Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 12/08/11
Low home prices and strong demand for rental housing continue to drive investors into the market. Investors continue to find that purchasing distressed units, rehabbing and than collecting rents to be an attractive aspect of their overall financial plan. Whether considering an REO or short sale, buyers should use an agent experienced in these transactions to ensure proper representation and to have a full understanding of the various processes. For more information, read this article at http://rismedia.com/2011-11-27/investor-sales-surge/
The Montgomery County Distressed Market
Of the 2769 homes currently available for sale in Montgomery County, 87(3.1%) are REO or foreclosures while 529(19.5%) are potential short sales. The number of foreclosures available is very low and lenders are continuing to receive multiple offers on many and selling them for above list price. Short sales continue to be an active segment for buyers, especially for those who can allow the lender(s) sufficient time to complete the process, usually 3-6 months.
Foreclosures:
There are 41 lender owned foreclosures (REO) for sale at or BELOW $250,000. 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=2133467XBN8H&p=DE-154882470-864
There are 33 lender owned foreclosures (REO) for sale between $250,000 and $500,000. 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=2133467XBN8H&p=DE-154882496-52
There are 13 lender owned foreclosures (REO) for sale at or Above $500,000.
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=2133467XBN8H&p=DE-154882504-660
Short Sale Pre-foreclosures:
There are 238 short sale listings at and below $250,000.
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=2133467XBN8H&p=DE-154882598-518
There are 237 short sale listings for sale between $250,000 and $500,000. 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=2133467XBN8H&p=DE-154882613-727
There are 63 short sale listings for sale at or above $500,000
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=2133467XBN8H&p=DE-154882625-530
Home buyers need to be very selective when submitting offers on short sale listings to avoid the disappointment of a canceled sale after much time has past.
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Statistics
The real estate market statistics for the past month may be viewed by clicking on the following link: http://www.rbintel.com/statistics/montgomery-county-md
If you would like to receive information on neighboring counties, please email me directly. Additionally, custom searches can be created based upon specific criteria as well.
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Your Real Estate Professional,
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