On daily basis, I’ll generally speak with 20-30 Real Estate Professionals via email, telephone, and multiple forms of social media. I’ll often hear “my client has an offer on a short sale….and the offer was made 120 days ago,” or “my clients just found out that they were outbid on a foreclosure.” I’m not quite sure I understand the foreclosure game…great price, big house, no appliances, and liens that pre-date the foreclosure…great deal? The last I checked, Prince George’s County had a 7.4 months inventory (not including towns or condos). In the boom years, we had a healthy inventory of around 6 months. So what’s the issue? What are buyers saying? Where are they buying? Tax credits, FHA guidelines, rising interest rates…? Change is around the corner..and we need some answers.
