The market in Southern Maryland has improved quite a bit in the last 30-60 days. Now that that the winter weather is behind us and interest rates are still very attractive, the market seems active. We should have a good spring and summer season with prices firming up.... more
Hi Melissa, have you tried map quest? You could type in the street name and click the magnifying glass to get a look at the neighborhood. May I help you find your new home? Contact me and I will help you.... more
First, you want to know if the home is priced above, at or below market value. You'll need to see all the comps for the last year for the homes that SOLD in that neighborhood and within about 5 miles that are similar (sq. footage, amenities, lot size, etc.). With the current market, listing agents are refusing to allow Sellers to overprice their homes. 90% of the homes currently on the market are priced where they should be. Secondly, determine what your closing costs are going to be and what you'll need to put down. Lender requirements change week to week these days. Sellers are more likely to help you with your closing costs if you don't "lowball" them with the sales price. If your agent did their homework and knows the home you want is priced correctly...offering less than asking price and asking for closing help is a one way road to a rejected offer. The old school method of offering a certain % under the list price is gone.
Make your agent pull the Sold Comps and all the Active Listings to see where your dream house falls out...then you can make a well informed offer and have it accepted. No matter what the market conditions are, people still have to buy and sell homes and the best homes (price, location, schools, etc.) SELL regardless.... more
For the family that has outgrown it's current abode - & is in dire need of a larger space - Most definitely. You will be able to take advantage of your current equity to step into a much better home at a great price point.
You may give up a little on the percentage when selling - but what you gain will come back at you once the market recovers... (I don't have a crystal ball for when that will happen - but it's not too far in the future).
To answer your direct question "will it ever"? Yes. It always does. We have cycles just like any other industry. There was a time when the wireless companies went from $40 per share to under $4: they have rebounded and are stronger than ever.
The housing market must right itself - and pay for the sins of the past. Once we get back to reality and the market catches up with itself we will all benefit. I wouldn't look for the 10% annual appreciation - I do believe those days are done (hopefully).
Remember the tortoise and the hare? Slow and steady gets you there....... more