Kara, Home Seller in Ellicott City, MD

Market Conditions for Howard County townhomes in the 450-550K price range?

Asked by Kara, Ellicott City, MD Thu Mar 13, 2008

I am thinking about putting my house up for sale. Do you think that it will pick up given the conforming loan increase?

Help the community by answering this question:

Answers

5
The market across the board is slower than where it used to be. However, all homes in all price ranges will sell if priced correctly, marketed correctly and staged correctly. This high-end luxury townhome market will take longer than average since there are less buyers who are willing to pay for luxury townhomes when you start pricing against single-family homes.

I am an expert in the Howard County Townhome market. Please let me know if I can help you further.
1 vote Thank Flag Link Thu Mar 13, 2008
Kara, generally, your house will sell if it's condition and price make it one of the three best houses on the market for its type and location. The conforming loan increase does help you, but any buyer borrowing more than $417,000 still has to have a stronger financial profile under the new guidelines. Your buyer may also be able to qualify with an FHA loan, which allows a lower down payment. I've found that houses in your price range have to have certain amenities -- spa baths, gourmet kitchens, hardwood and ceramic floors among others -- to appeal to buyers. More to the point -- yes, our market here is picking up, and buyers are entering the marketplace. It's still slower for most sellers than they would like, but a thorough market analysis with an experienced agent will help you decide whether this is your moment to sell.
0 votes Thank Flag Link Fri Mar 28, 2008
Just go to http://www.linkshield.com/s/314_12 and retrieve a report in .pdf format that you can print for reference.

It is essentially a sub-set of my monthly "Absorption Rate Analysis" and specifically addresses the price segments for townhomes in Howard County that you are interested in.

If you have any other questions, please don't hesitate to call!
Web Reference: http://Home-Sweet-Home.us
0 votes Thank Flag Link Thu Mar 13, 2008
Hi Kara- In a market like this, the first thing to do is determine your motivation level. If you really don't want or need to sell, then you will likely overprice, sit for a long time, possibly not sell, and feel very frustrated. If you are considering moving up in value, then it is still a good time to move. Even if your home does not sell for quite what you are expecting, the home you buy will likely be attainable for a price that will satisfy you.

I just helped a couple sell their townhome in Columbia. They got less than they hoped for, but they were able to buy a home much nicer than they thought they could. And they didn't pay a dime in closing costs for the new home.

If you are motivated now is a great time. If you just want to test the waters, not so great. And, if you overprice, you will just be helping other people sell! Click below for February price info for Howard County
Web Reference: http://www.headforhome.net
0 votes Thank Flag Link Thu Mar 13, 2008
Hello

There are currently 81 townhomes in the 450-550K price range for sale in Howard County. Again, if your home is priced correctly, well maintained and shows well your chances are better to sell. The key right now is patience and proper pricing. There is so much for buyers to choose from. The Conforming loan increase may help the market overall, but I don't feel it will help one type of home over another at this point. Good luck and let me know if you have any other questions.
0 votes Thank Flag Link Thu Mar 13, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer