Short sales have fallen sharply over the last few months after the expiration of a key tax break at the end of last year. Also, rising home prices have made lenders less likely to grant a short sale, The Wall Street Journal reports.
The ultimate irony for home buyers is that the stock of available ranch-style homes may eventually dwindle. Not only because more home buyers are seeing the advantages of these homes, but also because the wrecking ball continues to demolish some of the ranchers that have survived.
The study by RealtyTrac analyzed residential property sales transactions for the year ending March 2014 to pinpoint the types of distressed properties that sell at the largest discounts, comparing factors like foreclosure status, occupancy status, equity and the year the home was built.
Looking for a great starter home in Baltimore City? Check out my new listing at 3108 Wolcott Ave. in Forest Park (MLS# BA8396461). Listed for $149,000, it’s a 3-bedroom, 1 full-bath, 2 half-bath brick duplex that’s been gutted to the studs.
The home features a new kitchen with pass-through, granite counters & stainless steel appliances. Also all new:
* Ceramic baths;
* High-efficiency HVAC system;
* Plumbing system;
* Electrical system;
* Water heater;
* Recessed lighting;
* Crown moulding; and
* Large finished basement.
Plus that lovingly restored exposed brick wall!
Minutes to downtown Baltimore! Call me for more info (443) 924-7418
Home shoppers are finding there’s good reason to breathe a sigh of relief this summer, according to a recent article. Higher inventories, fewer bidding wars and slowing home prices as welcoming signs for buyers this year. So are low borrowing costs.
Congratulations Nick Peterson & April Morgan on the purchase of your new home in Bowie, Md. Thanks for choosing me as your buyer’s agent!