Crofton, MD

Long and Foster agents in Crofton, Maryland, jumped into action when I told them about Operation Christmas Stocking, just five days ago.

There were so many bags and boxes of goodies in my office, two days later, that I could barely make a path to my desk.  Yesterday, several agents and family members showed up to fill 101 holiday gift bags!

Toiletries, toys, playing cards, puzzle books and pencils, notepaper and pens, candy and lots of other things overflowed the holiday gift bags, along with a hand-wrtten Christmas card to say "thank you" to the gift bag recipient.

I'd like to say "thank you" to my office for responding so quickly and generously.  You're amazing!

Crofton Maryland homeowners want to know, “Is the real estate market stabilizing in Crofton?” Using statistics from the five most recent years, I’ll do my best to answer that for you.

Good news:

• More homes sold/settled during September 2009 in Crofton, Maryland, than September of the two most recent years, although we’re nowhere near the number of the bubble year 2006.
  
• More good news: “Days on Market” are down almost 15% from the same month last year, and
  
• Both the average and median prices are up slightly from September a year ago.

My daughter-in-law, Christine, prepared this chart so we can see a five-year trend in all the areas tracked by Metropolitan Regional Information Services (MRIS). I think this expanded look at the Crofton real estate market is necessary to get a true picture of any trends occurring in the Crofton Maryland real estate market:

Not all Crofton real estate news is good, however:

• The number of new non-contingent contracts last month was lower than any September in recent memory – 17 in 2009 vs. 32 in 2006.
  
• The sold price, as a percentage of list price, is down – also the lowest it’s been any September during a 5–year period.
  
• The number of new listings is nearly double the number of new contracts. Until these numbers are more balanced, we can't realistically expect a stable real estate market.

Looking at all these numbers, that last bullet point is the one things that best answers the question, “Is the real estate market stabilizing in Crofton?” As long as new listings outnumber new non-contingent contracts, we will have a supply and demand problem in Crofton Maryland real estate.

Right now, if you divide the number of September listings (155) by the number of new non-contingent contracts (17), you will see a 9+ month absorption rate. The scariest thing about that may be the fact that we don’t know how home values may change during that 9+ month period – they could go down. For that reason, I encourage anyone putting their home on the market now to be aggressive in pricing their home so it sells sooner rather than later.

This chart and my commentary are based on figures for the entire 21114 zipcode. If you’re thinking of buying or selling a home in the near future, you will want information that’s specific to your neighborhood, or at least to the type of home (detached vs. townhome, for example).

Contact me any time for this information or, if you prefer, you can request a MARKET SNAPSHOT online.

P.S. Thanks, Christine, for preparing this chart of Crofton Maryland real estate statistics for September 2009.

It's not too late for you and your office to participate in Operation Christmas Stocking, the nationwide mega-effort to provide Christmas stockings or gift bags to deployed troops. However, time is getting short, since they have to be received in the Salt Lake City warehouse BEFORE NOVEMBER 1.

Just purchase some stockings or holiday gift bags at your local dollar store and ask other agents, lenders, closing attorneys, and even past clients to drop off goodies for filling them. Items don't need to be expensive. We found it efficient to have only about 3 or 4 people actually stuffing the bags, or dividing into teams might be a good option if enough people are participating in the stuffing effort.

Here are some ideas for filling the bags:

Hard candy, socks, games, toileties (toothbrush and toothpaste, deodorant, shampoo, sunscreen, hand cream, etc), yo-yo, playing cards, harmonica, inflatable beach ball, hand sanitizer, pen, paperback books, puzzles, bug spray, chapstick, etc.

Shipping is free, as long as the budget holds out. Here are the shipping instructions.

For more information, visit Operation Christmas Stocking - and get started today. If you're anywhere near Crofton, Maryland, I could use your help. Call me at 410-721-1500 for more information.

PHOTO: Melissa Slye stuffing holiday gift bags for the troops in October 2008.

It wasn't all that long ago that FHA loans were rejected by sellers in Crofton, MD pretty routinely. Look what happens when the market turns.

In September, 2009, FHA loans outnumbered any other type of financing for Crofton, MD home buyers. Conventional financing was a very close second with VA financing pretty strong as well.

Two buyers came up with the cash to purchase their Crofton, MD home. I don't know why, but this still amazes me. Especially when you consider the average Crofton, MD home was $353,841 in September, 2009.

As you can see, if you're a Crofton, MD home buyer, you should consider an FHA loan. Right now, you can receive an FHA loan with 3.5% of the purchase price as a down payment.

If you're not already working with an agent to find your Crofton, MD home, I can help.

If you're SEARCHING for a home anywhere in Maryland, click here to view ALL ACTIVE LISTINGS.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

As you can see from the data above, Crofton, MD home sales had a pretty good month in September, 2009 compated to September 2008.

It's been pretty rare to see every category improve.

Prices are increasing, more units are being sold, and homes are selling faster.

During the month of September, 2009, 35 new listings were added to the Crofton, MD home inventory, while 39 were sold.

In a peek at the near term future, 46 homes went under one of the various contract categories.

A deeper look at the data seems to indicate that pretty much all price ranges are selling in Crofton. Surprisingly strong was the $500,000 - $599,999 price range where 8 homes went to settlement.

From the data, it looks like more than just first time home buyers are fueling the Crofton, MD home sale increases.

If you're not already working with a Realtor® to find that perfect Crofton, MD home, I can help. Call me at 443-995-9595 any time.

If you're SEARCHING for a home anywhere in Maryland, click here to view ALL ACTIVE LISTINGS.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved