Are There Any “Deals” in Crofton Real Estate?

January 7th, 2008 Categories: Real Estate

Crofton MD Real Estate -

Foreclosures, Etc. Yes, Crofton home buyers, there are some short sales, REO, pre-foreclosure and foreclosure properties in Anne Arundel County today. But you’ll only find one of them in Crofton, MD. It’s a 3–bedroom townhouse in Crofton Meadows, priced at $259,999.

Buying a distressed property could be a good “deal”, but not always. It will come with some risks, since you will buy the property in “as is” condition. In some cases, the lender may approve a short sale and you will still pay more for it than another property on the market. If the lender does not authorize payment of brokerage fees from the proceeds of sale, you could be liable for any compensation owed to your broker or agent.

This chart shows where most of the distress properties are located in Anne Arundel County today, according to MRIS (our regional multiple listing service). There are only one or two properties that fit this description in the zipcode for Arnold, Brooklyn, Crofton, Crownsville, Curtis Bay, Edgewater, Lothian, Severn, Severna Park and Shady Side – and none in other areas of Anne Arundel County. Of course, it’s possible there may be others without that information included in the listing and even more homes in that situation that are not listed at all; I am relying on data in the MRIS.

Here’s the breakdown in MRIS: 27 of these distress sales are foreclosure properties, 15 are short sales, and 17 are REO properties. Another 7 are considered pre-foreclosure. (1/7/08)

A distress sale is not the only attractive “deal” in Crofton or Anne Arundel County in this buyer’s market. There are many motivated sellers who are NOT in distress, who simply want to sell their home for relocation, divorce, or a new home. It’s likely that you can find a Crofton home seller who will pay some or all of buyers’ closing costs and even provide a home warranty. Frankly, that’s the kind of Crofton real estate “deal” that I would prefer – I’m not a fan of uncertainties!

If you’re interested in buying a Crofton home, why don’t you sign up for a free subscription to daily or weekly email updates of new and revised listings that match your search criteria. You can watch for a “deal” in Crofton real estate at your own pace, and contact me only when you’re ready to get started looking at homes.

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Data was obtained from MRIS 1/7/08. Information is subject to change without notice.

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