Will My Timonium House be Worth More in the Spring?

Will my house be worth more in the spring?

Often times, sellers wait for the “Spring Market” to put their house up for sale, since usually buyers are more apt to look, your house looks great with the spring blooms and the winter doldrums over.

The end of 2010 into the Spring 2011 home sales market is looking a bit different — and not in a good way for home sellers.

In reading an article from Keeping Current MattersTM, where the writers reference multiple trend reports, the recovery seems much more likely to be in 2012 than 2011. Once the paperwork is cleared with the banks, more foreclosures will flood the market — with a number coming on that had been held up before. Short sales are still on the rise, which hurt house values.

Economist and trend valueists still show 2011 in a lower curve, expecting prices to drop even more-so in the next 12 months.

So what does this mean for Timonium homes for sale?

Sellers need to price their home correctly to sell within 60 days — before the market drops further!

Sellers should also consider the fact that Timonium homebuyers who are looking right now, are very serious — not just looking for the sake of looking! So if you are a seller considering selling, get it ready, and get it on the market as quickly as possible. Houses tend to look beautiful around the holidays with decorations!

Contact me for more information about selling a Timonium house. I am happy to help!

Mount Vernon Washington Monument Lighting 2010

The Washington Monument Lighting in Mount Vernon happens this Thursday, December 2, 2010, with activities beginning around 5:30 pm!

Always a beautiful event, the ceremony begins around 7 pm with the actual lighting around 7:20 pm.

This is the 39th year of the event, and it is always highly anticipated! This year ELMO stops by — always a fun time for the kids! For adults, there are multiple private events to invite you to enjoy Mount Vernon. For everyone, the Walters Art Museum is offering free admission all day and the Maryland Historical Society is as well, plus they offer the Victorian Open House Celebration from 5-8 pm where you can come inside, warm up & enjoy your surroundings!

The lighting, plus fireworks, music, performances and more make this a must-do event. Last year’s Monument Lighting was cold, with some snow showers, which added to the ambiance.

So come to Mount Vernon to celebrate the beginning of a fun season in Downtown Baltimore!

The Washington Monument is located at Mount Vernon Place by the Walters Art Museum at 600 N Charles Street, Baltimore, MD 21201.

Thank you to KyleB2007 for the YouTube Video

Happy Thanksgiving 2010

I want to take this opportunity to wish you & your families a very Happy Thanksgiving.

Each November, I realize how much I am thankful for, and this year even more so.

I am thankful for the great report my father got last week about the successful chemotherapy treatments have been. The radiologists state that the tumor in his pelvis has disappeared, and the ones in his lungs shrunken very small with no metabolic activity. This means he gets three months free from chemo, and he will hopefully get even more time both with us and without the drugs.

I am thankful for my son, who makes me want to be a better person every single day. He is the most loving, wonderful child I could ever hope for!

I am thankful for my husband, who is patient, kind, intelligent, and helpful.

My clients, who are fiercely loyal, incredibly awesome, and see how hard I work for them.

My friends, without whom, I would go crazy.

There are so many people and things to be thankful for, and I hope you find yourself thinking of whom you may be grateful for.

I wish you a very Happy Thanksgiving, and hope to see you soon!

Hunt Valley House Values October 2010

Hunt Valley house values for October 2010 were on the rise, showing good signs for recovery in the fourth quarter of the year.

Though two less homes settled from the same time last year, average Hunt Valley house values were up 14.64% from $336,862 in October 2009 to $386,167 this October. This is the second month in a row of increasing home sales prices in Hunt Valley!

Also getting better is the average amount of time it takes to sell a home in Hunt Valley — down to 47 days from a high of 161 days in 2009, a drop of 70.81% from this month last year. Great news for homeowners wishing to sell — less hassle because their house is on the market for less time — and their values, in general, have risen!

There are a few factors that could create a false positive in the 21030 zip code, one major one being that many foreclosures had been halted due to the “Robo-signing” controversy, and though Maryland was not one of the states where the lawsuits were filed, while the banks were figuring out the issues, they stopped things in their tracks.

Add onto that the natural yearly slow down of active foreclosures heading into the holiday season, plus the election year, and you have good reasons why it could possibly have looked better than it truly is.

I like to think on the bright side, and view it as the Hunt Valley housing market at the beginning of recovery, but I am cautiously optimistic at this point. I will be following the trend over the next few months, and see how January and February shape up for the 2011 market.

For more Hunt Valley real estate needs, make sure to contact me!

Kennedy Krieger Festival of Trees 2010 at Timonium Fairgrounds November 26-28

The Kennedy Krieger Festival of Trees comes back to the Timonium Fairgrounds right after Thanksgiving, November 26-28, 2010.

Children of all ages anticipate this weekend where it is a Wonderland of decorated trees, Santa, games, crafters, activities, and more!

The train garden is always a huge hit — my son always begs to go back to it — even with all of the rides and games to play!

Milkshake will be there for two performances on Friday, and there will be ballet, dance, comedy, and music performances throughout the weekend.

As I mentioned in my post about the Festival of Trees last year, I want to a few tips before you head to the Maryland State Fairgrounds in Timonium this weekend.

1) Buy your tickets beforehand. If you order them online, you can save $2 off adult admission, and you can pick them up at Will Call at the Timonium Fairgrounds when you arrive. The tickets are good for any of the days it is open. Here is the link to the Kennedy Krieger site to order them.

2) If you have children, GET THE $20 ACTIVITY PACKET (also available to order online prior to & pick up at Will Call). Most of the games & activities require tickets or a wrist band and once your kids see them, they will want to play them. We learned the hard way our first time two years ago, and had to go back to stand in line to buy them. Just get them up front!

3) It can be very crowded at times. Some areas are more crowded than others, but especially at lunchtime around the eating area, it can be very busy.

The Festival of Trees is Friday & Saturday November 26 & 27 from 10 am – 9 pm and Sunday, November 28 from 10 am -6 pm at the Maryland State Fairgrounds in Timonium. The cost before discount is $10 adults, $5 for children 5-12 years old & senior citizens. Children 4 & under are free.

This is so much fun and for a great cause. I hope to see you there!

Downtown Baltimore Dollar Days December 4 & 5, 2010

Downtown Baltimore will be having its’ Dollar or Less Days on December 4 & 5, 2010 as part of the Downtown for the Holidays promotion in the City.

Put together and promoted by the Downtown Partnership, this is a great opportunity to visit many  participating museums, centers, and attractions in Downtown Baltimore — all for $1 or less admission!

Participating museums include the Walters Art Museum, the National Aquarium in Baltimore (which usually costs over $30 per person, so this is a GREAT deal!), the American Visionary Arts Museum (AVAM), the Maryland Science Center, Top of the World Observation Level at the World Trade Center, Historic Ships in Baltimore, and Port Discovery!

The 2009 Dollar Days promotion was such a huge success that many of the museums and attractions wanted to join in again, and there are now 17 places to attend for these inexpensive prices. Know that some have limited availability, so make sure to find out limitations, and requirements, so you are able to take advantage of these great deals!

Enjoy Downtown Baltimore for less on December 4th & 5th . Just another great reason to live and play in Baltimore!

Towson Home Sale Statistics October 2010

The Towson home sale statistics for October 2010, specifically the 21204 zip code, were down in a number of areas, compared with the same time last year.

Total sold dollar volume was down 40.91% and only four houses settled in the month, with seven settling last October. Though there were three fewer settlements, the prices on those four were up 3.4%, averaging $339,150 versus $327,986.

Twenty new homes came on the market, while ten went under contract, leaving 84 active listings for buyers to choose from. The time it is taking for houses to sell skyrocketed over last year, up 58.7% from 184 days a year ago, to 292 days now. This means it is taking, on average, the majority of a year to sell a house in 21204!

September 21204 home sale statistics were much better, which shows things are getting shakier as we head into the winter season. The October Timonium home sales report also showed a drop in number of homes sold, with prices rising a minimal amount as well.

For more details about your particular Towson neighborhood and your Towson house value, contact me!

FHA Condo Recertification Due December 7, 2010

With the many changes in the mortgage industry, it is hard to keep up with what deadlines are coming up next.

On December 7, 2010, the FHA condo recertification process must be completed by each individual condominium complex in order to be eligible for homebuyers to receive FHA financing in their building.

There is an application and process that must be completed in full for the building’s recertification to have the opportunity to be approved. Thank you to Dan Plunkett, of Prosperity Mortgage, a part of the Wells Fargo Home Mortgage company for sharing the two forms they must use to submit for approval.

One is the FHA New Condo Approval Process for condos that have never been approved for FHA financing in the past. These would usually be newly built units.

The other is the FHA Recertification Project Submission Form for developments that were approved before and need to go through the certification process again, which would be most condominiums.

The good news for most Timonium condo owners, most of the ones in the area have already been recertified. I wrote about the updated Timonium condo approvals in August, and even more have been added to the HUD site since.

During these confusing times, it is best to have an agent and a mortgage specialist who understand the muddy waters. Contact me if you are considering selling or buying a Timonium condo. My team of professionals can help!

*Since writing this, HUD & FHA have extended the FHA condo recertification deadlines. Here is more information about the FHA condo recertification deadline extensions.*

Timonium Home Sales Statistics October 2010

Timonium home sales statistics for October 2010 were a marked improvement over September!

September’s 21093 houses sold were down 31% over 2009. October showed an 11.08% drop, with 26 homes settling, but prices were up 9.44%!

30 Timonium homes went under contract last month, and 52 houses came on the market.

The Real Estate Business Intelligence report also shows that the average days on the market dropped 43.84% from a high last year of 146 days to sell down to 82 in October 2010. Sellers are also getting, on average, 91.33% of their asking price, up from 90.60% this time last year.

Each Timonium neighborhood is different so know that even in a shared zip code, statistics are very local.

For an individualized Timonium home price analysis, contact me today!

Maryland Foreclosures in October 2010 Down 52%

Foreclosures in Maryland were down 52.4% in October 2010 from the same time last year.

This is a welcome statistic in the Baltimore real estate market!

According to the Baltimore Business Journal article,

One in every 736 homes in Maryland faced a foreclosure filing in October, down from one out of every 348 homes this time last year. The total number of homes facing or in foreclosure for October was 3,169, compared to 6,661 in October 2009.

Compared to the rest of the United States, which had 1 out of every 389 homes receive a foreclosure notice, these statistics are even better!

Entering the fourth quarter of 2010, this is great news, because the third quarter showed Baltimore foreclosures up 460% over the same time last year.

Keep in mind, that if you have received a foreclosure notice, you may have alternative open to you to avoid going into actual foreclosure. Baltimore short sales are becoming more common, as are loan modifications. A third, if you qualify and have a Fannie Mae loan, could be the Deed-for-Lease program.

Contact me for more information on how to avoid foreclosure in Baltimore. You may have other options!

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