What's Available in Germantown MD For $150,000 Or Less?

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Real Estate Agent with Realty Group Referrals 16766

What's Available in Germantown MD For $150,000 Or Less?  

Investor Alert  

Investors like Germantown because the area provides a constant supply of moderately homes that are suitable for rental properties. Readily available public transportation and shopping make this an ideal area for many renters. Some investors like to purchase in the price range below $150,000 because the numbers work better for rentals in the lower price ranges. Much of the time, they are competing with first time home buyers.  

This is what is available today: There are 30 active listings priced at $150,000 and below.  

If you exclude the short sales and lender owned foreclosures, there are only 3 available properties. This represents a shortage of regular listings in this price range. Investors try to identify the highly motivated sellers. There are always some sellers that must sell due to divorce, job transfer and other situations. 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. Investors are also attracted to properties that have deferred maintenance or renovation needs that scare away first time home buyers.  

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-102722723-258  

For those that are playing the short sale market, there are 16 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. First time buyers are avoiding short sales because it is unlikely that contracts will be ratified by the April 30 tax credit deadline.  

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-102722760-896  

The hot sector is the inventory of lender owned foreclosures. There are 11 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-102722787-889  

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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Topic:
Real Estate General Information
Location:
Maryland Montgomery County Germantown
Groups:
Posts to Localism
Tags:
homes for sale
foreclosures
investors
md
reo
buyer agent
germantown
short sales
remax realty group
roy kelley

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Rainmaker
246,651
David Pylyp
RE/MAX Realty Specialists Inc., - Toronto, ON

Excellent Blog style posting!

I often remind people that customers want to see listings!

Then Give them listings!

Thank you for being a leader.

David Pylyp

ShopTOism

 

Feb 25, 2010 11:09 AM #1
Rainmaker
5,386,458
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

David:  Thanks for your comments. Best wishes for continued success.

Feb 25, 2010 12:03 PM #2
Rainer
273,383
Irene Tron
Valparaiso, IN

Great information to get a lot of information out in one post.  Good job.

Feb 25, 2010 12:03 PM #3
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Rainmaker
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