Foreclosures For Sale In Prince George's County, Maryland

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Real Estate Agent with Realty Group Referrals 16766
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Foreclosures For Sale In Prince George's County, Maryland

 

News reports continue to describe the real estate market in Prince George's County, MD as one of the most troubled areas in the metropolitan Washington, DC area. There are 2,156 homes actively listed for sale on MRIS, the regional multiple listing service.  653 (30.28%) of the active listings are short sale pre-foreclosures.  183 (8.48%) of the available properties are lender owned foreclosures (REO).

These figures are striking when compared with the nearby Montgomery County market which has 2,567 homes for sale with 255 (9.93%) short sale pre-foreclosures and 30 (1.17%) lender owned foreclosures (REO).

At first glance, some might think that home buyers and investors would avoid Prince George's County but that is not what is happening.  The bargain prices are attracting real estate investors and home buyers that would normally be purchasing in Montgomery County where prices are higher.  This will continue to be an attractive market as long as the REO and short sale inventory represents a large percentage of the available properties.

Even though there is no shortage of bargains, prospective purchasers need to be very careful with their purchases.  The best protection is the use of a buyer agent that really knows the local market.  All purchasers that plan to use mortgage financing should have a pre-approval letter in hand.


183 Foreclosures For Sale In Prince George's County:

52 foreclosures priced at or below $100,000

83 foreclosures priced $100-200,000

48 foreclosures priced at $200,000 or more

 

With the large volume of distressed properties, many have deferred maintenance or repair requirements.  Investors know that you can usually obtain larger discounts when properties need fix-up.  Home buyers that want to purchase fix-up properties should consider the advantages of the FHA 203(k) program which allows financing of the cost of the improvements as well as the purchase amount.  We will be happy to recommend loan officers and assist with the home search process.

Hydrangea, Kentlands, Spring Flowers IMG_1375

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

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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.

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Rainer
186,157
Irene Durocher
Coldwell Banker BUYERS AGENT - Boca Raton, FL
homesweethome4u@att.net

Hi Roy, thanks for the update on Prince George"s County homes for sale.

I know it is important to use a qualified" buyer"s agent so if your looking for a knowledgeable

Realtor, give Roy a call today.

Jul 01, 2012 11:07 PM #1
Rainmaker
3,021,941
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Good Morning Roy, I Love the point that despite the hiogh amount of foreclsoures, it is attracting buyers to the great bargains available. We are seeing similar trends here in NH. Have a great Monday

Jul 01, 2012 11:16 PM #2
Rainmaker
5,428,250
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good morning.  Thanks for your feedback.  Prince George's County covers a large area and conditions differ from community to community.  Investors like to identify the best long term rental areas as the build their portfolios.

Dahlia in Kentlands IMG_0033

Photograph by Roy Kelley

Roy and Dolores Kelley Photographs

Jul 01, 2012 11:27 PM #3
Rainmaker
313,290
William True
True Sarasota Real Estate - Sarasota, FL
Sarasota Real Estate

Good Morning, Roy! Very nice report on foreclosures for sale in Prince George's County, Maryland. Wishing you a great day in real estate and more.

Jul 02, 2012 12:03 AM #4
Rainmaker
592,740
Than Maynard
Coldwell Banker Heart of Oklahoma - Purcell, OK
Broker - Licensed to List & Sell - 405-990-8862

The investors are coming out of the woodwork here too. But everyone seems to be getting of the fence now.

Jul 02, 2012 12:04 AM #5
Rainmaker
5,428,250
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks for your comments on the report on real estate in Prince George's County, Maryland.  

Have a very special week as we celebrate Independence Day.

Dahlia, Kentlands, Flowers IMG_0184

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

Jul 02, 2012 01:11 AM #6
Rainmaker
5,428,250
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Montgomery Heritage Daysheritage
The Gaithersburg Community Museum and Observatory Park are among the nearly 40 sites participating in Montgomery County Heritage Days, a showcase of our region's rich history, culture and natural beauty. Activities take place on June 23 and 24. In Gaithersburg you can participate in solar observations both days at Observatory Park, with specially guided tours by David Doyle at 1 and 2:30 p.m. on Sunday. At the Community Museum, enjoy John Hadfield's Science Show on Saturday and Flumpa and Friends Out of this Worldscience adventure on Sunday. Both shows are at 2 p.m.Click here to learn more. All Heritage Days events are free. 
 
Dig deeper into local history with this week's inDepth article about Gaithersburg in the Civil War. Use the link in the right column.
Jun 17, 2018 10:06 AM #8
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Rainmaker
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Roy Kelley

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