Comments on: Market Conditions for Condos in Frederick County

By: Sell My House

Sell My House — Wed, 26 Mar 2008 20:05:37 +0000

I’m surprized the higher priced ones are selling faster then the lower priced ones. Thanks for the chart/info.

By: What’s happening with the Condos in Frederick now | Focus On Frederick.com

Tue, 08 Jan 2008 13:20:13 +0000

[...] remember my post about the condos from last month. Well, it’s a new year and there has been some major drops in the over inventory. I wanted to [...]

By: gotbob

gotbob — Mon, 17 Dec 2007 12:03:53 +0000

Abhishek, You have to remember that Real Estate is local. Each market actually performs differently that the national averages and other parts of the country. It is even so much local that you might see 30% decreases in one neighborhood and 10% in a neighborhood a few miles down the road.

The media wants you to believe that this crunch is a nation wide epidemic. Sure, its bad, but not as bad as they make it. (everywhere)

By: Abhishek

Abhishek — Mon, 17 Dec 2007 04:21:11 +0000

Hasn’t the price meltdown in the housing market elsewhere affected Frederick? Seems strange when you see prices crashing by 35-40% in california and such

By: gotbob

gotbob — Wed, 12 Dec 2007 23:37:44 +0000

Freda, I provide you a link above for the current market conditions in Overlook. I went back 6 months for the solds. It looks like only one home is priced below the average. Not saying that the other condos are not worth it and might be in better condition. The most recent sale was for $157k while the other two were in July and Aug. This will weigh heavily on an appraisal when these units go under contract require an appraisal.

It has been a while since I have been in the Overlook Condos to comment conditions of these homes.

Good luck with your sale…treat every showing as if it were gold and make sure your home shows best every time.

By: Freda

Freda — Wed, 12 Dec 2007 21:17:54 +0000

Hi,

I’m actually selling a condo on Himes Ave. How is selling in that area of Frederick? I live near the junction of Ballenger Creek and Himes.

By: gotbob

gotbob — Tue, 11 Dec 2007 01:34:42 +0000

Josh & Jessica, Congratulations! I am glad to see you got it at a good price too. The downtown area will always continue to grow…just have to be patient.

By: Josh & Jessica

Josh & Jessica — Mon, 10 Dec 2007 03:06:49 +0000

Hello,

Well me and my fiance (18 and 19 years old)are purchasing a condo/towne at 8th street mews and we absolutley love it..for the prices they are at, and the upgrades you get, you couldn’t get a abetter deal. You get hard wood flooring, upgraded light fixtures, granite counter tops, stainless steal appliances, and location! You can basically walk to all the stores and there is a grociery store being put in soon so its perfect for everyone but ideal for first time homebuyers. Good deal with everything that is included.

By: gotbob

gotbob — Thu, 06 Dec 2007 17:12:21 +0000

Annie, Thank you for commenting. I would believe it to be mostly the market. I have been in a few of the units and they were nice size and in good condition, in my opinion. The prices were much higher in May and they might have deterred a lot of sales. Builders can only hold on to inventory for so long before they have to start making adjustments. These units were remodeled rental units. The brand new units around town seem to be the more successful sale in condos recently.

By: Annie

Annie — Thu, 06 Dec 2007 16:47:53 +0000

Thanks for this study, Bob. I’m a first time home buyer and 8th Street Mews seems to fit almost everything on my list. But, they seem to have had many units for sale for a long time (since May). Do you think that’s just a result of the softened market or something else?