Six to Twelve More Months - 10/29/08 07:23 AM
We're not there yet.  We can expect six to twelve more months of declining home prices.  Although not all gloom and doom, "Home prices have already tumbled 20% from their peak three years ago, and will probably sink another 10% before stabilizing. Some 12 million homeowners currently owe more on their mortgages than the houses are worth..." as reported in June Fletcher's article today in The Wall Street Journal.
Although Annapolis, Anne Arundel County, and much of Maryland has been relatively immune from foreclosures, they do exist.  Everyone knows someone (whether they realize it or not) who may be in trouble and might … (0 comments)

What You Can Do to Avoid Foreclosure - 10/28/08 05:39 PM

Via Amy Cordell:
RISMEDIA, May 27, 2008-(MCT)-Mortgage broker Joe Adamaitis spends much of his time in Florida, where foreclosure is almost an epidemic. But the story that sticks out in his mind is that of a Manchester, NH woman who called him one day looking for advice.
The subprime lender who issued her mortgage had gone out of business and the woman's adjustable interest rate had jumped to 10 percent - well beyond what she could comfortably afford.
Eventually, the woman was able to negotiate down to a 5 percent fixed rate, which dropped her monthly mortgage payment by nearly $1,000. But … (0 comments)

Once In A Centry Credit Tsunami - 10/24/08 08:30 AM
Alan Greenspan called current conditions a "once in a century credit tsunami".  You can read more about Greenspan's comments in front of the House Oversight Committee on the FOXNews Website.
… (0 comments)

Real Estate Market Assessment - 10/13/08 05:54 PM
For the sixth month in a row, inventory levels remain above the 4,500 level. In September the number of active units in Anne Arundel County trended down 1.1% and was down 2.0% from last year. The average sold price was $403,687 and was down 8.5% from last year. The pending transaction to active listings ratio was 9.5% up from 9.2% last month.
In Anne Arundel County in September the total sold volume was down 3.9% from August. The average sold price in September was up 7.3% from August. The number of homes sold in September was down 10.4% from August. And, … (0 comments)

Home Price Indexes Continues Decline - 10/03/08 09:25 AM
The S&P/Case-Shiller Home Price Indexes were released on Tuesday, September 30th. According to the data prices the Washington DC metro area fell 15.8% in July 2008 from the same period last year while only falling 1.1% from June 2008. In Anne Arundel County the home price index for July 2008 was down 5.1% from June 2007 but the index was down only 0.1% in July from June. In Annapolis the home-price index was up 1.6% in July 2008 over one year ago and the index was up 1.3% in July over June.
Although the Washington DC metro area S&P/Case-Shiller Home Price … (0 comments)

 
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Stephen Howell

Selling Annapolis MD Luxury and Waterfront Homes

Annapolis, MD

More about me…

Coldwell Banker Residential Brokerage

Address: 170 Jennifer Road Ste 102, Annapolis, MD, 21401

Office Phone: (410) 224-2200

Cell Phone: (443) 994-8043

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Real Estate Market Assessment, Conditions, and Outlook for Maryland, Anne Arundel County, Annapolis and the surrounding areas of Arnold, Crownsville, Riva, Edgewater, and others.

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