Frederick, MD 21701 Residential Real Estate Market - 281 Homes For Sale
Homes for sale, short sale pre-foreclosure homes for sale, REO homes for sale: The following three reports show the properties that are active listings of homes for sale in the area. The homes for sale are sorted by subdivisions. You may sort differently by clicking on the column headers.
Chrysanthemums are blooming in Maryland.
The first report shows the 222 active listings of homes for sale excluding the lender owned foreclosures for sale (REO) and the short sale pre-foreclosures for sale. Buyers are looking for motivated sellers and some place vacant homes on the "first to see list".
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-127125176-864
The second report shows the 45 short sale listings of homes for sale. Short sales are transactions where the proceeds of the sale will not cover the outstanding mortgages. These are pre-foreclosures. Home buyers need to be very selective when submitting offers on short sales. If the price appears too good to be true, the listing may be unrealistic. Investors are playing the odds by submitting contracts on several properties.
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-127125207-330
The third report shows 14 lender owned foreclosures (REO) for sale. The lender owned properties are vacant and prices are reduced until they are sold by the highly motivated sellers. Many of the REO properties need repairs due to deferred maintenance. Bargains are found in this inventory and well priced properties are attracting multiple offers.
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-127125234-573
Mortgage Financing: Pre-approval for financing is the first step in the home purchase process. Buyers need to have a lender letter in hand when they submit an offer on a property. Buyers should be prepared to fully document their income and obligations. Ask us for a referral if you do not have an existing relationship with a mortgage lender.
The FHA loan limit for Montgomery County and Frederick County is $729,750. FHA financing has a minimum cash requirement of 3.5% of the purchase price. FHA Streamlined 203(k) financing allows borrowers to include up to $35,000 of home improvements in the mortgage amount. The limit for FHA reverse mortgages: $625,000. Age 62+ seniors use reverse mortgages when they need to eliminate mortgage payments.
Please contact us with your questions on the residential real estate market. Buyers and sellers should understand the impact of short sale listings and REO properties.
Your referrals of friends and family members will always be appreciated.
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