Bob Myers, Mongtomery County MD Real Estate

For January 2008 there were 71 condo/coops for sale and 207 residential properties for sale in zip code 20878, including properties in the Gaithersburg neighborhood of Kentlands, Lakelands and Quince Orchard Park neighborhoods. Note: this zip code also includes properties in North Potomac and Darnestown.

There were 3 condo/coops sold in January and 30 residential properties. The total dollar volume sold has gone down by almost 7% compared to January of last year, with the average sold price up by 12.8%. The average number of days on market is 109 - up from 107 at this time last year.

Across Gaithersburg, there is a large proportion of ‘short sales' - where the owner is selling for less than they owe on the property. Out of 932 properties for sale or under contract in all Gaithersburg zip codes as of February 11, 96 are short sales, or 10%. In Zip 20878, there were 23 short sales either under contract or for sale out of 325 total homes.

Click here to see more detail on Gaithersburg and North Potomac MD home sales in various neighborhoods on my website. If you don't see the neighborhood you are interested in, just give me a call at 301-910-9910.

For January 2008 there were 66 condo/coops for sale and 157 residential properties for sale in zip code 20877, including properties in the Deer Park, Emory Grove, Hidden Creek and Saybrooke neighborhoods.

There were 4 condo/coops sold in January and 8 residential homes. The total dollar volume sold has gone down by almost 34% compared to January of last year, with the average sold price up by 5%. The average number of days on market is 98 - down from 130 at this time last year.

Across Gaithersburg, there is a large proportion of ‘short sales' - where the owner is selling for less than they owe on the property, with bank approval. Out of 932 properties for sale or under contract in all Gaithersburg zip codes as of February 11, 96 are short sales, or 10%. In Zip 20877, there were 32 short sales either under contract or for sale, out of 240 properties.

Click here to see more detail on home sales in Gaithersburg MD neighborhoods on my website. If you don't see the neighborhood you are interested in, just give me a call at 301-910-9910.

As of 1/31/2008 there were 41 condo/coop listings and 151 townhomes and single family homes for sale in the Germantown zip code of 20876, which includes the Brandermill, Fox Chapel, Middlebrook and Seneca Park communities. There were only 4 condo/coops that sold and 9 townhomes or single families. Compared to last year, total dollar volume in sales has decreased by 50%, but the average sold price has gone down just 4%. There has been an increase in the number of days a home is on the market before it is sold - from 96 in January 2007 to 147 in January 2008.

Across Germantown, there is a large proportion of short sales - where the home is being sold for less than what the owner owes on the property. Out of 687 properties for sale or under contract in all Germantown zip codes as of February 11, 97 are short sales, a whopping 14%. In Zip 20876, there were 35 short sales either under contract or for sale.

Click here to see more detail on home sales in Germantown MD neighborhoods on my website. If you don't see the neighborhood you are interested in, just give me a call at 301-910-9910.

For the month ending 1/31/2008 there were 106 condo/coop active listings and 352 residential properties active in zip code 20874, including properties in the Germantown Town Center, Germantown Estates, Gunners Lake and Waters Edge neighborhoods. (Please note, zip code 20874 also includes parts of Darnestown).

There were 10 condo/coops sold in January and 18 residential homes. The total dollar volume sold has gone down by almost 60% compared to January of last year, with the average sold price down 14%. The average number of days on market is 99 - the same as this time last year.

Across Germantown, there is a large proportion of ‘short sales' - where the owner is selling for less than they owe on the property. Out of 687 properties for sale or under contract in all Germantown zip codes as of February 11, 97 are short sales, a whopping 14%. In Zip 20874, there were 64 short sales either under contract or for sale.

Click here to see more detail on home sales in Germantown MD neighborhoods on my website. If you don't see the neighborhood you are interested in, just give me a call at 301-910-9910.

There are several mortgage companies that are instituting a system that rates communities by zip codes on whether the area is moving up or down in price and desirability. They rate areas from 1 to 5. One company has a website that limits access to mortgage originators.

In my opinion, this seems similar to an unlawful practice called Redlining that was banned years ago.

Depending on the rating, mortgage companies will require larger down payments to qualify for home mortgages. Neighborhoods have a more difficult time reversing the cycle when mortgages become more restrictive.

This practice should not be allowed. Click here for more information about home prices in Montgomery County MD neighborhoods.