Real estate experts and economists agree that the housing industry is gaining momentum. If you are planning to put your home on the market for the traditional Spring selling season, be advised that Spring has sprung early this year!

Need proof? Here are just a few of the latest headlines from some of the most respected news organizations:

• Home Selling Season isn’t Waiting Until Spring This Year – L.A. Times, Jan. 20
• Housing Offers Hope of Strength in the Economy – New York Times, Jan. 24
• Housing Emerges as Economic Bright Spot After Years in the Dark – Washington Post, Jan. 28
• Home Prices Climb by Most in Six Years as U.S. Market Firms – Bloomberg, Jan. 29 .

Essentially, low interest rates, rising rents and a positive economic outlook are driving buyers who want to realize the dream of homeownership. With limited housing inventory, buyers are competing against one another for those properties that are priced well. This results in bidding wars, which drive up housing prices.

Happy New Year! We in the real estate industry are very happy to ring in 2013. Many real estate industry watchers and economists agree that the real estate market is once again a bright spot in the economy as existing home sales continue to improve.

According to the National Association of Realtors^® (NAR), total existing-home sales in November rose 5.9% from October, and are 14.5% higher than November 2011 nationally. Additionally, the national median existing-home price for all housing types in November was up 10.1% from November 2011. This is the ninth consecutive monthly year-over-year price gain. You can read more in NAR’s most recent news release.

One question is still at the forefront of many minds. Will the housing market continue to improve in 2013? It’s not easy to predict what the market will do in the coming year. However, there are some key indicators to follow and the indicators are positive.

Most agree that growth in the housing market is largely based on the stability of the job market. As reported in Bloomberg, the U.S. Labor Department announced that applications for unemployment insurance payments fell in the week ending December 22, bringing the average over the past month to the lowest level in more than four years.

Lower mortgage rates and higher rents continue to bring more buyers into the market. Buyers also want to take advantage of lower home prices before they rise. Increasingly low levels of inventory are pushing prices higher as bidding wars and competition escalate.

For buyers, the message is clear. If you want to own a home, you should act now. The factors are currently in your favor. For home sellers, the time to sell could be in your favor as well. With lower levels of inventory, you face less competition. With prices steadily rising, you may find yourself in a position to take advantage of increasing equity.

If you are in the process of buying or selling a home, it’s important to discuss these factors with a Coldwell Banker Residential Brokerage sales associate. I can explain how pending sales and inventory levels, shared in the links below, will impact your home buying or selling goals and success.

At Coldwell Banker Residential Brokerage, we anticipate that 2013 will continue to bring a revived economy and a growing housing market. I look forward to welcoming in the New Year and assisting you with all of your real estate needs in 2013 and beyond.

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

As we prepare for the winter months ahead, many home sellers consider taking their home off the market. Don’t do it! In the same vein, if you’re debating whether to wait until spring to put your home on the market, don’t wait.

Buyers shouldn’t wait either. If you are interested in purchasing a home and currently sitting on the fence, you may just lose the opportunity to own your dream home, or pay a great deal more for it.

For the first time in a very long time, industry experts and watchers have been very consistent about the status of the real estate market and they all agree; activity is increasing and prices are rising. There is substantial data that reflects their opinions.

According to the National Association of Realtors^® (NAR), pending home sales are the highest they have been since March 2007. On a year-over-year basis, pending home sales have risen for 18 consecutive months. Prices are rising, as well. According to the S&P/Case-Shiller Home Price Indices, home prices rose over sixth straight months. As reported in Bloomberg, property values in 20 cities climbed 3% from September 2011.

Consumer confidence in the economy and an improving job market are certainly important factors. Additionally, the steady increase in rental costs and incredibly low mortgage rates are driving more and more buyers into the market, creating fierce competition. There is also an incredible lack of inventory. With fewer homes to choose from, buyers are suddenly finding themselves in bidding wars that are essentially driving up the prices.

For sellers, the message is very clear. Put or keep your home on the market, regardless of the winter season, and ensure that the property is in excellent showing condition. With increasing prices, move-up buyers may suddenly find there is enough equity to make a move. Essentially, it is an excellent time to sell a home.

If you are in the market to buy, you will need to come prepared with financing and be ready to make a quick purchase decision and a reasonable offer. Ensure that you are more prepared than your competition, placing yourself in a better position to obtain your dream home.

If you want to gauge whether or not the time is right for you to make your move, look to the county links on the right to see what is taking place in the communities that interest you. Call me today to personally assist you throughout the entire home listing, selling and purchasing process.

Using information included in the links below, along with additional data gathered from your specific community, I can help you make the most of this rare opportunity.

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

Last spring, we witnessed some very advantageous dynamics for home sellers. Active buyers, anxious to take advantage of low interest rates and prices, flowed into the marketplace bringing with them bidding wars and quick home sales. Hundreds of thousands of home sellers and homebuyers achieved their goals. Do you think that you may have missed your opportunity? Think again.

According to the National Association of Realtors^® (NAR), pending home sales in September are up 14.5 percent above September 2011. Additionally, the amount of time homes are staying on the market has dropped 11 percent in the last year according to the latest Realtor.com data, telling us that buyers are still quick to make a purchase decision.

Lower levels of inventory, extremely low interest rates, and rising prices, are propelling buyers to act now. According to a recent release by NAR, total housing inventory available for sale is 20 percent below a year ago. When inventory levels drop, it signifies less competition for the home seller and limited choice for the buyer, which results in higher sale prices. The national median existing-home price for all housing types was up in September, 11.3 percent from a year ago according to NAR.

In the article, A New Housing Boom, by CNN Money, industry watchers are forecasting that home prices could be back to peak levels by 2015. With rising prices however, one can expect rising construction. According to the same article, many experts are forecasting home construction to grow by at least 20 percent a year for the next two years, meaning that home sellers will have more than enough competition in the near future.

How does this information impact you? If you are thinking of putting your home on the market, there is a window of opportunity right now that shouldn’t be missed. Buyers are active, prices are gaining strength, and with limited competition at this moment, the same opportunity that was available last spring, could be yours today. With increasing prices, move-up buyers may find that they have enough equity to finally make their move.Contact me today to determine if now is the right time for you.

Using information included in the links below, along with additional data gathered from your specific community, I can help you make the most of this rare opportunity.

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

Who says spring is the best season to sell a home?  While some believe the optimal time to put a home on the market is in the spring, selling a property during the fall months has several distinct advantages for homeowners to consider.

During the fall, there are typically fewer homes available for sale than in the spring and summer.  This means less competition and properties on the market are more likely to make an impression.  This fall offers a serious opportunity to have a home stand apart in the market.

National trends show buyers are out in greater force, taking advantage of excellent housing affordability and driving up home sales and prices. According to the National Association of Realtors^®, existing home sales rose 7.8% in August from the month before, and were 9.3% higher than a year prior.  Median home prices also rose for six straight months, year-over-year.  And according to the Wall Street Journal, consumer confidence increased in September to its highest level since February, suggesting that spending could rise and help the economy.

These are positive indicators heading into the fall market.  Consumers touring homes during the colder months are serious buyers and eager to purchase a new residence.  Many of those home seekers need to purchase a home because they are relocating to the community due to a job or lifestyle change.

Fall also presents an opportunity to spruce up a home and make it shine to fit the upcoming holiday season.  Open the blinds and curtains to let in more natural light and stage the home with pumpkins, wreaths and other festive decorations. Set the thermostat at a comfortable temperature, warm and welcoming if cold has settled in outdoors.  If the home has a fireplace, arrange furniture so it is the centerpiece of the room.  Staying on top of a property’s upkeep shows buyers the current owners have been diligent about maintaining their home in good condition.  Rake leaves regularly, and clean gutters and downspouts.  Bare trees will make flaws in a home’s exterior more visible, so fall is a good time to power-wash and touch up exterior paint.

Using information included in the links below, along with additional data gathered from your specific community, I can provide and explain the specific factors that could impact your decision making process. You just may discover that fall really is the perfect time to move forward with the lifestyle you desire and Coldwell Banker Residential Brokerage can help.

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

For many families, this month brings with it some significant milestones. Teenagers across the country will move from home and enter the college dormitory. According to the National Center for Education Statistics, this fall, a record 21.6 million students are expected to attend American colleges and universities. Teenagers across the nation have eagerly packed their belongings in anticipation of moving from home toward their bright new futures.

This leaves many empty nesters planning their bright new futures as well, and wondering what to do with the family home. Is it the right time to sell? Will the sale enable the family to afford college tuition and purchase another home at the right price and size? There are numerous factors to consider when making a decision regarding one of the largest investments a family will ever make.

Recent statistics may help in reaching that decision. According to a recent release by the  National Association of Realtors® (NAR), sales of existing homes rose 10.4 percent in July 2012 when compared to July 2011. The national median existing-home price for all housing types in July was up 9.4 percent from a year ago and shows five consecutive months of year-over-year increases.

Many industry watchers attribute this increase to lower inventory levels across the nation. Additionally, the market is ripe for homebuyers. Affordability is the best it has been in years, mortgage rates are still historically low and financing is available for those who qualify.

These factors make it an incredibly advantageous time for empty nesters. If a homeowner purchased their home 10 or more years ago, the home could have a wealth of equity and offer a significant return on investment if sold in today’s market.

Using information included in the links below, along with additional data gathered from your specific community, I can provide you with, and explain, the precise factors that could impact you in your decision making process. You may just discover that now really is the perfect time to move toward your bright new future.

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

Homebuyers are picking up the pace on seeking vacation homes, procuring the lifestyle they want for themselves, their families and their friends. Qualified homebuyers are taking advantage of record low interest rates to buy these properties, but competition for the inventory of homes available is increasing as we continue into the summer months.

According to the National Association of Realtors^® (NAR), vacation home sales accounted for 11 percent of all transactions in 2011, up from 10 percent in 2010. Sales of vacation homes in 2011 also rose seven percent over the previous year.

The research conducted by NAR gives crucial insight into what’s driving vacation home sales. Most vacation home buyers (82 percent) intend to use the property as a private getaway or a location for family retreats. Thirty percent of vacation home buyers plan to one day use the property as their primary residence. Sixteen percent purchased properties for use by friends and relatives, in some cases for a child to live in while attending school. Only 22 percent of buyers plan to rent the home to others. This information shows that vacation home buyers are not just making a financial investment; they are investing in a lifestyle that they desire and building long-term plans around these properties.

Summer inevitably causes many to start thinking about owning a vacation home, and NAR’s recent data supports that it might be wise to act on that notion in the near future. Opportunities also exist for sellers to put their homes on the market if they’ve been holding back.

In May, a limited supply of housing inventory drove up housing prices in all regions. While that limited inventory held back sales a bit, sales remained higher than a year ago and gained for the 11th consecutive month. According to NAR, home affordability is still at a record high, with the relationship between median home price, median family income and average mortgage interest rate at the best it’s been since the organization started keeping track in 1970. The trend of homes prices is clearly upward, with the national median existing home price in May rising 7.9 percent compared to a year ago, to $182,600. This is the third consecutive month of year-over-year price gains, the first time that has occurred since spring 2006.

If you are considering the purchase of a vacation home, it helps to find a real estate agent who has a deep understanding of the local market. Even if you are not located in Annapolis Maryland, I can connect you with an established real estate agent in any city, state or country who can help you find the perfect home. The links on the below will provide you with local market data to help you make a purchase decision and provide comparison.

Please let me know if I can assist you with purchasing a vacation home or a primary residence, whether you’re looking down the street or around the globe. You can reach me at (443) 994-8043.

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

In the last decade, many homeowners approached real estate as a financial short term investment.  That tide has finally turned and buyers are returning to the traditional reasons for purchasing a home.

The survey found:

• A majority of U.S. adults (79%) indicate the recession has caused society to rethink the concept of homeownership.
• In fact, 84% of U.S. adults agree more people took owning a home for granted before the recession, and nearly three-quarters (72%) said they feel like Americans have a greater respect for it now than they did before the recession.
• 75% of U.S. adults agree that due to changes in the housing market and/or economy, there has been an overemphasis on the financial value of a home, rather than the emotional value of a home.

“Instead of looking at homes through the eyes of an economist, we’re realizing that a home doesn’t solely equate to financial return or measure only to a mortgage amount.  Instead, the home is the emotional center of our lives, and it remains a critical component of who we are,” said Ludwig.

The survey also found homeownership is still part of the American dream and that the U.S. becoming a “rent-based” society does not appear plausible.

• 91% of Americans agreed that owning a home is part of the American Dream (93% of homeowners, and 89% of renters).
• 83% of renters said that they want to own a home someday.

Market conditions, financing, price range and inventory can all play a part in the home buying process. Look to links on the right to see some of this information for the area that most interests you.

If you want to own a home and need more detailed information, contact me today to guide you through the home buying and selling process and the benefits of homeownership.

Survey Methodology:

This survey was conducted by Harris Interactive on behalf of Coldwell Banker Real Estate. All data collection was done online within the United States from April 23-25, 2012 among 2,177 adults ages 18 and older (1,457 homeowners and 666 renters).

Market Action Reports By Counties in Maryland:

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

As the temperature rises, so does the real estate market. For the first time in a very long time, positive headlines dominate real estate news sites. Those of us at Coldwell Banker Residential Brokerage are excited for our clients and customers who are making their home buying and selling goals a reality.

With consumer confidence rising, low interest rates, rising rents, and still modest inventory levels, the general consensus with real estate professionals and industry watchers is that this level of activity should continue.

More good news was announced last month when the Federal Housing Finance Agency issued new guidance requiring servicers of Fannie Mae and Freddie Mac loans to speed responses to short sale requests. The guidelines will help expedite the short sale process and essentially give an extra boost to the housing market.

Regionally, prices remain somewhat steady. However it is important to note that in some communities, prices are starting to rise along with the temperature. Look to the links on the right to see what trends are taking place in the communities that most interest you. Real estate is very local and what is reported regionally can vary town-by-town. To know exactly what is happening in your marketplace, contact me to walk you through the graph and share additional insights about your market.

Overall, 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. The message to home sellers is very clear; price your home competitively, follow our Coldwell Banker Residential Brokerage marketing plan, and make those improvements to help your home shine.

For those looking to purchase a home, it is important to come prepared with solid financing, be ready to make a purchase decision and most importantly, be honest about the price. For those markets that are moving quickly, a low, unrealistic offer could result in a missed opportunity. Again, feel free to contact me to help you find a property, and assist you throughout the negotiation process.

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 heat up.

If you’re thinking about buying or selling a home, now is the time to please call me at (443) 994-8043.

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

It is a hot spring season here at Coldwell Banker Residential Brokerage. Not only have temperatures risen, but real estate agents across numerous regions are reporting increased showings at open houses, instances of multiple offers on properties, and offers over asking price within weeks and even days. There is positive excitement in the real estate industry right now that is infectious and exhilarating.

Overall, there has been steady interest and demand from entry level and move-up buyers, but we are also seeing more confidence in the high-end market, with some luxury homes going under agreement fairly quickly. In one instance, a condo priced at $1.495 million recently went under contract in under a week. One home in a suburban neighborhood priced in the $400,000s had incredibly heavy attendance at an open house and received an offer the same day.

Look to the graphs below (follow the links by county) to see if similar trends are happening in the areas that are of most interest to you. You can also contact a Coldwell Banker Residential Brokerage sales professional who can tell you exactly what is happening in your community, and the price points that are experiencing the most interest.

So what has changed to cause this kind of stir and excitement that hasn’t been seen in years? In many areas, prices are no longer falling and have remained somewhat steady. Pent-up buyers also recognize that interest rates could go up and for many, lifestyle changes make it imperative to purchase a home. Consumer confidence is growing and inventory levels are still relatively low, compared to years past.

With this level of activity, buyers need to come prepared with solid financing, and be ready to make a quick purchase decision. Despite the misperception, financing is available for qualified buyers. If you are interested in purchasing a home, please contact a Coldwell Banker Residential Brokerage sales professional who can tell you what you need to do to obtain financing, locate your dream home in your price range and negotiate on your behalf.

For those who are thinking of placing their home on the market, but not sure if now is the right time, contact a Coldwell Banker Residential Brokerage sales professional today. Now is not the time to wait if you want to list and sell your home. There are buyers currently in the market who have financing, and as we’ve seen in the past weeks, are prepared to make a purchase decision now.

If you’re thinking about buying or selling a home, now is the time to please call me at (443) 994-8043.

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

Originally posted on Active Rain at http://activerain.com/blogsview/3131154/it-s-a-hot-spring-coldwell-banker-market-watch-april-2012