It has been a couple of weeks since I have posted anything of significance-but today I had a few moments and thought I would just sit down to write about the market around Baltimore County.
Everyone has been talking about how "bad" the market is-but from the little bit of research I did and the amount of business that is happening-I would really have to disagree-at least from the buyer's side of things.
In Baltimore County (Including Baltimore City) as of today there are 8,877 active listings. These listings range in price from $5000 (rehab shell city) to $7.2M (Penthouse Condo on the Harbor). In the last 30 days 4,207 listings have been SOLD or are under contract!
Whether you need a 1 bedroom or 6 bedroom-1 bath or 5-Family room or basement-small lot or acreage-There is a wide variety of options. To my knowledge, there has NEVER been this much inventory on the market at a time when the interest rates have been so low to allow buyers, especially first time home buyers, the opportunity to purchase.
I had lunch with one of my lenders yesterday and I got a list of his current rates.
30 conventional: 6.0% 0 points-------15 year conv 5.625% 0 ponts
JUMBO 30 year-6.25% 0 points--------15 year 5.875 0 points
100% financing still available or do an 80/20 combo and pay no PMI.
I was shocked when he told me that he can get most products with a credit score as low as 500 and accept up to 6% seller help.
RENTERS-Think you can't afford a home of your own? If your lease is up sometime this year-contact a local Realtor-working with the right Realtor and Mortgage company, you will be amazed at how easy it can be to get into your own home!
MOVE-UP or DOWNSIZING-Need a larger home to accomodate a growing family. It will be easy to find the home of your dreams to make that move! Are you worried that you can't sell your current home to make the move? Call a local professional that specializes in your area. Choose a Realtor that will give you a free Neighborhood Market Report and a free complete home evaluation. Work with a Realtor that GUARANTEES his/her services-these will insure that you CAN GET YOUR HOUSE SOLD, so you can move to the home of your dreams.
With the inventory on the market and interest rates holding-there has never been a better time to think about home ownership. If the thought of owning your own home has even crossed your mind-you need to call a professional today and see what it would take to bring that thought to reality!
For any Real Estate information or questions on buying or selling a home in Baltimore County contact:
Stephen Luckett-Fairfax Realty
Selling Maryland 1 house at a time!
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