Bob Myers, Mongtomery County MD Real Estate

In my previous blog post I talked about the benefits of using a collaborative divorce team. I have received this training and can attest to the benefits. I recently listed a home in Rockville's Rockshire neighborhood whose owners were divorcing and participating in the collaborative divorce team process.

This sale benefited from this process in several ways:

•- obviously the attorney fees are lower overall in this process,

•- the collaborative model emphasizes communication and full disclosure, so the spouses were totally aware of all aspects of the situation and cooperated fully in getting the home ready for sale,

•- emotions were managed as part of the team process with mental health professionals facilitating the teamwork and creating a plan,

•- Realtors and financial professionals serve as neutral experts,

•- there is a much higher level of long term satisfaction with the agreed upon settlement.

My role as a neutral expert was to make this a win-win for the divorcing spouses. In other divorce cases I have run into roadblocks with the spouses not sharing information or unable to agree on a listing price or terms. The collaborative process works to support the most positive outcome possible in the difficult situation of divorce.

Success is measured by how well we have achieved the clients' mutual goals, not how much one spouse gets vs. the other.

I have seen this process work well and recommend it to all who are in the unfortunate position of getting a divorce. You can see more at http://www.collaborativepractice.com or please call Geoff Platnick of Shulman Rogers at 301-231-0927 or visit his website at http://www.shulmanrogers.com/attorneys-178.html.

Bob Myers, Graduate, Realtor Institute, is a member of the Re/Max Hall of Fame and has served buyers and sellers for 24 years in Montgomery County and Prince Georges County MD and Northern Virginia. Visit Bob's websites for a virtual tours of properties and for more information on Montgomery County MD Real Estate

Use my other website to search the MLS for MD Homes for Sale in Gaithersburg, Germantown, Rockville, Clarksburg, Potomac and other great Maryland and Virginia communities. Bob is affiliated with Re/Max Realty Services, 15020 Shady Grove Road, Suite 400, Rockville, MD, 20850. Office phone is 240-403-0400 and you can always reach Bob on his cell phone at 301-910-9910.

I have begun serving clients as part of a collaborative divorce team of legal, financial, mental health and real estate practitioners. Collaborative practice focuses on negotiation, de-escalating conflict, improving communication and assisting clients in making decisions outside of the usual divorce litigation process.

This means that each spouse has their own representation, but that they are client-centered rather than litigation centered. The process emphasizes sharing information and mutually agreeing upon solutions that benefit the entire family. It is more than a friendly negotiation, it is a defined process that attorneys and other collaborative professionals adhere to and become trained in.

This process is very good at reducing the negative emotional and financial outcomes of divorce. Since your home is usually your largest asset in a marriage, having a process to agree on all the financial decisions, with a financial planner, Realtor and mortgage professional plus mental health practitioners all trained in the collaborative process results in a smoother transaction.

There is special training that team members attend to understand the process and help the spouses manage all the legal aspects of ending their marriage.

If the spouses do not adhere to the collaborative agreement, then the divorce ends up in court as a regular divorce proceeding. Since most divorces end up with a negotiated settlement anyway, often right before they go to court, this process is preferable in so many ways.

If you are interested in learning more about this process, feel free to visit the http://www.collaborativepractice.com website, or call Geoff Platnick at the law firm of Shulman Rogers at 301-237-0927 or visit his website at http://www.shulmanrogers.com/attorneys-178.html

In my next blog, I will talk about the role of the Realtor in a collaborative divorce.

Bob Myers, Graduate, Realtor Institute, is a member of the Re/Max Hall of Fame and has served buyers and sellers for 24 years in Montgomery County and Prince Georges County MD and Northern Virginia. Visit Bob's websites for a virtual tours of properties and for more information on Montgomery County MD Real Estate at http://www.bobmyers4homes.com To search the MLS in Gaithersburg, Germantown, Rockville, Clarksburg, Potomac and other great Maryland and Virginia communities visit http://www.searchmontgomery.com . Bob is affiliated with Re/Max Realty Services, 15020 Shady Grove Road, Suite 400, Rockville, MD, 20850. Office phone is 240-403-0400 and you can always reach Bob on his cell phone at 301-910-9910.

According to Forbes magazine and relocation firm ZoomProspector, Rockville MD is one of the top small towns to live and work in the U.S. Rockville ranked number eight, and other local towns in the top ten were Fairfax, VA and master planned community Columbia MD. The criteria were to have a population of less than 100,000 people, policies favorable to business and a well educated population with high salary levels. The towns were also evaluated for things like restaurants and cultural attractions. Four other cities were in California and two were in Florida. Rounding out the top 25 were North Potomac at lucky 13, Germantown at 17, Silver Spring at 20 and Potomac at 23.

Those of us who live here already knew what great towns we live in with excellent schools and amenities. If you would like more information, visit my Montgomery County MD Real Estate website. If you are thinking about relocating to this area, I would be happy to send you a relocation packet giving you all the details about living in Montgomery County - email me at bobmyers4homes@gmail.com or call me at 301-910-9910.

The real estate market in Montgomery County continues to be dominated in many places by short sales and foreclosures. Downcounty (Bethesda, Potomac, parts of Kensington, Chevy Chase) has fared better than upcounty areas.

These properties are pushing prices lower in the hard hit areas. As of March 21, there are over 850 properties that are bank owned (REO). I would characterize the present market as a price war and a beauty contest. My homebuyers are uncertain about the future direction of home prices and the overall economy, so they are very cautious right now.

On the bright side, mortgage rates are under 5% and first time homebuyer tax credits make purchasing a home now very economical. Aggressively priced homes are selling and buyers are able to find good deals with closing costs paid by the sellers.

The numbers tell the story - there were 5,166 active listings in Montgomery County in February, and 448 homes sold. During this same time period in 2008, there were 5,722 homes for sale and 484 homes sold. More than 300 fewer homes came on the market this February, compared to February 2008, easing the oversupply somewhat. The homes that sold had an average sale price of $421,706, which is 25% less than last year!

REO (real estate owned) properties (foreclosures) that sold numbered 23, including 4 in Gaithersburg, 4 in Germantown, 3 in Montgomery Village and 5 in Silver Spring. There were also 12 short sales that sold in February.

As we head into spring, we will be able to see how healthy the local Montgomery County MD real estate market really is.

Compared to the same time last year, the number of Gaithersburg MD home sales in February 2009 has held steady overall with 61 properties sold (compared to 59 sold in February 2008). The overall trend is that supply is down, there are fewer new listings coming on the market, REOs and foreclosures are up, and buyers are getting bargains.

There was quite a drop off in activity in zip code 20878 - decreasing from 34 to 25 properties sold, due partly to less inventory. There was an increase in zip code 20877 neighborhoods from 11 to 24 properties sold, where inventory was down only slightly compared to last year. Zip code 20879 saw 12 properties sell, almost the same as last year, despite an almost 20% drop in inventory. Most of these homes sold in 3 to 4 months on average. The overall supply of Gaithersburg homes on the market is down 13% compared to last year.

As you would expect, the average sold price is way down: 26.5% in 20877, 33% in 20878, and almost 28% in 20879.

The average price is

20879 is $249,125 (it was $345,170 in ‘08)

20878 is $344,036 (it was $517,106 in '08)

20877 is $229,109 (it was $352,982 in '08)

Of course, the real story becomes obvious when you go beyond the statistics - it is about the number of short sales and foreclosures across Montgomery County MD.

In zip code 20878, which includes North Potomac, some Darnestown neighborhoods, Kentlands, Lakelands and Quince Orchard Park, there were 6 short sales and 3 REO (bank owned) properties out of the 25 homes that sold - 36%. As of March 13, there were 31 bank owned properties in 20878, and 21 homes slated for auction.

In zip code 20877, which includes Audubon Square, Deer Park, Hidden Creek, Saybrooke and Villa Ridge, there were 2 short sales and 5 REO properties out of 24 - 29%. Properties to be auctioned number 22 in this zip code, and bank owned was a whopping 74 homes (as of March 13).

And, in zip code 20879, which includes Flower Hill, Goshen, Montgomery Meadows, and Woodland Hills, there were 3 short sales and 3 REOs sold out of 12 - a whopping 50%. Twenty one properties are scheduled for auction plus 51 homes that are REOs on March 13, 2009.

Visit my website for a complete rundown of the Gaithersburg MD Real Estate market. I would be happy to provide you with a complimentary, no-obligation market analysis of your home.