Have you ever heard the phrase "real estate cycle"?  Or "housing market cycle? This is what I will be talking about.  May be a little lenghthy but I'm hoping it will help to clear some things up.  One question I am often asked, "Is this a good time to buy?"  Well, let's see.....

Real estate follows a pattern called the real estate cycle that is linked to local and national economic trends. The real estate cycle is divided into four phases: recovery, expansion, hyper supply and recession.

Whethe...

So here are the statistics for October 2022.  I have attached charts so you can see for yourself of the changes in the market.  The drops are expected since the average mortgage rate being firmly in the 7% range and that it is holiday season.

For Anne Arundel County, everything has dropped from September 2022.  The listings, pendings, closed sales and even the median sold price.  

Queen Anne County is the same except the median sold price went up from September 2022.

So, its still a sellers mark...

As your neighbors are hanging their holiday lights, you’re getting ready to list your home to another potential buyer. But is selling your home during the holidays a good idea?  Believe it or not, the holiday season can be a great time to sell your home. It’s true that the housing market typically heats up during the spring. However, the holiday season is often overlooked as a prime time to sell.

The holiday season between October 31 and December 31 is the most hectic time of the year. From Hall...

                                 

          I have had many individuals ask me what is the difference between the Sellers Market and the Buyers Market?  So I will share the difference and reference this blog for reminders.  This is the link to the blog I posted one year ago about this same subject

Demand in real estate is commonly judged by months of inventory based on closed sales.

Sellers Market =Less than 3 months of Inventory (Demand exceeds Supply)Buyers Market= 6 or more months of inventor...

The holiday season is generally known as the worst time to sell a home. While sales do tend to drop off between November and January, there are actually some good reasons to sell your home during these months:

Buyers are more serious. Anyone shopping for a home during the holidays probably has to buy before a certain deadline. January is a popular month for job transfers, so some buyers may be looking to relocate before the new year. Investors may also want to close before the end of the year f...

   
In any given market, there are always a certain percentage of homes or homeowners who are distressed. 

According to Attom, a curator of land and property data, home foreclosure filings - which include default notices, bank repossessions, and scheduled auctions - are up 153% in the first half of 2022 compared to the same period last year.

In Maryland, foreclosures rose by 155.8%, from 1,147 in the first six months of 2021 to 2,934 in the first half of 2022. The foreclosure rate in the state...

 

 

Another update on rates…..

 

The rates really jumped up this week after Powell’s announcement that the fed needs to continue to be aggressive with rate hikes to help curve inflation.  We are expecting rates to continue to rise through the end of the year. There are loan programs available such as Guarantee Rate's Lock and Shop program.   This program locks rates for up to 85 days while you shop for a home and it is eligible on all property types.  Want more info about this program, just con...