Towson 21286 Home Sale Statistics December 2011

Towson has held value over the volatile last few years.

Average sales price was actually UP in 21286 to $330,255 from $246,288 last December. Sales were down slightly, with only 11 homes changing hands versus 15 last year, but that makes the average price even more significant.

Three townhouses in Towson sold with an average price of $181,667, but again, just one foreclosure or short sale could bring the average down tremendously when so few homes sold.

Eight detached homes sold, with an average sales price of $385,975. This tells me that the homes sold were most likely in Towson neighborhoods like Hampton, Wiltondale, Temfield, or Hunt Crest Estates.

Here is the detailed 21286 home sales report for December 2011.

Towson 21204 has also held its’ value, and had a good December, as I wrote in my Towson Patch post.

For more information on your Towson house value, contact me. I’d be happy to help!

This Month in Real Estate June 2011

This Month in Real Estate for June 2011 has just been released!

First, Jay Papasan discusses the numbers:

Home sales remained steady in May at a pace of 5.1 million home sales for the past 12 months. The median home sales price is up to $164,000 from last month. The average rate for a 30 year fixed rate mortgage, according to Freddie Mac, was about 4.6%

This month’s top story revolves around repairs sellers usually make prior to selling, which include roof repairs, plumbing, electrical, and HVAC, many issues of which come up on the buyer’s home inspection.

Bryon Ellington discusses more about the home inspection process, and the benefits to buyers of having one:

1) Find out if there are structural problems with the house.

2) “DON’T SWEAT THE SMALL STUFF”. He notes, and he is very right, that it is the home inspector’s job to write everything down that he or she finds.

3) If there is a big issue in the inspection report, consider bringing in a specialist, who will know more about that particular problem (and just how big it may be — or NOT be!)

Keep in mind that the issues found during an inspection may very well be a surprise to the seller too. Try to work together to solve the problems, as in the long run, the goal is for you, the buyer, to buy the house, and the seller to sell it.

Also remember, that no house is perfect!

Contact me for more information on buying a home in Towson, and how important a home inspection may be to your home buying process!

This Month in Real Estate May 2011

This Month in Real Estate for May 2011 is out!

Jay Papasan first addresses the numbers, with both home sales and median price being up over last month. Freddie Mac’s data showed that the average rate for a 30 year fixed mortgage was 4.8%.

Jay then discusses research about the one thing you can do to make sure your house sells for more money.

What is that one thing? STAGING.

Data shows that spending $250 staging a $200,000 home can result in a sales price 2% higher than those that do not. Currently only 1 in 3 sellers stage their homes. Why staging can be important and help get buyers into your home was also discussed in This Month in Real Estate March 2011.

Bryon Ellington discusses what improvements may be necessary and what may not when selling your home.

Things to note:

1. Improvements to your home may not result in full return when you resell your house. In general, the only thing that got the highest return was replacing your front door — and that was only at 85% of its’ initial cost.
2. Though improvements may help a buyer to choose your house over another, it doesn’t mean that they will offer more money.
3. The price of the home matters the most to a buyer.

What this tells me is that Towson houses for sale need to be priced right to bring buyers to the house. Once it is priced right, they may come in to your home and see your great improvements — but don’t expect them to pay extra for those improvements!

This Month in Real Estate April 2011

This Month in Real Estate for April 2011 is out!

First, Jay Papasan discusses the numbers. The current national average for a mortgage rate is 4.8%, according to Freddie Mac.

Then he discusses how much time you should spend with an agent before looking at homes.

The first step should be a buyer consultation, that should last an hour to hour & 1/2. Part of the goal of the buyer consultation is to be able to view the least amount of homes possible to find a perfect match. Much of this is due to the consultation and how much is learned by the agent, and the buyer, about what they really need and want in a home.

Bryon Ellington talks about the important things in buying your first home:

• Get an expert guide. (A professional real estate agent!)
• Which is more important? Location or size?
• What are the benefits of buying a fixer-upper versus a home in good condition? (My additional thought: Does your loan type ALLOW you to buy a fixer-upper?)
• How do you maximize home value appreciation?
• Is neighborhood stability a priority?
• What features and amenities offer the best resale value?

If you are considering buying a home in Towson, contact me so my team can work with you and help make the process as smooth as possible!

This Month in Real Estate March 2011

This Month in Real Estate for March 2011 has been released, and is full of information about rising interest rates and how sellers can showcase their homes best online.

First, Jay Papasan shares that mortgage rates jumped, creating a sense of urgency for some buyers. The average fixed rate for a 30 year fixed mortgage was up to 5.05%, which they had not neared since April 2010.

Pending home sales were up 2% in February over January, which is a normal increase as weather tends to get warmer and we get further away from the holidays. Buyers also hoping to take advantage of low rates were putting contracts in in order to avoid the future rise in interest rates that experts are foreseeing.

Bryon Ellington talks about how a professional real estate agent can help guide you through any type of real estate market.

Recent studies show that 89% of buyers start their home search online, as discussed in the February This Month in Real Estate video. This means that a professional presentation of your home is important!

* Well taken photos are needed to best show your home.
* A professional stager may be very useful to have your home put its’ best foot forward to potential buyers.

To learn how to best market and sell a Towson home, contact me today. I would be thrilled to help!

This Month in Real Estate February 2011

This Month in Real Estate for February 2011 shares that 89% of all homebuyers begin their home search online.

Jay Papasan also shared that home sales were at an annual rate of 5.3 Million with a median home sales price of $168,800, and the national average mortgage interest rate was 4.71%.

For selling a home in the winter, and getting a jump on the spring home sales market, there are some good reasons as to why to list your home now, and ideas that can help to possibly sell yours faster! Bryon Ellington provided some of those thoughts:

1) With less homes on the market, pricing your home right and staging it well will make yours stand out.

2) According to the National Association of REALTORS(R), it takes a buyer, on average, 12 weeks to search for a home. If yours is on the market NOW, then you can catch those buyers ready to enter the spring marketplace right when they get started!

3) Home inspectors, lenders, appraisers, and the like are not quite as busy during the winter months. This may mean things could go more quickly and smoothly than when they are busier. When it comes to home inspection repairs, the licensed contractors and repair persons also may have more availability to make repairs, so they can be completed more quickly and you, and the buyer, can have a quicker peace of mind.

4) The internet makes home shopping in the winter much easier — and appealing — to buyers. With less competition, and if your home is marketed well online, you could be seen by many homebuyers who haven’t even started their official search yet!

To find out the best price for your Towson home and how to make it most appealing to buyers, contact me so I can help!

1 Winthrop Ct – Towson Townhouse
Towson, Maryland – Offered at $239,900.
Withdrawn from the market – seller is staying!

• Download the Brochure (PDF)
• Schedule an Appointment
• Ask a Question
• View Virtual Tour

Explore this wonderful Towson home for sale at $239,900…

• First Floor
• Second Floor
• Finished Basement
• Exterior
• Neighborhood

(Click on Any Picture to Enlarge)

Towson Park Townhouse in Towson, Maryland

This end-of-group townhouse, built in 1955, is located in the Towson Park community of In Towson, Maryland in Baltimore County.

Stainless appliances in the kitchen, gleaming hardwood floors in the living room, dining room and upstairs, this home is very well maintained!

Located off a one-way street on a court with an alley behind, there isn’t much traffic coming through unless people live on your street or behind you.

First Floor

Second Floor

Lower Level

Neighborhood: Towson Real Estate in Baltimore County

The Towson Park community is located in Towson off Fairmount Avenue and Bosley Road in the 21204 zip code. Much of the 21204 zip code has older homes such as this one, in neighborhoods of West Towson, Ruxton, Loch Raven Village, Loch Raven Manor, and Knettishall.

Very nearby is the recently redone & expanded Towson Town Center, as well as new apartments, and the new Towson Safeway.

The Towson Park community has a newly formed voluntary Homeowner’s Association (HOA), which in 2010 included a dumpster day.

Towson is home to many very happy residents. Become one of them!

This Month in Real Estate January 2011

This Month in Real Estate for January 2011 has been released.

The January episode begins with the National Association of REALTORS(R) statistics on how Home Affordability is at an all time high.

Jay Papasan discusses these statistics, sharing that home payments are only 13.6% of the median family household income. In 2007, the percentage was a whopping 20%.

Low home prices in addition to low interest rates make this a great time for homebuyers wanting to own a home!

Bryon Ellington discussed how buyers currently have the upper hand when it comes to the current real estate market. He says that experts predict this will not last for too much longer.

Experts predict a housing shortage in the future because many builders are not currently building, which will create an issue as demand for houses outpaces the supply. This could happen in the next few years. Some even say many areas will see signs of this later this year.

The area closest to the Baltimore real estate market reporting low inventory is Washington, DC.

When the housing shortage hits, sellers homes may be worth more, however, those same sellers would pay more for their next house too — and possibly be in competition with others for it!

For more details on our local market, including the Towson real estate market, contact me. I follow it closely!

21204 Towson Home Sale Statistics November 2010

The 21204 Home Sale Statistics for November 2010 had both highs and lows.

The amount of sales dropped slightly, about 3%, over the same period last year. Here is the report.

The good news is that the average sales price jumped over 44% to $516,938 from $358,083. There were 17 new houses listed to bring the total to 73 currently on the market. Eight went under contract, and eight also settled.

Luckily the days on market dropped from the October Towson Home Sales Report from 292 days down to an average of 102, a huge difference in that month!

As we head into the end of the year, it will be interesting to see how these numbers flux again, and when the end of year report is ready, I look forward to sharing the results of the entire 2010!

21286 Towson Home Sale Statistics November 2010

The 21286 zip code of Towson, MD had decent home sales statistics for November 2010.

Towson real estate encompasses 21286 and 21204. The zip codes have very different market areas and statistics!

The average sold price in 21286 was up 9.36% over the same period last year. That is great news for Towson homeowners! Average sales price went up from $321,777 last November, to $351,887. The total sales dropped 12.51%in the same time, and only 20 homes sold versus 25 last year, a drop of 20%.

17 new homes came on the market, and 15 went under contract in November, leaving a total of 107 currently for sale in 21286.

This tells me that the 21286 home sales market is fairly stable, and I hope to see that for the whole year as I look in January at 2010.

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