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Coldwell Banker Market Watch – April 2011

SPRING IS FINALLY SPRINGING

Coldwell Banker Residential Brokerage

Now that spring has finally sprung, the main question on everyone’s mind is how strong is the spring market?  While it’s still too early to make any solid statements on the overall spring selling season, news of multiple offers are coming in from various regions across multiple price brackets.

This activity indicates that buyers are prevalent and are acting on those opportunities where they perceive value.  Additionally, the homes that are in good condition are making the most impression.

A recent study by Coldwell Banker Real Estate surveyed 300 first-time homebuyers who purchased a home in the last year and found that 87 percent of those queried want to buy homes that are in move-in-ready condition. First-time buyers essentially want to buy a home that is affordable, but don’t want to spend the time and additional money to improve a fixer-upper like they did in years past. The study also found that 67 percent said the market afforded them the opportunity to buy a home sooner than expected.  Half said they found a home in a more desirable neighborhood than expected, and 61 percent were able to get the home at a better price than expected.

This survey is important as it explores what is most important to new buyers and provides insight for those looking to buy or sell in 2011. According to the National Association of Realtors (NAR), first-time home buyers accounted for half of the market in 2010.  For home sellers, the message is clear.  You must price your home competitively and ensure that it stands above the crowd.

Look to the graphs linked on the right to see if this trend is happening in your area. You can also speak to a Coldwell Banker Residential Brokerage real estate sales professional that can provide you with guidance and offer additional insights for your specific neighborhood of interest.

We at Coldwell Banker Residential Brokerage are very excited by the spring activity we’ve seen so far, and our expectation is that it will continue to grow. If you or anyone you know would like to discuss buying or selling a home,  please call me.

To see what specific trends are taking place in your market area, view the graphs below and feel free to contact me so I can provide you with a detailed analysis.  If you would like more information about how to successfully market your property during the winter season, please call me.

Anne Arundel, Baltimore, Baltimore City, Caroline, Carroll, Cecil, Culpeper, Dorchester, Frederick, Harford, Howard, Montgomery, Prince Georges, Prince William, Queen Anne, Somerset, Stafford, Sussex, Talbot, Washington, Wicomico, Worcester

Follow this link to Coldwell Banker Market Watch - January 2011

Originally Posted Here: Coldwell Banker Market Watch - April 2011

Coldwell Banker Market Watch – January 2011

IS 2011 THE YEAR OF RECOVERY?

Coldwell Banker Residential Brokerage

As we kick-off the new year and make resolutions to keep our resolutions, one question is still at the forefront of many minds. Will the housing market and the economy overall improve in 2011?  Depending on what you’re reading or who you’re watching, the opinions of economists and real estate industry watchers are varied.  It’s not easy to predict what the market will do in the coming year, especially without the help of a crystal ball.  However there are some key indicators to follow.

Most agree that the housing market recovery is largely based on the recovery of the job market.  Consumers will make a down payment and purchase a home when they feel financially stable and secure.

According to a U.S. Bureau of Labor Statistics report released in December, 28 states and the District of Columbia posted unemployment rate decreases from a year earlier though the national jobless rate approached 9.8 percent in November.

In December, the Labor Department issued statistics that showed applications for jobless insurance payments fell by 3,000 sending the average in December to the lowest level since August 2008, and fewer workers filed claims for unemployment possibly signaling that the U.S. job market is improving if only slightly.

Another indicator to watch is pending home sale statistics. According to the National Association of REALTORS® (NAR), pending home sales jumped in October, showing a positive uptrend since bottoming in June.  The NAR Pending Home Sales Index rose 10.4 percent to 89.3 based on contracts signed in October from 80.9 in September. Of course the index remains 20.5 percent below when compared to the same time last year as buyers rushed to meet the Tax Credit deadline in 2009.

Overall, these numbers are positive, but we still have some way to go before a full recovery is realized.  ”It is welcoming to see a solid double-digit percentage gain, but activity needs to improve further to reach healthy, sustainable levels,” said  Lawrence Yun, NAR chief economist. “The housing market clearly is in a recovery phase and will be uneven at times, but the improving job market and consequential boost to household formation will help the recovery process going into 2011,” he said.

A sales associate will know how local unemployment rates and pending sales in your immediate area will impact your success.  A review of the graphs linked on the right will help determine how additional factors such as inventory levels and recent sales can affect your home purchase and home sale goals.  If you are in the process of buying or selling a home, please call me.

At Coldwell Banker Residential Brokerage, we are hopeful that 2011 will bring a revived economy and a stable housing market.  I look forward to welcoming in the new year and assisting you with all your real estate needs in 2011 and beyond.  Happy New Year!

To see what specific trends are taking place in your market area, view the graphs below and feel free to contact me so I can provide you with a detailed analysis.  If you would like more information about how to successfully market your property during the winter season, please call me.

Anne Arundel, Baltimore, Baltimore City, Caroline, Carroll, Cecil, Culpeper, Dorchester, Frederick, Harford, Howard, Montgomery, Prince Georges, Prince William, Queen Anne, Somerset, Stafford, Sussex, Talbot, Washington, Wicomico, Worcester

Follow this link to Coldwell Banker Market Watch – December 2010

Originally Posted Here: Coldwell Banker Market Watch - January 2011

Coldwell Banker Market Watch – December 2010

SELLING A HOME DOESN’T HAVE TO BE CHILLY

Coldwell Banker Residential Brokerage

As we hunker down and prepare ourselves for the wintry chill ahead, many home sellers consider taking their home off the market. However, there can be some real benefit for those home sellers who brave the cold and keep their homes on the market during the winter months.

Though it is true that spring and early summer are the heavy selling seasons, not many realize that selling in winter can be just as profitable, and it may even be a better time to feature your property.

During the winter months there tends to be less homes on the market which means less competition.  Less competition gives home sellers more opportunity to showcase their property and make their home stand-out from the rest.

Selling during the winter season will also let home sellers take advantage of the holiday decorations which help to make homes look more cozy and inviting. The lack of leaves on trees can let the light in, and also highlight a wonderful view that would normally be shrouded in spring and summer.

Here are several tips to help you market your home successfully during the winter months.

Clear debris from your gutters to keep ice and snow at bay.  Remove fallen leaves and other foliage before the first snow fall.  If it does snow, make certain that all entrances to the home and driveway are easily accessible and clear of any ice. Be sure to wash the windows to take advantage of any spectacular views, and light a fire during an open house if you have a fireplace.

Of course, work with your sales professional to ensure that your property is properly priced for the market.  Don’t forget that while there may be fewer buyers in the market during the winter, there are still buyers out there who are looking for a deal and their perfect home.

To see what specific trends are taking place in your market area, view the graphs below and feel free to contact me so I can provide you with a detailed analysis.  If you would like more information about how to successfully market your property during the winter season, please call me.

Anne Arundel, Baltimore, Baltimore City, Caroline, Carroll, Cecil, Culpeper, Dorchester, Frederick, Harford, Howard, Montgomery, Prince Georges, Prince William, Queen Anne, Somerset, Stafford, Sussex, Talbot, Washington, Wicomico, Worcester

Follow this link to Coldwell Banker Market Watch – November 2010.

What’s Your House Sign? Take Coldwell Banker’s Quiz to Find Out Today!

What’s Your House Sign? Take Coldwell Banker’s Quiz to Find Out Today!

Have you been relying on your horoscope as your guide to home buying and selling decisions?  If you have, then now is the time to take Coldwell Banker’s Housetrology quiz and find out your sign to see where your real estate future leads.

I’m a confirmed “Contemporarian” … what are you … take the quiz today at Coldwell Banker’s Housetrology site.

Housetrology by Coldwell Banker

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Stephen Howell and Rocky (his lab-mix from the SPCA of Anne Arundel County in Annapolis) now live in Winter’s Chase at Riva Trace in Annapolis, Maryland. He works in the Annapolis real estate market. His website lets people search the Washington and Baltimore metropolitan area MLS. Buyers can also search for waterfront homes along the Chesapeake Bay. His website has current real estate data on Annapolis, Anne Arundel County, and Maryland.