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

The last time the Environmental Protection Agency, EPA, made statistics available in 1996, it was estimated that 136 million tons of construction and demolition waste was generated. We can assume that these numbers have probably risen since that time.

Architectural salvage is gaining popularity today. The reclamation or reuse of architectural materials is advantageous for not only environmental reasons; the items salvaged are usually better quality, cost less, and have more character and beauty than newer products.

What used to be a designers secret is much more available to average homeowners in the last 2 decades. Here is Frederick Md, we have the Habitat for Humanity ReStore, where salvaged supplies can be bought and donated. Located at 622 North Market Street, Frederick MD 21701 (301)-662-2988.

I did a Google search on Architectural Salvage in Maryland and came up with a dozen places within 2 hours of Frederick. The Washington Post has a great article about where to find architectural salvage.

You can purchase reconditioned appliances at Peace & Plenty, located at 601 East South Street in Frederick.

Frederick Md Architecture

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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

Frederick Md Real Estate Market Reports provided by The Highland Group
Statistics for August 2011 have been published by MRIS*.
Here are the highlights for 21703 in the city of  Frederick:

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Notes:   This zip code shows 160 active listings, representing roughly a 4 month inventory.    Sellers got an average of 96% of list price this month,  compared to 93% this time last year.   19% of sales were cash deals.

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The inventory has been steadily decreasing, attributing to a low absorption rate. (Absorption rate is the rate at which homes will sell within a given period of time. Unit sales per month.)   Cash buyers are a still a significant part of the sales.   Foreclosures and short sales are making up about 20 to 25% of the monthly sales.

_____________________________________________________________

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

Frederick Md Real Estate Market Reports provided by The Highland Group
Statistics for August 2011 have been published by MRIS*.
Here are the highlights for 21702 in the City of  Frederick:

There are currently 243 active listings in the zip code, representing roughly a 5 month inventory.      Sellers got 88% of list price on average, compared to 94% last year.   27% of sales last month were cash deals.

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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

Frederick Md Real Estate Market Reports provided by The Highland Group
Statistics for August 2011 have been published by MRIS*.
Here are the highlights for 21701 in the City of  Frederick:

The inventory is 246 active listings in the zip code, which represents roughly a 5-6 month absorption rate.    Sellers are getting an average 92% of list price, compared to 92% one year ago.   A large number, 25% of sales last month were cash deals. (The normal number is 7-9%)
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*All statistics are gathered from the MRIS, Metropolitan Regional Information System, and while accurate, are not guaranteed.                                          

 See other Frederick Real Estate Market Reports for comparison.

_____________________________________________________________

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

Home ownership is still desired by a majority

In spite of the inflating and bursting bubbles of the real estate market in the last decade, the dream of home ownership is still alive, according to a 2011 poll of likely voters, commissioned by the NAR,
National Association of Realtors.

In the study, 75% of respondents said they believed owning a home is worth the risk of potential market fluctuations. Of those respondents who already owned a home, 95% stated they were happy with their decision to purchase their home.

Of potential buyers polled, 73% of those who do not own a home view the purchase of a home as a goal for the future. Most respondents also agreed that their home is their best investment, adding that they would advise a friend or family member to buy a home.

Of potential buyers, the top reason for not entering the housing market was difficulty saving for a down payment and closing costs, which is perceived as the biggest barrier to home ownership today.

Call us for our list of approved lenders and get pre-qualified today.

___________________________________________________________

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