Housing Market in Frederick MD

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We are starting to close in on another year. It’s hard to believe that 2007 is almost in the bag. The Frederick Fair is here, the leaves are about to fall, and I mean fall, since it has been so dry. Time sure flies when you’re having fun…. The Frederick County housing inventory has climbed to 2338 as of right now. The new homes to the market have pretty much been flat all year with an average of 18 new listings every day. Granted some of the listings were ones that were previously listed with another agent. Sellers have been pretty frustrated in this market. They haven’t been getting the price that they truly wanted. It’s not the agents fault…the market determines the price. With Foreclosures in Frederick County on the climb, (Currently 95 in Preforeclosure and 226 in Foreclosure status according to RealtyTrac.) pricing is a moving target. Unfortunately, foreclosures and short sales are your next appraisal and it will impact your sales price. You will need to lower your price, if you want to move on to the next step…this is a reality. Loans are harder to get and also harder to keep together. With all the changes the Mortgage market is going through, sometimes they are disintegrating before they get to closing. So here, as the seller you will also need patience. Lenders have been giving out money way too easily and now we are paying for it. Paying for in a sense that we have been spoiled. We have been used to lenders jumping through hoops to give out money. Now they make the buyer jump through hoops to get the money…not as easy any more.

Here’s a chart of a few numbers over the past year.