Property Q&A in Owings Mills>Question Details

Carolyn, Both Buyer and Seller in Owings Mills, MD

This condo was in the $280's in December, then jumped up to 295K? Why? what has changed. I like it, but not at $295. Maybe $230, but exceeding $250

Asked by Carolyn, Owings Mills, MD Fri Mar 15, 2013

The red walls will be costly to repaint and the "blue carpeting is too much (replaced). I can live with the rest for a year or so.

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Mlayne’s answer
It could be that the market has picked up a little and the comps have increased. The recent sales in the area determine pricing and December is a relatively slow time when compared to this time of the year.
Also, sometimes people raise the price hoping to get a general increase in the amount of their offers. Owings Mills is hardly a slow growth area because of its location: It is close to DC and to Baltimore so there is more demand, in general, because it is mainly a suburban area, with some rural areas.
These are things that are going to work in the seller's favor. Another area that is doing well in that general proximity is Finksburg, Maryland. Finksburg is relatively suburban and still somewhat rural in some places and yet, it is close to the larger cities.
What interest rate are you being offered on your loan at present?
A lower rate could take some of the sting off of the higher sale price and there are a lot of ways to get your mortgage priced to your advantage without having to spend more money out of pocket.
0 votes Thank Flag Link Mon Mar 18, 2013
Mlayne, Thank you for the informative response. I will take it under much consideration. ---CRI
Flag Mon Mar 18, 2013
I liked to Thank you all for the responses.
0 votes Thank Flag Link Fri Mar 15, 2013
You are welcome Carolyn !!
Flag Fri Mar 15, 2013
You are welcome Carolyn !!
Flag Fri Mar 15, 2013
The property was briefly listed for $289,000, It may be slightly over priced based on the comps and the updates to paint and carpet that may be necessary, but it isn't going to be sold for $230-$250. Here are the recent solds in the neighborhood
0 votes Thank Flag Link Fri Mar 15, 2013
My suggestion is that you contact the listing agent who would know more about the reason for the current pricing.. If you really like the property, why not ask your Realtor to submit an offer at YOUR price. Do you have a Realtor representing you? If not please contact me to discuss at 973-441-1192.
0 votes Thank Flag Link Fri Mar 15, 2013
Hi Carolyn, this property has been on the market for quite some time. My office is the Broker for this listing.

I would be more than happy to assist you with any further questions you may have on this property and any other properties of interest.

Sherrell Haynie
0 votes Thank Flag Link Fri Mar 15, 2013
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