maryland: Market Assessment - December 2009 - 01/12/10 10:00 AM
The December 2009 data is now available at MRIS.com for Anne Arundel County, Maryland and other metro-Washington and metro-Baltimore counties.  To quickly summarize the December data, the average sale price fell by 4.1% while the dollar volume was up 16.3% from this time last year, while month over month was down -17.5%.  The likely cause of this is the first-time home buyer credit of $8,000 bumped up the November sales but may have been offset by the traditional holiday slow down in residential sales.  Remember, this time last year we were wondering if the housing crisis would continue throughout the winter of … (0 comments)

maryland: Market Update – Rivergate, Annapolis, Maryland 21401 - 01/12/10 08:42 AM
Market Update for Rivergate, Annapolis, Maryland 21401, January 12, 2010.
There were 2 active garden unit listings on the market this morning.  The average asking price was $226,750 while the median asking price was the same.  There was 1 garden unit under contract.  The asking price was $294,900.  There were no units that had sold in the last 90 days.


If you have a home to sell in Rivergate and want a professional consultation on current market conditions or if you are interested in purchasing your next home in Rivergate and want to tour any home currently on the … (0 comments)

maryland: Market Update – Tidewater Colony, Annapolis, Maryland 21401 - 01/10/10 12:19 AM
Market Update for Tidewater Colony, Annapolis, Maryland 21401, January 10, 2010.
There were 9 active garden unit listings on the market this morning.  The average asking price was $254,963 while the median asking price was $247,500.  There were no garden units under contract.  And, there were 3 garden units sold in the last 90 days with an average asking price of $248,633 and an average sold price of $246,300 (96.20% of asking price).
There was only 1 active townhome listing on the market this morning.  The asking price was $368,900.  There were no townhomes under contract.  And, there were 3 townhomes … (0 comments)

maryland: Market Update - Windgate, Annapolis, Maryland 21401 - 01/07/10 01:03 AM
Market Update for Windgate, Annapolis, Maryland 21401, January 7, 2010.
There were 8 active garden unit listings on the market this morning.  The average asking price was $265,683 while the median asking price was $262,450.  There was 1 garden unit on the market under contract with an average asking price of $269,000.  And, there were 2 garden units sold in the last 90 days with an average asking price of $274,000 and an average sold price of $257,000 (92.51% of asking price).

There were 4 active townhome listings on the market this morning.  The average asking price was $367,873 while … (0 comments)

maryland: Forbes Ranks the Baltimore Metro Area as Fourth Most Overpriced Area in US - 12/16/09 12:04 AM
A recent Forbes article ranked the Baltimore metro area as the fourth most overpriced area in the United States.  Francesca Levy of Forbes wrote a piece titled "Where U.S. homes are most overpriced" that was republished at realestate.msn.com.
According to the December 3rd, 2009 Forbes article, the top ten overpriced metro areas in the U.S. are:
1. Orlando-Kissimmee, Florida2. Miami-Fort Lauderdale-Pompano Beach, Florida3. Jacksonville, Florida4. Baltimore-Towson, Maryland5. Chicago-Naperville-Joliet, Illinois-Indiana-Wisconsin 6. San Antonio, Texas7. Denver-Aurora, Colorado (tied)7. Tampa-St. Petersburg and Clearwater, Florida (tied)9. Indianapolis-Carmel, Indiana10. Austin-Round Rock, Texas (tied)10. Nashville-Davidson-Murfreesboro-Franklin, Tennessee (tied)
To read the original Forbes article and view the full list of the most overpriced … (2 comments)

maryland: Market Assessment - November 2009 - 12/13/09 12:45 AM
The November 2009 data is now available at MRIS.com for Anne Arundel County, Maryland and other metro-Washington and metro-Baltimore counties.  To quickly summarize the November data, the average sale price fell by 11.17% while the dollar volume was up 54.62% from this time last year, while month over month was down 11.9%.  The likely cause of this is the first-time home buyer credit of $8,000 bumped up the October sales both year over year and month over month.  Remember, this time last year we were deep into the housing crisis with little to no activity in the real estate market.  What a … (3 comments)

maryland: Home Prices Are Likely To Rise 9.22% 2014 in the Baltimore, Maryland Metro Area - 11/30/09 02:32 AM
Home Prices Are Likely To Rise 9.22% 2014 in the Baltimore, Maryland Metro Area
In a September 14, 2009 article on Forbes.com, Francesa Levy reports that "Though home prices in many areas still have room to drop, economists say some of the country's real estate markets are showing early signs of repair. A two-year slide in values has eased its stomach-turning pace, and some analysts expect the national market to bottom out by mid 2010." (For full article details, click here)
Moody's Economy.com provided Forbes with a housing rpice forecast for the country's 40 largest metropolitan statistical area or metros.  The … (2 comments)

maryland: Home Sales Should Increase Again in November Then Slump in December - 11/24/09 03:42 AM
Home sales should increase again in November then slump in December.
An article run this morning on MSNBC titled "Home sales rise to highest level in 2.5 years" reported that "Home sales surged for the second month in a row in October, climbing to the highest level in 2 1/2 years as first-time buyers rushed to take advantage of an expiring tax credit."
In Anne Arundel County, home sales last month increased by 44.25% over this time last year - 502 units vs. 348 units - and up 4.1% from September.  The average sold price declined by 7.97% over this time … (1 comments)

maryland: Pileup in the Court Room - More Lawyers Needed? - 11/03/09 12:46 AM
There's been a pileup in the court room with foreclosures cases glutting local courtrooms in Anne Arundel County, Maryland according to an article published in The Capital.  Staff Writer Elisha Sauers states in a November 1, 2009 article, there aren't enough lawyers to go around for all the struggling homeowners - legal aid lawyers, that is, willing to help struggling homeowners at reduced rates or even pro bono.
The article suggests that manditory mediation between lender and borrower might be the solution.  And states that Gov. Martin O'Malley introduced legislation last week in Maryland to require mortgage companies to participate in re-negotiations of loan terms before … (1 comments)

maryland: Market Assessment - What's Next? - 09/05/09 03:31 AM
What's next for the real estate market? Since December last year we've been on a steady climb from the bottom. But, the buyer's market is not where near over. While Months of Inventory has fallen to 8.2 months this August, last year it was 10.6. And, while that represents a 23.0% decline in available inventory in Anne Arundel County, there are still 3,706 active listings - down from 4,601 this time last year. Sold prices are off 3.4% year-over-year in Anne Arundel County, but, have declined 10.2% in Annapolis since last year. While it is optimistic to think that the local … (0 comments)

maryland: FORECAST: Housing Market 2012 - 08/20/09 05:18 AM
You might have read the online story from Business Week's June 29, 2009 issue titled Where Housing Will Be In 2012.  I was anxious to learn that the Baltimore-Towson metro area has a projected decline of 14.8% and Maryland overall has a projected decline of 12.3%.
Metro: Baltimore-Towson
What a Home Will Be Worth in 2012: $214,692
Q4 2008 price: $252,000
Projected price change by MSA: -14.8%
Projected price change by state: -12.3%
Source: BusinessWeek - What Your Home Will Be Worth in 2012
Further drops in home prices would certainly be unwelcome by most homeowners especially those who might need to sell in the next few … (0 comments)

maryland: Has Our Real Estate Market Stabilized? - 08/04/09 01:28 AM
Has the local area real estate market stabilized? Now is not the seller's market of we had in 2004 and 2005. The local area real estate market in Anne Arundel County declined slightly in July continuing the buyer's market trend. Sale volume and sales prices were down month-over-month and year-over-year. And, since April, May and June are often the best selling months of the real estate cycle, the dog days of summer lie ahead. Economic stimulus continues to drive sales of the entry level priced homes (those between $0-500K) but hasn't had much effect other price points. Now that August is … (0 comments)

maryland: Market Assessment - Are We Past Bottom? - 06/13/09 12:24 AM
Are we past the bottom of the market are do we have a ways to go? Many indicators suggest that have in moved beyond the bottom of the market. Pending sales in Anne Arundel County are up month over month for the fifth month in a row. This is a very good sign. There is no guarantee that the trend will continue. As economic conditions improve buyers who were once sidelined may now be in the market looking for a new home and buyer!!! But sellers beware; August is just around the corner and is typically one of the slowest months … (0 comments)

maryland: Market Assessment - At A Tipping Point? - 05/10/09 12:16 AM
Are we at a tipping point or do we still have a long way to go? Many indicators suggest that have reached a tipping point. While pending sales in Anne Arundel County were up over last month, there are still more listings coming onto the market than coming off. Overall inventory levels declined in the county, while Annapolis remains about the same level. The activity continues to be in the $0 to $499K price range. Although activity and prices remain below that of this time last year, there are signs that the market is starting to stabilize. A large inventory, low … (0 comments)

maryland: Market Assessment - Turning A Corner? - 04/06/09 04:25 AM
Have we turned a corner? Has the market shifted? Has spring finally arrived? Many indicators suggest that we have turned the corner. There is statistical and anecdotal evidence that a new market is evolving. Pending sales at the end of March in Anne Arundel County were at 697, up 74.7% from February. There were 45.1% more units sold in March than in February. We are seeing multiple contracts and escalation clauses for well priced properties. Homes priced below $400,000 are selling while more expensive properties continue to sit. Across the U.S. there were 3.2 million homes for sale in February, up … (0 comments)

maryland: Market Update - Annapolis Condos - 02/26/09 01:48 AM
As of February 25, 2008, there were 236 condos that had not yet sold in Anne Arundel County.  The average days on market for these condos was 191 days.  And the average asking price was $319,905.  There were 27 condos that were pending sale that had been on the market an average of 126 days with an average asking price of $236,788.  In the past 90 days 25 condos had sold.  They were on the market an average of 162 days and sold for an average price of $258,014 (92.3% off their original listing price).
In Annapolis there were 105 condos … (0 comments)

maryland: Market Assessment - Market Shift Ahead? - 02/06/09 09:32 AM
By the end of last year most real estate was in rough shape. Volume and units in January for Anne Arundel County were down 32% from December 2008. This comes as no surprise to anyone buying or selling real estate. While inventory levels and prices seem to have stabilized they are off 10% from this time last year. Market conditions may start to level out.  When looking up from the bottom of the trough one can either complain about how far the market has fallen or how much the market could go up on the next wave.
The Baltimore Metro Home Price Index … (0 comments)

maryland: Market Assessment - No Relief in Sight - 12/04/08 09:41 PM
With no relief in sight anytime in the immediate future, the government continues to flounder in its attempt to resolve the current economic crisis. Bailouts, stimulus packages, and the recession are topics of casual conversation both at home and at work. Financial gridlock could be a better term to describe the current situation.

The Baltimore Metro Home Price Index for November 2008 was down 0.8% from the month prior and down 1.7% from this time last year. The Anne Arundel County index was down 2.0% from the month prior and down 7.4% from this time last year. And, the Annapolis … (0 comments)

maryland: Have We Reached a Tipping Point? - 11/10/08 11:13 PM
The evening of November 4th was a historic night. The new President-elect faces a daunting array of challenges. One of the most important will be to halt the falling tide of home prices. More and more Americans face declining home values, overwhelming mortgage payments, and the real possibility of foreclosure. Will President-elect Obama be able to turn the tide and stop America slipping from recession into a depression?
The Baltimore Metro Home Price Index for October 2008 was down 1.7% from the month prior and down 1.8% from this time last year. The Anne Arundel County index was down 1.2% from … (0 comments)

maryland: Real Estate Market Assessment - 10/13/08 10:54 AM
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)

 
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