Hi Chi:
I see that you have a few different questions regarding buying your first home, where to buy and buying a foreclosure.Prices of homes have dropped in price in both counties and there are many foreclosures. Location always remains the key when buying a home. Homes that are closer to DC will hold there value more than homes further out.

You haven't mentioned whether you are working with a buyer agent. A good Realtor will be able to provide you the information that you need to make an informed decision of what is the best decision to suit your needs.

I would be happy to help.
cindymaves@northropteam.com

Real Estate need to be traeted like a comodity when it comes to prices. House values just like comodities are driven by supply and demand. There is no way to accurately determine what the future supply and demand of Frederick is going to be, so there is no way to detirmine long term future values. According to MRIS which is the local realtor's MLS here are the stats for Frederick & Washington Counties.

Frederick County Q3' 08 Q4' 08 Q1' 09 (Forcast)
Average Price $295,300 $271,000 Down
# Homes on Market 1,489 1,695 UP
# Homes Sold 366 306 Down
# New Homes Built 75 79 Down
# of Days on Market 128 144 UP

Washington County Q3' 08 Q4' 08 Q1' 09 (Forcast)
Average Price $215,800 $204,800 Down
# Homes on Market 1,009 1,193 UP
# Homes Sold 180 139 Down
# New Homes Built 44 23 Down
# of Days on Market 181 161 UP

Franklin County PA Q3' 08 Q4' 08 Q1' 09 (Forcast)
Average Price $188,600 $181,800 UP
# Homes on Market 937 1,169 Flat
# Homes Sold 180 129 Down
# New Homes Built 123 47 Down
# of Days on Market 162 176 UP

Based on the statistics above, it looks like Frederick county has a worse outlook for the future than either Washington county MD or Franklin county PA. I would be more than happy to discuss this with you furthure if you would like. You can call me at 888-762-1554 if you have any questions.

Chi,

Jon Tucker with RE/MAX 100. I think we have all found that real estate can increase and decrease in value depending on supply & demand and economic factors. Hagerstown was probably harder hit than Frederick. It is my impression that the farther from urbanized centers you are the harder values got hit recently.

Some believe we have hit bottom. Anyone who purports to know for sure is foolish. I believe it is a good time to buy because prices have come down 20+% in our areas and interest rates are at historic lows in the 5-6+% range. Buyers who wait for a 10% price decrease from here, but pay another full 1% later if interest rates rise will wipe out any monthly payment savings. In the long run, real estate is still a good investment since it won't go to zero (like securities can) and everyone needs a place to live.

If you are interested, I would like to work with you to acquire a home in Frederick. Thanks, Jon Tucker, 443.538.4316, TuckerRealty@comcast.net, http://www.JonTuckerHomes.com.