Maryland’s March 2022 Housing Data Continues Seven-Month Trend of Rising Prices and Fewer Sales   ANNAPOLIS, MD—April 14, 2022—Home sales prices continued to climb in Maryland’s March 2022 housing market, while the number of units sold dropped 8%, 7,548 against 8,204 units sold in March 2021. The average sales price rose 8% to $438,619 versus last year’s figure of $406,070. Median sales prices rose 8.7%, rising to $375,000, against the March 2021 figure of $345,000.   For seven straight months,...

 

With housing inventory at an all-time low, contract signings decreased 5.7% month over month in January—the third consecutive month for a drop, the National Association of REALTORS® reported Friday. NAR’s Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings, is down 9.5% compared to a year earlier. All four major regions of the U.S. posted annual declines in activity. “Buyers are still having a difficult time finding a home,” says NAR Chief Economist...

 

This one crept up on us pretty fast.  Unfortunately,  we are getting a slight repeat of last year. Omicron has thrown a curveball into our daily lives.

The uncertainty surrounding the variant “could force some people into paralysis and hibernation,” says Norman Miller, a real estate and finance professor at the University of San Diego. If omicron proves to be dangerous, it could push some potential home sellers to hold off and hunker down instead and buyers to wait out the worst of it.

But the...

 

The holidays have arrived and so has the time of year when home sellers wonder whether they should keep their properties on the market or take them off. Or if owners haven’t listed their home yet, they may be asking themselves if they should wait until spring or brave the winter real estate market?

 

Trying to sell your home during the holidays can be daunting to many homeowners. The season can be extremely busy for families, and the idea of taking on the additional stress of selling a house c...

Are you seriously considering putting an offer on a home or already have put one in?  Make sure you've had a thorough look at the seller's disclosure statement.  In most states, a person selling a home is required to document any known defects with the home for potential buyers, including any current or past problems, in the form of a disclosure statement.  You might be familiar with the federal and state laws known as "lemon laws" for protecting consumers from buying defective merchandise like...

If you're in the process of buying or selling a home, you may wonder why the county assessment is different than the market and appraised value of the home.

Why is your home assessed at $200,000 through the county, but your real estate agent is telling you to list it for $175000?  You feel strongly that your home is worth every bit of the $200,000!

Or why are you looking at a home for $250,000, but it's assessed at $220,000?  Is it overpriced?

Or why is your home assessed for $245,000, your rea...

Have you ever heard the saying "timing is everything"?  This couldn't be more true when it comes to the real estate market in regard to buying and selling a home.  Whether you are interested in buying, selling, or both, you will be affected so it's important to understand what you can expect in each type of market.

Buyer's MarketBuyer's market is more favorable toward the buyer- more inventory, lower prices.  This is an ideal situation for a buyer as those looking to sell their home are more wi...