Maryland Archives - Page 19 of 19 -

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

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

Intentional Investors Buying Maryland Real Estate

Anne Arundel County Maryland Real Estate Market Statistics – August 2008

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