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Market Conditions in Gaithersburg : Real Estate Advice

  • All136
  • Local Info10
  • Home Buying41
  • Home Selling3
  • Market Conditions11

Activity 11
Tue Jan 27, 2015
Bryan Taylor answered:
Please clarify your question in what information you are seeking to provide the best answer. As you can read from industry reports, common reports (Yahoo, Google News, and several other financial pages) interest rates are down and typically with lower rates, more buyers come forward to take advantage of them. ... more
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Tue May 27, 2014
s.andia asked:
This question was asked from http://www.trulia.com/foreclosure/3021469501--Big-Acre-Sq-21-8-Gaithersburg-MD-20878
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Thu Jul 11, 2013
Andrea Bedard answered:
Hi, the property you referenced sold in October of 2012 - almost 9 months ago - and is not really a comp anymore. We usually look for solds within the last 90 days, perhaps a little further back or in neighboring subdivisions, if there has been little sales activity.

The 2 most recent sales of detached homes in Fernshire Farms were for $522,500 (May) and $535,000 (June). When comparing properties you have to take square footage, number of bedrooms & bathrooms, upgrades, finishes, lot size etc. into consideration ...

Date of sale, type of sale, characteristics of the homes sold and location all play a role in why the average sales price can be lower than current average list price.
... more
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Thu Jul 11, 2013
Craig Rosenfeld answered:
Hi Fiona,

Quick answer..No! Prices have been increasing steadily in Gaithersburg and throughout the region. The June 2013 statistics were just released and the average sold price was up 6.96% year over year. In 20879, the average sold price was up an unbelievable 17.8% but down 6.92% in 20878. Understand that this will vary by neighborhood and is being driven by lower interest rates and a lack of inventory. As inventory increases, prices will stabilize but our crystal ball can't tell us when that will be. We continue to see multiple offers on many properties. If you want information on a particular area, just let me know.

Craig
... more
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Wed Jun 26, 2013
Catherine Purcell answered:
Hello Gunay,

If you have not already been approved by a lender, I would be happy to run numbers for you to let you know how much you can qualify for.

Feel free to call, write or text if you have any questions!

The first step in the home buying process is to get pre-approved for your mortgage. You can start this by going to my online link. Click here and enter your information so I can run numbers for you: http://www.loansbycatherine.com.
After you hit SUBMIT, I will be able to access your information through our secure website and will run figures for you right away.

This does not obligate you to use Fairway Independent Mortgage Corporation, although we do appreciate the opportunity to work with you.

I am looking forward to working with you and helping you get the keys to your new home!

Sincerely,

Catherine Purcell
Senior Mortgage Loan Officer
Fairway Independent Mortgage Corporation
Cell 202 573-6035
catherinep@fairwaymc.com

Over 25 years of Real Estate and Mortgage experience
focused on educating my clients so you can make an informed decision that best suits your needs!

MLO# 194172 FIMC NMLS# 2289
... more
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Tue Jul 13, 2010
Anna M Brocco answered:
Fortunantely or unfortunately, banks are much more stringent when it comes to making loans, they do require lots of financial documentations, etc.; therefore not as easy to qualify as in the past. ... more
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Tue Jul 13, 2010
answered:
Here is one of the problems, people complain that the banks were too lenient, and approved borrowers for loans that they shouldn't have. Now they have tightened their standards and are lending to fewer people, so everyone is complaining that they are not lending. I have not had one person declined for a loan that I told them they would get. Everyone is closing at great rates, and there are no complaints. Can just anyone get a mortgage now, NO. Is there money to lend, YES. No one is lending 100% any more, but 96.5% is pretty close, especially with a seller's concession.

Should someone get a loan if they have not saved any money at all, but are going to go from paying $500 rent to $1500 for a mortgage? Maybe that's not such a good idea. Should people be allowed to qualify for a loan if they have a debt ratio of 55% or more? Maybe not. After all, they deduct 7.65% from their income for SS, maybe 25% for taxes, a bit more for insurance or a 401k, how much is left? Their debt ratio doesn't cover their utilities, cell phone bills, food, gas, clothing. Now who has the problem? We have to do something to fix the way things were. If it means that some people cannot qualify for loans any more, is that a problem?
... more
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Mon Jan 25, 2010
Utz Real Estate answered:
Chad,

I see you are asking about 58 Sheridan, however I'm unable to find any listings that are active or that have been sold recently to give you any information. Can you give any additional information in order for me to give a good answer? Thanks Kevin Utz ... more
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Tue Apr 8, 2008
Rez Kodad answered:
Rob, in addition to Mansur's assessment, here is another tool for instant analysis of most recent activities in your neighborhood!

Reza,
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Fri Mar 7, 2008
Rez Kodad answered:
Pamela, As Ann Marie said, Kentland is a wonderful place to live! It has that urban mix use feeling with shopping and restaurants, banks, and more. Demand for Kentland is very high compare to neighbor subdivisions. As you know, you are in better position than fall of 2007 to buy your home in Kentland. Why? Supply of homes are high, and prices are lower with more room to negotiate to get a great deal. In addition to that, rates are much lower, and affordability is much higher than fall of 2007.

Kentlands is an award-winning neo-traditional community in Gaithersburg, Maryland. Though founded in an area steeped in history, the modern Kentlands was originally conceived on 358 acres in 1988. http://www.kentlandsusa.com/
... more
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Market Conditions in Gaithersburg Zip Codes

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