There is an excellent selection of foreclosures and bank owned homes for sale in Pasadena Maryland. Foreclosures are often priced below market value. You can find Pasadena foreclosures in every different price range all over Pasadena Maryland. Bank owned homes, sometimes called REO homes or HUD homes, are those properties that have been foreclosed upon by lenders. They are usually sold as-is and often need work to make them habitable again but not always. Fannie Mae foreclosures are often freshly painted, have had the carpeting replaced, and could have new appliances. Distressed homes often start for sale at prices where the homeowner could sell and pay off their mortgage debt, but if they cannot sell the home for what they owe, homeowners often offer the home for sale as a short sale. If they are unable to sell the home short, then the bank will usually initiate foreclosure proceedings. Considering purchasing a bank owned home or a foreclosed home in Pasadena Maryland can be a great choice when it comes time to buy your next home.
The chart below tracks current real estate market trends for Pasadena Maryland in the 21122 zip and shows foreclosure sales compared with non-bank mediated sales over the last year. The chart below is a dynamic and is updated about the 10th of each month to reflect that the latest trends in real estate.
The number of foreclosures and bank owned homes sold in Pasadena Maryland in 2011 was 125 for the year with an average sales price of $215,857. Year-to-date there have been 31 foreclosures sold with an average sales price of $167,085. Compared to non-foreclosures sales year-to-date of 101 homes sold with an average sales price of $296,131, Pasadena Maryland bank owned homes are selling at a 56.42% discount.
NOTICE: Pasadena Maryland foreclosure and bank owned properties market data as of April 19, 2012. Information about the Pasadena Maryland foreclosure and bank owned properties market is believed to be accurate, but should not be relied upon without verification, is made available "As Is" and subject to revision at any time without notice.
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