The Team of Herboso & Associates is one of the leading short sale experts in Maryland and Foreclosure Hunters for Montgomery County Maryland.
To be great at finding foreclosures , a firm needs to be dedicated full time to this endeavor. You have to understand that to overcome the stiff investors competition.. .you need to be associated with a full time Realtor that puts your best interests at heart. . bank negotiations are very trying frustrating and time consuming. We have a FULL TIME foreclosure hunter on our staff to help us accomplish these type of results..
Please contact us for a free consultation to buy a home.
For Immediate Results:
Call Fernando @ 240-8798-1848 Ext #1
Now, for the bad news!
Between 5 million to 7 million properties are potentially eligible for foreclosure and they have not yet been repossessed and put up for sale.
Where are these properties?
Not in the MLS, that is for sure. . .
In the Maryland DC and Virginia Region we are seeing a potentially huge wave of foreclosures coming in the next few months.
These numbers don’t add up. .
A huge amount in "shadow inventory" of foreclosed homes that banks are holding off the market could wreak havoc with the already battered real estate market in our area.
It has been proven, specially in the huge foreclosure markets in Florida and Las Vegas that lenders nationwide are sitting on hundreds of thousands of foreclosed homes that they have not resold or listed for sale.
What About Maryland, DC or Virginia?
According to numerous data sources, I don't expect the numbers to be as high as those areas in the country where the foreclosures crisis has affected them tremendously. . .I believe that the shadow inventory exists in the outer areas of the Metropolitan area.
For example, in Washington county Maryland around Hagerstown there are hundreds of houses that will be foreclosed in the next few months. . .ALL neighborhoods that were created after 2004 are severely underwater . .in some instances homeowners are seeing their homes below 60% from what they paid for initially. . . .
A loan modification for this people will not work unless the lender reduces the principal. .
As one of my clients told me the other day. .