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.

Past market updates;

September 17, 2007 · Filed Under Buyer, Frederick MD Real Estate, Market Condition, frederick real estate, seller

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Market Conditions around New Market MD

Let’s take a closer look at the New Market area. This has always been an attractive area with all the historic buildings downtown and the ever popular Lake Linganore area. Something about water and people…we just gravitate to it. We enjoy its calming affect. Conveniently located just off Interstate 70, you have a quick commute to Baltimore or Washington DC.

You have a variety of homes around the lake; small to moderate townhomes, small to luxurious single family homes. With this amount of selection in homes, home buyers have the opportunity to live in this area at any price. Currently on the market in New Market;

138 Single Family Homes - $129,900 to $999,999
20 Town Homes - $234,900 to $424,900
4 Condos - $207,500 to $449,900

In the last 30 days, there have been only 12 sales in zip code 21774. Below is a list of homes that sold in past 30 days;

SFH - Waters Edge - 6 BD 4 BA - $657,500
SFH - San Andrew Dr - 4 BD 4 BA - $540,000 ($20,000 seller help)
SFH - Douglas Ave - 4 BD 2 BA 2 HB - $430,000 ($7,500 seller help)
TH - Mussetter Ct - 4 BD 3 BA 1 HB - $344,500 ($10,000 seller help)
TH - Steamboat Way - 3 BD 2 BA 2 HB - $289,900 ($3,500 seller help)
TH - Steamboat Way - 3 BD 1 BA 1 HB - $277,750 ($11,000 seller help)

There you have a quick snapshot of the what the Market Conditions are New Market MD. If you have any questions, please don’t hesitate to contact me.

Open Houses in Frederick MD 8/25 - 8/26

Here is a link to all the open houses scheduled in Frederick County for this weekend to include Condos, Single Family and Townhouses. They are sorted by least expensive to the most expensive scheduled open house.

Frederick County Open Houses <— Click here

August 25, 2007 · Filed Under Buyer, Frederick MD Real Estate, Middletown, frederick real estate

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Rentals in Frederick County Maryland

There has been a lot of focus on the sales in Frederick MD Real Estate. Let’s take a look at the rental market. Frederick County has been experiencing a good rental market in my opinion. As the Real Estate Market has its problems, rentals tend to pick up. Some sellers turn to the rental market for some relief. They have been waiting a long time to sell their house, but can no longer endure the monthly grief of making two mortgage payments. Don’t be surprised when you read through the list of current available rentals in Frederick, that you see it is also on the market to be sold. Don’t worry, once you sign a lease you have laws that protect you. You can read up on the Maryland Laws about Landlords and Tenants at Mitchie’s Legal Resources. There might be clauses included in your lease that allows the owner to take back possession of his property if he is transferred back to the area. This is called the Owner Transfer Clause. If the owner sells the house while you are occupying it, there is wording to protect you. Make sure you read your lease and ask questions before signing. Most disputes can be resolved by both parties if they agree ahead of time on the lease.

I still believe that homeownership is the way to go, but there are times and circumstances when renting your home is the best solution. If you only rent because you think you could never own, please call one of my Preferred Lenders. You might be surprised at what you can afford to buy. It might not be your dream home right off the bat, but it will be yours. If you are still looking to rent, I have provided you a list of current rentals in Frederick and also the websites to a few Property Management Companies that offer rentals. As always, if you have any questions, please don’t hesitate to contact me.