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 Anne Arundel County sold at a reduced price?
When looking at the median sales price, Anne Arundel County foreclosures are sold 30% 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 Anne Arundel was $315,000; while the median sales price of a foreclosure in the county was $220,000; a 30% reduction or $95,000.
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 Anne Arundel County and throughout Maryland or any home listed for sale in any Maryland county, visit http://www.marylandproperties4sale.com/AnneArundel/ .