Annapolis real estate Archives

Intentional Investors Buying Maryland Real Estate

How’s the real estate market? Everyone is asking me these days. Recent headlines in The Capital, our local Annapolis newspaper, include:

County home sales drop 31 percent in July

Shaky economy hits schools, kids

Restaurants closing reflects disturbing trend (about the closing of our much–loved locally-owned Northwoods Restaurant)

State unemployment rate creeps upward

Rumor has it that some of the new upscale chain restaurants in Park Place near Murray Hill may be closing. What will happen with Morton’s and Fado? Today’s Wall Street Journal reports:

Financial Unease Trips Up Stocks

Housing Downturn Hits Home Depot

Fannie, Freddie Are Pounded

Things are looking pretty bleak, one might say. Of course, it all depends on your perspective.

Here are some other facts from our local multiple listing service:

Of the 38 single-family homes sold in Annapolis in the last thirty days, the net price when sold averaged 87% of the original list price.

A lovely property is listed in Murray Hill now for over $100,000 below the last sale on the street in 2006.

For those who are intentional about building wealth through real estate investing, this market is outstanding. Remember “Buy Low, Sell High”? Now is the time to find motivated sellers and acquire properties at great prices with excellent financing.

We are increasing our services to investors, so if you want to buy more rental property in Maryland, and you want to work with someone who understands your vision, let us know.

We’re building a new web site at http://www.IntentionalInvestor.com

Check it out and let us know your thoughts and suggestions.
P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland

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Anne Arundel County Maryland Real Estate Market Statistics – August 2008

The National Association of REALTORS® (NAR) reported a decrease in the rate of existing home sales through the month Surface of June, which fell 2.6 percent. NAR’s revised With home sales forecast now stands at 4.86 million units for 2008.

Despite the decrease, REALTORS® are reporting activity in all regions across the country. NAR president Richard F. Gaylord explains, “Timing the market can be very tricky, which is why home buyers should always have a long-term view to build wealth.”

Average (Mean) Sales Price of Existing Homes by Region

Date	U.S.	Northeast	Midwest	South	West
2006	268,200	299,700	205,300	230,000	371,300
2007	266,000	307,100	200,500	225,600	365,900

01/08	245,500	298,400	178,800	206,500	335,600
02/08	242,000	292,700	175,100	204,600	333,100
03/08	247,100	310,800	183,200	209,600	325,200
04/08	247,200	294,400	188,500	212,900	327,000
05/08	252,600	309,100	190,700	219,000	326,700
06/08	257,500	292,600	204,200	229,900	330,500

Statistics from the National Association of REALTORS®

To stimulate market activity, the Federal Housing Administration has increased loan limit guarantees for 2008. FHA programs are available with a modest 3 percent down payment, and allow borrowers more buying options when purchasing a home. The national median existing home price was reported at $215,100 in June, down from a year ago when the median price was $229,000 for all housing types.

Anne Arundel County figures for July 2008 are shown below.

	2008	2007	% Change
Total Sold Dollar Volume:	$ 163,200,495	$ 247,874,259	– 34.16 %
Average Sold Price:	$ 397,081	$ 428,848	– 7.41 %
Median Sold Price:	$ 332,900	$ 362,403	– 8.14 %
Total Units Sold:	411	578	– 28.89 %
Average Days on Market:	121	92	31.52 %
Average List Price for Solds:	$ 437,012	$ 459,905	– 4.98 %
Avg Sale Price as a percentage of Avg List Price:	90.86 %	93.25 %

Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data
Copyright 2008 – Information deemed reliable, but is not guaranteed.

P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland

Why Maryland Single People Miss the Boat on Housing (And What To Do About It)

Annapolis Singles and Maryland Singles Thinking of Homebuying: Do you remember when you bought your first couch? Or are you still waiting? For many, buying a couch is such a sign of being an adult, it’s a big deal. When you did buy one, odds are it provided a nice place to relax in your first home away from home. The place where you could do what you wanted, when you wanted, unsupervised!

What about owning the home?

The Contractors way things used to be, or at least the way Hollywood tells us, you would finish school, get married, buy a house, buy a car, buy life insurance, have kids, live happily ever after. That’s not the way it is any more! Collect (And maybe it never really was!) Lots of people are single and living on their own – in fact, in America today, there are now more households consisting of single people living solo than of households comprised of mom, dad, and kids.

Yet many single folks are waiting before investing in real estate – waiting to see how life will shape up – waiting to see how finances will turn out – waiting to see how their current job will work out – waiting for “the one” to show up – putting off lots of things until that day arrives when everything will be clear.

Did you wait to buy a car? Did you wait to set up an IRA or 401k? Are you waiting to invest in real estate? Or is a For single friend of yours waiting?

Putting things off means missing the boat on the real estate investment opportunity now – the opportunity to build equity and establish financial security, the opportunity to control your home environment and design it exactly the way you want it, the opportunity to entertain your friends and family in your dream home, the opportunity to buy in a buyers’ market and choose from lots of inventory and make a great deal. Do you really need to wait?

These days, not so many people are Market missing the boat – we’re seeing a lot more singles buying homes – they are getting roommates, or mothers and daughters or single parents are buying together. They are buying rental properties, and learning to manage them well.

Many renters, who are now living in expensive Annapolis apartments such as those at 1901 West and Spa Cove, could easily become homeowners. One of my single clients recently invested in a condo in Riva Trace, and his new payments are barely more than his rent had been – plus he was able to move out of his apartment at Archstone Annapolis Bay off Forest Drive, and leave his landlord behind. I just love helping Bowl people discover how easy and fun it is to own their own homes.

For those who are ready to take the next step, attend our free Homebuying Workshop for Singles on Tuesday, August 12th. Please join me then, or get in touch today.

P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland

How to Find The Best Contractors and Service Providers in and Around Annapolis Maryland

Because we receive such a large number of requests, and because we operate our own business by referral, we have decided to commit some of our time and resources to compiling a Referral Directory that lists the finest individuals and companies serving our community.

With this in mind, we want your input! Chances are you know contractors, home repair persons, CPAs, doctors, attorneys, window cleaners, auto mechanics, etc. whose services have been exceptional and extremely valuable to you and your family. Speaking of people who do an excellent job, perhaps you provide a service you would like us to include in this Directory, which will be distributed to all our clients, friends and associates.

In any case, we will be mailing a questionnaire to the people who are in our Client Appreciation Program. When it arrives, please complete it and return it to us. Or, if you prefer, email us with your recommendations, as well as the referrals you will be needing in the next twelve months. If you are not in our Client Appreciation Program, and would like to be, please let us know! This is a great program where we keep in touch about real estate, send out regular mailings, and have fun events.

This Directory will list the most reliable and professional people we can find. We look forward to your input and plan to publish the Referral Directory within the next three or four months. We know it will be of great value to you and all our friends and clients.

Once again, we thank you for your business in the past, present, and future, and we look forward to providing you and the people you refer to us with the highest quality of service in the purchase, rental, or sale of real estate.

P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland

Intentional Investors Buying Maryland Real Estate

How Much Is My Maryland Real Estate Worth?

Anne Arundel County Maryland Real Estate Market Statistics – August 2008

Why Maryland Single People Miss the Boat on Housing (And What To Do About It)

How to Find The Best Contractors and Service Providers in and Around Annapolis Maryland

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