Market Conditions Frederick MD

Wow…what a whirlwind we are in right now.  Countrywide was on the verge of Bankrupcy and the Feds stepped in and helped bail them out.  I haven’t watched this unfold as closely as a my friend Brian Brady does.  He is known as the Most Opinionated Mortgage Broker.  I listen to him like most investor listening to Jim Cramer on Mad Money.

What I do know…something has to happen now that Federal Reserve Cut Discount Rate to 5.75%.  For a while it was looking like like the rates were going to continue to increase.  This will help the marginal buyer afford the home.  Prices are still coming down in this Real estate slump in some parts of Frederick County but are pretty stable in some areas.  We have an election coming up next year and most people have a feeling of confidence during this time.  I would guess that this will help spark some sales in Real Estate around Frederick County. 

 Here’s some of the activity in the area.  I accumulate these numbers from Metropolitan Regional Information Systems and RealtyTrac.

Under Contract have dipped in the last few weeks…this is normal.  Everyone is finishing up their vacations and getting ready to head back to school.

Foreclosures in Frederick County are steady. 

I will leave you will this…Jim Cramer’s meltdown.  He is so passionate about his theories. 

[youtube=http://youtube.com/watch?v=rOVXh4xM-Ww]

 With all the changes in the market, now would be a time to check back with your lender to see if you can save some money on your mortgage. 

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Bob is a licensed Real Estate agent in Maryland and Pennsylvania. You can contact him via email at bob@gotbob4homes.com or call him on his cell phone at 240-285-4918.  Bob left the Frederick area to manage a resort office near Deep Creek Lake in Western Maryland. He still stays in touch with the area that he has grown to love.