Timonium Home Sale Statistics Past Six Months June-December, 2009

My compilation of the 21093 real estate market statistics for the last six months are here!  The full chart in the link includes data on sales, contract, and active homes from June 22-December 6, 2009.

 

The full chart shows that prices and inventory have stabilized in the Lutherville and Timonium real estate market. There are 4% more houses on the market in the past 12 weeks compared to the 12 weeks prior, but prices have dropped for those sold a small amount — around 2.4%. The prices of houses going under contract have dropped about 5%.

Consistently, there have been about 200 homes for sale in 21093, while on average 9 of those homes are going under contract each week (and 9 new ones listed on average, evening it out). An average of 9 are also settling each week.  There is a large inventory for Timonium homebuyers, so now is the time to buy!

These 21093 home sale statistics show me that pricing correctly is extremely important, to be able to be one of those 9 selling each week. Having your home in move-in condition, and good marketing are also needed in this Lutherville housing market.

Please note that these are statistics from the multiple list. The chart is an overview of the zip code and does not take into account the type (condo, townhouse, single family) or condition of the home. To have a true value understanding of your Timonium home or Lutherville neighborhood, these factors need to be taken into consideration. If you would like a Timonium or Lutherville home price evaluation, please contact me today.

St. Paul’s Lutheran Church in Lutherville to host a Craft Fair November 7, 2009 9am – 2pm

Located in Historic Old Lutherville, St. Paul’s Lutheran Church is a beautiful pillar of the community.

The parish is holding a craft fair on November 7 from 9am-2pm in Spangler Hall. If you are a crafter and would like to sell your wares, please contact them at 410-252-3768 — the tables are inexpensive!

If you enjoy crafts, but are not one yourself, get ready to shop! There will be some great items for yourself and for gifts.

St. Paul’s Lutheran Church is located at 1609 Kurtz Avenue, Lutherville, MD 21093.

Senate Agrees to Extend Homebuyer Tax Credit — Now onto a Vote and the House — What does this mean for Towson Homebuyers?

According to the Associated Press, per their article of 8 pm October 28, 2009, the Senate agreed to extend the Homebuyer Tax Credit for people writing contracts through the end of April, 2010, and settling by the end of June, 2010.

They are also including a reduced credit of up to $6,500 for repeat buyers who have owned their current homes for at least five years.

There will be income limits and sales price limits, all of which will be spelled out when the legislation is officially circulated.

If this passes both the Senate and the House, it is great news for the Towson homebuyers who were hoping to benefit from this credit but were unable to find a home to close on by the current deadline of November 30, 2009. It also helps reduce the artificially inflated market they were competing in due to this looming deadline.

This would also be good news for the Towson home sellers below the agreed price limits because they now have time to get their houses truly ready to sell, get their houses staged, and price it right — without the rush!

I will keep you updated as it hopefully passes through the Senate and hopefully in the House as well before heading to our President’s desk for his signature!

First Time Homebuyer Tax Credit is Running Out of Time

November 30, 2009 seems far enough away. It’s after Thanksgiving, and it’s currently 95 degrees out. Who’s counting?

Towson First Time Homebuyers should be, that’s who!

If you want to take advantage of the First Time Homebuyer Tax Credit, you must get MOVING NOW!

It can take some time to find a house. If we start looking tomorrow, it could take you 30 days to find the perfect place, couldn’t it? Today is August 24. 30 days brings us to September 24. If you are using an FHA mortgage, banks are stating 45-60 days to ensure issues that may arise are covered/taken care of. That brings you to yes, November 24th. What is November 24th? The Tuesday before Thanksgiving. Think of all of the First Time Homebuyers across the US trying to take advantage of this credit. All under the same guidelines, deadlines, etc. How well do you think a closing may go on November 24th????

Keep in mind, if you settle December 1, you will NOT receive the tax credit benefit, even if the delayed closing is NOT YOUR FAULT. You would still not be eligible.

So what does this mean?

Contact me today to GET MOVING and get $8,000 back from the government on your taxes next year. WHAT A GIFT!

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Here is a great chart by Chik Quintans of Blue Sky Mortgage Strategies in Seattle, Washington showing just how little time is left!

$8,000 Tax Credit Can Be Used for Downpayment for Baltimore Homebuyers

**Update May 14, 2009, please see my update that HUD has retracted its statement and that this may NOT be the case everywhere.**

The Secretary of the U.S. Department of Housing and Urban Development announced at the National Association of Realtors summit today that the FHA is going to allow lenders to let First Time Homebuyers use the $8000 tax credit currently in place as a downpayment rather than having to wait until they file their tax returns.

Secretary Donovan stated: “We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a downpayment.”

On the heels of the Fannie Mae & Freddie Mac 105% Refinance Plus Program announced last month, this is a great indication of how the Obama Administration is working hard to stabilize the housing market and the economy in general.

More details will be forthcoming, and until then, the details can be found here.

So, what are you waiting for, Baltimore Homebuyers? THE TIME TO BUY IS NOW! Don’t miss your chance!

Construction has begun on the Charles Street overpass at 695 and 83 Interchange — Will this effect Towson House Values?

Have you been on North Charles Street in Towson recently and wondered what is going on? Or have you been driving around I-695, merging over to I-83 North, and been curious about where the trees have gone?

Well, the bridge over 695 is being rebuilt, like the ones at Dulaney Valley, York Road, and Reisterstown Road.

The Maryland State Highway Administration has a comprehensive plan laid out that began just last month, with an anticipated completion in Fall of 2011.

So, what does this mean for those of us who drive these roads every day? Who live right at that Interchange? Charles Street will have lane closures, usually one in each direction during this time period. Certain times during the construction 695 will have lane closures 8 pm- 5 am. The best location for this information is the Project Newsletter from the SHA, which I have a link to here. These will be updated over the next two and a half years, and I will be sure to keep you updated as the construction continues.

And now, to the Towson House Value question. Will this affect your home price?

• If you live right around where the work is being done, and you want to sell while the construction is happening? Then, well, yes.
• However, if you plan to sell after it is over? Then it will likely help improve your Towson home’s value. There will be a traffic signal instead of the roundabout on Charles.

There will be new sidewalks and bike lanes along Charles street, and along Bellona to Othoridge Road where Orchard Hills Park is located.

The mess that has been traffic along there will be cleared up (thank goodness!).

So, in the meantime, stay tuned. Be calm. Be patient. And know this will be for the best in the long run. Take alternate routes from 695 at York Road or at Timonium Road at 83. And if you need any real estate advice during this time? Well, simply, contact me!

Zillow Zestimates for Towson Real Estate May Be Misleading

Have you ever wondered about those “Zestimates” from Zillow.com ? How accurate are they really?

I pondered this recently, as a listing I have coming on the market in Hunt Valley has a Zestimate about $40,000 LESS than the value determined during my true, in-depth market analysis as a licensed Towson Real Estate Agent. (On the other hand, using their “My Estimator” tool brings the value up to over $110,000 HIGHER than its true value!)  Read more

Another Timonium House Sold Quickly

On January 30th, I wrote about a townhouse in Timonium that sold very quickly due to a smart pricing strategy. The others are all still on the market.

But guess what? A new one came on for $300,000. Sold in THREE DAYS. This one was only 2 BR (they knocked out the wall in between the 2nd & 3rd bedrooms, so it is the same size house as the others), but priced well + showed well = QUICK SALE!

I am excited about the energy in the Baltimore real estate marketplace, got ANOTHER call today about my listing in Hunt Valley at 11626 Hunters Run Drive, an agent who has clients from New York who want to see it as soon as possible.

March is looking very promising for both Baltimore Homebuyers AND Baltimore Home Sellers.

Timonium and Towson High Gas Prices

So, as we all know, gas prices have gotten very high — so expensive that some people are resorting to traveling less, selling their SUVs, or figuring out other ways to save on gas.

This is a great site, called Baltimoregasprices.com — it is put out by gasbuddy.com. What is so neat is that people, as they drive around, see gas prices & send them in. The goal is to work together to save money!

How cool! People taking the time to take care of each other, knowing how much the cost is hurting us all.

The other cool part is that you can check by area. So want Timonium Gas Prices? Well, there is only one person who reported one station. BOOO! Let’s get together and start reporting to HELP EACH OTHER!

Let’s check Towson Gas Prices. ZERO reports! Come on Towson, let’s do this!

Cockeysville Gas Prices. Go Cockeysville & Hunt Valley! (though Mr. 21093 Reporter is located in the Timonium Real Estate zip code — he is very helpful as he heads up the 1-83 Corridor!)

The good news in all of this?

1) There are still many people out there who WANT TO HELP each other.

2) It appears that gas prices in Timonium, Cockeysville, and Hunt Valley are dropping.

3) TIMONIUM REAL ESTATE, TOWSON REAL ESTATE, AND COCKEYSVILLE REAL ESTATE are still BARGAINS, and with all of the amenities & conveniences so close by, you don’t have to drive far or waste gas to get what you need!