Odenton, MD

I just met with some prospects today that are looking for a rental home when their lease is up at the end of September and they liked the house that I showed them. However in all likelihood, that home will not still be there for them in anymore than 30 days from the time it is listed with the way the rental market is moving in our area at this time.

If you current have a home in the area that you are going to list for rent or are in the market to find a new home to rent, you really will not need to be active any sooner than 45 days from when you want to do either. In all likelihood, 30 days is plenty.

As less people have been buying, more people are renting. As an example I recently helped some tenants move into a home for rent in Piney Orchard. The house was listed at (or slightly above market value). It was active on the market for 5 days and had 17 showings with 4 applications registered on it. It rented for $400 more per month than it would have rented for 3 years ago or less.

If you are a prospective tenant expect to see limited inventory and multiple tenants interested in every home. As a landlord, do not be afraid to raise your rent. The supply is being outpaced by demand and qualified tenants are willing to pay a premium for nice homes. If you are landlord and you have been renting a home for more than 2 years now, contact me for a market update. It may surprise you what the rental rates are in today's market and how quickly you can command that rent as well.

Now who would have thought a few short years ago that you could own a wonderful Piney Orchard townhouse for under $300,000? No one really. After all Piney Orchard is a much sought after area and home prices went up along with the demand.

Yet like many things in life sometimes things needs to adjust and Piney Orchard is doing just that. And because it is you can now purchase some great townhouses for UNDER $300,000. Here's a great example.

Four bedrooms, three full and one half bath, three big levels, updated heating and air, appliances, flooring and more, big deck overlooking beautiful trees and a courtyard that is fenced and private. All this for under $299,000. How do I know this is such a great deal??? It is my listing. 2421 Winding Ridge Rd.

So what does all of this mean???

It means you are one smart cookie

It means you need to contact me right away!!

Yep....right away, today, this moment. do not wait/procrastinate or delay.

Why??? Because you are one smart cookie.

Oh....but you already knew that.

Below are summary of Odenton Market Report May 2011:

• Sold dollar value decreased in May'11 compare to May'10 from $9.95M to $9.53M (- %4.28)
• Average Sold price decreased in May'11 compare to May'10 from $284k to $272k (- %4.28)
• Total unit Sold didn't change in May'11 compare to May'10 from 35 to 35 (- %0.00)
• Average DOM(Day on Market) increased in May'11 compare to May'10 from 62 to 112 (+ %80.65)
• Average Sold To List Price ratio decreased in May'11 compare to May'10 from %94.5 to %92.6 (- %2.02)
• Total active Listing decreased in May'11 compare to May'10 from 189 to 185 (- %2.12)

%27 of unit sold in less than 30 days

%45 of unit sold in less than 60 days

%68 of unit sold in less than 90 days

This weekend, There are 5 Open House scheduled in Odenton,MD.

If you are attending any of these Open House without your agent, make sure to have your agent's business card and give it to the agent at the property.

Remember, The agent is at seller's property and representing the seller, not you or any potential buyers.

The agent at the property is not allowed to solicit your business for any other property while you are at the Open House.

If you don't have an agent representing you as a buyer and interested in any property in Odenton or anywhere in MD, give me a call at (410)562-8616.

Click here to see the list of scheduled Open House this weekend.