If you need assistance, please call 410-505-8268

Blog

Friday, October 14, 2022   /   by Nick Waldner

What Is Our Current Market Like?

Our market has seen a shift, but it’s still a good time to buy and sell.

“How is the market?” is probably the most common question that agents get asked, and that’s what we’ll talk about today. The only way to answer that question is with statistics. 
 
The median sales price in the Baltimore Metro Market has gone up in the last 30 days. Why is that? The median price is based on people that are buying in August. They got the August interest rate, and now they're settling. We're also seeing a lot of other changes in the market. Showings are down almost 30%, closed sales are down almost 26%, and buyer demand is down 15%, with 6% of that dropping last month alone.

"Don't believe everything you hear in the news."
 
Every time the Fed raises interest rates, it pulls buyers out of the market. However, houses are still selling well and in under two weeks. We’re still helping buyers into homes at low interest rates and helping sell ...

Tuesday, October 11, 2022   /   by Nick Waldner

Explaining the Maryland Real Estate Market

The recent changes in our Maryland housing market and how they affect you.

What is happening in the Maryland real estate market? I get a lot of questions from homeowners and prospective buyers about the changes in our market. That’s why I’m here to be your guide and help you understand what is happening. Today I’m breaking down some of the shifts in inventory, interest rates, home prices, and the market as a whole. Here are some common questions and their answers: 


1. Is it a buyer’s or seller’s market? It is absolutely still a seller’s market. Inventory remains low while demand is high.


2. What does the current housing inventory look like? While we are starting to see inventory rise, we’re still well below pre-pandemic levels.


3. How does the inventory affect home values? As more homes come on the market, the demand for particular homes is falling. Over the last few years, we’ve seen increases of 15% to 30% in ho ...

  real estate

Friday, September 30, 2022   /   by Nick Waldner

How Do You Buy A House Before Selling Your Current One?

          

Three options for those who need to buy a home before selling.


Talking Point #1: Make an offer with a home-sale contingency
 
By including a home-sale contingency in your offer, you can purchase the new house once your existing one sells successfully. If your current home doesn’t sell within a certain time frame, you can cancel the purchase contract without any penalties. To sweeten the deal, your agent can explain to the seller that your house will likely sell fast in today’s market.
 
 
Talking Point #2: Finance with a bridge loan
 
A bridge loan is a short-term, high-interest loan. When you buy with a bridge loan, you can use your existing home as collateral to get a loan for your new house. To close your bridge loan faster, try to align the closing dates of your buying and selling transactions.
 
 
Talking Point #3: Use a service that will help you make a cash offer.
 
Compan ...

  home selling, nome buying, real estate

Monday, September 19, 2022   /   by Nick Waldner

How Inventory Affects Home Values

          

Here’s what you need to know about our country’s total home sales.


Instead of answering the usual “how is the market?” question, we’ll switch things up by covering the number of home sales and how that affects the value of your home in today’s market. 


In 2021, there were 6.1 million home sales across the country. The most houses sold since 2006. In 2022, we’ll likely have 5.1 million homes in the U.S. That is a decline from last year, but the number is still in line with where it should be year after year. 


However, when you determine the value of your home, you can’t do it by just looking at the national level. You have to be more local and understand the market in your county, zip code, or subdivision. 


If you want us to review your home and find out how it compares to the other 5.1 million properties on the market, or if you have any real estate concerns, c ...