MoCoRealEstate

Archive for October, 2009

Montgomery County High School SAT Scores

October 22nd, 2009 Categories: Schools

I recently posted SAT scores for Montgomery County.  This data was taken from MCPS’s current ‘Schools at a Glance’ pages, but these reports don’t have the most current SAT scores.  An author at the Parents’ Coalition of Montgomery County was able to locate a current report which is summarized below. Read the rest of this entry »

Posted by Bruce Lemieux | 5 Comments »

Going from ‘Ratification’ to ‘Settlement’

October 20th, 2009 Categories: Buying, Selling

Once a Buyer and Seller ratify a sales contract, they must jump through a few hoops for ownership to finally transfer. There’s a zillion ways to mix and match contract terms to meet the requirements of the Buyer and Seller, so each contract is different.  Here’s the basics so you know what to expect.

Read the rest of this entry »

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Montgomery County Real Estate Market Overview for October

October 18th, 2009 Categories: Market Updates

A mid-month snapshot of Montgomery County inventory shows that housing inventory continues to shrink, although at a smaller rate than for earlier months. During the course of a month, homes enter the market increasing inventory. Inventory is reduced when homes go under contract and when home sellers give up and remove their home from the market. With this in mind, looking only at inventory won’t reveal a complete view of the market, but it is a critical measure. Declining inventory results in fewer options for buyers and less competition for sellers. Here’s the overview:

Another important metric is the contract activity.  Compared to last year, overall contract activity continues to be robust:

From last month’s review of contract activity, we see that a home’s price range is a big factor in a home’s demand.  Also, comparing this snapshot of contracts with September’s, you’ll notice that the number of contracts for previous months was revised down.  Why’s that?  Once a home goes under contract, the buyer and seller must then get to settlement.  In the coming days, I’ll post an article that walks through this process and how a contract can get derailed.

Your comments are always welcome below.  Contact us anytime for any questions about the Montgomery County real estate market.

Posted by Bruce Lemieux | Leave A Comment

Montgomery County Magnet Schools

October 8th, 2009 Categories: Schools

The Montgomery County Public School System maintains a portfolio of magnet programs available to high performing students in the county.  MCPS’s magnet programs stands apart from other school programs in two important ways:

• Magnet programs are specialized, rigorous programs administered within existing schools that draw students throughout Montgomery County.  To participate, a student will leave their assigned home school.  Transportation is provided by MCPS.
• Students must apply and be accepted into a magnet program.  As a result, placement can be very competitive.

Programs are available in the elementary, middle and high schools.  A summary of all programs with links back to MCPS follow. Read the rest of this entry »

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Montgomery County Closing Costs and HUD1 Overview

October 1st, 2009 Categories: Buying, Selling

Perhaps the best way to understand the costs required to buy and sell a home is to understand the HUD1.  This is a standard two-page document that details all expenses and credits for a home sale.  This video walks through a HUD1 so you can understand the basics:

Closing Costs Estimates for Buyers

Here’s the top four expenses for home buyers in Montgomery County, Maryland Read the rest of this entry »

Posted by Bruce Lemieux | 8 Comments »