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Prince George's County, Maryland Foreclosures Update 7/28/11

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Real Estate Agent with Realty Group Referrals 16766

Prince George's County, Maryland Foreclosures Update 7/28/11  

There are 4,406 active listings of homes for sale in Prince George's County MD.  532 (12%) of the homes for sale are lender owned foreclosures.  1,681 (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 to find one stop financing.  Tell us about your very specific needs and we will try to match you with an appropriate loan officer.
 
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.  For our area, this means that the maximum Conforming and FHA limits will drop from $729,750 to $625,500 for Washington DC, Montgomery County, Prince George's County and Frederick County, Maryland.  The Howard County loan limit will drop to $494,500.
 
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:  

There are 175 lender owned foreclosures priced at $100,000 and BELOW.  These are REO homes for sale.  Click on the listing number for full details on each property.

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-145640126-363

There are 166 lender owned foreclosures priced from $100,000 to $150,000.  

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-145640208-347

There are 104 lender owned foreclosures priced from $150,000 to $200,000.

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-145640299-54

There are 87 lender owned foreclosures priced at $200,000 and ABOVE.  

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-145640400-26

With the large number of available lender owned foreclosures, you may find it difficult to identify the properties that may best meet your needs. Please ask us for any assistance you may need. We will email information on the properties in your price range.

Prince George's County MD Real Estate Market Statistics:  During June, there were 783 closed sales, down 20.43% from last year.   The average sold price was $187,381, down 7.97% from last year, with an average of 99 days on the market.  The median price was $169,000, down 9.75% from last year.  Homes were selling for an average of 89.56% of the average original list price.   

The real estate market statistics for the previous month may be viewed by clicking on the following link.  http://www.rbintel.com/statistics/prince-georges-county-md  The figures are revised on the tenth of each month.  Please contact us if you wish to receive a report on your preferred zip code.

Free Credit Report:  You have the right to get a FREE COPY of your credit file disclosure, commonly called a credit report, once every 12 months, from each of the nationwide consumer credit reporting companies – EQUIFAX, EXPERIAN and TRANSUNION. For instant access to your FREE CREDIT REPORT, visit www.annualcreditreport.com or call 877-322-8228.

All home buyers that plan to use mortgage financing should obtain pre-approval for financing as the first step in the purchase process. Investors should also follow this advice since investor financing is still difficult for many because of the lender limits on the number of financed properties.  Please ask us for a referral to a loan officer if you do not have an existing relationship with a mortgage lender.

All of the active listings of homes for sale in Prince George's County and other areas in Maryland may be viewed on Homes Prospector at www.roykelley.com

Visit www.roykelley.net to view scheduled trustee sales and our real estate blogs on ActiveRain.

Please contact us with your real estate questions. Your referrals of friends and family members will always be appreciated.  

 Life is good in Maryland!

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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.

Comments (12)
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Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Roy, your real estate market statistics are very detail, it seems like prices are down and more properties were sold than last year.

Jul 28, 2011 03:29 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good Friday morning, Kwee.  Thanks for your comments.  Prince George's County has experienced an unusually high number of foreclosures.  It will take some time before the market returns to normal.  In the meantime, there is no shortage of bargains for real estate investors and home buyers.

 Brandywine Festival of the Arts

Jul 28, 2011 10:31 PM
Anonymous
Angela

Good Morning Roy, we are looking for a real estate investment in Bowie, but I noticed there were none.  Is Bowie in a PG county bubble of sorts?  We are looking for the "M" area, which has lower end homes but great schools.  Thanks, Angela

Aug 08, 2011 01:25 PM
#3
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We are having some more showers in Maryland today.

I hope you are enjoying a most productive week.

May 18, 2016 02:26 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We have a sunny Tuesday morning in Kentlands and life is good.

Have a great day and an outstanding week.

Jun 28, 2016 12:16 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We have hot Saturday in Kentlands. Keep cool and have an outstanding weekend.

Jul 09, 2016 12:12 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

It is sometimes good to revisit old blogs and reblogs. We might even find some good ideas for new posts.

Apr 02, 2018 08:16 AM
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