for April 2012 provided by the Highland Group,

Notes:  There are currently 904 homes on the market in Frederick County, up just 5% over last month, still historically low. (30% lower than last Spring) This makes roughly a 4-5 month inventory.    Cash deals were down to 4% of sales, a normal number.  The number of pending sales has picked up and we’re seeing a vigorous Spring real estate market, with high demand and low inventory. So can we expect some appreciation?

“Highest Annual Gain in Median Sale Price in DC Metro Since January 2006″  These are the headlines in our emails from MRIS this month. This is based on Aprils Pending Home Sales Index.The DC metro area saw median year-over-year gains of 11.2% We’ve got high demand with low inventory, and traditional listings, those not involving a short sale or foreclosure, represented the highest percentage of closed sales since the foreclosure wave was at its peak.  I’m going to go a little more to the cautionary end of this prognostication for two reasons:

1. This is for the entire metro area. Frederick County is a different market than Montgomery County or Prince Georges County. We still have a large supply of distressed sales that are acting like an anchor on the market. And how do they actually do that?

2. Appraisals are affected by comparable homes, and any given neighborhood in Frederick County has it’s share of short sales. These are affecting appraisals and will be for a little while longer. Even though we’re seeing multiple offers on the some of the really great listings, the buyer may win out by going over list price, but when the appraisal comes in lower than that offer, adjustments will have to be made.

*Other notable sales statistics: Sellers got 93% of list price on average, compared to 91% at this same time last year. Of the 212 homes sold, 44 or 21% of homes sold were Short Sales, 18 or 8% were foreclosures. 1/3 of sales were distressed properties, still a large influence on prices.

Of the 904 listings in Frederick County, 29 are foreclosures (3%), and 125 are short sales (14%).

*MRIS – Mid-Atlantic Regional Information System – These statistics are not guaranteed but are considered accurate. ______________________________________________________

*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

provided by The Highland Group

Statistics for March 2012 have been published by MRIS*.
Here are the highlights for the 21703 zip code in the City of Frederick:

This zip code shows 95 active listings, representing roughly a 2-3 month inventory.  Sellers got an average of 96% of list price this month, compared to 87% this time last year.  23% of sales were cash deals.

Notes:  The inventory is creeping higher, but still at historic lows right now, 904 county-wide. 14% of homes on the market are short sales, 3% are foreclosures. The City of Frederick is still seeing higher numbers of distress sales. ______________________________________________________

*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

provided by The Highland Group

Statistics for April 2012 have been published by MRIS*.
Here are the highlights for the 21702 zip code in the City of Frederick:

*     *     *     *     *

There are currently 92 active listings in the zip code, representing roughly a 3-4 month inventory.   Sellers got 89% of list price on average, compared to 90% last year.  18% of sales last month were cash deals. 24% of homes sold were short sales, 12% were foreclosures.

*     *     *     *     *     *

______________________________________________________

*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

provided by The Highland Group

Statistics for April 2012 have been published by MRIS*.
Here are the highlights for the 21701 zip code in the City of Frederick:

The inventory is 165 active listings in the zip code, which represents roughly a 3-4 month inventory.  Sellers are getting an average 92% of list price, compared to 91% one year ago.  10% of sales last month were cash deals, closer to the normal number of 7-9%. 10% of sales were short sales, 3% were foreclosures.

*     *     *     *     *

______________________________________________________

*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

The Schifferstadt Architectural Museum and the Beatty-Cramer House are owned and operated by FCLF, and they hold many special events at the Schifferstadt. The Beatty-Cramer House can be toured by appointment only, Call 301-668-6088.

There are several upcoming events at the Schifferstadt:

• The Schifferstadt Architectural Museum is open for tours on Saturdays and Sundays, 12 noon to 4 pm.
• Drawing From History, an ongoing art event on the first and third Sundays, 12 noon to 3 pm, from March through May. An open studio setting for artists of all genres.
• Third Annual Trades Fair – Exhibits, demonstrations, flea market and food. Saturday, May 19, from 9 am to 5 pm. This is a good opportunity to learn about building components of historic homes.
• Beyond the Garden Gates garden tour. The Schifferstadt’s “Heritage Garden” is a regular stop on the tour. May 19 & 20, 1-5. Tickets and info at Celebrate Frederick.
• 

Beyond The Garden Gates

Tour Rescheduled…

Due to potential for disruption, heavy traffic and limited parking
as a result of the G-8 Summit scheduled for
Friday, May 18 and Saturday, May 19 at Camp David,
Celebrate Frederick has opted to CANCEL the tour on Saturday, May 19
and it will take place ONLY on Sunday, May 20
with extended hours from 11 AM to 6 PM.
Contact 301-600-CITY with any questions

Use our MLS property search:

___________________________________________________________

The Highland Group

There can be a problem if you have too little credit.  This can lower your score.  Your score will improve if you build a record of maintaining your credit responsibly.  Not having any credit doesn’t help you build that record.  If you don’t have any accounts 6 months old, you might not even have a score.

Between the time your offer on a home is ratified, becoming a contract, and the time you go to close on the home, this is the time your loan is in process.  You should not do anything that will have an adverse affect on your credit score.

What kind of things have an adverse effect?  Glad you asked:

• Don’t apply for new credit of any kind.  No credit cards or lines of credit.  No new car loans.  None of that.
• Don’t pay off collections or charge-offs, unless your lender asks you to.  This is a hard one for people to accept.  Generally, paying off old collections causes a drop in your credit score.  When you do, it brings that particular account to the forefront of your credit.  In most cases, it counts as less of a negative, the older it is.
• Don’t close credit card accounts.  If you close an account, it will affect your ratio of debt to available credit which has to be under a certain ratio.  This accounts for 30% of your credit score.  If you really want to close an account, do it after you close on your home.
• Don’t max out or over charge existing credit cards.  Running up your credit cards is the fastest way to bring your score down; it can drop up to 100 points overnight.  You should try to keep your credit cards to below 30% of the available credit limit.
• Don’t consolidate debt to one or two cards.  Again, you don’t want to change your ratio of debt to available credit.  You also want to keep your good credit history on the books.
• Don’t raise red flags to the underwriter.  Don’t co-sign on another person’s loan, or change your name or address.  The less activity that occurs while your loan is in process… the better.

Use our free MLS property search:

___________________________________________________________

The Highland Group

1. The Zero Down Payment Feature – The fact that a qualifying veteran needs to have no down payment is the main advantage of the loan. The buyer can keep more cash in their pocket.

2. The seller is allowed to contribute up to 6% to the buyer’s closing costs. This is the highest allowable amount of any mortgage, and helps the Veteran who is low on cash. The only drawback to this is that many distressed homes on the market do not allow seller concessions of this amount, if at all.

3. The limits on a VA loan are now $719,000, giving qualified buyers in high property value areas more freedom and more choices.

4.  They do not have a pre-payment penalty, again offering more freedom to buyers.

5.  Private mortgage insurance is not required, knocking off a sizable amount from the monthly payment.

6. VA Loans are assumable. Assumable loans are often overlooked during a time of low rates, but are more prevalent in the news when rates rise. A veteran can get a loan at just below 4% today, and in the coming years, as mortgage rates rise, as they are forecasted, they will be able to sell the home to a qualified buyer who may want to assume their mortgage. 4% rates will make that house very desirable in a future real estate market, when rates may be 5% or even 6% or higher.

The interest rates on home loans have come down and sellers are slashing the prices of their homes. This makes for a great buyers market. If you have been considering buying a new home then Now is the time. If you’re a Veteran, you’ll definitely want to learn more about a VA mortgage loan.

You can use this handy mortgage calculator to see the difference in the two mortgage products, as well as with varying interest rates. If you’re considering a refinance or a purchase, Contact us for a list of recommended Lenders.

_____________________________________________________________

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

Between October and December 2011 1/4 of the refinances done nationally were out of 30-year fixed rates, into 15-year fixed rate mortgages. The 15-year fixed rate mortgage is very similar to the 30-year fixed rate in many aspects, but  the term of the note is half as long. You’re compressing the same debt into 15 years instead of 30 years, so naturally, the monthly payment will be more, usually about 50% more. The savings are gained in the amount of interest paid over the 15 years instead of 30 years. Here is an example on a typical Frederick home:

Scenario of a $300,000 mortgage:

You can use this handy mortgage calculator to see the difference in the two mortgage products, as well as with varying interest rates. If you’re considering a refinance or a purchase, Contact us for a list of recommended Lenders.

_____________________________________________________________

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

for March 2012 provided by the Highland Group,

Here are the highlights:

Notes: There are currently 849 homes on the market in Frederick County, historically low.  This makes roughly a 4-5 month inventory.     16% of sales were cash deals, reflecting a lot of investors in the market. The number of pending sales is picking up foretells a healthy Spring real estate market.

*Other notable sales statistics: Sellers got 92% of list price on average, compared to 91% at this same time last year. Of the 849 homes listed, 127 or 15% of homes are Short Sales, 20 or 2% are foreclosures.

*

*MRIS – Mid-Atlantic Regional Information System – These statistics are not guaranteed but are considered accurate.

See other Frederick Real Estate Market Reports for comparison.

To see homes on the market, use our free MLS search, or contact us for information about the Frederick Real Estate Market.

_____________________________________________________________

The Highland Group

Frederick Md Real Estate Statistics

provided by The Highland Group

Statistics for March 2012 have been published by MRIS*.
Here are the highlights for the 21703 zip code in the City of Frederick:

*     *     *     *     *     *

This zip code shows 75 active listings, representing roughly a 2-3 month inventory.  Sellers got an average of 91% of list price this month, compared to 88% this time last year.  16% of sales were cash deals.

Notes: The inventory is still at historic lows right now, 849 county-wide. 15% of homes on the market are short sales, 2% are foreclosures. The average and median prices of homes purchased in March shows that prices are leveling off.

______________________________________________________

*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