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Forbes Ranks the Baltimore Metro Area as Fourth Most Overpriced Area in US

By
Real Estate Agent with Coldwell Banker Residential Brokerage

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, Florida
2. Miami-Fort Lauderdale-Pompano Beach, Florida
3. Jacksonville, Florida
4. Baltimore-Towson, Maryland
5. Chicago-Naperville-Joliet, Illinois-Indiana-Wisconsin
6. San Antonio, Texas
7. Denver-Aurora, Colorado (tied)
7. Tampa-St. Petersburg and Clearwater, Florida (tied)
9. Indianapolis-Carmel, Indiana
10. 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 metro areas in the U.S. go here Forbes.com.

The interactive table in the Forbes article ranks the Baltimore metro area ninth (9th) when looking at Properties with Price Reductions, eight (8th) when considering List Price versus Absorbed Price, tenth (10th) in Days On Market, and twenty-first on the Five Year Price Forecast.

Quantifying what buyers, sellers and their real estate agents already intuitively know will not change the situation.  Sellers who can price to the current market or get out ahead of the current declining market will get their homes sold first.  Other sellers who cannot or will not make price adjustments will continue to see their home go unsold.  Buyers almost always instinctively know before sellers where the market is and where it is likely to go.

Posted by

Stephen Howell, Sales Associate, Coldwell Banker Residential Brokerage, Annapolis, MarylandIf you are interested in buying a home in Annapolis, Maryland or the surrounding area and want to tour any property currently on the market, or if you have a home to sell in Annapolis, Maryland and want a professional consultation on current market conditions, please contact Stephen Howell at 443-994-8043 or e-mail him at showell@liveinannapolis.com or visit his website at LiveInAnnapolis.com.

Stephen Howell came to Annapolis to enjoy the Chesapeake bay in 1994. What he discovered was a whole new lifestyle. Ever since Stephen Howell has been successfully helping others make the most of Annapolis, Maryland. You'll find that with the right professional by your side, you can Live the lifestyle and live, work and play in Annapolis Maryland.

Stephen Howell and Jackson (his hound-mix from the HSSC) maintains residences on the Chesapeake Bay in Annapolis, Maryland and Gulf Coast in Sarasota, Florida. He works in the Annapolis, Maryland real estate market. His website lets people search the Annapolis Maryland area MLS. Buyers can also search for waterfront homes along the Cheasapeake Bay. His website has current real estate data on Annapolis, Maryland.

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Comments (2)

Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Stephen,  That is a bit surprising to me, as I was thinking it would be more CA, AZ & FL!  This so goes to prove that prices are LOCAL!  Interesting.  All the best, Michelle

Dec 16, 2009 08:05 AM
Stephen Howell
Coldwell Banker Residential Brokerage - Annapolis, MD
Annapolis MD Homes For Sale 443-994-8043

Michelle,

Florida holds spots one through three while major metro-California still making the list of top 40 now rank at the bottom.  California sellers may now be more realistic about selling their home while metro-Baltimore area sellers continue to hold onto over inflated values of their homes!!!

Stephen

Dec 16, 2009 11:33 PM