Mansur and others:
what trends are you seeing in Anne Arundel County? I keep hearing how things are still well. Yet, I just talked with a realtor and he's told me his company hasn't sold a single home last month. Also, I have several of homes on my shortlist that have seen 10-20% price reduction in the last several months. There's also a number of listings that were withdrawn, most likely due to lack of interest or lack of serious buyers. I moved to the Annapolis area about a year and a half ago. At that time, you could hardly see a single family home below 375k. Now, there are quite a few properties in the 300-350k range. In other words, while we hear how everything is fine and dandy, there are numerous examples one can cite in order to prove that there's been a significant drop in prices in AA County.
Finally, do you see this trend reversing any time soon? I know that nobody has a crystal ball, but you can make an educated guess based on various data. All this makes many of us, the potential buyers, quite wary to enter the market, as we hear and see contradictory data and advices.