Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 01/26/12

By
Real Estate Sales Representative with RE/MAX Realty Group

Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 01/26/12

 

The Montgomery County Distressed Market

 

According to 2011 MRIS statistics, 9473 listings were sold in Montgomery County, MD. Of these, 974 (10.3%) were REO’s and 1377 (14.1%) were potential short sales. The REO properties had an average sold price of $234,345 with an average of 68 days on market. Short sale listings had an average sold price of $265,007 with an average of 94 days on market. What is interesting is that the REO market represented 10.3% of the sales while representing around 4-5% of the available properties. Short sales, on the other hand, represented about 20% of the available inventory but only accounted for roughly 14% of the closed sales in 2011. 

 

Of the 2375 homes currently available for sale in Montgomery County, 72(3.0%) are REO or foreclosures while 479 (20.2%) 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 34 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-157827023-947

 

There are 28 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-157827039-93

 

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-157827059-93

 

 

Short Sale Pre-foreclosures:

 

There are 223 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-157827293-56

 

There are 210 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-157827302-74

 

There are 54 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-157827311-374

 

 

Have you visited my real estate page on Facebook? 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 as their exclusive agent 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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