Foreclosures Numbers Still High For Maryland Real Estate

Maryland real estate

Trulia lists 234 foreclosures in Laurel Maryland real estate. To buyers, this can be a positive thing. That means there are 234 homes in the Maryland real estate market that are being sold for bargain bin prices. Buyers can expect to get more home for their money and a low interest mortgage loan to boot. You’ll hear Maryland real estate analysts say it time and time again: “It’s a buyer’s market!” You can dream big and live large. I’ve moved many happy buyers into their own piece of dream Maryland real estate that was made affordable to them due to a previous foreclosure.

Unfortunately, foreclosures also spell short-term disaster for current Maryland real estate owners. No one wants to live in a neighborhood full of abandoned properties and rapidly depreciating home values. The General Assembly has been pushing for legislation that would require banks to pay a $75 annual registration fee for each foreclosure property, which would then be placed into a maintenance fund to care for all the area’s neglected homes. In places like Prince George’s County, where there is 1 Maryland real estate foreclosure for every 457 households (the highest rate in the state), the community cannot afford to sit and wait for banks and REO brokers to keep lawns looking presentable. The new changes to the Maryland real estate community take homeowners into consideration, which is a promising sign for buyers too.