What's Available For $150,000 Or Less In Montgomery County?

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Real Estate Agent with Realty Group Referrals 16766

What's Available For $150,000 Or Less In Montgomery County?  

Investor Alert  

This is a question that is being asked by real estate investors as they seek to build their rental portfolios. Many are pleased to find that there is a pretty good selection of Montgomery County properties below the $150,000 price level.  

This is what is available today:  

If you exclude the short sales and lender owned foreclosures, there are 126 available properties. Investors try to identify the highly motivated sellers. Another condition that favors investors is the current difficulty that home buyers are finding with FHA financing on condos. The lack of FHA condo financing is depressing prices and cash investors are taking advantage of the opportunities.  

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-102712281-685  

For those that are playing the short sale market, there are 79 active listings. Short sale transactions must be approved by the secured mortgage lenders and most do not reach settlement because of the lack of approvals. Some investors are submitting contracts on multiple properties hoping that a couple will be approved. Contracts should be carefully worded to disclose this strategy to the sellers.  

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-102712333-246  

The hot sector is the inventory of lender owned foreclosures. There are 44 active REO listings. Cash investors that have no contract conditions have a definite advantage with the asset managers.  

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-102712363-968  

Cash investors should have a letter in hand from their bank stating that funds are available for the cash purchase of real estate. Investors that plan to use mortgage financing need to have a pre-approval letter for investor financing from their mortgage lender. Those without written documentation are not taken seriously.  

Please contact us with your specific requirements.

Posted by

Roy and Dolores Kelley Photographs

Roy Kelley and Associates

 

Roy Kelley, Associate Broker

Realty Group Referrals (Retired from RE/MAX Realty Group)

6 Montgomery Village Ave., Suite 200

Gaithersburg, MD 20879

Main Office:  301-258-7757 (You will not reach me at this number)

Send an email message if you need my phone numbers. I will be happy to recommend a real estate professional if you are moving to the area.

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Tags:
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Rainer
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Jason Ellis
Coastal REO Solutions - Myrtle Beach Short Sales & REO's - Myrtle Beach, SC

nice post -- looks like there is a lot of value there!!  Best of luck

 

JE

Feb 25, 2010 03:07 AM #1
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Rob, this is great advice for investors, and you make a great point that not all of the best deals are foreclosures and short sales.

Feb 25, 2010 03:59 AM #2
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks for your comments. For now, investors are beating out many first time home buyers in the lower price range. Sellers prefer clean contracts without the worry of lender requirements.

Feb 25, 2010 04:17 AM #3
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Rainmaker
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