Joe Buffington, GRI, CDPE

Every year I somehow catch the "world famous" Bride Dash at Filene's. For those of you who may not know, this is when Filene's department store in Boston discounts their bride's dresses to the ridiculous for one day. Bride's and their entourage storm the racks grabbing whatever they can carry. It is a spectacle. However, the pure relief of a bride who just saved $4000 on a dress comes right through the TV.

With that in mind, lets switch gears. The real estate world is going through a similar type of situation. Rates are ridiculously low, their is an $8000 credit for 1st time homebuyers (or those who haven't owned a home in the last 3 years), and the inventory of homes is deeply discounted. But like all sales, this too will come to an end.

If you ever considered purchasing real estate, now might be the right time. We have held 2 home buyer seminars at our office. We had about 35 attendees the first event and 25 folks last night. Come out to RE/MAX Realty Centre on June 3 from 7-9 if you would like to find out if now is the right time.

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for March 2009. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.

The absorption rates for March 09 are much higher than March 08. This is a great indicator for a strong spring market.

Our office has added several CDPEs. These are Certified Distressed Property Experts. They are great agents who can help their clients navigate short sales and foreclosures.

Absorption Rates:

March 2009 11.5% absorption rate

March 2008 8.4% absorption rate

March 2007 16.9% absorption rate

Here is the Clarksburg supply and demand chart for March 2009. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.

Things have really picked up in Clarksburg. Our office specializes in New Home sales. We have seen a major spike in new home sales which in turn has helped the existing home sales as well. We have also added several CDPEs. These are Certified Distressed Property Experts. These are great agents who have added a higher level of training to be able to navigate short sales and foreclosures for their clients.

Absorption Rates:

March 2009 11.3% absorption rate

March 2008 5.9% absorption rate

March 2007 4.2% absorption rate

Here is the Clarksburg supply and demand chart for February 2008. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.

Things have really picked up in Clarksburg. Our office specializes in New Home sales. We have seen a major spike in new home sales which in turn has helped the existing home sales as well.

Absorption Rates:

February 2009 6.8% absorption rate

February 2008 8.1% absorption rate

February 2007 9.4% absorption rate

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for February 2009. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.

The absorption rates for Feb 09 are lower than Feb 08. Freet not, one of the lead indicators is under contract properties. There were 23 properties under contract at the end of Feb 08. There were 28 under contract at the end of this Feb.

Absorption Rates:

February 2009 6.2% absorption rate

February 2008 7.6% absorption rate

February 2007 18.1% absorption rate