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.

This Month in Real Estate December 2010

This Month in Real Estate December 2010 is ready for viewing.

First, Jay Papasan shares that houses on the market as “For Sale By Owner” has dropped from 11 percent to nine percent nationwide.

From a recent poll from the National Association of REALTORS, on average, homes tend to get more money when an agent is involved than when sold as a “For Sale By Owner” (also known as a “FSBO.” Coming up with a correct pricing strategy and preparing the home for sale were two of the biggest difficulties sellers had when getting their homes on the market. The report also states that 80% of FSBO sellers want an agent to handle most of the aspects of the actual sales transaction.

Then, Bryon Ellington talks about full service real estate professionals versus those who may not be.

Full Service Real Estate Agents can help you:

• Price your home according to the market.
• Market your home to other professional agents who represent qualified buyers.
• Post your home on MLS as well as many other websites.
• Hold open houses & provide many other marketing materials
• Can get sellers a higher sales price in less time than sellers attempting to sell on their own or with limited services.

If you are looking for a Towson real estate agent, contact me. I am full service, full time, and love what I do!

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.*

Towson Home Sale Statistics September 2010

Towson home sale statistics for September 2010 fared much better than most of Baltimore County, according to data released by MRIS, the Metropolitan Regional Information Systems, Inc over September 2009.

Focusing specifically on the 21204 zip code, which includes Towson, Ruxton, West Towson, and the Riderwood area, the numbers are very positive, while the majority of Baltimore County home sales were down 25.7%.

Average sold price was up 13.38% from $357,496 last year to $405,325 last month. The one number heading into the negative category was the average days on market, dropping from 125 last year to 64 this September. Great news!

Homes on the market are averaging 89.35 % of their list price when they sell, showing that Towson houses for sale may have two different perceived values when it comes to buyers and sellers.

Contact me for more about Towson house values.

Why Do Some Houses Sell While Others Stay on the Market?

Why do some houses sell while others stay on the market?

A very good question. The answer is rather simple: price & condition.

In a Towson neighborhood where there could be 3 houses that have been on the market for months, a new one comes on. There is a flurry of activity, and the house goes under contract quickly.

Why this one? Why not the others?

The likelihood is that this Towson homeowner had their home in a staged, beautiful condition, and it was priced RIGHT. The other three may have overpriced when they first listed in an attempt to “test the market” or their house isn’t in top notch showing condition.

This video, from Jay Papasan, Vice President of of Publishing for Keller Williams Realty, and co-author of a number real estate best-sellers, demonstrates why some houses in the same market sell while others may not. His graph is a great visual of understanding!

Contact me, your Towson Realtor, to find out true Towson house values.

Timonium Condo FHA Approval

At the end of 2009, HUD changed its’ condo approval process for FHA condo financing.

No longer can a community be given a “spot” approval when a unit goes under contract if a buyer desires to use FHA financing.

Condominium developments must be approved in advance of an FHA sale and the approval is only for a certain amount of time.

Many Timonium condo buildings have been approved already.

Luckily HUD has set up a website to check whether a condo development has been HRAP or DELRAP approved.

I entered the Timonium zip code 21093 to see all approved units. You can do this for any zip code if you are unsure of the condo development’s name!

Contact me if you are considering selling or buying a Timonium condo. I can help you navigate these tough waters!

Towson is CNNMoney’s #14 Top Affluent Singles City

Towson was named CNNMoney.com’s #14 Top Affluent Singles City!

CNNMoney.com named the top 25 cities for highest income per single households, and Towson, MD was #14 in their list.

This is due to the median family income of $102,302, and the 35.4% rate of singles versus married households. Many Towson professors at the nearby Towson University and Goucher College live close to the schools.

Towson Feet on the Street is noted as a big plus for singles living in Towson, as well as the restaurants and bars along Allegheny Avenue.

If you are considering living in Towson, contact me today!

Realtormarney Social Media Panel of Experts with Rick Geha for Keller Williams Realty International

Last Wednesday, I, Realtormarney, was honored to be on a social media panel of experts with Rich Geha for Keller Williams Realty International’s “Spotlight on Social Media” course.

I enjoyed the preparation, and sharing my insights on social media, including twitter, facebook, and blogging.

Even as I shared my expertise, I always learn when in class. I am looking forward to implementing more to make my Towson real estate business even more informative and useful to my clients!

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