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Damascus, MD

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MARYLAND FORECLOSURES - NEW REO LISTING - 25011 WOODFIELD RD, DAMASCUS, MD 20872

08-30-08
Roy Kelley
Roy Kelley: Real Estate Agent in Gaithersburg, MD
  • view my blog
  • Office: (301) 921-4569

NEW REO LISTING - DAMASCUS, MARYLAND

Bargain hunters make note. September home buyers need to watch the inventory of lender owned homes in Montgomery County, MD, The result of the surge in foreclosures is that the lenders now own an excessive number of properties. The lenders are highly motivated sellers and are reducing the prices until the homes are under contract. Allow us to show you how to successfully purchase a lender owned foreclosure.

Many families are using FHA financing for the low cash requirement and the ability to have the seller assist with closing costs. FHA also offers renovation financing if you wish to purchase a home that needs repairs. Buyers need to be pre-qualified for mortgage financing since a lender letter must be submitted with any offer. Ask us for the name of a loan officer if you have not already selected a lender. We provide client reports on lender owned homes in Montgomery County and Frederick County, Maryland. roykelley@mris.com Client Assistance: 301-670-8996.

25011 WOODFIELD RD, DAMASCUS, MD 20872
COUNTRY VIEW - 3 BEDROOMS.2 BATHS - $349,900
Photo

Tax Fiscal Year 2008 Estimated property tax and non-tax charges in first full fiscal year of ownership.
PUBLIC RECORDS PROVIDED BY MRIS
TOTAL EST. CHARGES: $4,983 City Tax: Tax Year: 2008
State/County Tax: $3,421 Refuse: 198.42 Base Tax Rate: 0.74
Special Tax: $1,363 Homestd/Exempt Status: Exempt Class: 000
Front Foot Fee: Tax Class: 42 Mult Class:



ASSESSMENT

Year Assessed
Phase-in Value
Land
Improvement
Land Use
2008 $462,976 $262,180 $251,970

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DAMASCUS, MARYLAND FORECLOSURE - FREDDIE MAC REO - 24712 SHOWBARN CIR, DAMASCUS, MD 20872

08-24-08
Roy Kelley
Roy Kelley: Real Estate Agent in Gaithersburg, MD
  • view my blog
  • Office: (301) 921-4569

FREDDIE MAC REO - DAMASCUS, MARYLAND

Damascus home buyers are watching the inventory of lender owned foreclosures in Montgomery County, Maryland for end of summer bargains. Prospective buyers of this property need to have a pre-qualification letter since a lender letter must be submitted with any offer. Ask us for the name of a loan officer.

Many families are using FHA financing for the low cash requirement and the ability to have seller paid closing costs assistance. Recent changes by the White House made FHA even more attractive as mortgage financing to use for the purchase of lender owned properties.

If you think the price is too high on an REO home, make an offer. The lenders must sell these homes and prices are reduced until they are under contract. We represent buyer clients as their exclusive agents. Ask us about our reports on lender owned foreclosures in Montgomery County and Frederick County, MD. roykelley@mris.com

24712 SHOWBARN CIR, DAMASCUS, MD 20872
DAMASCUS HILL - 3 BEDROOMS/2 BATHS - $342,895
Photo

Tax Fiscal Year 2008 Estimated property tax and non-tax charges in first full fiscal year of ownership.
PUBLIC RECORD PROVIDED BY MRIS
TOTAL EST. CHARGES: $4,191 City Tax: Tax Year: 2008
State/County Tax: $2,852 Refuse: 198.42 Base Tax Rate: 0.74
Special Tax: $1,141 Homestd/Exempt Status: Exempt Class: 000
Front Foot Fee: Tax Class: 42 Mult Class:



ASSESSMENT

Year Assessed
Phase-in Value
Land
Improvement
Land Use
2008 $385,932 $252,050 $175,000
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DAMASCUS, MARYLAND - RESIDENTIAL REAL ESTATE - ZIP CODE STATISTICS

07-10-08
Roy Kelley
Roy Kelley: Real Estate Agent in Gaithersburg, MD
  • view my blog
  • Office: (301) 921-4569

What's happening with the residential real estate market in Damascus? The sold dollar volume and the number of units sold is down from last year. It's taking a bit longer to sell a home with 85 days on the market being the average. The average sales price is 88.61% of the average list price. That is also down from last year. During the past month, there were 25 new listings and 7 properties went under contract.

Please contact us if you have questions on the market or if you need professional assistance with your next real estate transaction.

Metropolitan Regional Information Systems, Inc.

DAMASCUS, MARYLAND - RESIDENTIAL REAL ESTATE - ZIP CODE STATISTICS

Roy Kelley, Associate Broker, RE/MAX Realty Group

Email: roykelley@mris.com Home Search Website: www.roykelley.com


From: 06/01/2008 to 06/30/2008 Statistics generated on: 07/08/2008

Residential
Unit Sales
Number of Bedrooms		 Active Listings Time on Market
Price Class 2
Or Less
3		 4
or More 		Condo
Coop		 Ground
Rent		 Residential
 Condo
Coop		 Ground
Rent		 of Units Sold
(No. of Units)
Under $100,000 0 0 0 0 0 0 0 0 1 -30 Days 3
$100,000 - 149,999 0 0 0 0 0 0 0 0 31-60 Days 1
$150,000 - 199,999 0 0 0 0 0 0 7 0 61 - 90 Days 5
$200,000 - 249,999 0 1 0 0 0 9 5 0 91-120 Days 0
$250,000 - 299,999 0 0 0 0 0 13 0 0 Over 120 Days 2
$300,000 - 349,999 0 1 0 0 0 9 0 0 Total 11
$350,000 - 399,999 0 2 2 0 0 28 0 0
$400,000 - 449,999 0 0 0 0 0 12 0 0 Type of Financing
of Units Sold
(No. of Units)
$450,000 - 499,999 0 0 3 0 0 6 0 0
$500,000 - 599,999 0 0 0 0 0 10 0 0 Conventional 8
$600,000 - 699,999 0 0 2 0 0 5 0 0 FHA 2
$700,000 - 799,999 0 0 0 0 0 3 0 0 VA 1
$800,000 - 899,999 0 0 0 0 0 4 0 0 Assumption 0
$900,000 - 999,999 0 0 0 0 0 6 0 0 Cash 0
$1,000,000 - 2,499,999 0 0 0 0 0 4 0 0 Owner Finance 0
$2,500,000 - 4,999,999 0 0 0 0 0 0 0 0 All Other 0
$5,000,000 & Over 0 0 0 0 0 0 0 0 Unreported 0
Totals 0 4 7 0 0 109 12 0 Total 11
Grand Totals 11 121
2008 2007 % Change
Total Sold Dollar Volume: $ 4,720,570 $ 5,296,999 - 10.88 %
Average Sold Price: $ 429,143 $ 378,357 13.42 %
Median Sold Price: $ 390,000 $ 310,000 25.81 %
Total Units Sold: 11 14 - 21.43 %
Average Days on Market: 85 85 0.00 %
Average List Price for Solds: $ 484,298 $ 398,764 21.45 %
Avg Sale Price as a
percentage of Avg List Price:		 88.61 % 94.88 %
Total NEW listings: 25
Total Properties Marked Contract: 4
Total Properties Marked Contingent Contract: 3
Total NEW pendings (Contracts + Contingents): 7

Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2008 - Information deemed reliable, but is not guaranteed.

Please contact Roy Kelley & Associates for all of your residential real estate needs. We represent buyers as their exclusive buyer agents. There is a very large number of lender owned homes in the current housing inventory. During the next few months, buyers will have an unusually large selection of properties and the lenders will be highly motivated to accept reasonable offers for their REO homes.

Your Real Estate Advisor,

Roy Kelley

Roy Kelley & Associates

Associate Broker, RE/MAX Realty Group

6 Montgomery Village Avenue, Suite 200 Gaithersburg, MD 20879 USA Direct: 301-921-4569

Client Assistance: 301-670-8996

Email: roykelley@mris.com Fax: 301-921-4586 Main Office: 301-258-7757 x 569

Home Search Website For All Available Homes: www.roykelley.com

Real Estate Professional since 1960. Comprehensive solutions for residential real estate needs.

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Maryland Foreclosure - Lender Owned Home in Damascus, Maryland 20872

06-13-08
Roy Kelley
Roy Kelley: Real Estate Agent in Gaithersburg, MD
  • view my blog
  • Office: (301) 921-4569

Another lender owned foreclosure in now on the market for sale in Damascus, Maryland. In the current market, mortgage lenders are purchasing most of the homes sold at the trustee sales which are held at the court house door in Rockville. The lenders then offer the homes for sale when they become part of the REO inventory.

Please contact Roy Kelley, roykelley@mris.com if you wish to receive reports on lender owned homes in Montgomery County or Frederick County. This is the hot segment of the residential real estate market. Lenders are highly motivated sellers and prices are reduced until the homes are sold. Prospective purchasers need to be pre-approved for financing. Many families are using FHA financing for the low cash requirement. FHA also has programs which provide additional funding to cover renovations. Ask us for a referral to a lender. If you obtained a pre-qualification or mortgage loan commitment before June 1, 2008 and are using stated income or low doc financing, you should confirm that the financing is still available.

26046 RIDGE MANOR DR, DAMASCUS, MD 20872 3 BR/2.5 BA

MAGRUDER VALLEY VILLAGE $268,000
Photo
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ZIP Code: 20872 Damascus, Maryland Real Estate Trend Indicator

06-13-08
Roy Kelley
Roy Kelley: Real Estate Agent in Gaithersburg, MD
  • view my blog
  • Office: (301) 921-4569

Damascus, Maryland 20872 real estate market notes: When you are planning to purchase or sell a home or investment property in Damascus, Maryland, you need to know about the current real estate market conditions. The May 2008 Real Estate Trend Indicator report shows that the number of housing units sold was down 40% from the same month last year. The dollar sales volume was down 35.84%. The average time that a listing is on the market was 81 days. Home sellers need to anticipate the longer time that it is taking for marketing. For many, it is a good idea to obtain a firm contract on your present home before contracting to purchase your next home. The average price as a percentage of list price was 90.66% This shows that it is still a buyer's market. It is interesting to note that the median sold price was down 8.39% from last year.

The reduced number of options for mortgage financing has also impacted the market. Now, a high percentage of buyers are using FHA financing. Buyers and sellers should be aware of the new Maryland restrictions on stated income and no doc financing that went into effect on June 1, 2008. Buyers should always ask about the estimated total for real estate taxes for new buyers since that figure may be higher that the amout paid by the current owners.

Metropolitan Regional Information Systems, Inc. ZIP Code Statistics - <$100K to >$5M Format

ZIP Code: 20872 Damascus, Maryland Real Estate Trend Indicator

Roy Kelley, Associate Broker, RE/MAX Realty Group

6 Montgomery Village Ave., Suite 200, Gaithersburg, MD 20879

Email: roykelley@mris.com Home Search Website: www.roykelley.com


From: 05/01/2008 to 05/31/2008 Statistics generated on: 06/06/2008

Residential
Unit Sales
Number of Bedrooms		 Active Listings Time on Market
Price Class 2
Or Less
3		 4
or More 		Condo
Coop		 Ground
Rent		 Residential Condo
Coop		 Ground
Rent		 of Units Sold
(No. of Units)
Under $100,000 0 0 0 0 0 0 0 0 1 -30 Days 2
$100,000 - 149,999 0 0 0 0 0 0 0 0 31-60 Days 3
$150,000 - 199,999 0 0 0 0 0 0 4 0 61 - 90 Days 2
$200,000 - 249,999 0 0 0 2 0 10 6 0 91-120 Days 0
$250,000 - 299,999 0 1 0 1 0 11 0 0 Over 120 Days 2
$300,000 - 349,999 0 1 0 0 0 8 0 0 Total 9
$350,000 - 399,999 0 0 1 0 0 27 0 0
$400,000 - 449,999 0 0 0 0 0 11 0 0 Type of Financing
of Units Sold
(No. of Units)
$450,000 - 499,999 0 0 0 0 0 7 0 0
$500,000 - 599,999 0 0 2 0 0 8 0 0 Conventional 3
$600,000 - 699,999 0 0 1 0 0 7 0 0 FHA 4
$700,000 - 799,999 0 0 0 0 0 3 0 0 VA 0
$800,000 - 899,999 0 0 0 0 0 2 0 0 Assumption 1
$900,000 - 999,999 0 0 0 0 0 6 0 0 Cash 1
$1,000,000 - 2,499,999 0 0 0 0 0 6 0 0 Owner Finance 0
$2,500,000 - 4,999,999 0 0 0 0 0 0 0 0 All Other 0
$5,000,000 & Over 0 0 0 0 0 0 0 0 Unreported 0
Totals 0 2 4 3 0 106 10 0 Total 9
Grand Totals 9 116
2008 2007 % Change
Total Sold Dollar Volume: $ 3,513,400 $ 5,476,300 - 35.84 %
Average Sold Price: $ 390,378 $ 365,087 6.93 %
Median Sold Price: $ 323,000 $ 298,000 8.39 %
Total Units Sold: 9 15 - 40.00 %
Average Days on Market: 81 98 - 17.35 %
Average List Price for Solds: $ 430,589 $ 377,966 13.92 %
Avg Sale Price as a
percentage of Avg List Price:		 90.66 % 96.59 %
Total NEW listings: 18
Total Properties Marked Contract: 4
Total Properties Marked Contingent Contract: 4
Total NEW pendings (Contracts + Contingents): 8

Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2008 - Information deemed reliable, but is not guaranteed.

Please contact Roy Kelley & Associates for all of your residential real estate needs. We represent buyers as their exclusive buyer agents. There is a very large number of lender owned homes in the current housing inventory. During the next few months, buyers will have an unusually large selection of properties and the lenders will be highly motivated to accept reasonable offers for their REO homes.

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