MoCoRealEstate

Where Are All the Short Sales?

October 26th, 2011 Categories: Foreclosures

We frequently get calls from buyers looking for distress sales in Bethesda or Potomac.  With so many home owners in distress, surely one can get a great deal in these areas.  For sure, buyers can find distress sales in all price segments and all areas of Montgomery County.  But distress sales are still rare in our hottest and most expensive areas.  As a followup to an analysis of the number of short sales that actually close, I took a look at current inventory to see where short sales are located, and how are they priced.

The vast majority of short sales are for entry-level homes — homes priced under $400,000.  And, as expected, areas in Montgomery with the biggest inventory of entry level homes have the most number of short sales.  Still, higher-priced distress sales still come on the market.  See all luxury distress sales – short sales and bank owned properties.

Posted by Bruce Lemieux

This entry was posted on Wednesday, October 26th, 2011 at 6:34 am and is filed under Foreclosures. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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