George Belleville

Here is the updated list of Foreclosed Properties for:

Baltimore City North of Rt 40

Baltimore City South of Rt. 40

Anne Arundel County

Baltimore County

Carroll County

Frederick County

Howard County

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If you would like any of this information e-mailed directly to you so that you can use the favorites tabs, etc., email foreclosures@headforhome.net and let us know which Counties you are interested in.

This is kinda urgent, so take a minute to think bout it...

* In order to obtain the First-Time Homebuyer Credit, you must settle by November 30th, 2009
* It can take 6 weeks or more to hear back from a bank, if they approve your short-sale purchase
* If you wrote the offer today, you would be hearing back on October 15th (Hopefully!) What if the bank says NO?

If you conservatively figure that it takes 30 days to settle, you would have two, MAYBE three weeks to find and agree to a contract on a house. Given the number of buyers in the market now, the fact that almost all first-timers are FHA borrowers, and the other inspections, etc. that must be done, there is going to be quite a crunch as the deadline approaches. Do you really want to wait 6 weeks to hear from the bank considering all of that?

Of course, there is talk about extending the first time buyer credit, but it is not guaranteed. And if you are a gambler, you might win. If you don't buy, and the credit ends, you are out $8k. If you don't buy and the credit is extended, you may win. Why? Because a good deal (OK most) of the demand in the market right now is being generated by the first timers...... extending the credit will diffuse that demand, and lower demand = lower prices.

Definitely something to think about!

As you can imagine, I spend a great deal of my working time speaking to people about their real estate needs. Given the current state of the market, the conversation is consistently focused on money, and more specifically, on rates, fees, and dollars.

But it is important to step back sometimes, and think about why someone is contemplating a real estate purchase or sale to begin with. No one ever says, "I have X dollars to spend, and I have decided to spend them on a house." No one ever says, "Now that rates are at X, I have decided to purchase a house." What they say is, "I want to move to a better school district," or, "I want to move closer to my grandchildren," or, "We have outgrown this house."

It is critically important that you work with an experienced agent, who is able to help you clarify your goal, keep you focused on it and then achieve it. That's why it is never about the money. It is very easy to become focused on fees, expenses, deadlines, closing costs, inspection repairs, and thereby lose sight of your goal. All those things are just the means to an end. It may be a great time to buy if you are a first-time home buyer, because of the $8,000 tax credit. But it might not be. It might be a great time to refinance or move up at 4.75%, but it might not be.

It's not just about the money! Please keep that in mind when you think about your next real estate move. Do you trust your agent enough to share your hopes and dreams, and make them part of the process?

For January 2009, Howard County saw the number of homes sold decrease 9.16% from 131 to 119, with a 14.41% decrease in median price, from $359,040 to $307,300. The Average Days on Market increased 13.45% from 119 to 135.

The Ellicott City area saw the following for January 2009:

Ellicott City West-21042
A 41.18% decrease in the number of homes sold (17 to 10), with a 21.42% decrease in median price from $600,001 to $471,500, and a 42.11% decrease in the Average Days on Market from 152 to 88.

Ellicott City East-21043
A 20% decrease in the number of homes sold (from 20 to 16), with a 2.51 % increase in median price from $336,500 to $344,958, and Average Days on Market increased 26.80% from 97 to 123.

For January 2009 the Elkridge area saw a 50% increase in the number of homes sold (from 10 to 15), with a 0.79% increase in median price from $317,500 to $320,000 and Average Days on Market increased 82.50% from 80 to 146.

The Columbia area saw the following results for January 2009 compared to the same period last year:

West Columbia- 21044:
This area saw an 11.76% decrease in the number of homes sold (from 17 to 15), with a 5.26% increase in median price from $323,000 to $340,000, and Average Days on Market remained the same at 126.

East Columbia- 21045:
The Eastern portion of Columbia saw a 30.77% decrease in the number of homes sold (from 26 to 18), with a 22.99% decrease in median price from $296,711 to $228,500, and Average Days on Market decreased 21.67% from 120 to 146.

South Columbia- 21046:
This area experienced an 18.18% decrease in the number of homes sold (from 11 to 9), with a 19.17% decrease in median price from $399,900 to $323,232, and Average Days on Market increased 36.75% from 117 to 160.

During January of 2009 the Woodstock area saw the number of homes sold increase 100% from 2007 (3 to 6), with a 26.73% decrease in the median price from $524,900 to $384,583, and Average Days on Market decreased 0.85% from 235 to 233.

While there has been some variation among the zip codes, the bottom line is that home sales have slowed significantly. That is to say the number of homes sold, not necesarily the price. As I frequently tell people, to determine what prices are doing you really have to look to the neighborhood, or even street level for any precise analysis. With the various housing types and price ranges, broad averages can be instructive, but there really are apples and oranges all in the same "price average" basket.

For March 2008, Howard County saw the number of homes sold decrease 44% from 314 to 175, with a 8.24% decrease in average price, from $444,801 to $408,152. The Average Days on Market increased 28% from 106 to 136.

Ellicott City West-21042
An 57% decrease in the number of homes sold (40 to 17), with a 4.73% decrease in average price from $565,055 to $538,311, and a 13% increase in the Average Days on Market from 122 to 138.

Ellicott City East-21043
A 13% decrease in the number of homes sold (from 39 to 34), with a 5.9% increase in average price from $453,860 to $480,746, and Average Days on Market decreased from 125 to 113.

Woodstock 21163
The Woodstock area saw the number of homes sold decrease from 9 to 4, with a .21% increase in average price from $521,000 to $522,084, and Average Days on Market decreased from 166 to 89. A large portion of the sales in this area are generated by the Waverly Woods development, which is nearing completion. The last phase of the development includes a large of group of over-55 condominiums, which are significantly less expensive than the prior communities which were sold, and a final section of NV Homes Townhomes starting just under $500k.

Elkridge- 21075
The Elkridge area saw a 33% decrease in the number of homes sold (from 30 to 20), with an 18.54% decrease in average price from $367,833 to $299,640, and Average Days on Market increased 79% from 78 to 140.

West Columbia- 21044:
This area saw a 43% decrease in the number of homes sold (53-30), with a 20% decrease in average price from $397,017 to $317,577, and Average Days on Market increased 37% from 80 to 110.

East Columbia- 21045:
The Eastern portion of Columbia saw a 40% decrease in the number of homes sold (from 47 to 28), with a 11.6% increase in average price from $315,000 to $319,500, and Average Days on Market increased 79% from 78 to 140.

South Columbia- 21046:
This area experienced a 57% decrease in the number of homes sold from 19 to 8, with a 4.7% decrease in average price from $373,037 to $355,238, and Average Days on Market increased 140% from 69 to 166.

Howard County is still located between Baltimore and Washington, still has one of the highest per-capita incomes in the Country, and still has an excellent standard of services from the County Government. Those, combined with the development trends in the Eastern County, in Laurel, Savage and Elkridge, as well as the impending arrival of the BRAC personnel, will continue to cause Howard County to experience level or appreciating home prices in the long term.