Waldorf, MD Foreclosure Update for August, 2008

What's Happening

    The Waldorf, Maryland housing market may be slow, but there seems to be a ton of buzz being generated by the local foreclosure real estate sales market!  A quick check of the Multiple Listing Service (MLS) shows that there are currently 31 vacant, bank owned (REO, or Real Estate Owned) homes for sale in Waldorf.

    Here's what's unique about the Waldorf market:  5 of those 31 homes have been listed in the last 31 days.  In that same 31 day period, 7 foreclosed homes in Waldorf were sold by banks.  This means that more foreclosures were sold than were put on the market!

A Tipping Of The Scales?

    It's a concept of supply and demand, and for the first time in over a year, demand is outstripping supply.  Indicators like this are the early signs that we *might* be looking at the beginning of a balance returning to the real estate market.

    You see, we need to see the sales volume out-pace the listing volume in order to balance the scales here.  Smart buyers are seeing the value in a little bit of "sweat equity" and buying a foreclosure seems to be the "in" thing to do for some folks.  Our foreclosure experts have been immensely successful in getting banks to cut their prices and make a deal with able buyers! 

Finding A Great Deal

    We have direct access to foreclosure listings and are more than happy to offer our resources, expertise, and experience to buyers, completely free of charge! Give us a call at 301-653-8116 to find out how to find a foreclosure that's right for you, or if you would simply prefer an updated list of foreclosures, simply email me and say "I WANT TO SEE FREE FORECLOSURE LISTS!"

Related Posts:

What Does "AS-IS" Mean?
Foreclosure Buying Tips Part 1
Foreclosure Buying Tips Part 2
Foreclosure Buying Tips Part 3

~Jonathan Benya
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000
301-653-8116
Southern Maryland Real Estate Blog