Exciting news for the Towson Homebuyer — the 43% of the homes in the Baltimore real estate market are in the “affordable” range — under $250,000, according to the Metropolitan Regional Information Systems, the multiple listing system in our area. Towson’s percentage is lower, however a few neighborhoods that were more expensive before are now in that range!
Reporter Jamie Smith Hopkins wrote a front page article in July 15th Baltimore Sun on how the affordable market has doubled in Baltimore. It is truly exciting, because, as she pointed out, with the first time homebuyer market being generally prohibitive in the past few years, the owners of those homes couldn’t sell, which meant that they couldn’t move up to the next upgrade — causing that portion of the market to stumble.
A catalyst for first time homebuyers right now is the lure of the $8000 tax credit, which is available to them until the end of 2009. Low prices, low interest rates, plus a large credit on your taxes make NOW the time to buy!
If you are ready to take advantage of these incredible market opportunities, contact me for more information.