196 Homes for Sale, 9 Foreclosures, in Germantown, Maryland

By
Real Estate Agent with Realty Group Referrals 16766
https://activerain.com/droplet/sYS
196 Homes for Sale, 9 Foreclosures, in Germantown, Maryland
 
There are 196 homes listed for sale in Germantown, Maryland.  These figures are based on today's multiple listing service (MRIS) data.  9 (4.59%) are lender owned foreclosures (REO).  75 (38.26) are short sale pre-foreclosures.  The home prices range from $2,995,000 down to $83,000.
 
A sad fact of life is that a large percentage of the short sale offerings will never reach settlement.  Some will fail because the unrealistically low prices will attract offers that are below the levels that will be accepted by the secured lenders that must provide the necessary third party approvals for these transactions.  Some will fail because the sellers have not provided the documentation that is required for lender approval.  Others will fail because the agents are not familiar with short sale requirements.
 
The result is that the large number of short sale pre-foreclosures distort the list of available properties because buyers tend to think that all of the offered listings could result in successful transactions.  Home seller and home buyers need to obtain enough information on the dynamics of the local market to make wise purchase and sale decisions.
 
Everybody wants a bargain so home buyers usually begin their search by looking at the list of available lender owned foreclosures to determine if there are properties that should be considered. In Germantown, that list is short and buyers should expect multiple contract competition for the preferred homes.
 
One of the initial steps that should be taken by home buyers, including real estate investors, that will need mortgage financing is to obtain pre-approval for the needed financing.  Those that want to purchase fix-up properties should be looking at FHA 203(k) financing or alternative financing that will allow the cost of repairs or renovation to be included in the mortgage.  The best source of a lender referral is from the buyer agent in the transaction.
 
Please contact us when you need information on the residential real estate market in Montgomery County, Maryland.  We will make sure you have the information to make the best decisions. We will be happy to set up automatic searches that will immediately alert you when new listings become available. 
 
 
 
 
There is much to see and do in Maryland and the available quality of life benefits are very attractive to home buyers that are transferred to the region.  Be sure to have your camera in hand to capture those special moments when you are out and about in your community or during your travels.


Longwood Gardens Conservatory IMG_3750
Photograph by Roy Kelley using a Canon PowerShot G11 camera.
Roy and Dolores Kelley Photographs
 
Posted by

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.

close

Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
Topic:
Real Estate General Information
Location:
Maryland Montgomery County Germantown
Groups:
Great Shots!
EXPRESS WITH PHOTOGRAPHS AT ACTIVERAIN
Wordless Wednesday
ActiveRainPhotoBlogger
Photos
Tags:
homes for sale
foreclosures
short sales
roy and dolores kelley photographs

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
1,869,196
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Sounds as if there are a number of opportunties for homes, foreclosures and short sales in Germantown Maryland. It's important to have a knowledgable agent to guide and advise you as the best option. Roy's your guy!

Feb 15, 2012 05:47 AM #1
Rainmaker
5,428,437
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks, Debb.  The selection of an exclusive buyer agent is a very important decision for every home buyer and every real estate investor.  Everybody has access to all of the inventory but agents are not equal in the the skills that are needed for successful transactions.

Feb 15, 2012 06:15 AM #2
Ambassador
1,501,171
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Roy, Great information on the real estate market in Germantown, Maryland.  Good for buyers in the Germantown area.  Hope you enjoy a great afternoon.

Feb 15, 2012 06:21 AM #3
Rainmaker
5,428,437
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks, John.  Home buyers are being quoted very low mortgage interest rates. The 15 year fixed rate mortgages are very attractive at 3.25%, with no points, for 95% loan to value to $417,000.  Rates may vary depending on the credit scores and the qualifications of the purchasers.

Feb 15, 2012 06:25 AM #4
Rainmaker
1,197,991
Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Roy

I geuss this is another one of those Ach du lieber moments. I know, kind of not toooo punny, cheers cvc

Feb 15, 2012 07:32 AM #5
Rainmaker
2,050,826
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Roy,

I think if someone is interested in a home in Germantown Md. they should call you to strat with and get the ball roling in the proper direction.

Feb 15, 2012 07:58 AM #6
Rainer
535,474
David Burrows
Classic Realty - Fairfax, VA
No Pressure, Just Seriously Devoted to Real Estate

Very interesting numbers Roy... As always thanks for sharing the photo, too.

Feb 15, 2012 08:10 AM #7
Rainmaker
5,428,437
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks so much for your comments.  It will take some time for the inventory of short sale listings to decrease to more reasonable levels in Germantown, MD.  Unfortunately, that means that more families will lose their homes to foreclosure.

On the positive side, lender owned foreclosures sell rather quickly in Germantown. The economy is strong in the area and it is a great time for investors to build their rental portfolios.

Feb 15, 2012 08:36 AM #8
Rainmaker
933,953
Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Roy, your post always have great information accompany with beautiful flower photo. Now is a great time to buy, call your local expert Roy ASAP.

Feb 15, 2012 12:37 PM #9
Rainmaker
5,428,437
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks, Kwee.  It is always good to hear from you.  I am glad that you enjoy our flower photographs.  This is a Mother of Thousands plant.

Feb 16, 2012 01:53 AM #10
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
5,428,437

Roy Kelley

Ask me a question
*
*
*
*
Spam prevention