foreclosures: Homes For Sale In Montgomery Village, Maryland - 07/02/12 09:58 PM
Homes For Sale In Montgomery Village, Maryland
 
There are 2,567 homes for sale in Montgomery County, Maryland.  Included in that inventory of active listings on the multiple listing service (MRIS) are 74 homes in the community of Montgomery Village.  17 (22.97%) of the Montgomery Village listings are short sale pre-foreclosures and 3 (4%) are lender owned foreclosures (REO).
Montgomery Village is a preferred location for home buyers that want convenience to public transportation, shopping and public schools.  The convenience factor has also made the area a favorite for real estate investors that are building their rental portfolios.
Our office, RE/MAX Realty Group, is … (6 comments)

foreclosures: Foreclosures For Sale In Prince George's County, Maryland - 07/01/12 10:41 PM
Foreclosures For Sale In Prince George's County, Maryland
  News reports continue to describe the real estate market in Prince George's County, MD as one of the most troubled areas in the metropolitan Washington, DC area. There are 2,156 homes actively listed for sale on MRIS, the regional multiple listing service.  653 (30.28%) of the active listings are short sale pre-foreclosures.  183 (8.48%) of the available properties are lender owned foreclosures (REO).
These figures are striking when compared with the nearby Montgomery County market which has 2,567 homes for sale with 255 (9.93%) short sale pre-foreclosures and 30 (1.17%) lender owned foreclosures (REO).
(8 comments)

foreclosures: Foreclosures For Sale In Montgomery County, Maryland - 07/01/12 10:11 AM
Foreclosures For Sale In Montgomery County, Maryland
 
Everybody loves bargains and during the last several years, the inventory of lender owned foreclosures in Montgomery County, Maryland has provided many bargain opportunities for home buyers and real estate investors.
However, the inventory has changed and it is a good time to take a look at what is currently available.  Today, there are 2,567 homes for sale that are actively listed on the multiple listing service, MRIS.  255 (9.93%) of the homes for sale are short sale pre-foreclosures.  30 (1.17%) of the homes for sale are lender owned foreclosures.
The first observation … (15 comments)

foreclosures: 196 Homes for Sale, 9 Foreclosures, in Germantown, Maryland - 02/15/12 11:08 PM
196 Homes for Sale, 9 Foreclosures, in Germantown, Maryland   There are 196 homes listed for sale in Germantown, Maryland.  These figures are based on today's multiple listing service (MRIS) data.  9 (4.59%) are lender owned foreclosures (REO).  75 (38.26) are short sale pre-foreclosures.  The home prices range from $2,995,000 down to $83,000.   A sad fact of life is that a large percentage of the short sale offerings will never reach settlement.  Some will fail because the unrealistically low prices will attract offers that are below the levels that will be accepted by the secured lenders that must provide the … (10 comments)

foreclosures: Frederick County, MD Foreclosures & Short Sales Update - Rev. 8/23/11 - 08/23/11 04:51 AM
Frederick County, MD Foreclosures & Short Sales Update - Rev. 8/23/11 
There are 1,273 active listings of homes for sale in Frederick County, MD.  43 (3%) of the properties are lender owned foreclosures and 262 (21%) are short sale pre-foreclosures.   Mortgage interest rates are very low and there is a good selection of properties at very attractive prices. Those that plan to buy a home within the next couple of years might find that this summer is be best time for the purchase.   Special Notice:  If you plan a 2011 purchase in Frederick County, please allow us to set … (3 comments)

foreclosures: Washington County, MD Foreclosures & Short Sales Update Rev. 8/16/11 - 08/16/11 12:54 PM
Washington County, MD Foreclosures & Short Sales Update Rev. 8/16/11
There are 868 homes for sale in Washington County, MD.  36 (4%) of the active listings are lender owned foreclosures and 122 (14%) are short sale pre-foreclosure offerings.   Loan Limit Reduction:  The "temporary" mortgage loan limits that are now in place will expire on September 30, 2011.  All loans using the temporary limits must settle on or before September 30th.     RE/MAX Realty Group Preferred Lender:  Joe Salisbury at Presidential Bank Mortgage, joe@presidential.com, 301-590-8911 x 209 is the Preferred Lender for our office.   Lender Owned Homes:      … (3 comments)

foreclosures: Frederick County, MD Foreclosures & Short Sales Update - Rev. 8/16/11 - 08/16/11 03:19 AM
Frederick County, MD Foreclosures & Short Sales Update - Rev. 8/16/11 
There are 1,259 active listings of homes for sale in Frederick County, MD.  41 (3%) of the properties are lender owned foreclosures and 250 (20%) are short sale pre-foreclosures.   Mortgage interest rates are very low and there is a good selection of properties at very attractive prices. Those that plan to buy a home within the next couple of years might find that this summer is be best time for the purchase.   Loan Limit Reduction:  The "temporary" mortgage loan limits that are now in place will expire on … (7 comments)

foreclosures: Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 8/15/11 - 08/15/11 04:32 AM
Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 8/15/11
92 (3%) of the 3,356 homes for sale in Montgomery County, MD are REO properties while 566 (17%) are short sale pre-foreclosures.
Home buyers are facing multiple contract competition on some of the well price homes in preferred locations.  Real estate investors are competing with first time home buyers as they build their rental portfolios while lender owned foreclosures are available at attractive prices.
The Housing Opportunities Commission of Montgomery County (HOC) offers a mortgage interest rate of 4.5% with zero points for a 30 year fixed rate FHA loan.  HOC … (3 comments)

foreclosures: Prince George's County, Maryland Foreclosures Update Rev. 8/10/11 - 08/10/11 04:59 AM
Prince George's County, Maryland Foreclosures Update  Rev. 8/10/11 
There are 4,273 active listings of homes for sale in Prince George's County MD.  502 (12%) of the homes for sale are lender owned foreclosures.  1,652 (39%) are short sale pre-foreclosures.  51% of the available properties are lender owned foreclosures or short sale pre-foreclosures.   Mortgage Financing:  Prospective purchasers need to be aware of the changes that have take place and understand the current requirements for obtaining mortgage financing.  All should anticipate fully documented mortgage applications that may be considered to be intrusive. Different mortgage products are offered by different lenders.  Do not … (2 comments)

foreclosures: Washington County, MD Foreclosures & Short Sales Update Rev. 8/9/11 - 08/09/11 03:07 AM
Washington County, MD Foreclosures & Short Sales Update Rev. 8/9/11
There are 881 homes for sale in Washington County, MD.  38 (4%) of the active listings are lender owned foreclosures and 124 (14%) are short sale pre-foreclosure offerings.   Lender Owned Homes:      Click the following URL to see the listings:http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-146531246-853   Short Sale Pre-foreclosures:      Click the following URL to see the listings:http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-146531262-600   Washington County, Maryland Real Estate Market Statistics:  During June, 2011, there were 134 closed sales and the average sold price was $152,279, down 13.04% from last year, with an average of 136 days on … (7 comments)

foreclosures: Frederick County, MD Foreclosures & Short Sales Update - Rev. 8/9/11 - 08/09/11 02:51 AM
Frederick County, MD Foreclosures & Short Sales Update - Rev. 8/9/11
  There are 1,245 active listings of homes for sale in Frederick County, MD.  40 (3%) of the properties are lender owned foreclosures and 252 (20%) are short sale pre-foreclosures.   Mortgage interest rates are very low and there is a good selection of properties at very attractive prices. Those that plan to buy a home within the next couple of years might find that this summer is be best time for the purchase.   Lender Owned Homes:     Click the following URL to see the listings:http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-146531196-482   The … (2 comments)

foreclosures: Homes For Sale In Germantown, Maryland 8/4/11 - 08/04/11 08:20 AM
Homes For Sale In Germantown, Maryland  8/4/11
Today, there are 249 homes for sale in Germantown, Maryland.  84 (34%) of the active listings are short sale pre-foreclosures and 17 (7%) are lender owned foreclosures (REO).  148 (59%) are listings that are not designated as short sales or foreclosures.  In summary, 41% of the available homes are either short sales or foreclosures.
Active listings not designated as short sales or foreclosures:
41 homes are priced at $250,000 or less
Click the following URL to see the listings:http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-146204200-37
108 homes are priced at $250,000 or more.
Click the following URL to see the … (7 comments)

foreclosures: Prince George's County, Maryland Foreclosures Update 8/4/11 - 08/04/11 03:48 AM
Prince George's County, Maryland Foreclosures Update  8/4/11
There are 4,274 active listings of homes for sale in Prince George's County MD.  524 (12%) of the homes for sale are lender owned foreclosures.  1,623 (38%) are short sale pre-foreclosures.  50% of the available properties are lender owned foreclosures or short sale pre-foreclosures.   Mortgage Financing:  Prospective purchasers need to be aware of the changes that have take place and understand the current requirements for obtaining mortgage financing.  All should anticipate fully documented mortgage applications that may be considered to be intrusive. Different mortgage products are offered by different lenders.  Do not expect … (4 comments)

foreclosures: Washington County, MD Foreclosures & Short Sales Update 8/3/11 - 08/03/11 07:48 AM
Washington County, MD Foreclosures & Short Sales Update 8/3/11 
There are 893 homes for sale in Washington County, MD.  45 (5%) of the active listings are lender owned foreclosures and 122 (14%) are short sale pre-foreclosure offerings.   Lender Owned Homes:      Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-146118716-171   Short Sale Pre-foreclosures:      Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-146118900-895   Washington County, Maryland Real Estate Market Statistics:  During June, 2011, there were 134 closed sales and the average sold price was $152,279, down 13.04% from last year, with an average of 136 days on the … (4 comments)

foreclosures: Gaithersburg & Montgomery Village, MD Homes For Sale For $250,000 Or Less - 118 Properties - 07/29/11 04:09 AM
Gaithersburg & Montgomery Village, MD  Homes For Sale For $250,000 Or Less - 118 Properties
Active Listings, Short Sales, REO Listings Of Lender Owned Foreclosures   There are 118 homes for sale in Gaithersburg and Montgomery Village, MD.  60 (51%) are short sale pre-foreclosure listings and 12 (10%) are lender owned foreclosures (REO).  61% of the available homes are either foreclosures or pre-foreclosures.   Investor Alert - Please contact us if you need a report like this for another zip code.   What is available in homes for sale for $250,000 or less?   This is a question that is being … (10 comments)

foreclosures: Frederick County, Maryland Foreclosure Sales (Rev. 7/27/11) - 07/27/11 04:49 AM
Frederick County, Maryland Foreclosure Sales (Rev. 7/27/11)
In Maryland, foreclosure auctions are called trustee sales.  These sales are held at the county court house entrance and are open to the public and all qualified bidders.  In Frederick County, a few major real estate auction companies conduct the majority of the sales.  Some trustees handle the sales theselves.  All of the sales are advertised for one time a week for three weeks before the scheduled auction.  The terms are set forth in the advertisements and trustees will answer any questions on the date of the sale.
These properties are not available for inspection and … (4 comments)

foreclosures: Washington County, MD Foreclosures & Short Sales Update - 07/11/11 06:24 AM
Washington County, MD Foreclosures & Short Sales Update
There are 897 homes for sale in Washington County, MD.  50 (6%) of the active listings are lender owned foreclosures and 119 (13%) are short sale pre-foreclosure offerings.  
Lender Owned Homes:     
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-144360174-255  
Short Sale Pre-foreclosures:     
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-144360196-965  
Washington County, Maryland Real Estate Market Statistics:  During June, 2011, there were 134 closed sales and the average sold price was $152,279, down 13.04% from last year, with an average of 136 days on the market. … (6 comments)

 


Listings

Links

Archives

RSS 2.0 Feed for this blog