Good news for real estate markets across the country as the National Association of REALTORS (NAR) reported a 3.1 percent increase in the rate of existing home sales through the month of July. NAR's revised home sales forecast now stands at 5.0 million units for 2008, up from the 4.84 million units estimated in June.
Provisions in the recently passed housing stimulus package have created additional opportunity for buyers. NAR president Richard F. Gaylord explains, “Buyers who’ve been on the sidelines should take a closer look at what’s available to them now in terms of financing and incentives."
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Overall mortgage interest rates remain at their historic lows, currently hovering in the low-to-mid 6 percent range for a 30 year fixed rate loan. The combination of low interest rates and higher housing inventories makes this one of the best buyer markets in recent history.
Anne Arundel County figures for August 2008 are shown below.
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Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2008 - Information deemed reliable, but is not guaranteed.
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+ Carlyn Lowery, Associate Broker, Keller Williams Select Realtors
+ Direct 410/268.0160 Central Office 410/972.4000 x4032
+ Free no-pressure search at http://www.AnnapolisMultipleListing.com
+ Local Real Estate News at http://www.AnnapolisRealEstateToday.com
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The end of the fiscal year often results in last-minute dashes, and I just learned about a great opportunity through a colleague in the Rotary Club of Annapolis. Commerce Bank is expanding to the Annapolis area, and as part of their commitment to actively supporting our community, they offer grants, sponsorships, and community development and service programs.
According to Annapolis Manager and Assistant Vice President Jen Simon, the bank's funds for this year are not fully allocated, and these programs are not yet well-known locally, so we have a great window of opportunity for funding projects that benefit local residents. As are result of Jen Simon's recent efforts to get the word out, many of our local non-profits are now busy writing grant applications - which are due this week!
More information and an on-line application are available at http://www.commerceonline.com/communityrelations/overview.cfm
Let me know if you'd like more details, as I'll be learning more over the next few days. We're putting together an application for the Rotary Club of Annapolis, and I'd love to come up with a project to support affordable housing, a growing issue in Annapolis and Anne Arundel County, especially as federal backing for 100% financing is vanishing. And it would be a pleasure if this news is of benefit to you, or a non-profit that you support, so let me know!
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+ Carlyn Lowery, Associate Broker, Keller Williams Select Realtors
+ Direct 410/268.0160 Central Office 410/972.4000 x4032
+ Free no-pressure search at http://www.AnnapolisMultipleListing.com
+ Local Real Estate News at http://www.AnnapolisRealEstateToday.com
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This classic rancher at 118 Academy Street in sought-after Murray Hill in downtown Annapolis was recently sold. It was listed on January 5th at $899,000 and closed on July 24th for $775,000. The house featured 4 bedrooms, 2.5 baths, and perhaps most important to the buyer, it was sited on three buildable lots. (Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data)
Within a few days after settlement, demolition began.
And it wasn’t too long before everything was gone, except for a few trees (and the environmentalist in me is very happy that these were saved).
Odds are that we’ll soon have three houses, and that they’ll be on the market for a pretty penny.
This is one real estate investor who is playing to win. I recently heard that eight times the number of people become millionaires in a down market as in an up market. In the face of so much bad news about the economy, it's great to see an entrepreneur in action, acting boldly, creating value. It's a great time to take calculated risks.
Yet I must say, I will miss the old house!
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+ Carlyn Lowery, Associate Broker, Keller Williams Select Realtors
+ Direct 410/268.0160 Central Office 410/972.4000 x4032
+ Free no-pressure search at http://www.AnnapolisMultipleListing.com
+ Local Real Estate News at http://www.AnnapolisRealEstateToday.com
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How's the real estate market? Everyone is asking me these days. Recent headlines in The Capital, our local Annapolis newspaper, include:
Rumor has it that some of the new upscale chain restaurants in Park Place near Murray Hill may be closing. What will happen with Morton's and Fado? Recent Wall Street Journal reports:
Things are looking pretty bleak, one might say. Of course, it all depends on your perspective.
Here are some other facts from our local multiple listing service:
For those who are intentional about building wealth through real estate investing, this market is outstanding. Remember "Buy Low, Sell High"? Now is the time to find motivated sellers and acquire properties at great prices with excellent financing.
We are increasing our services to investors, so if you want to buy more rental property in Maryland, and you want to work with someone who understands your vision, let us know.
We're building a new web site at http://www.IntentionalInvestor.com
Check it out and let us know your thoughts and suggestions.
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+ Carlyn Lowery, Associate Broker, Keller Williams Select Realtors
+ Direct 410/268.0160 Central Office 410/972.4000 x4032
+ Free no-pressure search at http://www.AnnapolisMultipleListing.com
+ Local Real Estate News at http://www.AnnapolisRealEstateToday.com
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For more info on Annapolis Real Estate and Anne Arundel County Maryland Real Estate,
visit my main blog at http://www.AnnapolisDreamHomes.com/blog.asp
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Realtor for Annapolis Real Estate and Anne Arundel County Real Estate * Associate Broker * Serving Banks, Investors, Homeowners, Buyers, Sellers, and Renters * Expert in Waterfront, Equestrian, Invest
Carlyn actively participates in the local Annapolis community, and is a member of the Rotary Club of Annapolis. She has been a corporate sponsor for the Rotary Club's World's Largest Crab Feast for several years now!
Carlyn chose to affiliate with Keller Williams because this rapidly-growing national enterprise provides the best environment, training, and support to enable her to provide top service to her clients. She is an Associate Broker with Keller Williams, has earned lifetime membership in the Distinguished Sales Achievement Club, and is a member of the Women's Council of Realtors and the National Real Estate Investors Association.
If you want to buy or sell real estate, whether it is primarily for your personal use or as an investment, you can count on Carlyn to meet your real estate needs. For a free, no-obligation consultation, call Carlyn at 410/268-0160.
A Note From Carlyn About Her Business Philosophy
Buying, selling or financing a home is one of the most important investments of your life, both financially and emotionally. Having the right knowledge and advice can make a big difference. It can literally make a difference of thousands of dollars in the amount of money you will need up front, as well as, in the money in your pocket over the life of your home ownership! And it can make a tremendous difference in your satisfaction and joy in your home! That's precisely why you don't want to work with real estate sales people who are just interested in getting you out the door as quickly as possible so they can go on to their next sale. You deserve a consultant who will focus on your needs and goals -- Who will listen -- I mean really listen to what you truly want! I am 100% committed to service your every real estate need because unlike many salespeople, I am building a business for the long term, and my business is built from referrals. My business grows only if I provide you with superior service and results, and you are so delighted that you cheerfully tell your family and friends about how I have served you. From the heart, I want you to know that I am 100% committed both professionally and personally to helping you save the most money possible when you buy or sell your real estate -- and having you be pleased and delighted with the results!
If you would like to find out more about how I can help you, please get in touch with me. Also, many valuable links are listed on this web page and web site, so if you are new to Maryland or would like to learn more about the Annapolis and Chesapeake Bay area, feel free to explore this site.
P.S. If you've found the information on this web site or my other services to be useful, please don't keep it a secret! Tell your friends, family members, and business associates!
Carlyn specializes in the Annapolis area and Anne Arundel County, and keeps fully informed on all real estate offerings in the entire central Maryland area. She also is part of several referral networks of real estate experts nationwide, and can recommend an outstanding Realtor in any area. She assists people who are interested in buying or selling their own homes as well as those who invest in rental property.
While Carlyn is especially knowledgable about waterfront, equestrian (Horses and Farms), and investment property, she is delighted to work in all segments of the market, including working with first-time homebuyers, people who are moving up, people who are downsizing, and people who are relocating from other areas to Annapolis and Anne Arundel County.
As a Navy junior and former U.S. Naval officer who has moved over a dozen times, Carlyn has a particular appreciation for the needs of families who are moving and helps them "settle-in" in their new homes. Having spent over ten years building software companies, Carlyn enjoys working with business people, entrepreneurs, and the self-employed. People count on her to use her high-tech expertise and financial knowledge to sell their houses effectively, and to find them the homes they want in the timeframe they desire, and with the least amount of hassle.
Carlyn's primary service area is near Annapolis in Anne Arundel County MD, and includes the following locations:
Doug and Kathleen Engelke
"Carlyn was professional, confident, and honest. We got our asking price and within our timeframe. Carlyn has a very strong approach to her business and it works! She delivered what she promised and was very honest about what we could expect. The whole experience was made easy and painless!"
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