maryland short sale agentI wanted to tell you about a house I just did a short sale on in Maryland. It was a 4 bedroom 2/12 bath in Germantown md. The home owner relocated because of a new job.

He wanted to sell his house fast but was way underwater. He actually owe the bank 652k on a house that was only worth about 475k. We did a shortsale on his Maryland home negotiated with the bank which was chase at the time and was able to get this home approved for $246k dollar discount.

The bank came back and approved this house at $406k. The first day I put this house on the market my cell phone number 202-641-6882 was ringing off the hook with buyers and agents calling me wanting to know how they could view this home.

Keep in mind that this short sale would allow a new home owner to have a instant 69k in equity. I had to put the Maryland home buyers off because I had not received the keys yet from the seller. I got the keys and the first day I got offers from everybody including, maryland cash buyers, real estate investors and 1st time home owners.

by the beginning of the 3rd day I had 16 offers on this maryland short sale home. Has the market truly turned around back to a sellers market or was just home just in such a big demand because of the maryland area ?

We heard everything from I will buy this house fast, we can close quickly to my client really wants this house.

We took the 8 best offers and made them come back with their highest and best offer. After the smoke cleared one offer was truly attractive which was about 464k we agreed to sell them the house for $450k because this wasn’t an ugly house and at $450 they where still getting a good deal.

Now I’m Maryland real estate agent and short sale specialist but have never experienced such a demand on one home. So again I ask have we switched back over to a seller market ? have the cash buyers brought up a lot of the inventory and making it hard for regular home owners to find good deals.

I just received another shortsale deal in bowie maryland and I’m expecting this property have that same type of experience – cash buyers, shortsale agents if you need a short sale or a maryland cash buyer please call us at 202-641-6882

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