The National Association of Realtors (NAR) recently released its annual Housing Opportunity Pulse Survey which questioned Americans from across the nation on their attitudes towards homeownership. According to the survey, homeownership still features prominently as the American dream as nearly 8 out of 10 respondents believe buying a home is a good financial decision.
Also according to NAR and its Pending Home Sales Index, pending home sales have increased for the second consecutive month rising 4.3 percent to 82.3 based on contracts signed in August. The data reflects contracts and not closings. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.
That number is still low when compared to August of 2009 when it was up 103.0, but it is still a sign of improvement and we'll take it. It's clear that we still have a ways to go towards a full housing market recovery. Most industry experts agree that we must have further job creation and healthier consumer confidence to achieve that goal. Those surveyed also agreed that job insecurity and the lack of jobs continue to be the primary obstacle to home ownership and market recovery at this time.
For those in a position to buy, it is still a prime opportunity with historically low interest rates and a wide selection of homes that are more affordable now than ever. NAR's survey respondents agreed, with more than two-thirds of respondents (68 percent) saying that now is a good time to buy a home.
If you are currently in the market to purchase a home, be aware that industry insiders are watching inflation rates closely right now. If inflation rates begin to rise, then so will mortgage rates. If mortgage rates rise, it could price many buyers out of their dream home.
To see what specific trends are taking place in your market area, feel free to contact me so I can provide you with a detailed analysis.
Monday, November 8, 2010
Thursday, October 28, 2010
New Listing Alert! 108 Longwood Road in Roland Park
Don't let this one get away! Lovely 7 bedroom, 3.5 bath Roland Park home has been renovated from top to bottom while keeping its charm & history intact.
Updates include eat-in kitchen, enclosed wrap around porch with bead board ceiling and slate floors, restored pocket doors, butler’s pantry, fully finished basement with in-law suite and more. All this and located within walking distance to the Library, Eddies, Starbucks, and shops.
For additional photos and info go to: http://www.homefindbaltimore.com/ I will be holding an open house from 12-2pm this Sunday. Feel free to contact me for a private showing.
If you're in the market to buy/sell give me a call, I would be happy to help!
Updates include eat-in kitchen, enclosed wrap around porch with bead board ceiling and slate floors, restored pocket doors, butler’s pantry, fully finished basement with in-law suite and more. All this and located within walking distance to the Library, Eddies, Starbucks, and shops.
For additional photos and info go to: http://www.homefindbaltimore.com/ I will be holding an open house from 12-2pm this Sunday. Feel free to contact me for a private showing.
If you're in the market to buy/sell give me a call, I would be happy to help!
Thursday, October 14, 2010
New Listing Alert! 712 Pacific Street in Historic Stone Hill
Dear Clients and Friends,
I want you to be the first to know about my new listing located in one of Baltimore's most hidden historic neighborhoods, Stone Hill.712 Pacific Street is a 3 bedroom, 2 full bath semi-detached home built in 1846 and was home to mill workers back in the mid to late19th century. Truly a step back in time..
As you can imagine this 3 bedroom, 2 full bath home is unique and filled with character from the bygone era such as the glass sunroom, stone walls, original oak floors and woodburning fireplace among so many others.
Yet it has been carefully renovated to today's living standards boasting new HVAC, stainless steel appliances & concrete countertops, recently insulated basement, new gutters, new roof on porch and bead board ceiling.
Tucked away from the hustle and bustle, it makes this neighborhood and home a one-of-a-kind treasure. Priced at $315,000 it's a must see!
We will be open this Sunday from 12-2pm if you'd like to stop by. Otherwise, give me a call or send me an email for additional details or a private showing.
Whether you are in the market for a new home or looking sell, give me a call or send me a quick email since I would love to help!
Wednesday, October 6, 2010
It's a Great Time to Buy!
The renting versus homeownership debate has taken center stage in the headlines lately. Wall Street Journal columnist Brett Arends provided readers with 10 Reasons to Buy a Home. While readers were able to ponder those 10 reasons, the same week the Today Show featured a segment weighing the pros and cons of renting and buying.
All this information can be a lot to digest for many consumers, who are weighing whether to make the most significant financial commitment and investment of their lives. For some people, the decision to buy a home isn't so much about dollars and cents - it's more of an emotional decision based on the desire to have a home that they can call their own. Many people simply want to be their own landlord, with no worries about an expiring lease hanging over their heads.
Almost everyone expects their real estate agent to say:"It's a good time to buy!" Right now, there are several factors that make that statement especially true. Buyers have a wider selection of properties to choose from, at more attractive and affordable prices. Mortgage interest rates are historically low, helping to improve affordability even more. Additionally, homeowners can also save on taxes by deducting mortgage interest from income taxes.
Home prices have stabilized in most markets, and in the long run home values typically enjoy modest gains. According to a recent survey by Fannie Mae, a majority of Americans still believe housing is a safe investment.
All this information can be a lot to digest for many consumers, who are weighing whether to make the most significant financial commitment and investment of their lives. For some people, the decision to buy a home isn't so much about dollars and cents - it's more of an emotional decision based on the desire to have a home that they can call their own. Many people simply want to be their own landlord, with no worries about an expiring lease hanging over their heads.
Almost everyone expects their real estate agent to say:"It's a good time to buy!" Right now, there are several factors that make that statement especially true. Buyers have a wider selection of properties to choose from, at more attractive and affordable prices. Mortgage interest rates are historically low, helping to improve affordability even more. Additionally, homeowners can also save on taxes by deducting mortgage interest from income taxes.
Home prices have stabilized in most markets, and in the long run home values typically enjoy modest gains. According to a recent survey by Fannie Mae, a majority of Americans still believe housing is a safe investment.
Monday, October 4, 2010
6 Things You Think Add Value to Your Home -- But Really Don't
Thought this was a great article! I can't stress enough the issue of inconsistent upgrades.
http://finance.yahoo.com/real-estate/article/110874/things-that-dont-add-value-to-your-home?mod=realestate-homeimprove
http://finance.yahoo.com/real-estate/article/110874/things-that-dont-add-value-to-your-home?mod=realestate-homeimprove
Friday, October 1, 2010
New Cell Phone Law Begins Today!
Just a quick reminder that the new cell phone law begins today. No driving while using a handheld cell phone so get out your earpieces before hitting the road today.
Check out the link for additional info about this new law- http://chevychase.patch.com/articles/marylands-cell-phone-ban-begins
Check out the link for additional info about this new law- http://chevychase.patch.com/articles/marylands-cell-phone-ban-begins
Tuesday, September 21, 2010
Baltimore City Paves the Way for Building Green
(Baltimore, MD – August 31, 2010) Baltimore Housing in partnership with the Planning Department displeased to announce the release of the Baltimore City Green Building Standards (BCGBS). The BCBGS are meant to be a quicker, less expensive alternative to the traditional LEED certification currently required under the Baltimore City Code. The standards will apply to newly-constructed or extensively-modified nonresidential or multi-family residential buildings that have or will have at least 10,000 square feet of gross floor area.
The new standards are innovative and designed to achieve certification for green buildings with guidelines that work with Baltimore’s unique building and land use issues. As awareness of environmental and energy issues has increased, demand for green buildings has also grown as. The BCGBS incorporate elements of the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) rating system and will serve as an ‘incentive’ for green development without additional cost to developers. They are also designed to best achieve the goals of the Baltimore Sustainability Plan.
“The development of the Green Building Standards is another opportunity to show the City’s commitment to being environmentally responsible,” said Mayor Stephanie Rawlings-Blake.
“Baltimore City’s Green Building Standards give developers an incentive to go green,” said Housing Commissioner Paul T. Graziano. “We understand the challenges facing developers and have created a plan that addresses their needs and our commitment. The new standards are sensible, effective, enforceable and will be seamless and transparent.”
Compliance with these standards will, among other things: protect and restore the City’s water supply, reduce Baltimore’s urban heat island effect, encourage alternative transportation and promote and improve access to more green spaces throughout the City
“Certification for green building projects in Baltimore will take less time, because they will be reviewed as part of the City’s existing development review processes,” said Tom Stosur, Director of the Baltimore City Planning Department. “Baltimore City is committed to being eco friendly and this is just another step towards that end.”
The new standards are innovative and designed to achieve certification for green buildings with guidelines that work with Baltimore’s unique building and land use issues. As awareness of environmental and energy issues has increased, demand for green buildings has also grown as. The BCGBS incorporate elements of the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) rating system and will serve as an ‘incentive’ for green development without additional cost to developers. They are also designed to best achieve the goals of the Baltimore Sustainability Plan.
“The development of the Green Building Standards is another opportunity to show the City’s commitment to being environmentally responsible,” said Mayor Stephanie Rawlings-Blake.
“Baltimore City’s Green Building Standards give developers an incentive to go green,” said Housing Commissioner Paul T. Graziano. “We understand the challenges facing developers and have created a plan that addresses their needs and our commitment. The new standards are sensible, effective, enforceable and will be seamless and transparent.”
Compliance with these standards will, among other things: protect and restore the City’s water supply, reduce Baltimore’s urban heat island effect, encourage alternative transportation and promote and improve access to more green spaces throughout the City
“Certification for green building projects in Baltimore will take less time, because they will be reviewed as part of the City’s existing development review processes,” said Tom Stosur, Director of the Baltimore City Planning Department. “Baltimore City is committed to being eco friendly and this is just another step towards that end.”
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