Stevensville, MD

Listen up everyone,

January 24th at the Elks Lodge on Kent Island will be holding a bridal show and auction from 12-4pm. Designer dresses will be arriving from NYC. The designers will be reducing the price of the dresses 75% to begin the bidding process. You can't beat that! There will be many vendors there offering their services as well including myself. So, if you know of anyone getting married or may be looking to buy or sell real estate, come and visit us. The entry fee is $10 and $8 for bride with a paying guest. Door prizes will be given away as well. I hope to see you there. Also, if you know you will be coming, and want to have a list of homes waiting for you to pick up, just give me a call with your specifics and I will have them ready. Feel free to call me as well...443-786-4200

Termites cause an estimated $5 billion in property damage a year in the United States, according to the National Pest Management Foundation. Yet, many homeowners know very little about the danger that termites pose to their property. "You don't usually notice them until the damage is extensive. Termites may take up residence in a home for years-even decades- eating away at the structure from the inside out until the damage shows itself- hence the unsettling nickname "silent destroyers", says entomologist Ron Harrison, technical director for Orkin, Inc.

So how can you protect your investment from these crawly insects? Harrison offers these preventative measures:

* Keep moisture out. Use downspouts and gutters to divert water away from your home's foundation

* Store mulch, firewood, and wood chips away from home.

* Make sure shrubs, vines, and other plants aren't planted too close to the home and aren't covering vents

* Ventilate crawl spaces to reduce humidity

* Eliminate gaps and cracks in attic vents, window joints, and roof eaves.

* Remove old tree stumps and roots near home.

However, a home owner's best defense is to schedule regular inspections with a termite specialist.

The U.S. Department of Housing and Urban Development's web site provides information by state about areas most prone to termite damage. Go to www.hud.gov and search for "Termite Infestation Probability Zones".

Now that we have the first quarter statistics for the Stevensville, MD market, let's look at some of the revealing and not so revealing numbers.

A total of 8 homes have sold in the Stevensville area. It has taken anywhere between 4 - 6 months to sell. The average price is a number that can be greatly skewed by the sale of a $1 million dollar home, so we'll leave that statistic alone. The Average Sale Price as a percentage of Average List Price over the 3 month period ranges from 85% - 90%. It's called a contract sales price. It does NOT take into account factors such as closing costs or closing help (if any). In other words, sellers should expect to get between 85% - 90% of their asking price. The most compelling statistic in the Stevensville, MD market is the number of homes that have come on the market in the $250,000 - $299,999 range. At the beginning of the year, there were 136 active listings in Stevensville. At the end of March, there were 160 active listings. That's an increase of 24 active listings for the year. Consequently, there were 15 active listings between $250,000 and $299,999. At the end of March, there were 23. That's an increase of 8 active listings in that price range. Doing the math, 33.33% of the increased active listings that have gone on the market in Stevensville, MD are priced between $250,000 - $299,999.

If you're a first time home buyer you should take a serious look at the numbers here. The interest rates for loans are outstanding, the first time buyers credit is out there, and there has been an influx of active listings in a great price range.

Source: Metropolitan Regional Information Systems, Inc (MRIS)

Never forget that freedom is not free. There are many men and women who are sacrificing for us at this very moment. Some have made the ultimate sacrifice, while others are recovering from injuries sustained fighting overseas. Here's one way you can help these heroes: http://www.anysoldier.com. Thank you to all the men and women at Fort Meade, The Naval Academy, Andrews Air Force Base, and everywhere around the globe for your patriotism and sacrifice.

Rich is a licensed assistant to Michelle Bowman of Keller Williams Select Realtors in Severna Park, Maryland. To learn more about Michelle Bowman, including contact information, please visit her website at www.michellebowman.com.

Market Statistics for Stevensville, MD in March 2009:

Number of Homes Sold - 2

Average Sold Price - $312,345

Median Sold Price - $312,345

Average Days on the Market - 164

Average Sale Price as a percentage of Average List Price - 88.63%.

Source: Metropolitan Regional Information Systems, Inc (MRIS)

I'm not a big fan of Average and Median Sold Price Numbers. Many variables can skew the data. A large sale ($1-$2 Million Dollars) can raise the average sold price but not be characteristic of what's going on throughout the entire market. In March, 2 homes sold. One was in the $250,000 to $299,999 range and one was $350,000 to $399,999.

We know that the market has significantly slowed down but it bears repeating with the help of numbers. As you can see, it took an average of 164 days to sell these 2 homes in Stevensville, MD. Both homes took over 120 days to sell. The main theme I want to say here is that homes are still selling! No matter how "bad" the media or others say the housing market is houses will sell. It may take close to 160 days in Stevensville, MD to sell them, but houses are selling.

So what's the 88.63% mean? Well, it means that a house, in March 2009 in Stevensville, MD, sold for 88.63% of the original asking price. In other words, if a house is listed for $100,000 it sold for $88,630 in March. It's called a contract sales price. It does NOT take into account factors such as closing costs or closing help (if any).

All this adds up to the simple fact that we all know....it's a buyer's market. If you're a seller, you need to be prepared to understand that you may not receive the full price you're looking for and you may need to entice buyers with incentives. If you're a buyer, you're looking at great deals with great interest rates.

One last thing to mention - we get it. Michelle and I understand that there are sellers who have put a lot of blood, sweat, and tears into their home and we want to help them, realistically, get all they can for the price of their home. If you're a buyer, we understand that you're sitting and waiting for the bottom of the market to hit before you buy. Question is, when will you know when the market bottoms out? Answer is, when the market makes a comeback and it's too late for great deals!

Never forget that freedom is not free. There are many men and women who are sacrificing for us at this very moment. Some have made the ultimate sacrifice, while others are recovering from injuries sustained fighting overseas. Here's one way you can help these heroes: http://www.anysoldier.com. Thank you to all the men and women at Fort Meade, The Naval Academy, Andrews Air Force Base, and everywhere around the globe for your patriotism and sacrifice.

Rich is a licensed assistant to Michelle Bowman of Keller Williams Select Realtors in Severna Park, Maryland. To learn more about Michelle Bowman, including contact information, please visit her website at www.michellebowman.com.