MARYLAND REAL ESTATE PRICES AND TRENDS FOR APRIL 2008 and 2007- IT'S TIME TO BUY

MARYLAND REAL ESTATE BUYERS - ATTENTION: IT'S TIME TO BUY. You've been watching prices for homes for sale in Maryland come down and you're wondering if it's time to buy. We believe it is. For two years now, we've been advising buyer to watch and wait. Last year, we recommended buying new construction and our new home buyers purchased lovely homes with wonderful prices and incentives. Unless you're in a very low rental whereby the tax benefit for home ownership, real estate taxes deduction and other reasons to buy are not sufficient beneficial, consider buying new. MARYLAND real estate prices reflect buyers' demands that prices come down. The counties reflected below offer the best opportunities for buyers looking for reduced prices.

DO FORECLOSURES AFFECT NEIGHBORHOOD PRICES?? YES.

Maryland real estate buyers benefit from the affect of short sales and foreclosures in our communities. When a home sells and the appraiser reviews recent SOLD prices for similar homes, the short sales and foreclosures may reduce the average prices. Home owner sellers may hold out for the maximum gain from the sale of their residential property. However, bank owners do not live in the properties, they don't wish to keep foreclosed homes in their inventory of assets and are, therefore, likely to sell at a low price compared to home owner/sellers. Bank sales do, indeed, reduce comparable sale averages.

DON'T MISS THIS GOLDEN OPPORTUNITY. What to do:

1. WE CAN HELP. Obtain the services of an experienced real estate agents, REALTOR, who is experieced selling real estate in your area of choice. It's important to work with an agent who knows the area, not necessarily lives in the area, but has knowledge of the communities, services, schools, transportation matters, etc. of the areas that work for your job commute, child's school needs and your price range.

2. KNOW THE NUMBERS. If you haven't communicated directly with a mortgage company, ask your agent for a loan officer referral. Real estate agents are a wonderful resource for loan company referrals because they work with buyers who successfully close on homes financed by a variety of mortgage companies. You can find your qualifying price range on the Homefinders Mortgage Calculator.

3. DON'T GO IT ALONE. Try to involve your real estate agent in your home search. If you try to do it yourself, you may miss some very nice home buying opportunities. Maryland real estate agents have access, even from the MLS, to far more information about homes for sale than you can possibly find yourself on line. Consumers can see listings of Maryland homes for sale, but can't see full listing information that is visible only to agents who are members of the MLS. The Internet is a good place for home buyers to see what's for sale, but not a good resource for narrowing the list of homes that meet your needs. Work with your agent. It will redound to your benefit.

DEFINITELY A BUYER'S MARKET. Homes in Maryland are at the lowest price in over a year and in some cases over 2 years. Smart home buyers have been patiently waiting for this market trend. Many of the homes now listed are foreclosure / bank owned properties and short sale listings. With the high inventory available, a serious home buyer can not only find a wonderful property to buy, they can get the best price in years.

NEW HOMES IN MARYLAND ARE BEING OFFERED AT DISCOUNTED PRICES. If you are in the price range for a new home, a new home can be a fantastic buy today. New home builders put pressure on existing home owners to meet the market demands of buyers. Most home owners did not lower prices to meet buyers needs, but many new home builders did. New homes are an extremely good buy and the home is new. There's a lot to be said for owning a new home. The appreciation curve for new homes is the best when compared with average appreciation for all homes. Many builders offer additional price reductions for homes in inventory. Your agent will find the best buys on the market for you.

FORECLOSURES AND SHORT SALES IN MARYLAND. Finally, consider foreclosures and short sales. They are now at prices where our home buyers can qualify for and find a home they want to buy in a price that makes sense. The average price for a detached foreclosed single family home in Maryland is 5-10% below the list price for home owner listed properties. Further price reduction may be negotiated for some homes.

NEW HOME PRICES HAVE BEEN REDUCED IN MARYLAND

NEW HOMES IN WAKERSVILLE MARYLAND, $515,000 AND $540,000, AVAILABLE IMMEDIATELY

These homes qualify for the Homefinders New Home REBATE.

The new home in Frederick County above, is value priced at $515,000. Two years ago, this home would have been priced about $150,000 higher. This builder has three homes in inventory priced at $515,000, $540,000 and $575,804 with closing cost assistance. Located in Walkersville, just a short distance from Frederick.

Prices and value have not been this good for years. * * LET'S TAKE A TOUR * *

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.

Homefinders.com Network of Maryland Agents and Brokers Are Full Time REALTORS®. By working with buyer's agents who are REALTORS®, you can be sure that your agent is aware of the responsibilities of a real estate agent to represent the interests of their client whether it be a Virginia home buyer or seller. Homefinders broker partners adhere to the high standards of REALTOR® Code of Ethics.

CONTACT HOMEFINDERS FOR A TOUR OF HOMES. We'll show you what your money will buy in the Maryland real estate market. Homefinders network includes agents and brokers who are experienced with Buyers Agency, Listing Services, Short Sales, Foreclosures and New Homes Sales. Contact us. We can help.