GAITHERSBURG MD REAL ESTATE MARKET REPORT FOR OCTOBER 2007-2008

Oh, My!  I am simply mesmerized by that beautiful map--I can't even comment on the content of this post, Lenn!!  <wink, wink>

Just as in our area, some of the zips are suffering more than others as the market continues to try to stabalize.  Hopefully we'll see a change in early 2009--I know our Sellers are ready for more appreciation in their investments than they've seen in the last two quarters!

Debe.  The difference in the value between the zip codes is because the 20878 and 20882 is because they are in the northern area of Gaithersburg and offer larger lots and higher ranked public schools.  In fact, the 20878 zip is known as "North Potomac".  Potomac, of course, being the "super luxury" area for Montgomery County. 

Lenn,  Schools are a priority for buyers here in Charlotte as well and the higher ranked schools definitely pull up the home values in the various zip codes than the lower ranked schools.  I cannot disclose which are the 'best' schools but, I send every one of my clients to the site that shows the school ranks--even those without children.  I don't want to be asked in 5-7 years to list their home in an area that I can't sell it because of the school rank there! 

Beautiful houses.  Good luck.

Debe.  That's the key, public school ranking.  Most of the information is on line for buyers to research for themselves these days. 

Kenneth.  Thanks. 

Lenn, its just sad how much down the market is, and a huge worry about how much more will it fall before it stablilizes...  but I fear that won't be quick or happen soon.  With each day bringing more layoffs and cutbacks the economy is suffering.  Of course I don't need to tell you that, you see it too.  Hard numbers to swallow for most Americans who were raised up thinking their homes were an investment not a mortgage trap.

Lenn, I like that you combine the market sales report with currently available properties, gives a buyer a direct invitation to begin his research or contact you!

Lenn--I love your market reports...my goal for the new year is to create some great maps like you have for my area.

Some very interesting statistics.  I love your maps as usual.  Thank you for sharing.

Gail.  You wrote:

• "Hard numbers to swallow for most Americans who were raised up thinking their homes were an investment not a mortgage trap"

That is the hard cold truth. 

Silvia.  Home buyers should ALWAYS contact me.

Teri.  Good for you. 

Jim.  Thanks.  Interesting indeed.