Just a quick reminder that I have moved my main blog over to Bluehost using the wordpress.org platform.
CLICK HERE TO SIGNUP FOR BLUEHOST.COM NOW.
I have also created a few other blogs with my extra webspace. You might want to go check them out at:
Focus On Frederick.com a Frederick Area Blog
Bob's Brain Dump.com just my technology release a new version from my other one at http://bobsbraindump.blogger.com
I have also created a group Blog (not yet implemented) at Focus On Mt Airy.com for Mt Airy Real Estate and info.
I also have a static Real Estate Web page over at Got Bob 4 Homes.com about Frederick MD Real Estate
You can read some more info about Frederick MD Real Estate here too.
Have a great day.
Friday, November 23, 2007
Saturday, June 23, 2007
Monday, December 11, 2006
Is there a twinkle of hope on the horizon???
If you listen to the media... we are still in a housing slump. They love to cause chaos and fear. It's all for the ratings... NAR (National Association of REALTORS (r) has released statements that this seems to be as low as it gets. (it may stay flat but won't get worse) The word must be getting around. In my little world, I am starting to see more and more activity happening. My phone is beginning to ring again. (Here I have be blaming Verizon all this time.) Historically, this time of year is slow, regardless of the market conditions. But I am seeing more activity with my colleagues also.
Looking at the condos from last month there was an increase in contracts over last year. A 43.5% jump actually... This is a good sign of things to come. Inventory in Frederick and Washington counties seem to be dropping off (1675 active listings). A couple things could be happening here... Sellers are waiting for the spring market or they have dropped anchor and decided to stay awhile. The sales have not lowered the inventory, the sellers have. Hopefully this leveling is stays steady for a while. Too much inventory is not healthy either. As for the prices, surprisingly the average is still up in Frederick by just a little. Average Sales price is $347,386 and the median sales price is down by 2.04% to $311,950. So, what does that say? Buyers are looking at a lower price range, but the prices of the house are about the same as last year. What I am seeing in most prices, yes some are lowering in overpriced neighborhoods, but for the most part it is not the value of the home that is going down, its the seller's situations. If you haven't been paying attention to the media (they are right about one thing), the first steps of the ARMs are starting to appear. Some sellers cannot afford the increase, forcing them to price below market price. The other situation, sellers have been caught up in between houses (new construction homes)...forcing them to drop the price to get a buyer. Builders don't care what your situation is...they built a house for you...you're buying it. Now, builders have also found themselves in a sticky situation with too much inventory on the books. They have deeper pockets than most sellers, so they offer 1000s of dollars in upgrades on their already drastically reduced homes in order to get a sale before the end of the year. Unfortunately this has/will have affected your future appraisals and prices along with the other seller's personal situations. There is no getting by it. When you gotta go, you gotta go.
It will be interesting to see what the spring market has to offer. Stay tuned for more!!!
Here are some stats from last month in Frederick County
Washington County last month;
105 solds
1245 active listings
113 Days on Market
91.2% of list price.
Washington county is also seeing buyers looking at much lower priced homes. The average was down by 2.82% to $248,904 with a median price of $225,000 (down 4.26%) You can count on one hand how many homes over $450,000 sold last month.
Looking at the condos from last month there was an increase in contracts over last year. A 43.5% jump actually... This is a good sign of things to come. Inventory in Frederick and Washington counties seem to be dropping off (1675 active listings). A couple things could be happening here... Sellers are waiting for the spring market or they have dropped anchor and decided to stay awhile. The sales have not lowered the inventory, the sellers have. Hopefully this leveling is stays steady for a while. Too much inventory is not healthy either. As for the prices, surprisingly the average is still up in Frederick by just a little. Average Sales price is $347,386 and the median sales price is down by 2.04% to $311,950. So, what does that say? Buyers are looking at a lower price range, but the prices of the house are about the same as last year. What I am seeing in most prices, yes some are lowering in overpriced neighborhoods, but for the most part it is not the value of the home that is going down, its the seller's situations. If you haven't been paying attention to the media (they are right about one thing), the first steps of the ARMs are starting to appear. Some sellers cannot afford the increase, forcing them to price below market price. The other situation, sellers have been caught up in between houses (new construction homes)...forcing them to drop the price to get a buyer. Builders don't care what your situation is...they built a house for you...you're buying it. Now, builders have also found themselves in a sticky situation with too much inventory on the books. They have deeper pockets than most sellers, so they offer 1000s of dollars in upgrades on their already drastically reduced homes in order to get a sale before the end of the year. Unfortunately this has/will have affected your future appraisals and prices along with the other seller's personal situations. There is no getting by it. When you gotta go, you gotta go.
It will be interesting to see what the spring market has to offer. Stay tuned for more!!!
Here are some stats from last month in Frederick County
Washington County last month;
105 solds
1245 active listings
113 Days on Market
91.2% of list price.
Washington county is also seeing buyers looking at much lower priced homes. The average was down by 2.82% to $248,904 with a median price of $225,000 (down 4.26%) You can count on one hand how many homes over $450,000 sold last month.
Friday, November 17, 2006
Tips for a Smoother Loan Process
Here is something I picked up from my friends at Prosperity mortgage...It's some quick do's and don'ts to help you get through the mortgage process.
DO
DON’T
DO
PROVIDE ALL DOCS FOR THE SALE OF YOUR CURRENT HOME. (IF YOU ARE SELLING ONE) EX: SALES CONTRACT, CLOSING STATEMENT, EMPLOYER RELO/BUYOUT PROGRAM.
NOTIFY YOUR LOAN OFFICER IF YOU PLAN ON RECEIVING GIFT FUNDS. NO CASH GIFTS!
NOTIFY YOUR LOAN OFFICER OF ANY EMPLOYMENT CHANGES. EX:CHANGE OF EMPLOYER, RECENT RAISE OR PROMOTION, CHANGE IN PAY STATUS SUCH AS MOVE TO SALARY OR COMMISSION STATUS.
DON’T
- CHANGE JOBS / EMPLOYER WITHOUT INQUIRING ABOUT HOW THIS WILL IMPACT THE APPROVAL OF YOUR MORTGAGE LOAN
- MAKE MAJOR PURCHASES DURING AND PRIOR TO LOAN CLOSING EX; BUYING A NEW CAR, LARGE FURNITURE, APPLIANCES, OR ELECTRONICS. THIS COULD IMPACT YOUR QUALIFYING DEBT RATIOS. TALK TO YOUR LENDER BEFORE MAKING THE PURCHASES.
- OBTAIN OR DEPOSIT LARGE SUMS OF MONEY OVER $500 WITHOUT NOTIFYING YOUR LOAN OFFICER. LENDER GUIDLEINES WILL REQUIRE THAT THE SOURCE OF THESE MONIES IS DOCUMENTED.
- OPEN, CLOSE, OR TRANSFER ANY STOCK, SAVINGS, OR OTHER ASSETT ACCOUNTS WITHOUT FINDING OUT FROM YOUR LOAN OFFICER WHAT DOCUMENTATION WILL BE REQUIRED FOR YORU LOAN FILE.
- OPEN OR INCREASE ANY LIABILITIES (CREDIT CARDS , SIGNATURE LOANS, ETC) DURING THE LOAN PROCESS.WITHOUT CHECKING WITH YOUR LOAN OFFICER TO FIND OUT HOW THIS WOULD IMPACT YOUR MORTGAGE LOAN.
Now how about some numbers around Frederick County.
Total active homes on the market today......... 1816
New to market last 2 days.................................29
Under contract the last 7 days.............................53
Couple other numbers to know.
Saturation Rate. Frederick is about 12.5% (that means only 12.5% of the homes sell any given month) you have about a 1 in 9 chance of selling this month.
Washington County is sitting on 9.5% or 1 in 11 chance in selling.
Click here to see last month's Housing report.
Tuesday, October 17, 2006
Update on the GMA house
Well, it still has not sold. But the neighbor's did for $295,000 in 3 days. They are looking to rent now at $2,500...that still doesn't match up. Doesn't seem to be a $2,500 rent neighborhood to me...Sounds like some Seller Denial to me... Price is king in this era.
Here is the Frederick County Housing Report
You can find Washington County and others stats about the market here
Here is the Frederick County Housing Report
You can find Washington County and others stats about the market here
Wednesday, October 04, 2006
Different day...same ole story
It's been a while, I know... Not much has changed in the market lately. We are still battling long days on market and high inventories. Interest rates have actually dropped over the last few months. Encouraging but not enough to bring the buyers out of hiding. You know its bad when GMA's real estate challenge.. "How to Sell your House in One Week" can't sell. They staged the house, priced it aggressively and prepared for an Open House. Now let's see what is different here for us normal realtors... National coverage, they had a radio station promoting it at the house, they had 80 people thru the house and only 3 were "interested" buyers... And they couldn't sell!!! Even they were lost for words. This is the reality of the market... slow. (or just slower, much slower, than we have been used to) This is is considered a normal market... at least that is what I keep telling myself. Now on to the numbers... take a look at the numbers from the past...not much change.
Total active homes in Frederick County.... 1896
New in the last 2 days.........60
Under contract last 7 days....71
Total active homes in Washington Cty.....1237
New in the last 2 days........23
Under contract last 7 days...20
Total active homes in Frederick County.... 1896
New in the last 2 days.........60
Under contract last 7 days....71
Total active homes in Washington Cty.....1237
New in the last 2 days........23
Under contract last 7 days...20
Thursday, August 31, 2006
ABC News talks about the national housing bubble
Here are some ABC news experts talking about the national housing market conditions. http://mail.longandfoster.com/exchweb/bin/redir.asp?URL=http://abcnews.go.com/Video/playerIndex?id=2351163
Take a look and tell me what you think. I have mentioned some of this in the past. Buyers have great opportunity, but have been scarce. Some sellers have not woke up to reality!
Here are the current numbers for Frederick and Washington county.
Frederick
Total.....1899
New last 2 days...54
Under contract last 7 days...74
Washington County
Total active listings.....1226
New last 2 days...31
Under contract last 7 days...28
Take a look and tell me what you think. I have mentioned some of this in the past. Buyers have great opportunity, but have been scarce. Some sellers have not woke up to reality!
Here are the current numbers for Frederick and Washington county.
Frederick
Total.....1899
New last 2 days...54
Under contract last 7 days...74
Washington County
Total active listings.....1226
New last 2 days...31
Under contract last 7 days...28
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