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Anne Arundel Real Estate Market Statistics – October 2008

The National Association of REALTORS reported in late September that recent sales for existing homes declined slightly, to an estimated annual volume of 4.91 million units for 2008. Recent tightening in mortgage lending has created challenges for some of today’s home buyers. According to Freddie Mac, the thirty year fixed rate mortgage hovered around 6.5 percent during the month of August, up slightly from the month before.

Officials are hoping that recent actions taken by the Federal government will create stability in the housing market. Lawrence Yun, chief economist for the National Association of REALTORS, says, “With higher loan limits and a beefing up of the FHA program, all the mechanisms have been falling into place to increase mortgage availability.”

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

05/08	252,600	309,100	190,700	219,000	326,700
06/08	257,900	298,700	201,900	230,500	328,500
07/08	253,300	307,100	196,900	221,100	322,400
08/08	245,400	300,600	196,400	220,400	294,500

Statistics from the National Association of REALTORS®

Anne Arundel County figures for September 2008 are shown below.

	2008	2007	% Change
Total Sold Dollar Volume:	$ 156,630,704	$ 199,884,468	– 21.64 %
Average Sold Price:	$ 403,687	$ 441,246	– 8.51 %
Median Sold Price:	$ 320,000	$ 345,000	– 7.25 %
Total Units Sold:	388	453	– 14.35 %
Average Days on Market:	136	114	19.30 %
Average List Price for Solds:	$ 466,403	$ 480,279	– 2.89 %
Avg Sale Price as a percentage of Avg List Price:	86.55 %	91.87 %

Total Number of NEW listings
taken for the month:	887
Total Number of Properties
marked Contract for the month:	326
Total Number of Properties
marked Contingent for the month:	106
Total Number of NEW pendings
(CONTRACTS + CONTINGENTS):	432

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

The Tao of Annapolis Real Estate

When will the local real estate market hit bottom and values resume their upward climb? What will be the impact of the federal bailout? Whose opinion should you listen to? Said Lao Tzu, “Those who have knowledge, don’t predict. Those who predict, don’t have knowledge.”

While we may not know when the market will turn, we do know that today offers tremendous buying opportunities – low interest rates, lots of inventory, and motivated sellers. And we live in a great place to own real estate, near our nation’s capital, paradise by the Chesapeake Bay.

If your long-term financial plan includes acquiring more real estate, observe the yin and yang – the dark chaos is accompanied by tremendous opportunity. Are you focused on the gloom or present to the opportunity?

Don’t miss the moment.

Some of our clients are now negotiating great deals to acquire properties with 100% owner financing and with lease-options, some are leverage existing assets to create down payments and getting great rates with bank financing. And many are waiting.

“When the highest type of men hear Tao,
They diligently practice it.
When the average type of men hear Tao,
They half believe in it.
When the lowest type of men hear Tao,
They laugh heartily at it.
Without the laugh, there is no Tao.”
– Lao-tzu, The Way of Lao-tzu

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

Good News for Veterans

On September 11, the House of Representatives passed the Veterans Construction and Extension Act of 2008, which helps Veterans achieve their dreams of home ownership. The legislation provides assistance for veterans who need to refinance their Sub prime or adjustable rate loans into a safer, more affordable loan backed by the US Department of Veterans Affairs. The bill has been passed on to the Senate for finalization. If you’re in the market for a home, contact us for information on FHA, VA, and other mortgage programs that might be right for you.

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

SOLD! 2009 Bell Point Court, Odenton, Maryland 21113- A Beautiful Home with a Perfect Price

2009 Bell Point Court, Odenton, Maryland 21113 is a beautiful home with a perfect price. Just listed, and a great buy particularly for a first-time homebuyer or investor. It’s always a good time to buy a good piece of real estate, so if you know someone who is renting and would like to own their own home, or an investor who would like to expand their portfolio, please let them know about this opportunity.

2009 Bell Point Court, Odenton, MD 21113

Click here for further details.

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 On Earth Can I Sell My House in Maryland Today?

With the national and global financial markets in chaos, and consumer uncertainty at a record-high level, lots of people are wondering how they can make the move they want to make, especially if they have a house to sell. Such times call for creativity – for making deals and designing transactions to meet the needs of the people involved, taking into consideration their positions and their objectives, rather than requiring people to fit into standard molds. This can be tricky to do when people are under pressure; it takes patience, flexibility, and a skilled team.

For a creative real estate deal that we recently structured, we were featured in the September 2008 issue of What’s Up? Annapolis. Click here to read the article.

As I mentioned last month, now is the time to find motivated sellers and acquire properties at great prices with excellent financing, and to structure deals that work for everyone.

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. And of course, if you know someone who needs to sell today, please call us right away.

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

Anne Arundel Real Estate Market Statistics – October 2008

The Tao of Annapolis Real Estate

Good News for Veterans

SOLD! 2009 Bell Point Court, Odenton, Maryland 21113- A Beautiful Home with a Perfect Price

How On Earth Can I Sell My House in Maryland Today?

Here are some client reviews of Carlyn Lowery…

Questions? Call Carlyn Lowery today.