Prosperity Mortgage, a joint venture of Wells Fargo and Long and Foster, is offering a $500 discount on their fees for eligible first time home buyers. This non-cash offer will be applied at closing.
Contracts to purchase a home have to be ratified on or after 9/26/09 in order to qualify. Loans have to be closed no later than November 30, 2009. The time is short but the benefit is great.
Couple this with the $8,000 federal tax credit and you have a powerful incentive to move quickly on finding that first home.
For additional information and eligibility requirements you can contact Ann Burke, Home Mortgage Consultant, Prosperity Mortgage, at 410-721-6207.
If you're not already working with a Realtor buy your first home and to take advantage of the $8,000 federal tax credit, I can help. Call me at your convenience at 443-995-9595. Don't wait too long because the time is quickly running out. This is the only tax credit on the table right now, and there is no guarantee that it will get extended.
If you're SEARCHING for a home anywhere in Maryland, click here to view ALL ACTIVE LISTINGS.
Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com
Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist
©2009 - RichSellsHomes, All Rights Reserved
Statistics in Anne Arundel County MD are in and one of the interesting pieces of data to look at is where people are getting their money to purchase homes.
As you can see, 175 buyers used FHA financing to purchase their home. FHA financing is very attractive right now because of the lower down payment requirements. If you qualify, you can get an FHA loan by putting down 3.5% of the purchase price of a home.
In Anne Arundel County MD, the number of conventional loans were just under those funded by FHA.
VA loans are still popular because you can get a VA loan without putting any money down. Considering the amount of military installations in the county, VA loans will continue to remain popular.
I don't know about you, but I was surprised to see that 41 homeowners were able to purchase their house with cash. I'm impressed, considering the Average Price of a home in Anne Arundel County MD was $360,557.
If you're SEARCHING for a home anywhere in Maryland, click here to view ALL ACTIVE LISTINGS.
Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com
Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist
©2009 - RichSellsHomes, All Rights Reserved
| 2009 | 2008 | % Change | |
| Sold Dollar Volume | $3,784,785 | $3,443,400 | +9.91% |
| Average Sold Price | $344,071 | $430,425 | -20.06% |
| Median Sold Price | $290,000 | $391,500 | -25.93% |
| Total Units Sold | 11 | 8 | +37.50% |
| Average Days on Market | 187 | 148 | +26.35% |
| Average List Price for Solds | $397,368 | $469,507 | -15.36% |
Gambrills MD is a large, spread out community, but rarely has the number of sales of neighboring communities like Crofton and Odenton MD. This is due to the more rural nature of Gambrills MD. Many of the homes in Gambrills MD are on multiple acres, unlike Crofton and Odenton MD.
Total sold dollar volume seems to have stabilized and actually increased almost 10% when comparing August 2009 to August 2008.
Both average and median prices are down reflecting more purchases in the lower price ranges. You can see this pretty clearly from the Average List Price for Solds data row. A reduction of -15.36% from last year.
Days on the Market to sell a property increased +26.35% in Gambrills. It now takes, on average, 187 days to sell your Gambrills MD home. Gambrills MD is a wonderful community with excellent home values.
Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com
Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist
©2009 - RichSellsHomes, All Rights Reserved
| 2009 | 2008 | % Change | |
| Sold Dollar Volume | $9,072,291 | $16,591,700 | -45.32% |
| Average Sold Price | $348,934 | $345,660 | +0.95% |
| Median Sold Price | $342,000 | $297,000 | +15.05% |
| Total Units Sold | 26 | 48 | -45.83% |
| Average Days on Market | 59 | 85 | -30.59% |
| Average List Price for Solds | $380,357 | $367,389 | +3.53% |
The Crofton MD real estate market took quite a hit when comparing August 2009 to the same period in 2008. A 45% reduction in the sales volume and units sold is very uncharacteristic of the Crofton MD market. I don't believe that there is any specific reason to point to, especially since overall sales in Anne Arundel County were up once again.
It does seem though, that new listings are selling quickly. This can be evidenced by the Average Days on Market reduction of -30.59%. That is a pretty big reduction from the same period last year. Inventory is down and good priced listings are selling, in some cases with multiple contracts.
Median and Average sales prices are creeping up but in reality, that is just a reflection of higher priced homes being sold during this period. Oddly, since the first time home buyers market is the one that is very active right now, many of the homes that sold in Crofton MD were in the price range over $500,000. Certainly not a first time home buyers range.
The sales statistics for Crofton MD will stabilize again. Right now, the real estate market in Crofton MD is pretty robust and that doesn't seem to be changing any time soon.
Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com
Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist
©2009 - RichSellsHomes, All Rights Reserved
A slow week after Labor Day saw Crofton MD with four houses going to settlement. Once again, three of the settlements were in the price range below $250,000. This is the price range which is the sweet spot for first time home buyers. The fourth house was a nice Colonial priced at $403,000.
So what did last week tell us about potential future settlements? Three houses in Crofton MD moved to the Contract stage. At this point, all contingencies are removed and settlement is approaching.
No houses went under contract with a kickout.
Five houses went under contract with no kick out. Some contingencies still exist but a contract with no kick out is pretty solid.
Three new rentals became active last week in Crofton MD. Monthly rental prices ranging from $1,325 to $1,800.
Eight houses became Active in the Crofton MD market. Three of them priced below $300,000 continue to provide a good selection of inventory to choose from for first time homebuyers.
This is just another reminder for first time home buyers that the $8,000 tax credit is set to expire on November 30th. You should be out there seriously looking in order to be able to settle before November 30th. You still have a little time but don't delay.
If you're not already working with an agent to get into your first Crofton MD home, I can help. Just call me at your convenience at 443.995.9595.
Overall, not a bad week for Crofton MD home sales.
Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com
Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist
©2009 - RichSellsHomes, All Rights Reserved
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Serving discriminating buyers and sellers in the Anne Arundel, Prince Georges, Howard, Calvert and Queen Anne Counties in Maryland. Call Rich at 443-995-9595 for the real estate service you deserve
To search for all active listings in Maryland, Virginia and the District of Columbia use http://www.RichSellsHomes.com
Welcome to Crofton, MD. As a sales associate working for Long and Foster Real Estate, Inc. I feel priviledged to work with buyers and sellers all throughout Anne Arundel and surrounding counties.
Crofton is a destination place for buyers moving into the area. We're ideally situated about 30 minutes out of Washington, DC to the south and 30 minutes out of Baltimore to the north. Travel east about 10 minutes and you're in the Capital of Maryland, Annapolis. Each of these cities is a thriving employment area, making Crofton an ideal location.
My family and I moved to Crofton in 1991 and used the same criteria that buyers today use when looking for a home. Great location, good schools and safety. After looking at several communities in the area Crofton was our number one pick and we've never looked back. It has been a wonderful small city to raise a family.
The kids are grown and out now and living in nearby Baltimore County. My wife and I are still in Crofton and plan on remaining here for quite some time.
You're in luck...my two Schnoodles like everybody.
When you're on the Internet, you don't have time to waste on endless searches for useful real estate information. You want to get things done quickly and without hassle. So chances are you'd like a real estate agent who
Enter the e-PRO.
An e-PRO is a REALTOR® who has successfully completed the e-PRO training program for real estate professionals. Endorsed by the National Association of REALTORS®, the e-PRO course teaches professionals the nuts and bolts of working with real estate on-line: Web sites, e-mail, on-line tools, and most of all, what today's consumer really wants.
I have been an e-PRO for 4 years and use only the latest in technology to help assist buyers and sellers in realizing their dream of home ownership.
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A grandchild changes everything. Rich and Jackson, 10/08.
Rich Iarossi
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
410-451-6255 Office
443-995-9595 Cell
www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com
My main area of expertise is working with renters, buyers and sellers in the residential real estate market.
Valerie Martin
“Rich, my salesperson was excellent. Attention to my wants and method of house hunting, attention to details above and beyond expectations.”
Roger and Thuy Castillo
“We loved Rich and would recommend him to any and everyone. Rich served us above and beyond his duties. He was knowledgeable and trustworthy.”
Michael and Joanne Haskins (Vice Admiral - Retired)
“Rich was the perfect realtor for us – patient, knowledgeable. He made the whole process a very pleasant one.”
Peg Hardy
"When it comes time to sell Rich is going to be my agent. I'm picky and it took some time but he was patient and we found the perfect house."
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