Community Corner
Howard Foreclosures: Do Buyers Save Money?
Many potential homebuyers will consider buying a foreclosed home because conventional wisdom says they will be able to purchase a home at a discount. Yet are foreclosures in Howard County sold at a reduced price?
When looking at the median sales price, Howard County foreclosures are sold 29% less than the average non-distressed home (not a foreclosure or short sale.) According by RealtyTrac, the nation’s largest foreclosure reporting firm, in September of 2013, the median sale price of a non-distressed home in Howard was $390,000; while the median sales price of a foreclosure in the county was $275,100; a 29.5% reduction or $144,900.
While quite a reduction, it’s less of a discount than the entire state of Maryland (38.5%.)
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To find foreclosures listed for sale in Howard County and throughout Maryland or any home listed for sale in any Maryland county, visit http://www.marylandproperties4sale.com/Howard/ .