MoCoRealEstate

Archive for April, 2009

Celebrate! You finished your taxes!

April 17th, 2009 Categories: In General

I feel great that I got my federal tax extension in on time, but I’m sure that you went the distance and actually submitted your entire tax return on Wednesday.  I bet that some of you even submitted your taxes weeks ago (I know your type.  You’re also the ones who have all Christmas shopping finished by Thanksgiving, have kids signed-up for summer camp by January and always have perfect yards with nary a dandelion in sight.  Yeah, I definitely know your type).

So what feels better than being done with taxes?  Having all your personal documents shredded and out of the house.  Load them up and bring them to our community shred event this Saturday from 3-5PM.  See all the details here and let us know you are coming!

Posted by Bruce Lemieux | Leave A Comment

Montgomery County inventory of distressed properties evaporating

April 13th, 2009 Categories: Market Updates

Taking a snapshot at total inventory in Montgomery County, inventory of distress sales continues its downward spiral.  The drivers:  low prices and low interest rates.  Most activity is still taking place at the lower end of the market.

Will this trend continue?  I think so.  Employment is still relatively strong and rates are expected to stay low for months.  With dwindling supplies of ‘bargain’ homes, I would expect to see more multiple contracts on the best deals.
__________________________________________________________

Do you have questions about the Montgomery County real estate market? Call us at 301-527-9079 or send an email for more info about buying, selling and living in Montgomery County, Maryland.

Posted by Bruce Lemieux | Leave A Comment

Should you offer $1M on a $1.2M listing?

April 10th, 2009 Categories: Buying, Market Updates

How low can I go when making a purchase offer?

I get this question a lot these days.  I took a detailed look at all sales for 2008 and provided an analysis for list-to-sales price ratios for Montgomery County.  This provided a good overview for the County, but it left basic questions unanswered:

• How does a home’s ‘days on market’ impact reductions?
• Can a buyer get bigger reductions on more expensive homes?
• Does the available inventory affect price reductions?

In this article, we’ll drill into the statistics and get some answers. Read the rest of this entry »

Posted by Bruce Lemieux | 2 Comments »

Great Space and Great Privacy in Darnestown

April 2nd, 2009 Categories: Darnestown

Set back on a large lot and sweeping front yard, this home is private, comfortable and is loaded with great features.  Check-out the kitchen with its large skylight.  Natural light abounds just where you need it most. Tour this great home by viewing lots of big pictures.

Posted by Bruce Lemieux | Leave A Comment

The Lure of Bargains for Upper Bracket Homes

April 1st, 2009 Categories: Luxury Homes, Market Updates

Sometimes a bargain is just too seductive too ignore.  Reduced prices for upper bracket homes in Montgomery County can be a strong lure inviting buyer interest based on price alone.  Still, are these bargains really a great deal?  As with most things in life, the answer is “it depends”.

Overall for Montgomery County, there are 357 homes priced over $1.3M available, and 51 in this price range have gone under contract from January 1st through March 31st. So for the county, we currently have about 22 months’ inventory.  90% of all home sale activity in this price range takes place in the Bethesda and Potomac areas:

So is that home really a great deal for you? Bargains are definitely out there, but with so many homes available, make sure you have an in-depth understanding of the market for your areas of interest.  And, above all, make sure that a getting a “deal” doesn’t distract you from finding the right home for your needs.
__________________________________________________________

Do you have questions about upper bracket homes in Montgomery County? Call us at 301-527-9079 or send an email for more info about buying, selling and living in Montgomery County, Maryland.

Posted by Bruce Lemieux | Leave A Comment