Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 01/19/12

By
Real Estate Sales Representative with RE/MAX Realty Group
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Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 01/19/12

The Montgomery County Distressed Market

Despite media coverage that financing is scarce and difficult to obtain, the reality is that lenders are willing and able to lend. One caveat is that the buyer must actually have the resources for a down payment and demonstrate they can make the mortgage payments. In the residential market, financing for owner occupied homes is available without mortgage insurance with as little as 5% down. FHA is still lending with 3.5% down but buyers must pay the upfront and monthly mortgage premiums. In rural areas, USDA is offering 100% financing. Additionally, HOC and local jurisdictions are also offering special programs to assist home buyers.

For investors, 20% down is still the minimum required down payment except for Fannie Mae Homepath properties which require as little as 10% down. If you need a referral for a participating lender, please let me know.

Of the 2382 homes currently available for sale in Montgomery County, 75(3.15%) are REO or foreclosures while 485 (20.36%) are potential short sales.  The number of foreclosures available remains low.  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.   To search all available listings, please click here.

Foreclosures:

There are 35 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/DE.asp?k=2133467XBN8H&p=DE-157312499-692

 

There are 30 lender owned foreclosures (REO) for sale between $250,000 and $500,000.

Click the following URL to see the listings:

http://mrislistings.mris.com/DE.asp?k=2133467XBN8H&p=DE-157312516-323

 

There are 10 lender owned foreclosures (REO) for sale at or Above $500,000.

Click the following URL to see the listings:

http://mrislistings.mris.com/DE.asp?k=2133467XBN8H&p=DE-157312674-968

 

Short Sale Pre-foreclosures:

There are 225 short sale listings at and below $250,000.

Click the following URL to see the listings:

http://mrislistings.mris.com/DE.asp?k=2133467XBN8H&p=DE-157312956-499

 

There are 223 short sale listings for sale between $250,000 and $500,000.

Click the following URL to see the listings:

http://mrislistings.mris.com/DE.asp?k=2133467XBN8H&p=DE-157313093-186

 

There are 49 short sale listings for sale at or above $500,000

Click the following URL to see the listings:

http://mrislistings.mris.com/DE.asp?k=2133467XBN8H&p=DE-157313225-174

Have you visited my real estate page on Facebook?  Designed to provide with you valuable information on home ownership, occasional money saving deals I come across and more. Please click here today and show me your support by “Liking” the page and feel free to share it with your friends and family. Your referrals of friends, family members and colleagues will always be appreciated.  My business is referral based and I like it that way! I represent buyers and sellers in residential transactions, whether a regular resale or distressed property.  

Your Real Estate Professional,

Craig Rosenfeld

Licensed in Maryland and Virginia.

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Click here for my Active Rain Localisms Blog

 

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