Germantown, MD

GERMANTOWN MD TRUSTEE SALES - HARVEY WEST AUCTIONEERS

Harvey West Auctioneers has scheduled Maryland trustee sales.

Trustee sales auctions are open to the public and all qualified bidders. These sales are foreclosures by the secured mortgage lenders. Buyers should carefully read the newspaper advertisements that appear for three weeks before the sale date. The required deposits must be in the form of cash or certified funds. Most of the bidders use cashier's checks that are payable to themselves and endorse the checks when they are successful. Always check for cancellations before attending trustee sales. Seek professional advice if you do not have full knowledge of the risks. Since these transactions are not conditioned on the availability of mortgage financing, buyers should always have written pre-approval for financing with disclosure to the lender that the property is being purchased in 'as-is" condition. Normally, the properties are not offered for inspection.

The secured mortgage lenders are buying in most of the properties that are sold at the court house auctions. The lenders then offer the homes for sale to the public when they become part of the REO inventory. Contact us for client reports on lender owned homes that are available for purchase. We represent home buyers as their exclusive agents in the Maryland suburbs of Washington DC and nearby counties. roykelley@mris.com

Harvey West, Auctioneers complete trustee sale schedule: http://www.hwestauctions.com

WHEN YOU PURCHASE AT A TRUSTEE SALE, THE BUYER IS RESPONSIBLE FOR ANY NEEDED EVICTION. SEEK PROFESSIONAL ADVICE IF YOU DO NOT FULLY UNDERSTAND THE RISKS.

Pending home sales rose again, marking eight consecutive monthly gains - the longest streak since measurement began in 2001, according to the National Association of Realtors®. The Pending Home Sales Index rose 6.1 percent to 110.1 from a reading of 103.8 in August, and is 21.2 percent higher than September 2008 when it stood at 90.9. The gain from a year ago is the largest annual increase on record, and the index is at the highest level since December 2006 when it was 112.8. Lawrence Yun, NAR chief economist, said the momentum is understandable. "What we're witnessing is a rush of first-time buyers trying to beat the expiration of the tax credit at the end of this month," he said. "Home values will stabilize sooner rather than over-correcting. That, in turn, will mean wealth stabilization for the vast number of middle-class families and lay the foundation for a durable economic recovery."

GERMANTOWN MD 20876 REAL ESTATE TREND INDICATOR

If you are thinking about buying or selling a home in zip code 20876, you should take a close look at the following report that compares the statistics for the past month with the same month last year. During the month, there were 93 active listings of homes for sale in 20876. There were 28 new listings in the zip code and 33 listings went to pending new contracts. There were 33 actual settlements as compared to 25 homes sold last year. The average sold price was $266,748 and the median sold price was $235,000, down 31.88% from last year. The total sold dollar volume was down9.05%. The average number of days on the market was 71 as compared to 126 days last year. The average sale price was 95.49% of the average list price. It is still a market which favors buyers. Some buyers are finding it more difficult to qualify for mortgage financing. All prospective buyers should get pre-approved for mortgage financing as the first step in the home purchase process. Mortgage interest rates are the lowest in decades. Many home buyers are selecting FHA financing with the low 3.5% minimum cash requirement. The FHA Streamlined 203(k) loan also allows borrowers to include up to $35,000 of home improvements in their mortgage.

There are 58 homes for sale in Zip code 20876. Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-94392524-59

Do you qualify for a tax credit? The Home Buyer Tax Credit now includes current home owners as well as first time buyers. This link provides the highlights of the program: http://www.federalhousingtaxcredit.com/glance.php

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

ZIP Code: 20876 Germantown, MD
From: 10/01/2009 to 10/31/2009 Statistics generated on: 11/09/2009

Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2009 - Information deemed reliable, but is not guaranteed.

Please contact us with your questions on the residential real estate market.