Prosperity Mortgage, a joint venture of Wells Fargo and Long and Foster, is offering a $500 discount on their fees for eligible first time home buyers. This non-cash offer will be applied at closing.

Contracts to purchase a home have to be ratified on or after 9/26/09 in order to qualify. Loans have to be closed no later than November 30, 2009. The time is short but the benefit is great.

Couple this with the $8,000 federal tax credit and you have a powerful incentive to move quickly on finding that first home.

For additional information and eligibility requirements you can contact Ann Burke, Home Mortgage Consultant, Prosperity Mortgage, at 410-721-6207.

If you're not already working with a Realtor buy your first home and to take advantage of the $8,000 federal tax credit, I can help. Call me at your convenience at 443-995-9595. Don't wait too long because the time is quickly running out. This is the only tax credit on the table right now, and there is no guarantee that it will get extended.

If you're SEARCHING for a home anywhere in Maryland, click here to view ALL ACTIVE LISTINGS.

 

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

 

 

Statistics in Anne Arundel County MD are in and one of the interesting pieces of data to look at is where people are getting their money to purchase homes.

As you can see, 175 buyers used FHA financing to purchase their home. FHA financing is very attractive right now because of the lower down payment requirements. If you qualify, you can get an FHA loan by putting down 3.5% of the purchase price of a home.

In Anne Arundel County MD, the number of conventional loans were just under those funded by FHA.

VA loans are still popular because you can get a VA loan without putting any money down. Considering the amount of military installations in the county, VA loans will continue to remain popular.

I don't know about you, but I was surprised to see that 41 homeowners were able to purchase their house with cash. I'm impressed, considering the Average Price of a home in Anne Arundel County MD was $360,557.

 

If you're SEARCHING for a home anywhere in Maryland, click here to view ALL ACTIVE LISTINGS.

 

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

 

  

	2009	2008	% Change
Sold Dollar Volume	$3,784,785	$3,443,400	+9.91%
Average Sold Price	$344,071	$430,425	-20.06%
Median Sold Price	$290,000	$391,500	-25.93%
Total Units Sold	11	8	+37.50%
Average Days on Market	187	148	+26.35%
Average List Price for Solds	$397,368	$469,507	-15.36%

Gambrills MD is a large, spread out community, but rarely has the number of sales of neighboring communities like Crofton and Odenton MD. This is due to the more rural nature of Gambrills MD. Many of the homes in Gambrills MD are on multiple acres, unlike Crofton and Odenton MD.

Total sold dollar volume seems to have stabilized and actually increased almost 10% when comparing August 2009 to August 2008.

Both average and median prices are down reflecting more purchases in the lower price ranges. You can see this pretty clearly from the Average List Price for Solds data row. A reduction of -15.36% from last year.

Days on the Market to sell a property increased +26.35% in Gambrills. It now takes, on average, 187 days to sell your Gambrills MD home. Gambrills MD is a wonderful community with excellent home values.

If you're SEARCHING for a home in Gambrills MD, or any other city in Maryland, click here to view ALL ACTIVE LISTINGS.

 

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

	2009	2008	% Change
Sold Dollar Volume	$9,072,291	$16,591,700	-45.32%
Average Sold Price	$348,934	$345,660	+0.95%
Median Sold Price	$342,000	$297,000	+15.05%
Total Units Sold	26	48	-45.83%
Average Days on Market	59	85	-30.59%
Average List Price for Solds	$380,357	$367,389	+3.53%

The Crofton MD real estate market took quite a hit when comparing August 2009 to the same period in 2008. A 45% reduction in the sales volume and units sold is very uncharacteristic of the Crofton MD market. I don't believe that there is any specific reason to point to, especially since overall sales in Anne Arundel County were up once again.

It does seem though, that new listings are selling quickly. This can be evidenced by the Average Days on Market reduction of -30.59%. That is a pretty big reduction from the same period last year. Inventory is down and good priced listings are selling, in some cases with multiple contracts.

Median and Average sales prices are creeping up but in reality, that is just a reflection of higher priced homes being sold during this period. Oddly, since the first time home buyers market is the one that is very active right now, many of the homes that sold in Crofton MD were in the price range over $500,000. Certainly not a first time home buyers range.

The sales statistics for Crofton MD will stabilize again. Right now, the real estate market in Crofton MD is pretty robust and that doesn't seem to be changing any time soon.

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If you're SEARCHING for a home in Crofton MD, or any other city in Maryland, click here to view ALL ACTIVE LISTINGS.

 

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

 

A slow week after Labor Day saw Crofton MD with four houses going to settlement. Once again, three of the settlements were in the price range below $250,000. This is the price range which is the sweet spot for first time home buyers. The fourth house was a nice Colonial priced at $403,000.

So what did last week tell us about potential future settlements? Three houses in Crofton MD moved to the Contract stage. At this point, all contingencies are removed and settlement is approaching.

No houses went under contract with a kickout.

Five houses went under contract with no kick out. Some contingencies still exist but a contract with no kick out is pretty solid. 

Three new rentals became active last week in Crofton MD. Monthly rental prices ranging from $1,325 to $1,800.

Eight houses became Active in the Crofton MD market. Three of them priced below $300,000 continue to provide a good selection of inventory to choose from for first time homebuyers.

This is just another reminder for first time home buyers that the $8,000 tax credit is set to expire on November 30th. You should be out there seriously looking in order to be able to settle before November 30th. You still have a little time but don't delay.

If you're not already working with an agent to get into your first Crofton MD home, I can help. Just call me at your convenience at 443.995.9595.

Overall, not a bad week for Crofton MD home sales. 

If you're SEARCHING for a home in Crofton, MD or any other city in Maryland, click here to view all ACTIVE LISTINGS.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

 

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

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All photos and written content were produced by Richard Iarossi. Copyright 2009 - All Rights Reserved. This content may not be reproduced or reprinted, except for Active Rain Re-blogging, without express written permission of Richard Iarossi, REALTOR®, Long and Foster® Real Estate, Inc., Crofton, MD.

 

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

---

All photos and written content were produced by Richard Iarossi. Copyright 2009 - All Rights Reserved. This content may not be reproduced or reprinted, except for Active Rain Re-blogging, without express written permission of Richard Iarossi, REALTOR®, Long and Foster® Real Estate, Inc., Crofton, MD.

"Dance like no one is watching,
love like you'll never be hurt,
sing like no one is listening,
and live like it's heaven on earth."

- William Purkey

 

 

 

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If you're SEARCHING for a home in Crofton, MD or any other city in Maryland, click here to view all ACTIVE LISTINGS.

 

 

 

 

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
410-451-6255 Office
443-995-9595 Cell

Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

 

The real estate statistics are out for August 2009, and Anne Arundel County MD continues to show signs of positive home sales trends.

August 2009 posted 464 homes/townhouses/condos sold. This figure is 3.3% higher than the 449 sold in August of 2008.

While the median sales price did go down by -8.4%, compared to August of 2008, this appears to be a reflection of the number of first time home buyers in the market right now. First time home buyers are generally picking up homes under $300,000, and there are a lot of them trying to take advantage of the $8000 tax credit. This first time home buyer tax credit, if you qualify, will only be given on a home settled by November 30, 2009.

Single family home inventory is down -19.1% compared to August 2008. Townhouse/condo inventory is down -13.5% in the same time period. More homes are selling, and while there is still a large selection, those sold now aren't being replaced by new inventory at the same rate as the last couple of years.

One of the indicators of future performance in the housing industry is pending sales. This category increased by +44.5% when compared to August of 2008. The next few months are already on the upswing with plenty of time to add new sales.

Anecdotally, I have seen, and participated in, several multiple contract situations. It doesn't happen on every offer but it definitely is happening more frequently than in the past few years.

Is the housing slump completely turned around in Anne Arundel County MD. Probably not, but the upward indicators of the past few months do seem to be telling us that the worst may be over. While it is still a strong buyers market, the stats are showing us that that may be changing soon.

If you're SEARCHING for a home in Crofton, MD or any other city in Maryland, click here to view all ACTIVE LISTINGS.

 

 

 

 

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
410-451-6255 Office
443-995-9595 Cell

Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

 

 

Reserve the date to give blood through the American Red Cross right here in Crofton MD.

Date: October 6, 2009 (Tuesday)
Time: 2:00 PM to 8:00 PM
Location: St. Elizabeth Ann Seton Parish
               1800 Seton Drive
               Crofton, MD 21114

Here is another opportunity to recycle right here in Crofton MD. A unique recycling effort no doubt. Recycle your blood to help someone in need.

If you're looking for just that little extra bit of incentive, a donation to Susan G. Komen for the Cure will be made on behalf of all donors. I'm not sure but they'll probably have cookies too.

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Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
410-451-6255 Office
443-995-9595 Cell

Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved