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New Market MD 21774 Real Estate - Frederick County
Home owners and prospective purchasers want to know the trends of the real estate market. The following statistics are for the past month and are compared with the same month last year. There were 14 new listings and 12 went to pending new contracts. The sold dollar volume was up 25.11% from last year. The number of homes sold was 7 from 6 last year. The average days on the market was 63 days from 113 days last year. The average sale price was 94.37% of the average list price. The median sold price was $292,000.
Please let us know if you need to purchase by the end of April to qualify for the tax credit. This is for first time home buyers or current owners that have owned for 5 years.
Do you qualify for a tax credit? The Home Buyer Tax Credit now includes current home owners as well as first time buyers. This link provides the highlights of the program: http://www.federalhousingtaxcredit.com/glance.php
Homes for Sale, Pre-foreclosures, REO: The following three reports show the properties that are active listings of homes for sale in the area. The properties are sorted by subdivisions. You may sort differently by clicking on the column headers.
The first report shows the 48 active listings excluding the lender owned foreclosures (REO) and the short sale listings. Buyers are looking for motivated sellers and some place vacant homes on the first to see list.
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-99209880-443
The second report shows the 8 short sale active listings. Short sales are transactions where the proceeds of the sale will not cover the outstanding mortgages. These are pre-foreclosures. Home buyers need to be very selective when submitting offers on short sales. If the price appears too good to be true, the listing may be unrealistic. Investors are playing the odds by submitting contracts on several properties.
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-99209933-399
The third report shows 3 lender owned foreclosures (REO) for sale. The lender owned properties are vacant and prices are reduced until they are sold by the highly motivated sellers. Many of the REO properties need repairs due to deferred maintenance. Bargains are found in this inventory and well priced properties are attracting multiple offers.
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-99209965-485
Mortgage Financing: It is an ideal time to obtain funds to purchase a residence or investment property. Interest rates are low and are expected to rise during the coming months. Pre-approval for financing is the first step in the home purchase process. Buyers need to have a lender letter in hand when they submit an offer on a property. Buyers should be prepared to fully document their income and obligations. Ask us for a referral if you do not have an existing relationship with a mortgage lender.
FHA loan limits for Montgomery County and Frederick County: $729,750. FHA financing has a minimum cash requirement of 3.5% of the purchase price. FHA Streamlined 203(k) financing allows borrowers to include up to $35,000 of home improvements in the mortgage amount. The limit for FHA reverse mortgages: $625,000. Age 62+ seniors use reverse mortgages when they need to eliminate mortgage payments.
Metropolitan Regional Information Systems, Inc. ZIP Code Statistics - <$100K to >$5M Format
ZIP Code: 21774 New Market, MD
From: 12/01/2009 to 12/31/2009 Statistics generated on: 01/07/2010
| Residential Unit Sales Number of Bedrooms |
Active Listings | Time on Market | ||||||||
| Price Class | 2 Or Less |
3 |
4 or More |
Condo Coop |
Ground Rent |
Residential |
Condo Coop |
Ground Rent |
of Units Sold (No. of Units) |
|
| Under $100,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 -30 Days | 2 |
| $100,000 - 149,999 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 31-60 Days | 3 |
| $150,000 - 199,999 | 0 | 0 | 0 | 0 | 0 | 2 | 1 | 0 | 61 - 90 Days | 0 |
| $200,000 - 249,999 | 0 | 0 | 2 | 0 | 0 | 5 | 0 | 0 | 91-120 Days | 1 |
| $250,000 - 299,999 | 0 | 1 | 1 | 0 | 0 | 9 | 0 | 0 | Over 120 Days | 1 |
| $300,000 - 349,999 | 0 | 0 | 0 | 0 | 0 | 9 | 0 | 0 | Total | 7 |
| $350,000 - 399,999 | 0 | 1 | 0 | 0 | 0 | 15 | 0 | 0 | ||
| $400,000 - 449,999 | 0 | 0 | 2 | 0 | 0 | 6 | 1 | 0 | Type of Financing of Units Sold (No. of Units) |
|
| $450,000 - 499,999 | 0 | 0 | 0 | 0 | 0 | 6 | 0 | 0 | ||
| $500,000 - 599,999 | 0 | 0 | 0 | 0 | 0 | 11 | 0 | 0 | Conventional | 2 |
| $600,000 - 699,999 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | FHA | 4 |
| $700,000 - 799,999 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | VA | 0 |
| $800,000 - 899,999 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Assumption | 1 |
| $900,000 - 999,999 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Cash | 0 |
| $1,000,000 - 2,499,999 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Owner Finance | 0 |
| $2,500,000 - 4,999,999 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | All Other | 0 |
| $5,000,000 & Over | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unreported | 0 |
| Totals | 0 | 2 | 5 | 0 | 0 | 64 | 2 | 0 | Total | 7 |
| Grand Totals | 7 | 66 |
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Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2010 - Information deemed reliable, but is not guaranteed.
Please contact us with your questions on the residential real estate market. Your referrals of friends and family members will always be appreciated.
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FREDERICK COUNTY MD HOMES FOR SALE ARE PRICED RIGHT, NEW, RESALES AND HISTORIC HOMES.
NEW MARKET in Frederick County is a popular location for home owners who like a rural atmosphere but want to be close to major commuting highways. Close to Route 70, Route 270, Route 40, New Market is convenient and offers small town living.
HOMES IN NEW MARKET ARE PRICED RIGHT. The home below offers a completely remodeled interior and exterior with "state of the art" appliances, upgraded flooring, systems and attention to detail hard to find in new homes in the $450,000 price range.
VISIT HERE TO SEE PHOTOS OF THIS RENOVATED PIECE OF NEW MARKET HISTORY.
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| Property Details for listing # FR7169128 | ||||||||||||
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LAKE LINGANORE is a popular community in NEW MARKET with lake front and water view homes in popular price ranges from $300,000 to $800,000.


Properties in New Market are a wonderful example of historic properties preserved for history.

Search Listings of Homes for Sale in Historical New Market Maryland. To tour homes for sale in Frederick County, contact Lenn Harley, Broker, Homefinders.com, 800-711-7988, or E-Mail.
Demographics for Frederick County, MD
--Average Income Families
W/Children, about $99,000
--Average Age 35.7
--Percent Married 62.3
--Percent With Children 39
--Percent High School Graduates 87.7
--Percent College Graduates 37.3
--Average SAT Scores 1033
--Expenditures Per-Student $7,958
--Land Area 662.9 Square Miles
--County Population about 254,000
--Population Growth Rate (5 yrs) 2.1%
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This credit is available to qualifying buyers who sign a binding contract by April 30, 2010, and who close on a new home between Nov. 7, 2009, and June 30, 2010. To qualify, you must have continuously owned and lived in a home for at least five of the eight years leading up to the purchase of a new home.
If you have owned and lived in your current home for at least five years, for example, you can qualify. If you bought the home you're living in now less than five years ago, however, you won't qualify.
The credit is 10% of the purchase price, up to $6,500. As with the first-time-buyer credit, this one is available only for the purchase of a principal residence, not a vacation home or rental property. And if you sell the place or move out within three years, you have to pay back the credit on your tax return for the year you sell or move. Homes that cost more than $800,000 are ineligible for the credit.
Income-eligibility rules are the same as for the first-time-buyer credit. The right to claim the credit disappears as adjusted gross income rises between $125,000 and $145,000 on a single return and between $225,000 and $245,000 for married couples filing joint returns.
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The Many Benefits of Living in Lake Linganore, New Market, MD
Staycations. Take the week and visit all 3 pools, 2 beaches and take a couple hikes around the lake.
Lose that gym membership. Kayaking, canoeing, hiking, mountain biking, swimming will keep you in shape.
Use your golf cart. Explore the neighborhoods and take the kids to and from the bus stop. Eco-friendly and socially inviting environment. (I have witnessed 6 golfcarts at the bus stop!)
Low Maintenance Yard. The typical .25 acre yard with mature trees, shrubs, and rock outcroppings is unique and low maintenance.
Take active part of your community. Lake linganore attracts outdoor enthusists, runners, triathletes, fisherman, youthful, outdoor type people who are involved throughout the communities. Swimteams and trailblazers just to name a few.
Call Kay at 301-455-7591 and own your own Lake Linganore Home
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Top 5 midrange renovations by return on investment
| Project | Job Cost | Resale Value | Cost Recouped |
| Deck addition (wood) | $10,601 | $8,676 | 81.8% |
| Siding replacement (vinyl) | $10,256 | $8,274 | 80.7% |
| Minor kitchen remodel | $21,246 | $16,881 | 79.5% |
| Window replacement (wood) | $11,512 | $8,946 | 77.7% |
| Window replacement (vinyl) | $10,537 | $8,132 | 77.2% |
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