The graph above depicts Monthly Rent Costs versus Monthly Mortgage Payments over recent years.We see the beginnings of recovery for the housing market. The demand for rentals has exploded so that renting is still more expensive than buying a home. See "The After Math Of the Housing Bubble" by David Kelly, J.P. Morgan. Fallen home prices in Silver Spring coupled with historically low interest Continue Reading
Sales Volume Surging for Season
November real estate data are almost all settled down in Montgomery County (it usually takes until the 9th of each month) but, some things are already clear. The volume of units sold for November 2012 was up a healthy 20.45% over Nov 2011! As more data come in, that can only raise that volume of sales percentage. While sales prices were up 4.84% and only minor changes are likely in that number Continue Reading
Don’t Lose Your Homestead Tax Credit
ACT NOW!! DECEMBER 31, 2012 is the deadline for filing your Application for Homestead Tax Credit. It does not matter whether you have owned your house one year or twenty years. An application must be filed by the end of the calendar year. If your application is already on file and approved, you DO NOT need to reapply. It only takes a minute to check to see if you have filed and if you are Continue Reading
Still a Buyer’s Market in Silver Spring
I have been back from my trip for a week and very excited to get back to work. First, I want to review the current market in a month-to-month (September 2011-to September 2012) comparison for Montgomery County. My personal reports that I use for my newsletters shows some interesting results: 1) Active Listings were down significantly from 3,249 in 2011 versus 2,334 in 2012, a 16.4% drop. 2) Continue Reading
Wall Street Journal, “Home Prices Climb as Supply Dwindles” Is it So?
"Prices rose by 2.5% in June from a year ago, and by 6% from the previous quarter" By comparison, in Montgomery County sold prices, were up 4.53% in the second quarter of '12 compared to the same period in '11 and up 2.38% in June of this ... year versus last year. This is really very comparable results. But, is it cause for such a large bold headline? Unfortunately, I don't think so. Actually, Continue Reading
Buyers Are Writing Contracts at a Fast Pace!
As a Buyer Agent, I am exhausted/happy to report that I haven't been this busy in months! I have eleven active buyers working with me now....and, in the past 2 weeks, five have written offers and are now under contract! I am also keeping track of potential buyers who "dropped out" of the market during the slow fall and winter....I want them to know that with interest rates at all-time lows and Continue Reading
My Market is Red Hot: 7 of My Listings Just Went Under Contract
The market has taken off after a very slow December and January. My listings are getting lots of showings and contracts. This past week was probably the most hectic week I have had in over the past 5 years. I personally handled negotiations on 7 properties that resulted in a change of status. My homes are priced competitively by realistic owners. I invest lots of time and resources to advertise my Continue Reading
Realistic Pricing Achieves a Quicker and Higher Return
Average Sold Price versus the Original List Price (OLP) tends to fall the longer it takes to sell. The graphs below for Montgomery County in 2011 show that homes that were on the market (Days on Market) from 181-360 days (teal color) sold on average below 90% of original asking price. While homes that were on the market (Days on Market) from 61-90 days (yellow color) sold on average at or Continue Reading
Washington, D.C. Metro Area – Lowest Inventory Level since August 2005
https://www.rbintel.com/sites/default/files/2011-12DC-RBIPHSI-FINAL_0.pdf Continue Reading
