Crofton, MD

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

Owing more than your home is worth in today’s Crofton real estate market is just one of the factors determining whether a lender will approve your short sale. That alone is not enough to qualify for a short sale.

According to America's Home Rescue, you must first be able to satisfy your lender(s) regarding these three factors before most lenders will consider your short sale application:

1. You are behind in your mortgage payments.
2. You have a genuine hardship.
3. You have no equity in the property.

In fact, some lenders have a much longer list and they all require a lot of supporting documentation. On the flip side, some lenders are flexible about these three factors.

Please don’t stop making payments on your home just to qualify for a short sale. The fact is that you’re probably already behind if you do have a qualifying hardship.

You will have to jump through a whole bunch of hoops with your lender, even if you do meet this basic test – and the process will be different, depending on what kind of loan you have. If you owe more than you can get for selling your home, ask your prospective real estate agent if they know the process for short-selling a home with YOUR loan type and/or YOUR combination of first and second trust. (If they know, they’ll be able to explain the difference between your loan type and another.)

Finding a buyer for your Crofton home may not solve your problem. If your agent doesn’t really know the short-sale process, he/she may give you well-intentioned but wrong advice on what is or is not an acceptable short sale offer from your lender's perspective. After weeks or months of uncertainty, your buyer could withdraw or your short-sale application could be turned down and you could lose your home to foreclosure.

If there was ever a time in your life to choose the most experienced real estate agent instead of the cheapest, this is it.

Selling short may not be an option for you, so you need to know “up front” what your chances are of qualifying for a short-sale, what the process is (and follow it!), and what other alternatives there are for dealing with the “under-water” or “upside down” loan on your Crofton home.

My rental client's application was accepted this week for a condo in Crofton, MD. 'Doesn't sound like a big deal in this world of high-stakes real estate buying and selling, but it was very important to him.

It meant the difference between having a roof over his head or not - or, at the very least, between keeping his son in the same school or having to move to another neighborhood when his current landlord decided to sell.

Telling this client the bad news when his first rental application was rejected was tough... and the second... but the third time was charmed, and I couldn't have been happier if it was a multi-million dollar sale.

This rental wasn't a huge victory, like the one Katerina and Nestor Gasset told us about earlier in the week (Short Sale Strategies- When The Lender Blames The Investor- Case In Point), and the commission for any rental is minimal. But this transaction does remind me why I love my job:

It's the people we serve, and helping them achieve THEIR goals, big or small.

Time to show off your new home! This townhome has the special touches that even interior designers love! From the soft custom paint choices, to the upgrades throughout, to the private wooded view from your deck or patio, this townhome looks and feels like a model home!

When you visit us on Sunday, you will find the following details of the home:

Two light filled, HUGE bedrooms with spacious closets and closet organizers

A gorgeous designer ceramic package in the hall bathroom with upgraded lighting, upgraded cabinetry and upgraded hardware

A cook's delightful kitchen includes designer cabinetry, upgraded countertops, upgraded hardwood flooring, upgraded lighting, upgraded appliances, upgraded hardware, and a bay window to enjoy the view!

The living room enjoys upgraded flooring, a sliding glass door to the deck, a fireplace with custom built in bookcases and custom mantle and warm custom designer paint.

The community is minutes to the Waugh Chapel Shopping center to enjoy restaurants, ice cream, coffee shops, a gym, Home Goods and more! It is located just off Route 3/97 and easy access to Fort Meade, Route 50, Route 175, Route 32 but tucked away from the hustle and bustle on a quiet cul-de-sac!

Come visit us this Sunday, September 26th from 1-3 for a community Open House where you will find 1146 Cranston Court, Crofton MD 21114, as well as two others! There will be food and a little something as a thank you for visiting!

Should you have any questions, please don't hesitate to call me - Diane Donnelly, Realtor with Keller Williams Crossroads at 410-320-6551 or my office at 410-766-7878. Also, please go to my website at www.DonnellyGroupRealEstate.com and you will find this home on my features listings photo gallery with several pictures so you can get a glimpse of what awaits you on Sunday!

See you soon!

Diane

The Crofton MD real estate market took quite a hit when comparing August 2009 to the same period in 2008. A 45% reduction in the sales volume and units sold is very uncharacteristic of the Crofton MD market. I don't believe that there is any specific reason to point to, especially since overall sales in Anne Arundel County were up once again.

It does seem though, that new listings are selling quickly. This can be evidenced by the Average Days on Market reduction of -30.59%. That is a pretty big reduction from the same period last year. Inventory is down and good priced listings are selling, in some cases with multiple contracts.

Median and Average sales prices are creeping up but in reality, that is just a reflection of higher priced homes being sold during this period. Oddly, since the first time home buyers market is the one that is very active right now, many of the homes that sold in Crofton MD were in the price range over $500,000. Certainly not a first time home buyers range.

The sales statistics for Crofton MD will stabilize again. Right now, the real estate market in Crofton MD is pretty robust and that doesn't seem to be changing any time soon.

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

©2009 - RichSellsHomes, All Rights Reserved