Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Market Conditions in Annapolis : Real Estate Advice

  • All159
  • Local Info10
  • Home Buying59
  • Home Selling2
  • Market Conditions12

Activity 13
Fri Sep 6, 2013
Donnelly Group answered:
I can pull this information for you Puffy. What Annapolis Zip are you in? I will pull all pertinent data and will send it to your right away.

Diane
0 votes 5 answers Share Flag
Tue Oct 15, 2013
Donna Wisniewski answered:
Hi Lil,
Good question! As a licensed realtor for over 25 years, I find that it is a case by case basis depending on the neighborhood!Prices are based on location so that is the reason it is case by case.It also depends on the type of home and any function obsolesence. You as a buyer have the right to be represented by a buyers agent. A buyers agent is usually be paid by the seller through the multiple list system. Your buyers agent can do a market evaluation of any property for you and let you know if that particular neighborhood is declining in value.My husband,John and I live in Stevensville and are knowledgeable of the area..
Hope this info helps!Donna Wisniewski
www.john-donna.com
... more
0 votes 3 answers Share Flag
Mon Jan 13, 2014
Eva Jenson answered:
I've been showing a lot of tental condos to clients working in dc and wanting to live in Annapolis. If you stay close to rte 50 your commute will be manageable. Send me an email if you would like more info at evajenson@lnf.com. ... more
0 votes 13 answers Share Flag
Sat Sep 18, 2010
Scott Godzyk answered:
I use the folowing guages, if there are full sized windows, if the majority is above grade and if there is a walkout. Such as a door leading outside whether it be the side or rear without having to walk up. It has to be heated, ceilings of at least 7 feet, I complete a ton of bpo's in a week and have noticed that people from different parts of the country have different intrepretations, especially in area's where split level homes are not common if even heard of. Most assessors only count the top floor of a split, i find that is true everywhere i go. I hope these guidelines can help you determeine if you should count it or not in your property. ... more
0 votes 2 answers Share Flag
Wed Apr 28, 2010
Kathy Dawson, GRI, MRP answered:
Puffy,

Thank you for your question. It's my opinion that things have leveled out. I don't think the prices are moving much either way at this time.
0 votes 3 answers Share Flag
Wed Feb 10, 2010
Christine Joyce answered:
Puffy,
I think that owning a home instead of renting is in most cases a good idea. It does depend on how long you are planning on living there. If you will be there for another 2 plus years then you will most likely see a return on your investment. It is a buyers market so you may want to take advantage of todays market conditions and mortgage rates. You will also receive the tax benefits of owning vs renting. The interest you pay on your mortgage is tax deductable. These are just a few benefits of owning vs renting. If you would like to discuss your options further please give me a call I would love to help you weigh your options.
Christine
... more
0 votes 7 answers Share Flag
Wed Jan 27, 2010
Sherrie Weeks answered:
you can email me direct at sherrieweeks@aol.com for that info. I don't know if Trulia site let's you do it but I can pull in in the MLS Regional database for you. Tell me were to email it.

Sherrie
... more
0 votes 4 answers Share Flag
Mon Jan 13, 2014
John Holmes answered:
I wouldn't compare it with prices from two years ago. I would compare it with the prices within the last 6 to 8 months. If you can get it for around 10 to 15% below the current sold comparables then I would say it's a deal. Feel free to send me the address and I can send you a free market analysis to show you whether or not it is priced right.

John

John Holmes
Keller Williams Realty
email: jholmes@kwflagship.com
cell: 410-693-1965
web: www.MidMarylandHomes.com
... more
0 votes 11 answers Share Flag
Tue Jun 3, 2008
J.D. "Dan" & Carol Weisenburger answered:
Steve, I hope you're using a reputable real estate agent with one of their standard contracts. In most states there is a clause regarding the appraisal and in many casses it allows the buyer and seller to reconsider the entire transaction. The important thing to consider is by putting less than 20% down you will be subject to Mortgage Insurance Premium (MIP) payments in addition to the regular mortgage and MIP will not go away until you have amortized the mortgage (paid down) to 80% of the Loan to Value ratio at the time of the original appraisal. Appreciation DOES NOT usually relive the MIP obligation ... more
0 votes 4 answers Share Flag
Sun May 17, 2009
Ania Miller answered:
That is a difficult question to answer, things are definately looking up and moving in the right direction.
I believe that if the Seller has reasonable expectations, and prices the home so that it is "in front of the market" and not "chasing the market" then you have a good chance of selling your property.
You may find the answer by asking yourself "what is my motivation"? and what do I have to do to achieve it?
Ania
... more
0 votes 5 answers Share Flag
Thu Apr 24, 2008
John Holmes answered:
Now that we are clear of the holidays I would say we are going to see a slight increase as more sellers come back into the market that said "I want to wait until after the holidays." You also have people who are looking to move up and are willing to give up a little more equity to sell because they can get it back with the low rates.
Second question - It all depends on the direct competition of those currently on the market (usually within a few miles of the sellers property), condition of the home, how much time do you have to sell it, etc.

You need to think like a buyer and look at your competition to really determine your asking price. Keep in mind with so much inventory buyers can be selective. I hear my buyers say things like "for $3000 more I can get a better kitchen down the street" or "This house has the upgrades we want and it's only $100 more a month." You want your home to look like the "sale" or the "deal" without giving it away.

John

Live in the Crofton Area?
check out www.CroftonAreaNeighbors.com
... more
0 votes 3 answers Share Flag
Thu Apr 24, 2008
James Downing answered:
In Anne Arundel Co for October the Avg Sale Price was 92.34% Avg List Price. Sept it was 91.87%
Comparatively most of the greater DC area has been averging 93-97% most of the year.

Few sellers woud be willing to accept 15% less than asking price; of course it is all depending on the particular property; property condition; days on the market and sellers motivation.

Many sellers cab only an accept an offer that will pay off their exsisting mortgage less taxes, commissions and closing costs. Unless they have owned the home for several years; most sellers could not accept 15% less than asking price, even if they wanted to.

You need to have a Real Estate Agent look at the comparable sales for that particular property. It is hard to use a "blanket average" when making an offer on a specific property.

Keep in mind; traditionally Buyers agents are paid by the sellers not the buyers and your buyers agent must represent your best interests.
... more
0 votes 4 answers Share Flag
Thu Apr 24, 2008
Art Lane answered:
Bonbon,

The worst thing that can happen with a lowball offer is that the seller rejects it outright. Of course that may also set the stage for future considerations of a revised offer with the same seller on a collision track, since a really low offer, just for the sake of a low offer, may signal the seller that you might not be a serious buyer. The other possibilities are that the seller may counter with their own revised price, depending upon the other terms you have included in your offer. Of course they might accept your offer -- you just never (necessarily) know what their motivations are or how anxious they are to sell. The level of seller anxiety is often driven by how long the property has been listed and the time of year your offer is being made. Right now, we're entering into the slowest selling season of the year.

Although I do not know what type of properties or price ranges you might be considering, I've taken the time this morning to pull together all properties that are currently active in Anne Arundel County that were originally listed as far back as April 1, 2007. The included properties must be at least 4BR, 2BA, 2-car and be listed currently for less than $700K. The DOMP number represents the total number of days any property has been on market. Here's the link to the report:

http://matrix.mris.com/Matrix/Public/Email.aspx?ID=22221600049

If I can be of further assistance, please don't hesitate to contact me.
... more
0 votes 7 answers Share Flag
Search Advice
Search
Market Conditions in Annapolis Zip Codes

Followers

273