Frederick Md Homes For Sale – The Historic District

There are Three Hot Topics when we talk about predictions for the Frederick Real Estate Market in 2012. Affordability, Distressed Properties, and Inflation.

Concerning Frederick Home Buyers

Affordability is not just the buzz word, it is the Hot Topic. With the combination of low prices and historically low rates, affordability is at an all time low. Take a look at these infographs for an explanation:

In other words, the percentage of the average household’s budget that goes towards housing costs is below the 30 year average, in fact, the lowest since 1971.

The ratios of average housing prices to average income is also below the 30 year average. And…

The combination of prices and low rates makes for an average housing payment that is below the 30 year average.  It is truly one of the most affordable times to buy a house in the last half century.   That is if…

• Your job is stable
• You have some cash for a downpayment [3.5% for FHA], and
• You plan to stay in the home for 5 to 7 years.

Concerning Frederick Home Sellers

Homeowners and Home sellers are primarily concerned about the value and selling price of their home. The not-so-great news is that we will continue to have a steady influx of distressed sales, ie. short sales and foreclosures, for the next 5 years, maybe longer, depending on the economic recovery.

Concerning Everyone

Inflation is on everyone’s mind. Real Estate is still a good investment and hedge against inflation. Consider these statistics:

and…

This last chart gives a low inflation outcome and a high inflation outcome. Either way, making mortgage payments at today’s low rates for the next 30 years is a guaranteed hedge against inflation.

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The Highland  Group
Chris & Karen Highland *        301-831-9947
Turning Point Real Estate “ 301-831-8232
email us: isell4u2@msn.com
Text Us: 301-401-5119

We’ve had a Makeover… and We’ve Moved!

Check us out at www.AllThingsFrederick.com.

Also… www.karenhighland.com.   Thanks so much for reading!

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The Highland  Group “ Real Estate Teams

Chris & Karen Highland *        301-831-9947
                Real Estate Teams, LLC
email us: isell4u2@msn.com
TEXT US:   301-401-5119

Cartoon Compliments of Readers Digest.com  

Standard & Poor’s Case-Shiller Home Price Indices were published recently, with data up to February 2010.   S&P analyzes a 10-city and 20-city composite as an example of national home prices.

The latest study shows home prices in the U.S. are up 1.4% in the 10-city study, and 0.6% in the 20-city study.   The part that is a mixed result is that in the 20-city study, more than half of the cities had price declines.

This is the first time since the housing prices fell 4 years ago that both studies showed an overall increase, leading  some economists to read it to mean that the bottom is here.

This first graph is the % change over the previous year.   The second graph shows the indeces

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The Highland  Group “ Real Estate Teams
Chris & Karen Highland *        301-831-9947
                                                                          Real Estate Teams, LLC
email us: isell4u2@msn.com
TEXT US:   301-401-5119

Before I was a Real Estate Agent, “Fair Housing” was one of those  terms I really didn’t think much about.   Realtors are very aware of what it means, but we probably toss it around like lots of other jargon without realizing most people don’t always understand the meaning as it applies to them.

I’ll try to explain in the  most concise  way I can:

This month marks the 42nd anniversary of the landmark Fair Housing Act of 1968.   This was a follow up to the Civil Rights Act of 1964  and 1966, which prohibited discrimination but had no federal enforcement.    

The Fair Housing Act states that people may not be discriminated against on the basis of 7 things:  

• race
• color
• religion
• national origin
• gender, as of 1974
• diability, as of 1988
• families with children, as of 1988

It is illegal to discriminate against anyone of these classes in the practice of:

• the sale or rental of housing or residential lots
• in advertising the sale or rental of housing
• in the financing of housing
• in the provision of real estate services
• in the appraisal of housing
• Blockbusting is also illegal

Violators of  the Fair Housing Act can be fined an amount up to $11,000 for a first offense, up to $27,000 for second, and up to $55,000  for further violations, if found guilty in criminal court.   Civil action may also be brought in Federal court with amounts of $50,0000 to $100,000.  

 This is the Fair housing Logo:

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                                                                 The Highland Real Estate Group                                            
                                                 Chris & Karen Highland *        301-831-9947
                                                                                Real Estate Teams, LLC
                                                                    email us: isell4u2@msn.com
                                                                    TEXT US:   301-401-5119

MRIS has published the real estate sales statistics for  Montgomery County for  December 2009*

Note:   There are currently  3689 homes listed for sale in  Montgomery County,  that makes  roughly a  4-5 month inventory.    Inventory is shrinking, prices are stabilizing.      

*Other notable sales statistics:      The largest number of  sales (45%) were  with Conventional  fincancing, 32% were with FHA financing, and 14% were cash.    48% of the  homes that sold last month sold in under 30 days, reflecting great price and good condition.    30% of homes sold were under $300,000, the typical first-time buyer range, showing a stronger move-up market than the previous months.

Compare to Montgomery County Real Estate Market Statistics for  November 2009.   See Frederick County Real Estate Market Report for December 2009.

*All statistics are gathered from the MRIS, Metropolitan Regional Information System, and while accurate, are not guaranteed.

To see homes for sale in Frederick or Montgomery County, use our free property search:

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                                    The Highland Group – Real Estate Teams
Chris & Karen Highland *        301-831-9947
                                                          Real Estate Teams, LLC
email us: isell4u2@msn.com
TEXT US:   301-401-5119