A recent study finds that in the second quarter, 10.8 million, or 22.3 percent, of homeowners owed more on their mortgage than their house is currently worth, which is down from 11.4 million — or 23.7 percent — in the first quarter. More Home Owners Lifted From Underwater
More First-Time Home Buyers to Emerge in 2013?
The recent momentum of the housing recovery may cause more first-timers to finally get into the market, as they seek to take advantage of record-low mortgage rates and still-low home prices. More First-Time Home Buyers to Emerge in 2013?
Undeveloped Land in High Demand
Investors resell the land for up to 20 percent or more returns on their investment. Or, in a buy-and-hold strategy, investors partner with homebuilders to develop the land. Undeveloped Land in High Demand
Why Short Sales, Foreclosures Damage Credit Similarly
According to a FICO study, one out of every two borrowers who undergo a short sale go on to default on another account within two years. Why Short Sales, Foreclosures Damage Credit Similarly
More Banks Open to Short Sales for Distressed Borrowers
To meet the terms of the $26 billion federal mortgage settlement, the nation’s five largest banks are becoming more agreeable to short sales. More Banks Open to Short Sales
What Happens When Movers Hold Homeowners’ Items Hostage?
Starting in October, movers who hold homeowners’ items hostage can be fined by up to $10,000 a day, according to new rules imposed by the federal government. Movers Hold Home Owners’ Items Hostage?
Three Buyer Turn-Offs During Home Showings
Prospective buyers don't want to see dirty kitty litter boxes or certain other things when they tour your for-sale home. 3 Buyer Pet Peeves When Touring Homes
18 Odenton Short Sales & Foreclosures Under $300,000
Local homebuyers looking for market information invariably ask Realtors for lists of distressed properties being sold as part of the foreclosure and short sale process. So what does the current crop of foreclosures and short sales in Odenton look like? If you’re looking to buy a foreclosure or short sale priced under $300,000, there are 18 such properties in town, with a variety of amenities.
When it comes to location, Odenton’s Piney Orchard community has eight of the 18 short sales and foreclosures priced under $300,000, Seven Oaks contains six such properties and Maple Ridge contains two. The two other properties are located elsewhere in Odenton.
With regard to the type of homes available, seven of the distressed properties are townhouses, five are condominiums, four are duplexes and two are detached homes.
In terms of age, three of the 18 properties are less than 10 years old, 10 are between 11 and 20 years old, and five are older than 20 years.
Finally, in a sign that the local housing market may be absorbing distressed homes a little faster than the rest of the country, 10 of the 18 distressed properties have been on the market less than three months, six have been on the market between three and nine months and two have been on the market for more than a year.
Here is a current list of the 18 Odenton foreclosure and short sale properties priced under $300,000.
Short Sale/
Foreclosure
Price
MLS No.
Address
Home
Type
BRs
BAs
Garage
Spaces
SS
$149,000
AA7904527
1113 PATUXENT RD
DETACHED
1
1
0
SS
$154,900
AA7884444
1320 TENBROOK RD
DUPLEX
3
1
0
SS
$173,900
AA7770320
2504 AMBER ORCHARD CT W #102
CONDO
2
2
0
SS
$185,000
AA7885308
701 HARVEST RUN DR #303
CONDO
2
2
0
SS
$194,800
AA7750074
316 ROFF POINT DR
TH
3
2
0
SS
$195,000
AA7780926
2493 AMBER ORCHARD CT E #102
CONDO
2
2
0
F
$216,240
AA7873505
203 LANGDON FARM CIR #81
TH
4
3.5
0
SS
$218,083
AA6568951
700 ORCHARD OVERLOOK #304
CONDO
2
2
0
SS
$234,900
AA7910966
8638 WILLOW LEAF LN
TH
2
2
0
SS
$249,000
AA7747447
1323 GREYSWOOD RD
DUPLEX
4
1.5
0
SS
$249,900
AA7657072
2602 SUMMERS RIDGE DR
TH
3
3
0
SS
$249,900
AA7890389
1244 ROUNDTOP RD
DETACHED
3
1.5
0
SS
$252,000
AA7918777
105 LANGDON FARM CIR #57
TH
3
2-2
0
SS
$255,000
AA7849496
120 LEEDS CREEK CIR
DUPLEX
3
3.5
0
SS
$260,000
AA7856125
2235 CANTEEN CIR #144
TH
3
2-2
0
SS
$295,000
AA7849459
1850 SCAFFOLD WAY
DUPLEX
3
2-2
1
SS
$299,000
AA7588977
8714 THORNBROOK DR
TH
3
2
0
SS
$299,000
AA7852453
8608 FLUTTERING LEAF TRL #207
CONDO
3
2
1
Jerry Kline is a Realtor with the Odenton, Md., office of Keller Williams Flagship Realty (1216 Annapolis Rd., Odenton.) For more information on the local real estate market, contact him at (443) 924-7418.
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Foreclosure Prices Rise, Highest Increase Since 2006
Foreclosure and bank-owned homes sold at an average price that was 32 percent lower than the average price of non-foreclosure homes. Foreclosure Prices Rise, Highest Increase Since 2006
