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OLNEY, MARYLAND 20832 - REAL ESTATE TREND INDICATOR
If you are thinking about buying or selling a home in zip code 20832, you should take a close look at the following report that compares the statistics for March with the same month last year. There were 37 new listings in the area and 19 properties went to pending new contracts. During the month, there were 95 active listings of homes for sale in Olney. There were 18 settlements as compared to 10 homes sold last year. The median sales price was $349,500. The average sales price was 91.29% of the average list price. The average days on the market was 91 as compared to 119 days last year. What does this mean? It is still a soft market which favors buyers. Buyers have the largest selection and the lowest prices that have been available for several years. First time buyers have the benefit of the currently available $8,000 tax credit for settlements that take place before the end of November, 2009. Many buyers are using FHA financing to take advantage of the low 3.5% minimum cash requirement. The FHA Streamlined 203(k) program allows borrowers to include the cost of home improvements up to $35,000 in the mortgage amount. The Montgomery County Housing Opportunities Commission is providing 100% financing for qualified first time buyers.
Roy Kelley, Associate Broker, RE/MAX Realty Group
Home Search Website: www.roykelley.com
Email: roykelley@mris.com; Client Assistance: 301-670-8996
ZIP Code: 20832 Olney, MD
From: 03/01/2009 to 03/31/2009 Statistics generated on: 04/08/2009
| 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 | 7 |
| $100,000 - 149,999 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 31-60 Days | 2 |
| $150,000 - 199,999 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 0 | 61 - 90 Days | 0 |
| $200,000 - 249,999 | 0 | 1 | 0 | 1 | 0 | 5 | 1 | 0 | 91-120 Days | 5 |
| $250,000 - 299,999 | 0 | 6 | 0 | 0 | 0 | 7 | 6 | 0 | Over 120 Days | 4 |
| $300,000 - 349,999 | 0 | 1 | 0 | 0 | 0 | 10 | 0 | 0 | Total | 18 |
| $350,000 - 399,999 | 0 | 2 | 1 | 0 | 0 | 8 | 0 | 0 | ||
| $400,000 - 449,999 | 0 | 1 | 1 | 0 | 0 | 9 | 0 | 0 | Type of Financing of Units Sold (No. of Units) |
|
| $450,000 - 499,999 | 0 | 1 | 1 | 0 | 0 | 12 | 0 | 0 | ||
| $500,000 - 599,999 | 0 | 0 | 2 | 0 | 0 | 15 | 0 | 0 | Conventional | 9 |
| $600,000 - 699,999 | 0 | 0 | 0 | 0 | 0 | 4 | 0 | 0 | FHA | 5 |
| $700,000 - 799,999 | 0 | 0 | 0 | 0 | 0 | 2 | 1 | 0 | VA | 1 |
| $800,000 - 899,999 | 0 | 0 | 0 | 0 | 0 | 5 | 0 | 0 | Assumption | 2 |
| $900,000 - 999,999 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | Cash | 1 |
| $1,000,000 - 2,499,999 | 0 | 0 | 0 | 0 | 0 | 4 | 0 | 0 | Owner Finance | 0 |
| $2,500,000 - 4,999,999 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | All Other | 0 |
| $5,000,000 & Over | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unreported | 0 |
| Totals | 0 | 12 | 5 | 1 | 0 | 83 | 12 | 0 | Total | 18 |
| Grand Totals | 18 | 95 |
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Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2009 - Information deemed reliable, but is not guaranteed.
Please contact us with your questions on the residential real estate market.
Your Real Estate Professional,
Roy Kelley
Roy Kelley & Associates
Associate Broker, RE/MAX Realty Group
6 Montgomery Village Avenue, Suite 200 Gaithersburg, MD 20879 USA
Direct: 301-921-4569 Client Assistance: 301-670-8996
Email: roykelley@mris.com Main Office: 301-258-7757 x 569
Home Search Website: www.roykelley.com Blog: http://activerain.com/blogs/roykelley
Follow me on Twitter: http://twitter.com/roykelley
FIRST TIME HOME BUYER $8,000 TAX CREDIT: www.federalhousingtaxcredit.com
Newly increased FHA loan limits for Montgomery County and Frederick County: $729,750. New limit for FHA reverse mortgages: $625,000.
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Make Someone Happy !
I was sitting with a new agent the other day. I was trying to get a handle on why they had chosen this profession. If I can determine what motivated them to join the ranks of Realtors, I can then delve a little deeper into what might be that one factor that will separate them from those that have tried and failed and those that are still active today.
The young lad turned the question around and asked me..."Why are you a Realtor? You have had great success in other industries. Why are you still practicing this profession?"
I gave it a moments thought. I have always known the why. I smiled and said this profession offers me an abundance of opportunities to make someone happy. Everyday, I have the chance to make a difference in one person's life. Why, I often have the chance to make a difference in many lives with just one transaction. As a Realtor.........I can make someone happy!
Now I understand that there are some agents that are truly money motivated. When they think of a transaction, they immediately begin calculating how much they will earn. They will pause between different stages of a sale and gaze at the picture of the new car or new boat or new golf clubs that will soon be in their reach. They have vacation flyer's that offer tantalizing pictures of exotic places. They pause and dream.

I will be the first to admit that I have failed every test administered to determine if I were money motivated. When I was younger and moving through different career paths, more than one human resources staffer scratched their head upon reviewing the psycho-evaluation test. Money never did it for me. That does not mean that those that are money motivated are any better or worse than me. Nope, you see I have grown wiser in old age and I understand that money can provide some people with the means to be happy. If it is money you seek, make transactions and you will be happy. The collateral benefit is that those involved in the transaction will also be happy.
Some agents love the recognition and awards that come with success. I am never surprised to see the "top 1% of Realtors Nationwide" on business cards. I know that many of the best agents in my office have walls that are filled beyond negative space with plaques and awards from days gone by. I have seen the joy that recognition brings to their face. They are proud of their accomplishments.

I don't think it is unusual to desire recognition of a job well done. Agents are usually beaming a wonderful smile when that step up to receive an award. They are happy. If awards and recognition are your goal, make transactions and you will be happy. The collateral benefit is that the transactions necessary to complete to achieve higher levels will have created lots of happy people.
Maybe it is time that we set aside the dollar figures and the awards and stepped back from the recognition and admitted the base need that is being fulfilled every time we accomplish our goal. We make someone happy. The happiness certainly can begin with ourselves. The happiness may be measured in dollars and cents. The happiness may carry an award or special recognition. The happiness is our goal.

This is not the goal. This is a sign that the goal has been accomplished!
I am both proud and privileged to be a Realtor. I firmly believe that those of us that have chosen this profession make a tremendous difference in our communities one deal at a time. We may not be as haughty as Attorneys or Doctors. We may not have to pass multi-hour exams to become licensed. We work and live in the communities we serve. Realtors are active participants in the ever changing landscape of our society. We are called on to be counselor, confessor, adviser and friend. We are required to possess general knowledge and the integrity to direct our clients to the proper professionals. We are Realtors and we should be proud.

This may be the symbol on our lapel.

This is the symbol of a career well spent.
It is never to late to understand that your personal success is within reach every day. You need only get up, get out the door and be committed to the goal that today, you will....
Make Someone Happy !
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Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for February 2009. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
The absorption rates for Feb 09 are lower than Feb 08. Freet not, one of the lead indicators is under contract properties. There were 23 properties under contract at the end of Feb 08. There were 28 under contract at the end of this Feb.
Absorption Rates:
February 2009 6.2% absorption rate
February 2008 7.6% absorption rate
February 2007 18.1% absorption rate

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OLNEY, MARYLAND 20832 - REAL ESTATE TREND INDICATOR
If you are thinking about buying or selling a home in zip code 20832, you should take a close look at the following report that compares the statistics for February with the same month last year. There were 25 new listings in the area and 24 properties went to pending new contracts. There were 8 settlements as compared to 12 homes sold last year. There were 83 homes on the market. The median sales price was $380,500. The average sales price was 92.21% if the average list price. The average days on the market was 65 as compared to 73 last year. What does this mean? It is still a soft market which favors buyers. Buyers have the largest selection and the lowest prices that have been available for several years. First time buyers have the benefit of the currently available $8,000 tax credit for settlements that take place before the end of November, 2009.
Roy Kelley, Associate Broker, RE/MAX Realty Group
Home Search Website: www.roykelley.com
Email: roykelley@mris.com; Client Assistance: 301-670-8996
ZIP Code: 20832 Olney, MD
From: 02/01/2009 to 02/28/2009 Statistics generated on: 03/06/2009
| 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 | 3 |
| $100,000 - 149,999 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 31-60 Days | 1 |
| $150,000 - 199,999 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 61 - 90 Days | 3 |
| $200,000 - 249,999 | 0 | 0 | 0 | 1 | 0 | 3 | 1 | 0 | 91-120 Days | 0 |
| $250,000 - 299,999 | 0 | 1 | 0 | 0 | 0 | 8 | 5 | 0 | Over 120 Days | 1 |
| $300,000 - 349,999 | 0 | 1 | 0 | 0 | 0 | 7 | 0 | 0 | Total | 8 |
| $350,000 - 399,999 | 0 | 1 | 0 | 0 | 0 | 10 | 0 | 0 | ||
| $400,000 - 449,999 | 0 | 1 | 0 | 0 | 0 | 9 | 0 | 0 | Type of Financing of Units Sold (No. of Units) |
|
| $450,000 - 499,999 | 0 | 0 | 1 | 0 | 0 | 10 | 0 | 0 | ||
| $500,000 - 599,999 | 0 | 1 | 1 | 0 | 0 | 12 | 0 | 0 | Conventional | 5 |
| $600,000 - 699,999 | 0 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | FHA | 3 |
| $700,000 - 799,999 | 0 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | VA | 0 |
| $800,000 - 899,999 | 0 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | Assumption | 0 |
| $900,000 - 999,999 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | Cash | 0 |
| $1,000,000 - 2,499,999 | 0 | 0 | 0 | 0 | 0 | 4 | 0 | 0 | Owner Finance | 0 |
| $2,500,000 - 4,999,999 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | All Other | 0 |
| $5,000,000 & Over | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unreported | 0 |
| Totals | 0 | 5 | 2 | 1 | 0 | 75 | 8 | 0 | Total | 8 |
| Grand Totals | 8 | 83 |
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Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2009 - Information deemed reliable, but is not guaranteed.
Please contact us with your questions on the residential real estate market.
Your Real Estate Professional,
Roy Kelley
Direct: 301-921-4569
Client Assistance: 301-670-8996 Email: roykelley@mris.com
Main Office: 301-258-7757 x 569
Home Search Website: www.roykelley.com Blog: http://activerain.com/blogs/roykelley Follow me on Twitter: http://twitter.com/roykelley
Comprehensive solutions for residential real estate needs.
MONTGOMERY COUNTY MD LENDER OWNED FORECLOSURES Rev. 3/09/09 http://tinyurl.com/bblak9
FREDERICK COUNTY MD LENDER OWNED FORECLOSURES Rev. 3/12/09 http://tinyurl.com/b6xkkp FIRST
TIME HOME BUYER $8,000 TAX CREDIT: www.federalhousingtaxcredit.com
Newly increased FHA loan limits for Montgomery County and Frederick County: $729,750. New limit for FHA reverse mortgages: $625,000.
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I was diagnosed with MS in 2006. It all started because I kept getting dizzy when I would exercise. The doctors ran every test in the book and came back with a possible diagnosis of Multiple Sclerosis. To say I was floored is putting it lightly. That had never even crossed my mind. Since then we have done several more tests and the doctors are in pretty good agreement that this is what I have.
I am one of the lucky ones. The biggest impacts on my life are a chronic fatigue (which can be quite debilitating) and occasional vertigo and dizziness. I am grateful for how I feel so far. However, I do live with the notion that my level of functioning can change at any time. There are many mornings when I wake up and think to myself before I get out of bed "Is this the day that my legs won't work?"
I registered for the MS Walk in Bowie, MD on April 26 because I want to raise awareness about the many people living with this unpredictable disorder. We are team Road Warriors and I would like to invite any local folk to join the team and walk with us.
The other reason for walking is to raise money to go towards research, treatment, and helping people living with MS. Please donate if you can and please feel free to send this link to anyone you think might be interested in walking with us and/or making a donation.
Thanks for your support and see you in April
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