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 Owings Mills sold at a reduced price?
When looking at the median sales price, Owings Mills foreclosures are sold 20% 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 Owings Mills was $242,500; while the median sales price of an Owings Mills foreclosure was $195,000; a 20% reduction or $47,500.
While quite a reduction, it’s less of a discount than the entire state of Maryland (38.5%) or Baltimore County as a whole (30.2%.)
To find foreclosures listed for sale in Owings Mills and throughout Maryland or any home listed for sale in any Maryland county, visit http://www.marylandproperties4sale.com/baltimore-county/ .