 Maryland Luxury Short Sale Market Trends Report |
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WELLS FARGO FORECLOSURE POSTPONEMENT GUIDELINES: (1) Wells Fargo has a short sale sales contract in hand that has been approved (including approvals from junior lien holders and mortgage insurers, if applicable), (2) the buyer has proof of funds or financing approved, and (3) the short sale can close within 30 days of the scheduled foreclosure Sale. Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 14,087 Maryland properties during the third quarter, a 10 percent decrease from the previous quarter and down nearly 5 percent from the third quarter of 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report. For September, Maryland reported 3,764 properties with foreclosure filings, a 22 percent decrease from the previous month and 44 percent below the level reported for the same month last year. It ranked 23rd in the national in total foreclosures reported for the month. One in every 620 Maryland housing units received a foreclosure filing in September, ranking the 21st highest foreclosure rate among the 50 states. “Maryland foreclosures were down during the third quarter,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decrease was in auctions, which fell 33 percent for the month. The state’s unemployment rate remains well below the national average, and its home sales were higher than most states earlier this year. These factors are likely driving the recent decline.” Maryland ranked 16th in total foreclosures reported for the third quarter when compared to all states. One in every 166 Maryland housing units received a foreclosure filing during the quarter, giving the state the 15th highest foreclosure rate in the nation. Maryland Short Sale Expert - Aaron Rice known as the Short Sale Wiki Provides Top Secret Video Testimonials on Luxury Foreclosure Alternatives, Successfull Short Sales www.ShortSaleWikiLeaks.com. For luxury homeowners struggling with mortgage payments, These WikiLeaks explain differences between foreclosure and short sales. WARNING: The Contents of this website may cause your home to sell! Other side effects may include: joy, sudden urge to give a video testimonial, hug your REALTOR®, potentially improve your future financial stability, or last but not least referralitis. (more...) |
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| Talbot County, 21601, Luxury Short Sale Market Trends Report |
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According to the 2010 Short Sale Research Study by CoreLogic; The number of Short Sales has more than tripled since 2008. Multiple variables indicate Short Sales will continue to be a significant factor for the real estate industry. In April, the Obama administration formally rolled out a new program, called Home Affordable Foreclosure Alternatives (HAFA), that was designed to spur more short sales, where banks allow homeowners to sell their homes for less than the mortgage debt outstanding. Like other foreclosure-prevention initiatives, this one appears to be off to a slow start — just 342 sales have been completed through September. Independent MRIS research by Aaron Rice, Certified Luxury Homes Marketing Specialist (CLHMS) of www.MarylandLuxurySolutions.com shows that there are 31 active Short Sale listings in Talbot County, MD. Most of these properties are overpriced or are in less than ideal condition that do not attract buyers and just sit on the market. The average day’s on the market for these active properties is 278. There are currently 8 Short Sale properties under-contract. These buyers have found and are expecting and getting a great value-a good property at a good price and with all the competition for their attention, they have a lot of choices. These buyers are really picky. There were 5 Short Sale properties that sold in the last 60-days. The average day’s on the market was 139. Buyers have a sense of what’s fair market value and what’s not and they just won’t show up if you are not in the ballpark. There is currently 13.30 months of Short Sale inventory on the market in Talbot County, MD. The highest priced Short Sale Listing in Maryland is located in Easton, 21601 zip code, Waverly subdivision - (27483 Waverly Rd. List price $4,500,000). Courtesy of Benson & Mengold, LLC. It’s very important that sellers price the property correctly and competitively. Buyers are looking for value pricing and if sellers don’t meet these expectations, they’re property will be overpriced and overlooked. Certified Distressed Property Expert (CDPE) - Aaron Rice, of www.AaronRiceHelps.com Provides luxury homeowners struggling with mortgage payments a Free Report that explains differences between foreclosure and short sales. The report can be found at www.MarylandLuxurySolutions.com and provides a thorough explanation of how a short sale may potentially improve a homeowner’s future financial stability. (more...) |
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Aaron J Rice
Keller Williams Realty Baltimore
2936 O'Donnell St.
Baltimore, MD 21224
443-244-0051 (Cellular)
410-342-4444 (Office)
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