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
Interest rates are still very low, and inventory has been high, but houses are selling faster these days and inventory is lower. And the holidays are a most exciting time to have houses on the market. Why? Our houses are never so warm and inviting.
And not just warm from the toasty fireplace but from those little touches you may add to your home in celebration of the season. “The rest of the year, when people are distracted by stuff (details of the house they don’t like), then they bypass the house. At this time of year … all they’re thinking about is, ‘Wow. Look. If I buy this house, look how nice it can look. And I can put the tree in the same spot that they have it.’ It helps them envision the warmth of the holiday season, which at any other time of year, guess what? They’re not getting, so in that respect, it’s actually helpful to have decorations up. People buy on emotion.” Continue reading
The Northrop Team is the area’s leader when it comes to pricing your home right from the start. And we do everything we can to help your home stand out, and sell quickly at the best price, with no hassles. But the one thing we cannot control or change is the market. Even though we know how valuable your home is, the value of your home from a selling standpoint will be determined solely by the buyers. To give you a better understanding of whether or not your home is priced correctly we’ve outlined the following “Levels of Seriousness.”
While the news media may continue to describe a dismal picture for the real estate market at a national level, the Maryland Real Estate market seems to be heating up. According to Full Time Sales Agent, Stephanie Bowen, she is not only seeing an uptick in buyer activity but also competing offers on properties too.
The market has really started to take off this spring! Not only are my listings receiving multiple offers, properties that my buyers are writing on are receiving multiple offers from other buyers, too! I’ve also noticed in some areas of Baltimore County there is less inventory to choose from, which makes competing offers even more prevalent. Buyers have really identified that this is a great time to buy with home prices being low and with all the exciting incentives out there including the First Time Home Buyer’s tax credit of up to $8,000.
This certainly isn’t the first story that involves multiple offers, and hopefully it won’t be the last!
Start your real estate search now.
by Susan Souder, ABR, Full Time Sales Agent
When is the best time to buy? Now!! Why now? Today’s real estate market “opens the door” for the opportunity for Buyers to have a wide selection of homes to preview. Interest rates are at the lowest in over 30 years and Sellers are prepared for the possibility of contributing toward a Buyers Closings Costs at the settlement. I have also noticed a One Year Home Warranty is offered by more Sellers in today’s market.
Working with an Accredited Buyers Representative gives the Buyers the comfort of an agent who is working for them. Their professionalism and knowledge will lead you through all the stages of home buying. From mortgage approval, finding the right home, negotiating the offer, assisting with inspections then on to settlement and getting the keys to your new home!
Start your home search now!