We have reached the midway point of the year. Today, we look back over the first six months and give you a snapshot of stories that have had the biggest impact on the real estate industry so far this year.
In anticipation of what we predict will be a great 2nd half of the year – The Creig Northrop Team of Long & Foster will be launching their brand new website. Are you ready for the BIG REVEAL? We are only a few short weeks away. Stay tuned for the launch!
Top Real Estate Headlines in the 1st Half of 2011
Despite Early Headlines, Sales are Increasing
Headlines earlier in the year announced the total collapse of the housing market. To those in the know, it was obvious that comparing sales numbers in the first four months of this year to the same period last year made absolutely no sense. The largest tax credit ever given to home buyers expired on April 30, 2010. Large numbers of transactions were dragged forward last year so buyers could take advantage of the credit. Pending home sales (transactions going into contract) on the other hand have done quite nicely and many institutions (ex. Fannie Mae, Freddie Mac, NAR and Moody’s Analytics) are projecting good sales numbers throughout the rest of the year. Continue reading
But I caution that this traffic is not going to last forever. We believe sellers have a window of opportunity for the next 90-120 days in which to sell their homes for maximum price. We have seen a great increase in activity starting in late April, and early May. We’ve sold 35 houses in under 30 days since May 1st.
Getting settled into a new home before the next school year starts creates a huge sense of urgency for summer buyers! The other opportunity for sellers is coming from job relocation. This home buyer typically comes into town once or twice and buys. Sometimes they are in corporate housing for a short period of time but that seems to be less common now than in the past.
We are truly dedicated to helping you get the sales price you deserve by supplying all the tools and resources you need to be seen by the maximum number of buyers in today’s marketplace! Request a no-obligation market analysis now!
Maryland’s # 1 Real Estate Team opens doors to buyers during the upcoming National Open House Weekend June 4th and 5th
The Creig Northrop Team of Long & Foster Real Estate, Inc. is excited to participate, once again, in the National Association of Realtors’ upcoming Nationwide Open House Weekend. This initiative, taking place Saturday June 4, and Sunday June 5, offers a great way for our sellers to present their homes to a large pool of buyers, and for our buyers to take advantage of amazing home buying opportunities.
The Creig Northrop Team, in conjunction with Long & Foster Real Estate, Inc has increased marketing efforts, in print, and online. There are a number of banner ads on LongandFoster.com, as well as web and print advertising throughout our Mid-Atlantic region to draw attention to this event. The National Association of Realtors has also stepped up their advertising for the weekend to include full-page newspaper ads, large online advertising campaigns, press releases, and social media.
It’s perfect timing for a great open house weekend. In the Mid-Atlantic area, schools are not quite out yet – so most buyers and sellers are still in town. Vacations are still a week or two away, but summer excitement is just around the corner! The enthusiasm for home-buying is at an all-time high.
Log on to northropteam.com to preview our incredible inventory.
The middle of March has been reserved for college hoops. Football is over, baseball has not yet begun and professional basketball is in the twilight of its season. As college hoops grips the nation – many buyers are coming out of hibernation to take advantage of the great deals and still record-low interest rates. The market has been picking up steam since the New Year, and it’s snowballing into a red-hot spring market. When people talk about a “Spring Market” they are usually referring to homes that CLOSE in March, April and May. These homes are typically on the market NOW.
In our office, we say the Spring Market for us starts January 1st. Based on the increased activity we saw company-wide for open houses this month, Spring has sprung! And Mother Nature agrees! The weather is warm, and buyers are out! Thinking of buying or selling? Choose the Team that finishes first in the Maryland Real Estate bracket every year!
There are so many questions surfacing about the Real Estate market, and so many people looking online for answers! The Creig Northrop Team of Long & Foster Real Estate is excited to introduce “2 Minutes with Creig.” This new video series is dedicated to addressing current trends and topics in today’s Real Estate market.
Check out our first video, “Why Buy Now!”
Have a question that you’d like answered? Ask us now!
Time is running out for active veterans who served on an official, extended duty service outside of the United States for at least 90 days during the period of December 1st 2008 through May 1st 2010. Members who qualify will be granted an extension on the Home Buyer Tax Credit that expired September 31, 2010.
In other words, any active veterans who served overseas for over 90 days between the aforementioned dates can qualify for the same home buyer tax if they are in contract to purchase by April 30th, 2011 and complete the transaction by June 30th, 2011.
Interested in more information? Contact our Director of Government Relocation today.
According to the National Association of Realtors recent “Focus on Sellers” survey, sellers have many reasons for moving, and these reasons vary by age. Selling a home because it was too small was the motivation for 21 percent of recent sellers. In fact, wanting to trade up to a larger home was the most frequently cited reason among all sellers, but especially for younger sellers (46 percent). Job relocation was the second most cited reason for selling a home — cited by 15 percent of survey respondents, but a decrease from the 21 percent of sellers who reported this reason in the previous profile. Job relocation was the most frequent reason for selling a home among those aged 45 to 54. Among those sellers 55 years old or older, moving closer to friends and family was the chief reason for selling a home, and it becomes an even more commonly cited reason among older groups.
The Creig Northrop Team of Long & Foster sells every price range, every day and works with all types of sellers. Whether you are trading up or sizing down, contact us today for extraordinary service at no extra cost!