MONTGOMERY COUNTY MD FORECLOSURES & SHORT SALES
There are 174 active listings of lender owned foreclosures (REO) available for purchase in Montgomery County MD Click on the listing number to see the full property description. Sort by column headers.
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-95782265-852
When searching for homes in Maryland, you will want to use Homes Prospector at www.roykelley.com This is a service of MRIS, the regional multiple listing service, and you will find the most accurate up to date information on properties that are available for purchase.
Most of the homes that are sold at trustee sale auctions at the court house entrance are purchased by the secured mortgage lenders. For many, the trustee sales provide a preview of homes that will come out as REO listings at a future date. The lenders then offer the homes for sale when they become part of the REO inventory. All of the lender owned homes are listed with area agents and are available on MRIS.
Why are buyers focusing on the REO inventory? The simple reason is that is where the purchase bargains are being found. Lenders are highly motivated sellers and they reduce the prices until the properties are under contract. This is a very active market and well priced prices attract multiple contracts.
Are bargains to be found in the inventory of short sale listings? Yes, lenders have become more liberal with short sales. Short sales do take more time and more frustrations should be anticipated. Short sale transactions require third party approval. The secured lenders must approve the contracts since the proceeds will not fully cover the amounts of the mortgage loans. These listings are also known as pre-foreclosures. Buyers should always ask about the status of mortgage payments.l
There are 253 active short sale listings priced at $250,000 and below in Montgomery County.
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-95782288-613
There are 270 active short sale listings available at $250,000 and more in Montgomery County.
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-95782301-256
All home buyers that plan to use mortgage financing should obtain pre-approval for financing as the first step in the purchase process. Ask us for a referral if you do not have an existing relationship with a mortgage lender.
Do you qualify for the new tax credit? The Home Buyer Tax Credit now includes current home owners as well as first time buyers. This link provides the highlights of the program: http://www.federalhousingtaxcredit.com/glance.php
New Home Buyer Tax Credit Video: http://www.youtube.com/watch?v=1leN8E8BKTo
Real Estate Investors Zero In on Short Sale Homes Video: http://www.youtube.com/watch?v=ZMUZSPSrtuI&feature=related
Comments (4)Subscribe to CommentsComment