18 Odenton Short Sales & Foreclosures Under $300,000
Local homebuyers looking for market information invariably ask Realtors for lists of distressed properties being sold as part of the foreclosure and short sale process. So what does the current crop of foreclosures and short sales in Odenton look like? If you’re looking to buy a foreclosure or short sale priced under $300,000, there are 18 such properties in town, with a variety of amenities.
When it comes to location, Odenton’s Piney Orchard community has eight of the 18 short sales and foreclosures priced under $300,000, Seven Oaks contains six such properties and Maple Ridge contains two. The two other properties are located elsewhere in Odenton.
With regard to the type of homes available, seven of the distressed properties are townhouses, five are condominiums, four are duplexes and two are detached homes.
In terms of age, three of the 18 properties are less than 10 years old, 10 are between 11 and 20 years old, and five are older than 20 years.
Finally, in a sign that the local housing market may be absorbing distressed homes a little faster than the rest of the country, 10 of the 18 distressed properties have been on the market less than three months, six have been on the market between three and nine months and two have been on the market for more than a year.
Here is a current list of the 18 Odenton foreclosure and short sale properties priced under $300,000.
Short Sale/ Foreclosure |
Price |
MLS No. |
Address |
Home Type |
BRs |
BAs |
Garage Spaces |
|
SS
|
$149,000
|
AA7904527 |
1113 PATUXENT RD |
DETACHED |
1 |
1 |
0 |
SS |
$154,900 |
AA7884444 |
1320 TENBROOK RD |
DUPLEX |
3 |
1 |
0 |
SS |
$173,900 |
AA7770320 |
2504 AMBER ORCHARD CT W #102 |
CONDO |
2 |
2 |
0 |
SS |
$185,000 |
AA7885308 |
701 HARVEST RUN DR #303 |
CONDO |
2 |
2 |
0 |
SS |
$194,800 |
AA7750074 |
316 ROFF POINT DR |
TH |
3 |
2 |
0 |
SS |
$195,000 |
AA7780926 |
2493 AMBER ORCHARD CT E #102 |
CONDO |
2 |
2 |
0 |
F |
$216,240 |
AA7873505 |
203 LANGDON FARM CIR #81 |
TH |
4 |
3.5 |
0 |
SS |
$218,083 |
AA6568951 |
700 ORCHARD OVERLOOK #304 |
CONDO |
2 |
2 |
0 |
SS |
$234,900 |
AA7910966 |
8638 WILLOW LEAF LN |
TH |
2 |
2 |
0 |
SS |
$249,000 |
AA7747447 |
1323 GREYSWOOD RD |
DUPLEX |
4 |
1.5 |
0 |
SS |
$249,900 |
AA7657072 |
2602 SUMMERS RIDGE DR |
TH |
3 |
3 |
0 |
SS |
$249,900 |
AA7890389 |
1244 ROUNDTOP RD |
DETACHED |
3 |
1.5 |
0 |
SS |
$252,000 |
AA7918777 |
105 LANGDON FARM CIR #57 |
TH |
3 |
2&2 |
0 |
SS |
$255,000 |
AA7849496 |
120 LEEDS CREEK CIR |
DUPLEX |
3 |
3.5 |
0 |
SS |
$260,000 |
AA7856125 |
2235 CANTEEN CIR #144 |
TH |
3 |
2&2 |
0 |
SS |
$295,000 |
AA7849459 |
1850 SCAFFOLD WAY |
DUPLEX |
3 |
2&2 |
1 |
SS |
$299,000 |
AA7588977 |
8714 THORNBROOK DR |
TH |
3 |
2 |
0 |
SS |
$299,000 |
AA7852453 |
8608 FLUTTERING LEAF TRL #207 |
CONDO |
3 |
2 |
1 |
Jerry Kline is a Realtor with the Odenton, Md., office of Keller Williams Flagship Realty (1216 Annapolis Rd., Odenton). For more information on the local real estate market, contact him at 443-924-7418, or visit his blog (www.JerryKlineRealtor.wordpress.com) or website
(www.JerryKline.kwrealty.com).
Patrick H.
8:05 am on Tuesday, September 4, 2012
This is good information. Can you explain just how a short-sale works and what the sales process is like (i.e. - are they eligible for convention loans, VA loans, how much down is expected, are these firm prices, who are we purchasing from, etc.).
Thanks for the information.
Jerry Kline
10:00 am on Tuesday, September 4, 2012
Your question is a broad one, so I'll tackle it more completely in an upcoming post. But briefly, short sales are a situation where the current owner of a home owes more on their mortgage than a sale of the property will produce, and the homeowner is unable or unwilling to make up the difference at closing. The seller may or may not be in pre-foreclosure. Banks holding the homeowner's mortgage may consider a short sale of the property to a new buyer to reduce the bank's losses should the current homeowner default. Thus short sales must be approved by the lender. Obtaining bank approvals on short sales can take considerable time - often several months -- and there's no guarantee the short sale ultimately will be approved. This is a real disadvantage to a buyer because a short sale can tie up the buyer's money for an extended period of time with no guarantee the transaction will go through. Feel free to call me to discuss the issue further.
John
10:18 am on Tuesday, September 4, 2012
Experiences vary but my sister tried to purchase a house last year; short sale. After 6 months it ended up going nowhere since the comps in the area still didn't support the price of the home and the bank wasn't willing to play past a certain number.
Patrick H.
1:28 pm on Tuesday, September 4, 2012
Thank you Jerry and John. We will take a look at the list you were able to provide for us and if any look worth further investigation will contact you were the one that provided the initial information. It sounds as if you can give us a good starting point in making an initial offer. The information you provided is an adequate summary at this point and helpful. I look forward to your future posts on this issue.
John
10:15 am on Monday, September 10, 2012
Do you know what is going on with the property on Springhill way you had listed last time? Grass is about waist high now.
Jerry Kline
6:16 pm on Monday, September 10, 2012
Hi, John,
1030 Springhill Way is still actively for sale. I talked with the listing agent, who confirmed that the asking price is still $349,500. It's a four-bedroom, 2 bathroom home that's been on the market for 92 days now. There are a couple of other details I'd feel more comfortable sharing with you offline. My email is JerryKline@kw.com. Thanks!