With all of the discussions about the low interest rates coupled with the low house prices, a question keeps popping up, "Is this the best time to buy a home?" The answer to the above question depends on your personal situation, but a better question that may be answerable is, "Is this the CHEAPEST time [...]
Baltimore foreclosure rates were up in March 2012 versus the same period last year, according to an article by Inman News. The foreclosure rate for the Baltimore-Towson area was at 3.8%, 8th highest in the select markets used in the article. This is an increase of .60% from March 2012. There were 1,262 completed foreclosures [...]
The market for the past few years has been on the buyers' sides, so it isn't surprising to have seen some lowball offers. Recently, the market has been changing in places, and a lowball offer may affect a buyer in ways they had not thought of before. Trulia wrote a post about five facts to [...]
According to a new report run by Trulia, it is more affordable to buy than rent in Baltimore right now! Rentals are at over 92% capacity, per the United States Census Bureau, and rates are high. Meanwhile, the percentage of home price decline from the peak of value is 20.4%, per the Federal [...]
Baltimore Newlyweds have it good, according to a survey run by Rent.com. The survey ask participants about how cohabiting helped or changed them, and how their city has treated them. In the survey, over 75% responded that their quality of life improved since they moved in together. (I hope so! I am surprised it is not higher!) 62% said [...]
Sometimes there are some questions with Baltimore appraisals, and a big one has to do with short sales and foreclosures and whether they are used in comparisons with regular home sales. Short sales and foreclosures are "distressed" properties, often times in lesser condition than their surrounding regular homes. So why do appraisers need to take [...]
Baltimore Zillow Zestimates are still often off from true value, despite the change in algorithms last year. "Desktop Valuations" are a quick way to look at the potential value of a home, but they do not take many factors into consideration, and some of the things they DO use to determine a value should not be used! [...]
USA Today reports that economists, banking and building executives are thinking optimistically of the real estate market in the coming year, and that the housing industry may be finally close to hitting the bottom. The article does clarify, though, that prices are still expected to drop in many areas, but there should be more home sales, [...]
Baltimore County real estate had a few high end home sales in 2011. The five highest home sales in Baltimore County, according to MRIS, our local multiple listing system, included a few farms, and most had a large amount of acreage. 5. 905 Hayfields Rd, Cockeysville, MD 21030. $3,475,000. Listed and sold by Krauss Real [...]
The loan limits for FHA are at a decent amount, thanks to Congress voting to reinstate the loan limits that had been in place before, but had lapsed. Currently, the limit for an FHA mortgage in Baltimore County is $560,000. That was due to drop down to $494,500, which could have really hurt [...]