Bhavesh, Home Buyer in owing smills, maryland

how do you estimate the Owings Mills Real estate appreciation for next 6 years from now? Any idea to find out?

Asked by Bhavesh, owing smills, maryland Mon Apr 28, 2008

if there are new developments on the way, new highways or malls etc being planned?

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Don Tepper, Agent, Burke, VA
Mon Apr 28, 2008
Estimating real estate appreciation is never certain. Both in general, and regarding the Washington-Baltimore areas specifically, I'd expect continued softness (possible decline of a few percentage points) for the next several years, then a leveling off, followed by nice appreciation. If I had to guess, I'd say someone who buys now in this area will probably see some (but not a lot) of appreciation over 2008 values.

I don't know of any new developments, highways, etc. That's an excellent question. However, keep in mind that in today's economy a new development or mall could well be cancelled. I'm not sure how BRAC affects the area around Owings Mills, if it does at all. That might be something to keep in mind.

My best advice right now is to search for value. If, for instance, you can buy at 20% under market, and even if the market is absolutely flat for the next 6 years, you'll still come out ahead. Even if the market does decline somewhat over the next 6 years, you'd be OK. And if, as I expect, the market will be somewhat higher 6 years from now, all the better.

Hope that helps.
1 vote
voices member, , 21117
Mon Apr 28, 2008
Hi Bhavesh,

Oh, if I only had the crystal ball! But seriously...there is no way to tell for sure. The one thing we can do is hypothsize based on history. If you take a look at the history of the national market, you will see that it goes in fairly predictable cycles. These cycles usually last from 5-7 years. So based on this information, we can fairly safely predict that because the height of the seller's market was in 2005, we still have between 2-4 years to go until we are back on the upswing. If you have futher questions, I would be happy to help. Owings Mills is my market! My email is ldevnew@cbmove.com. Hope this information helps.
1 vote
Richard Peeb…, Agent, Hunt Valley, MD
Sun May 25, 2008
Bhavesh, If you're question is based on whether to buy a house now or not. The answer is - if are you planning to stay in the property for the next 5-years (the national average), then YES buy. Real estate is the best investment you can make, like blue chip stocks it will on average always appreciate in value. With this buyers market we are currently in their are some amazing opportunites available - buy below market value - have the seller pay all your closing costs - $1,900 total cash needed.
Conversely, if you already own a house and are just wondering about your investment, in general my answer applys as well. As far as new highways, malls, etc, call the Baltimore County Dept of Planning & zoning in Towson. Hope this answers your question.
0 votes
Judie Mitnick, , Maryland
Wed May 21, 2008
Because so much of our economy"s volatility effects the real estate market greatly,giving a definite answer would be impossible. However,an educated guess would say that in 6 years from now the value of property inOwings Mills would be better than it is now. The market tends to go in 5yr cycles.The year 2005 was the top of the cycle. That means after some additional drop expected in the next two years the market will level out. So in 6 years from now the value of property should have increased from the year 2008 by a substanial degree. Hope this helps any further questions e-mial me at jmitnick@cbmove.com
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