I recently moved to the Maryland area and am a FTHB. My fiance and I are looking to buy in November or

Asked by James Matthews, Columbia, MD Fri Oct 19, 2007

Decmber but don't know the market. We are thinking of Locus Point(Baltimore) or Columbia (where we currently live). How stable is the market in these two areas? Also our high end price range is $350k, but our agent has been showing us homes really pushing our budget, should I be wary of him trying to maximize commission or is that what we need to pay in these areas?

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Jill Dennis, Agent, Lutherville, MD
Wed Jan 26, 2011
I would suggest that you ask your agent to show you houses within your comfort range. If he is not willing to do that, then you need to ask yourselves if he is working in your best interest.
0 votes
Thomas F. Mc…, , Baltimore, MD
Thu Jan 17, 2008
Everybody is talking about next year being a recession, even from the FED. Usually they are wrong so it is probably over!
I have been a real estate broker for 20 years and I have helped people buy 1000 homes, and they were coming to me in 2005-2006 thinking it was a seller's market and we knew it was over them. We kept thinking where are all of these people coming from? They were coming from New York, and Washington and all over the area to buy but the strong seller's market had started to change in November of 2005. But they rushed anyway.

We got them out pretty strongly but they didn't anticipate the change very well so I don't anticipate they will now.

It is especially great to buy first time or move up. Listen to my website and podcast for December especially.
0 votes
Mark, Home Seller, Halethorpe, MD
Mon Oct 29, 2007
If you have children or are considering having them don't move to Baltimore City, the schools are terrible,
you should consider Baltimore County, the schools in general are much better
0 votes
Becky, Home Seller, Laurel, MD
Wed Oct 24, 2007
Have you considered Laurel? We have a townhome for sale in Montpelier Hills - very low HOA fees - nice quiet neighborhood.
0 votes
David & Lisa…, Agent, Millersville, MD
Fri Oct 19, 2007
It may be that he has an idea of what you would like in his mind and for what you want, the minimum price range is going to be your maximum. This is what we find in most first time buyers. Not that this is a bad thing, but most first time buyers watch the home shows where they show the beautifuly remodeled homes and they want all the nice upgrades, granite counters, tall maple cabinets, hardwood floors, crown moulding, but they also have a lower budget to consider. I know you *should* be able to get all that and more for $350K - you can get a mansion in some areas for that kinda of money, but unfortunately in Maryland that will buy you a nice townhome in most areas. Columbia is a very expensive area, Locust Point is going to be less expensive on average but still probably higher than where you came from. I don't think your agent is trying to maximize his commission, I think he is trying to find you the nicest home that he can and stay within your budget. The market here is great and will even improve because of the BRAC which will really be picking up this time next year. The good thing about Maryland is our underlying economy is very strong, unlike some other areas, so this is helping to keep house values up. They have been stabilizing a bit, have come down in most places from the 2005 high prices, but some places, especially in the first time homebuyer range, have actually continued to increase. It's going to be a good investment for you - good luck!
Web Reference:  http://www.webberteam.com
0 votes
Art Lane, , Howard County, MD
Fri Oct 19, 2007
Although you did not describe exactly what type of home you are looking for, here is some up-to-date analysis of all fee simple properties the two areas you are considering:

Locust Point

During the last 90 days, a total of 9 properties sold.
The lowest price sold was $199,500, built in 1875
The highest price sold was $589,990, built in 2007
The average price sold was $349,410, built in 1929
To see all actively listed, fee simple properties currently on the market in Locust Point, go to:
http://matrix.mris.com/Matrix/Public/Email.aspx?ID=21766328971

Columbia

During the last 90 days, a total of 240 properties sold.
The lowest price sold was $160,000, built in 1899
The highest price sold was $979,900, built in 2004
The average price sold was $411,151, average build in 1982
To see all actively listed, fee simple properties below $350K currently on the market in Columbia, go to:
http://matrix.mris.com/Matrix/Public/Email.aspx?ID=21766464665

There are other considerations involved, which revolve around your lifestyle, e.g. community activities, shopping, schools, crime, etc.

I hope this helps you compare, at least with regard to the current market conditions, the two areas.

Warmest regards,

Art Lane
http://home-sweet-home.us
Web Reference:  http://home-sweet-home.us
0 votes
Eileen Robbi…, Agent, Columbia, MD
Fri Oct 19, 2007
Welcome to Maryland! The entire area has been going through a change in the market from a seller's market to a buyers. Long term, the prospects are continue to be strong. It is about supply & demand & the overall outlook for the economy of the area. BRAC is coming & will bring lots of opportunity to the area. If you decide to stay in the Columbia area, it has remain stable with prices dipping now, for a long time. It remains attractive because of the promixity to both DC & Baltimore, good schools & the quality of life this area offers. What does this mean for you? It means that you have the opportunity to find the right home for you & your lifestyle.
Web Reference:  http://www.eileenrobbins.com
0 votes
Cindy Maves, Agent, Fort Myers, FL
Fri Oct 19, 2007
Are you looking for a townhouse or condo? How much over your maximum amount is your agent showing you homes? if it is by $10-20, 000, he may be showing you homes that he's knows are overpriced, knowing you can make an offer. What are you looking in a home? Have you discussed that?
0 votes
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