John Holmes

Now that we are clear of the holidays I would say we are going to see a slight increase as more sellers come back into the market that said "I want to wait until after the holidays." You also have people who are looking to move up and are willing to give up a little more equity to sell because they can get it back with the low rates.
Second question - It all depends on the direct competition of those currently on the market (usually within a few miles of the sellers property), condition of the home, how much time do you have to sell it, etc.

You need to think like a buyer and look at your competition to really determine your asking price. Keep in mind with so much inventory buyers can be selective. I hear my buyers say things like "for $3000 more I can get a better kitchen down the street" or "This house has the upgrades we want and it's only $100 more a month." You want your home to look like the "sale" or the "deal" without giving it away.

John

Live in the Crofton Area?
check outhttp:// www.CroftonAreaNeighbors.com - Sun Jan 27 2008, 14:44

The most important thing I tell buyers who are looking for primary homes is only buy if you plan on staying in the home more than 3 or 4 years. This way you will still make a good investment. Remember real estate over the long term has always been a good investment. Look up the average property values in AA county this year compared to last year, I bet you will find in increase, yes an increase in value. AA county consistantly has an above average(when compared to the national average) job growth which in turn has a direct effect on the housing market.

Look for short sales, foreclosures, or sellers who seem desperate to sell. You can take advantage of these situations and get really great deals. I had a client last month who found a seller who had to sell so bad they paid to lower my clients rate two points (she ended up with a 30yr. fixed at 3.5%), repaired everything in the home, and accepted an offer that was 90% of list price. At settlement we even had money that the seller agreed to give as closing assistance left over and they wrote my client a check for the difference. She was actually paid $2500 to buy the house. These types of transactions are happening every month. You just need an agent who recognizes these situations and knows how to approach the sellers correctly without offending them. I can actually search the MLS for these types of properties. I currently have one set up for myself as I am in the market looking to move up.

Another important thing to do is have your agent track the areas you like and monitor the prices. If it seems the prices keep dropping it may be best to wait. If they seem to be staying steady or increasing then you should act swiftly if you really like the area. Remember, all it takes is one short sale, foreclosure or desperate seller to sway the average price in any neighborhood. Ask your agent to do a search for you on these types of properties, you will be suprised at how many are out there.

Be patient and look for the deals. - Sat Jan 26 2008, 08:35

The Odenton Market has remained steady with the anticipation of BRAC coming to Ft. Meade. I have already worked with several military transfers coming to the area. With the bulk of the people yet to come property values are still low as the demand is still slightly below average for the county. New homes are being built in some parts but most of odenton is already developed so land is hard to find. Odenton is also a great place because of the location, the MARC train stops in Odenton and makes a great commute to DC. You are also close to the Balt./Wash Parkway and other major roads to give you options for the commute. Feel free to check out my websitehttp:// www.HolmeSweetHomes.com orhttp:// www.CroftonAreaNeighbors.com for more information as well as current properties for sale. - Sun Jan 20 2008, 08:39

It is booming with all the new construction going on around West Street and surronding areas. There are approximately 200 on the market right now in just about every price range (not including any For Sale by Owners). They seem to be selling as well, in the last four months 108 have sold from 200K to over 1 million. Feel free to set up a search saver on my website and we can email you the listings as they come on the market right to your inbox! www.TLCHomePros.com - Tue Jul 10 2007, 07:09

Hi,
Feel free to check out my website page that I referenced. On the right hand side under buyer tools you will see links for public, and private, as well as colleges. There you can find all the information you need about the schools in Hanover.

Have a great day!

John - Tue Jul 10 2007, 06:07