real estate Archives - Page 10 of 10 -

This classic rancher at 118 Academy Street in sought-after Murray Hill in downtown Annapolis was recently sold. It was listed on January 5th at $899,000 and closed on July 24th for $775,000. The house featured 4 bedrooms, 2.5 baths, and perhaps most important to the buyer, it was sited on three buildable lots. (Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data)

Within a few days after settlement, demolition began.

And it wasn’t too long before everything was gone, except for a few trees (and the environmentalist in me is very happy that these were saved).

Odds are that we’ll soon have three houses, and that they’ll be on the market for a pretty penny.

This is one real estate investor who is playing to win. I recently heard that eight times the number of people become millionaires in a down market as in an up market. In the face of so much bad news about the economy, it’s great to see an entrepreneur in action, acting boldly, creating value. It’s a great time to take calculated risks.

Yet I must say, I will miss the old house!

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

Annapolis Real Estate Investors Change the Landscape

Anne Arundel County Maryland Real Estate Market Statistics – August 2008

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