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Market Trends
Commentary Provided byMaureen D'Aiutolo Foreclosures increasing in 2009. Depressing other home values. More owners may end up short selling or foreclosuing because their home values have plummeted. Even if they do not want to move, they may be forced to do so, and will do it at a huge loss. As realtors, we need to get the foreclosures off the market asap by working with first time buyers and getting banks to price them right. Once they are gone, we will stabilize and values will slowly appreciate. |
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| Report Date | Fall 2009 | ||
| Nearest Metro Area | Washington DC | ||
| Buyers’ or Sellers’ Market | More buyers than sellers | ||
| Average Time on Market | More than 120 days | ||
| Market Trend | No Change | ||
| Housing Inventory | Good supply - Some Prices | ||
| Average Home Price | $350,000 - View Graph Trend | ||
| Best Selling Price Range | $350,000 - $399,000 | ||
| Worst Selling Price Range | $700,000 - $749,000 | ||
| Compared to Last Year | Down more than 30% | ||
| Prices As % of Asking Price | 90-95% | ||
| Multiple Offers? | Yes | ||
| Multiple Offers Commentary | Sometimes, if the property is priced aggressively. | ||
| Greatest Activity | First Time Buyers | ||
| Buyer Activity for the past 90 days in North Bethesda is | Increasing | ||
| Seller Activity for the past 90 days in North Bethesda is | No Change | ||
| Is Financing Available For Qualified Buyers in North Bethesda? | Yes | ||
| Existing Home Prices for the past 90 days are | Decreasing | ||
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 45-50% | ||
| Housing Hot Spots | Most cities within the Montgomery County area are considered 'Housing Hotspots' | ||
| Reason to Buy/Sell | Lower prices with good selection and competitive interest rates creates a perfect time to buy in North Bethesda! North Bethesda is in a great location, lots of shopping, transportation, jobs. | ||
| Average Sold Price | $350,000 - View Graph Trend | ||
| National Real Estate Market | |||
| National Summary: National Housing Market Recovery Near? Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there. Click here for full article... | |||
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Maureen D'Aiutolo
Key Realty Group LLC Gaithersburg, Maryland 301-385-0416 maureen@keyrealtyfinehomes.com Agent Home Page 
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North Bethesda Local News
News for North Bethesda, MD - Wednesday July 8th, 2009 1:24pm
Thanks to first time buyers, we have good activity in our area. Buyers want to take advantage of the $8000 tax credit, as well as some of the local grant programs. There are LOTS of foreclosures and short sales, and everyone is looking for a "deal".
Buyers need to move quickly now if they find a home they like. Competition is stiff and we are beginning to run into multiple offer situations again. The biggest mistake buyers are making is thinking they can "low ball" and already deeply discounted property. Not working too well, and in the meantime, someone else is coming along and making a reasonable offer. If you find something you like, put in a good offer. Remember: for major fix ups, there are reconstruction loans available, known as 203K loans.
Buy now as our future is uncertain.
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301-385-0416
