Date 11/16/09
Market Area: Montgomery County, MD 20854
Time Frame: 5/16/09 – 11/16/09
General Market Conditions:
Current Market Condition: Slow
Employment Conditions: Declining
Market Price for This Zip Code Has: Decreased By 4.51% in the past 60-days
There is an over supply of active listings.
Number of active listings: 225
Number of units that are Short Sale Listed in MRIS: 4
Number of units that are REO or Corporate owned Listed in MRIS: 2
Market Activity
Range of values is $379,000 to $9,900,000
Normal marketing time is: 96 Days.
Resale Comments: My independent MRIS research shows that there are currently 225 homes on the market in the 20854 zip code. Most of these homes are overpriced or are in less than ideal condition that do not attract buyers and just sit on the market. The average day’s on the market for these active properties is 180. There currently are 76 properties under-contract. These buyers have found and are expecting and getting a great value-a good home at a good price and with all the competition for their attention, they have a lot of choices. These buyers are really picky. There were 65 properties that sold in the last 60-days. The average day’s on the market was 98. Buyers have a sense of what’s fair market value and what’s not and they just won’t show up if sellers are not in the ballpark. There is currently 5 months of inventory on the market in 20854 zip code. It’s very important that sellers price their home correctly and competitively. Buyers are looking for value pricing and if sellers don’t meet these expectations, they’ll be overpriced and overlooked.
Prepared By:
Aaron Rice, CDPE, CLHMS, CRS, GRI, SHS
www.LuxuryDistressedPropertyExpert.com
443-244-0051
Luxury Foreclosure Trends Report: Baltimore City, MD 21224
Date 10/15/09
Market Area: Baltimore City, MD 21224
Time Frame: 4/15/09 - 10/15/09
General Market Conditions:
Current Market Condition: Slow.
Employment Conditions:Declining.
Market Price for This Zip Code Has: Decreased By 4.56% in the past 60-days.
Estimated Percentages of Owner vs. Tenants in Neighborhood: 50% Owner Occupant 50% Tenants.
There is an over supply of active listings.
Approximate number of units for sale is: 593.
Number of units that are Pre-foreclosure stage: 10 (not listed in MRIS).
Number of units that are Short Sale Stage: 64 (listed in MRIS).
Number of units that are REO or Corporate owned: 30
Market Activity
Range of values is $25,000 to $650,000.
Normal marketing time is: 118 Days (last 6 months).
Resale Comments:
My independent MRIS research shows that there are currently 593 homes on the market in the 21224 zip code. Most of these homes are overpriced or are in less than ideal condition that do not attract buyers and just sit on the market. The average day's on the market for these active properties is 160. There are currently 162 homes under-contract. These buyers have found and are expecting and getting a great value-a good home at a good price and with all the competition for their attention, they have a lot of choices. These buyers are really picky. There were 126 homes that sold in the last 60-days. The average day's on the market was 98. Buyers have a sense of what's fair market value and what's not and they just won't show up if sellers are not in the ballpark. There is currently 8.06 months supply of inventory on the market in the 21224 zip code. It's very important that sellers price their home correctly and competitively. Buyers are looking for value pricing and if sellers don't meet these expectations, they'll be overpriced and overlooked.
Prepared By:Aaron Rice, CDPE, CLHMS, CRS, GRI, SHS
www.LuxuryDistressedPropertyExpert.com
www.MyForeclosureAlternative.com
443-244-0051
Luxury Foreclosure Trends Report: Howard County, MD 21794
Date 10/11/09
Market Area: Howard County, MD 21794
Time Frame: 4/11/09 - 10/11/09
General Market Conditions:
Current Market Condition: Slow.
Employment Conditions:Declining.
Market Price for This Zip Code Has: Decreased By 3.73% in the past 6 months.
Estimated Percentages of Owner vs. Tenants in Neighborhood: 100% Owner Occupant 0% Tenants.
There is an over supply of active listings.
Approximate number of units for sale is: 21.
Number of units that are Pre-foreclosure stage: 2 (not listed in MRIS).
Number of units that are Short Sale Stage: 3 (listed in MRIS).
Number of units that are REO or Corporate owned: 1
Market Activity
Range of values is $400,000 to $965,000.
Normal marketing time is: 192 Days (last 6 months).
Resale Comments:
My independent MRIS research shows that there are currently 21 homes on the market in the 21794 zip code. Most of these homes are overpriced or are in less than ideal condition that do not attract buyers and just sit on the market. The average day's on the market for these active properties is 147. There are currently 4 properties under-contract. These buyers have found and are expecting and getting a great value-a good home at a good price and with all the competition for their attention, they have a lot of choices. These buyers are really picky. There were 6 properties that sold in the last 60-days. The average day's on the market was 184. Buyers have a sense of what's fair market value and what's not and they just won't show up if sellers are not in the ballpark. There is currently 9.13 months supply of inventory on the market in the 21794 zip code. It's very important that sellers price their home correctly and competitively. Buyers are looking for value pricing and if sellers don't meet these expectations, they'll be overpriced and overlooked.
Prepared By:Aaron Rice, CDPE, CLHMS, CRS, GRI, SHS
www.LuxuryDistressedPropertyExpert.com
www.MyForeclosureAlternative.com
Avg List Price $249,856 Avg List Price $259,913 “Bank repossessions, or REOs, jumped 21 percent from the second quarter to the third quarter, corresponding to jumps in defaults and scheduled auctions in the previous two quarters,” said James J. Saccacio, chief executive officer of RealtyTrac. “REO activity increased from the previous quarter in all but two states and the District of Columbia, indicating that lenders may be starting to work through some of the pent-up foreclosure inventory caused by legislative delays, loan modification efforts and high volumes of distressed properties.”
