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.
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.
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