Home Buying in 20854>Question Details

Desperate Ho…, Home Buyer in Montgomery County, MD

I am looking for a home in the 20854 zip code and wanted to know how much sellers are willing to go down in

Asked by Desperate Home Buyer, Montgomery County, MD Mon Mar 30, 2009

the prices of their homes? I am looking up to the $750K. I wouldn't mind a reo, bank-owned, foreclosure or pre-foreclosure.

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There are great neighborhoods within the 20854 Potomac zip code that are well within your price range. If this is a home for your family, you will have access to a good public school system, parks, libraries, shopping, and the arts.

However, if you are looking for investments using short sales or REO's, this zip code has held its value and very few of those offerings appear on the market.

As an area specialist, I would be glad to work with you defining your criteria and helping with your search. Mortgage money is available and if you are a first-time homebuyer, the $8000 tax credit may apply.

Please feel free to contact me at (301) 467-4498.
Web Reference: http://www.peggysouza.com
0 votes Thank Flag Link Tue Mar 31, 2009
Desperate,

Jon Tucker with RE/MAX 100. If you are looking to spend $750k for a home now, you have a much better life than your sign-on suggests. If you send me your email, I will send you appropriate listings to review. If a home like that is out there, I will make you aware of it.

There are huge values in a REO or Pre-Foreclosure. 40% of my business is Distressed.

The major problem for my clients in this income bracket are the odds of finding a home that You, Your Spouse, and the Kids would love and want to spend $750k on with a smile. They rarely "click," have a great floor plan, are in your preferred school district, a great neighborhood, and in decent condition all at the same time. Often, the length of transaction or terms are a deal breaker. Most REO's have major flaws which is why the owner could not sell and get out earlier.

My clients often start off by asking about Foreclosures. We all want a steal. Even factoring in repairs, carpet, paint, cosmetics, appliances, etc., it is rare my clients end up buying REO's for their personal residences. They often do that to acquire investment properties, but not personal homes.

I can find you a home that your wife/spouse says "this is it." We can then work to negotiate the best deal. It is a Buyer's Market.

If you are interested, I would like to work with you to acquire a great home at a great price. Thanks, Jon Tucker, 443.538.4316, TuckerRealty@comcast.net, http://www.JonTuckerHomes.com.
0 votes Thank Flag Link Mon Mar 30, 2009
Sometimes a seller is willing to take a big hit right off the bat, but my experience is that generally the sellers are still only willing to come down in smallish increments unless their circumstances are particularly compelling. Ultimately you never know what a seller is going to take until you find a house that you like and you write an offer. Short sales also tend to be less of a "deal" in my opinion than straight out REOs, and certainly if you need a home, then an REO is a quicker closing than a short sale. I would be glad to send you listings that are REOs, foreclosures, or preforeclosures, or you can check the longandfoster.com website.
Web Reference: http://www.lisehowe.com
0 votes Thank Flag Link Mon Mar 30, 2009
Hi -

The market in Potomac up to $900K has been pretty solid. Take a look at this article that discusses areas in Montgomery County -- note Potomac. http://mocorealestate.com/2009/02/08/montgomery-county-homeb…

Thanks, Bruce.
Web Reference: http://mocorealestate.com/
0 votes Thank Flag Link Mon Mar 30, 2009
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