mdrealestateblog.com

In the Baltimore, MD region, pending home sales are up +27% from 2010. Couple this with a declining inventory, low interest rates, and it should be a prime time for buyers. As it turns out though, tougher underwriting standards for loans is still depressing the available market somewhat.

What does the future hold? Forecast of +2.5% GDP growth, and a stronger jobs market going into 2012 bodes well for real estate in teh Baltimore, MD Region.

Days on Market is one of those questions that many buyers ask their real estate agent. It’s also one of those questions that needs further research. I can help you better understand why a home has sat on the market for a while.

Was the house listed too high? What was the condition? Were there any restrictions on showing, etc?

That being said, Odenton, MD homeowners can see a graph of the Average Days on Market going back to November of 2008. As you can see, the data shows that the Average Days on Market is pretty volatile.

For sellers, the decrease in Average Days on Market is good news. For buyers, it’s still time to strike while prices and mortgage rates are still excellent.

If you’re looking for a house to buy or sell in Odenton, MD, or the surrounding area…I can help. Call Rich at 443-995-9595.

You can view all Odenton, MD homes for sale on the map below. Just click on any icon and you will see the listing details for all Active listings.

Crofton, MD is one of the premiere destination points for buyers in Anne Arundel County, MD. Buyers can find excellent value in all price ranges and styles, while enjoying the unique amenities in the Crofton area.

First time home buyers aren’t excluded from the Crofton, MD real estate market either. While the average sold price is over $325,000, there are currently 21 homes for sale in Crofton, MD that are under $200,000.  Some are foreclosures, some are short sales, but a number are regular resales as well.

If you’re a first time homebuyer, and looking for a home under $200,000, than Crofton, MD should be on your search list.

All of the Crofton, MD homes for sale in this price range can be found on the map below. Just click on any icon and get full details.

If you’re not already working with a Realtor to find a home in Crofton, MD, or the surrounding area, I can help. Call Rich at 443-995-9595.

The October 2010 Crofton, MD, real estate sales numbers are in for zip code 21114, and as you can see, there has been a softening in many areas.

Sales are down -16.35%, but when you compare that to the -37.5% reduction in Anne Arundel County, Crofton home sales are holding up better.

We have to make sure we don't tend to overinterpret the real estate statistics, because we're dealing with a small base. A couple of sales either way and the percentages can swing wildly.

One figure that has been pretty stable over the past few months is the average sold price. We haven't seen significant downward pressure on prices in Crofton for most of this year. That, coupled with the fact that the list to sales ratio if 93%, indicates that home prices are about where they should be for this market.

If you're interested in buying or selling a Crofton, MD home, or a home anywhere in the area, I can help. Call Rich at 443-995-9595.

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 Crofton, MD real estate market was pretty busy last week all around. You always have to remember the maxim, “all real estate is local,” when you read the newspaper, and listen to real estate stories on TV.

On the rental side, three new rental listings were added, making a total of 17 rentals now available in Crofton, MD. All three that came on the market were townhouse condo style units, ranging in price from $1,325 to $1,700. Three applications were registered on existing rentals, and six units were rented. The rental market in Crofton is still pretty robust.

Eleven new listings came on the market, making the total homes for sale in the Crofton, MD inventory 154. The new listings ranged from a 2/1 condo listed for $142,500 to a 4/3/1 single family detached listed for $545,000. In between was a nice selection of townhouses and single family detached homes.

Six homes in the Crofton, MD inventory went under contract last week. All six were in the contract/no kick out category. No contingent contracts. Four were townhouses and two single family detached, priced from $224,900 to $539,900. Three other homes went into full contract status, where all contingencies except financing are removed. This is good news since these will become future settlements.

Six homes completed the sale process and went to settlement. Four of the six were single family detached homes over $479,000.

Two listings expired and six were withdrawn. Interestingly, many of them were on the market only a very short period of time.

Not a bad week of active for Crofton, MD, going into a slower time of the year for real estate.

If you’re not working with an agent and you’re looking for a home in Crofton, MD, or anywhere in the surrounding area, I can help.  Call Rich at 443-995-9595.

The map below shows all the Crofton, MD homes for sale and rent. Just click on any of the icons and you can view details of each property.

Despite the Chicken Little national headlines you read about, the real estate market in Anne Arundel County, MD is not collapsing. While there are some significant challenges in some States and areas, the data for Anne Arundel County hasn't show those negative effects. Take a look at the table below to see the latest results for July and Year to Date July for Anne Arundel County.

An almost 10% increase in closed sales year to date over the same period in 2009 is pretty significant. An 8.8% increase in pending sales is also pretty dramatic year over year. This is an indicator of future closed transactions.

Median sale price in the County dipped from $299,900 to $295,000. This figure means that half the homes in the county sold above $295,000, and half below that figure. That being said, homes sold for 92.3% of the original list price in 2010 compared to 90.7%  for the same period in 2009.

Days on the market, a critical indicator for sellers showed a decrease of -18.6%. It’s now taking, on average, 109 days to sell a house in Anne Arundel County, compared to 134 days last year.

Are we through with real estate challenges for a while? No. There could still be a downturn based on the economy in general. Unemployment continues to be a challenge for the nation, and Anne Arundel County as well. While we're a full 3 percent below the national average, any time unemployment is over 7%, it has to affect the real estate market.

While Countywide statistics are a good general indicator, not every section of the County is faring the same. If you're interested in your particular community, or neighborhood, I can help. Call Rich at 443-995-9595.

Chapman Farm, located just off of Reidel Ave., in Crofton, MD offers some outstanding opportunities for single family home ownership in the area. If you’re looking for a home in the Crofton, MD area, Chapman Farm should be high on your list of sub-divisions to visit.

Homes for sale in Chapman Farm are attractive because they were built in the mid-90’s, and most have finished basements, nine foot ceilings and maintenance free exteriors.

Homes in Chapman Farm, Crofton, MD can generally be purchased in the price range from mid $400’s to about $600K.

Chapman Farm also has one rental property listed for rent at $2,800/month.

Today, there are four homes for sale in Chapman Farm. All of them can be viewed on the map below. Just click on the icon and you can see a detailed view of the home for sale.

If you’re not already working with a Realtor and would like to see any homes for sale in Crofton, MD, or anywhere in the surrounding area, I can help. Call Rich at 443-995-9595.

Crofton, MD added 5 new listings to the current inventory of 154 homes for sale last week. A nice combination of townhouses and single family homes priced from $219,000 to $449,000. You can see these new listings on the map below. Just click on the icon for a detailed listing.

Four houses went to settlement, having been sold, and two went under contract without kickouts. Three additional homes entered the full contract status, where all contingencies have been removed.

Three homes were withdrawn from the market.

On the Crofton, MD rental side, 3 new rentals became active last week. Two townhouses and one single family detached home. Applications were registered on four others and one rental was completed.

Last week was indicative of what seems to be a slowing real estate market in Crofton, MD. Showings are down on listings and buyer activity has been reduced since the elimination of the tax credit. The end of the summer, and the beginning of school does have an effect on the market as well.

If you’re looking to buy or sell a home in Crofton, MD, or anywhere in the surrounding area, I can help. Rich Iarossi, 443-995-9595 (C).