Date 10/11/09
Market Area: Howard County, MD 21794
Time Frame: 4/11/09 - 10/11/09
General Market Conditions:
Current Market Condition: Slow.
Employment Conditions:Declining.
Market Price for This Zip Code Has: Decreased By 3.73% in the past 6 months.
Estimated Percentages of Owner vs. Tenants in Neighborhood: 100% Owner Occupant 0% Tenants.
There is an over supply of active listings. Approximate number of units for sale is: 21.
Number of units that are Pre-foreclosure stage: 2 (not listed in MRIS).
Number of units that are Short Sale Stage: 3 (listed in MRIS).
Number of units that are REO or Corporate owned: 1
Market Activity
Range of values is $400,000 to $965,000.
Normal marketing time is: 192 Days (last 6 months).
Resale Comments:
My independent MRIS research shows that there are currently 21 homes on the market in the 21794 zip code. Most of these homes are overpriced or are in less than ideal condition that do not attract buyers and just sit on the market. The average day's on the market for these active properties is 147. There are currently 4 properties under-contract. These buyers have found and are expecting and getting a great value-a good home at a good price and with all the competition for their attention, they have a lot of choices. These buyers are really picky. There were 6 properties that sold in the last 60-days. The average day's on the market was 184. Buyers have a sense of what's fair market value and what's not and they just won't show up if sellers are not in the ballpark. There is currently 9.13 months of inventory on the market in the 21794 zip code. It's very important that sellers price their home correctly and competitively. Buyers are looking for value pricing and if sellers don't meet these expectations, they'll be overpriced and overlooked.
Prepared By:Aaron Rice, CDPE, CLHMS, CRS, GRI, SHS
www.LuxuryDistressedPropertyExpert.com
Learn Short Sales and Help Homeowners: CDPE is 22-Days Away!
We have the chance to turn the challenges of today's market into real OPPORTUNITY while helping hundreds of troubled homeowners in our area. And we believe the CDPE Designation will help us to do just that!
So, we've decided to bring the CDPE training course to the Sheraton Baltimore City Center Hotel 101 W. Fayette St Baltimore, MD 21201 to help you learn how to increase your transactions while improving the communities we serve and even the impression of our industry as a whole.
CDPE Live! Designation Course:
Sheraton Baltimore City Center Hotel 101 W. Fayette St Baltimore, MD 21201
Today, the CDPE foreclosure avoidance education will help you become profitable, but creating a positive impact in the lives of distressed homeowners is priceless. Being a CDPE means being a part of the CDPE Nationwide Movement within the real estate industry. Learn more about Wells Fargo's Commitment to the Short Sale Process, including the application activation, what is important to the initial negotiators file review, BPO's, mortgage insurance approval, investor approval, tips on how to negotiate additional lien releases, and realistic time frames. Critical Information you need to know to manage proper expectations.
http://www.cdpe.com/wellsfargo
Our company has been able to negotiate a $100 discount for you to enroll in the CDPE Live! Course. Register with the code-DISC100-and you can take the CDPE course for the exclusive price of just $499!
These events often sell out, so we encourage you to register now to secure your seat, or call 800-482-0335.
Let's do something great together!
We'll see you there!
Aaron Rice
The U.S. Treasury Department estimates that as many as nine million homeowners will face foreclosure in the next 36 months. These are homeowners in distress - families facing crisis. America's real estate professionals are rallying to help. But first, real estate professionals must arm themselves with up-to-date information.
Visit www.MyForeclosureAlternative.com for more helpful information.
Join us at these Free Short Sale Listing Systems Classes:
Thursday Sept 10th 1:30p-3p Keller Williams - Ellicott City
Thursday Sept 17th 1:30p-3p Keller Williams - Baltimore
Saturday Sept 19th 10a-11:30a Century 21 AAA - Clinton, MD
Monday Sept 21st 6:30p-8p Exit Bennett Realty- Registration Closed
Wednesday Sept 23rd 1p-2:30p Keller Williams - Millersville
Thursday Sept 24th 1p-2:30p Keller Williams - Rockville
Tuesday Sept 29th 9:30a-11a Hill & Co. Baltimore: Registration Closed
The National housing market may not stabilize until the 1st quarter of 2011. Foreclosure activity hit an all-time high in the 1st quarter of 2009. Twelve percent of all mortgages are at least one payment delinquent says the Mortgage Bankers Association. Not only has foreclosure activity surged, it's become more widespread, as prime, fixed rate mortgages now constitute 56% of mortgages in the foreclosure process. Source: Housing Wire.
Visit www.MyForeclosureAlternative.com for helpful tips and more information.
Click: http://client.imprev.net/23/16923/209194/209194.pdf to print the Luxury Foreclosure Trends Report
June CDPE Mastermind Meeting ~ Wells Fargo Loss Mitigation Dept. Unplugged!
Hosted By: The Marra Group ~ Wells Fargo Home Mortgage
What: Certified Distressed Property Expert (CDPE) June Mastermind Meeting
Where: Turf Valley Resort ~ Ellicott City, MD
Why: Mastermind with Wells Fargo Loss Mitigation Management about the short sale process
When: Thursday June 11, 2009 11:00am - 1:00pm
RSVP To: aaron@baltimorehometeam.com by Monday June 8th 5pm.
Click http://client.imprev.net/23/16923/205194/205194.pdf to print the event flyer
Goto www.BaltimoreEventsTeam.com for more information. 
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