Market Watch for Frederick MD

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With loans getting harder to aquire and interest rates climbing on the jumbo loans. Buying a house is actually getting back to the way things should be…right? Actually, yes! When you have good credit and “real” income, you can buy a house. Check with a local lender to see what you can afford. This isn’t anything new…this is the way is should have always been. If you are in this category…now is the time to buy. But the subprime market went a little crazy and relaxed their lending criteria and wah lah… we have today’s mess. If you read this article from Ben Stein, he seems to think that its not as big as the media is making it.

The total mortgage market in the United States is roughly $10.4 trillion. Of that, a little over 13 percent, or about $1.35 trillion, is subprime — certainly a large sum. Of this, nearly 14 percent is delinquent, meaning late in payment or in foreclosure. Of this amount, about 5 percent is actually in foreclosure, or about $67 billion. Of this amount, according to my friends in real estate, at least about half will be recovered in foreclosure. So now we are down to losses of about $33 billion to $34 billion.

I guess you can slice the number any way you like… His seems to be real, but still a lot of displaced families.

Reality is the market is still slow and I can’t stress any harder…if you don’t have to sell, stay home. If you have to sell, be on top of your game with the presentation and price of your home. Stage it and price agressively.

Let’s take a look at the recent sales in Frederick MD Real Estate (Below are sales from the last week for Condos, Single Family Homes and Townhomes.)

STREET - Last List Price - Sold Price - Seller Help
Mountain Rd - $600,000 - $578,000 - $0
Woodville Rd - $564,900 - $559,000 - $16,000
Leafy Hollow Cir - $549,900 - $510,000 - $0
Deervalley Dr - $210,000 - $210,000 - $8,400
Wainwright Ct - $205,000 - $205,000 - $0
Key Parkway - $174,880 - $173,000 - $5,000

Notice it’s more popular to give seller help on lower price homes but more prevelant to lower the price at the higher homes. Keep in mind that the list price you see is not necessarily the original listing price but only the last price before it sold. If you would like a personalize market analysis of your neighborhood, please contact me.

Helpful Post:

A side note, I noticed my recent listings of Open Houses to be a popular search. I will continue to post them by Saturday mornings for the whole weekend.

August 13, 2007 · Filed Under Market Condition, frederick real estate

Comments

One Response to “Market Watch for Frederick MD”

gotbob on August 14th, 2007 2:30 am

I should clarify something… That is only part of the sales from last week. There were 22 in all entered into MRIS last week. (Metropolitan Regional Information System, Inc)
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