Bowie MD Real Estate - Bowie Foreclosures
By Richard Iarossi, Crofton MD Real Estate, Annapolis MD Real Estate
(Coldwell Banker Residential Brokerage)
Bowie, MD has been one of those areas in Suburban Maryland that has been hardest hit by foreclosures. Homes that complete the foreclosures process become bank owned properties and are listed with a local real estate brokerage for sale. The purchase of a bank owned property isn't much different than a normal resale. Bowie, MD has had 619 homes sold between January 1, 2010 to July 31, 2010. 227 of these homes have been bank owned (foreclosed properties). So far this year 37% of properties in Bowie, MD have been foreclosures. Bank owned properties are usually sold "as is," and the offer has to go to someone in the bank for a approval. A few extra addenda here and there and you can be the owner of a bank owned property. Right now there are seventy one bank owned properties for sale in Bowie...
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