Annual Year Over Year Average Sold and Median Sold Price Charts
March 3, 2011. Our Annual YOY Average Sold Price Chart is a graph that compares the changes to average sold prices on a year over year basis for 9 central Maryland counties over the last 12 years. As with the other graphs, it is representative of all residential property types, e.g. it is a consolidation of condos, townhomes and detached single-family homes. We also offer an Annual YOY Median Sold Price Chart that compares the changes to the median sold prices on a year over year basis. The median chart represents the price point where 50% of the sold properties are above the price point and 50% of the sold properties are below the price point.
PLEASE NOTE: you must have Adobe Reader installed on your computer in order to view the graph.
Updated 9 County Sales Comparison Chart for July 2004 – January 2011
UPDATED February 17, 2011. Our January 2011 Real Estate Price Trend Chart is a graph that compares the changes to average sold prices on a month-by-month basis for 9 central Maryland counties over the last 6+ years. As with the other graphs, it is representative of all residential property types, e.g. it is a consolidation of condos, townhomes and detached single-family homes.
PLEASE NOTE: you must have Adobe Reader installed on your computer in order to view the graph.
Updated 9 County Sales Comparison Chart for July 2004 – November 2010
UPDATED December 11, 2010. Our December 2010 Real Estate Price Trend Chart is a graph that compares the changes to average sold prices on a month-by-month basis for 9 central Maryland counties over the last 6+ years. As with the other graphs, it is representative of all residential property types, e.g. a consolidation of condos, townhomes and detached single-family homes.
PLEASE NOTE: you must have Adobe Reader installed on your computer in order to view the graph.
E.H.L.P. should be named H.E.L.P.
HUD calls it “E.H.L.P.”
Isn’t it just like a bureaucrat to miss an opportunity?
Folks, if you or someone you know is behind at least 3 months in their mortgage payments, and they financially qualify for this newly hatched “fix”, they can get up to $50,000 in government assistance, which NEVER has to be paid back — EVER — provided that when the home is sold, the owner does not receive any proceeds (e.g. a short sale, which most assuredly would be the case).
You can view full details by clicking here. (opens new window as video introduction)
I’ve also uploaded a companion HUD document (.pdf) that describes all the details behind this give-away.
ehlp_guidelines (opens new window as .pdf)
What are they thinking?
Finally! A Clear & Concise Explanation of the Fed’s Quantitative Easing Policy
Trick or treat from the Obama Administration
At first I thought this was a Halloween trick, but it could evolve into a nasty trick on all homeowners throughout the U.S., not to mention future chances of a housing recovery. The Administration is now -seriously- considering the elimination of the home mortgage interest deduction. No, I’m not kidding.
First, view this video.
When you still haven’t quite believed what you heard, click here to go directly to the story in the Wall Street journal.
This is just absurd, and only points out just how disconnected the Administration really is when it comes to sound fiscal policy and plain common sense. Maybe this is their way of spanking us all for the mid-term elections. Ya think?
Foreclosure Fiasco
What does the current foreclosure fiasco mean to you? What does it portend for the banking industry?
Find out some essentials right here. (opens new window)
FORECLOSURE FIASCO IN A NUTSHELL
Are you confused as to what is happening? Let me boil it down for you:
The manner in which banks have transacted loans has essentially separated the loan paperwork from the chain of title, e.g. who owns the property. Repayment of the mortgage is the responsibility of the homeowner, but if the bank does not hold title to the property, they have no recourse to foreclose. Thus, many banks have halted foreclosures until they can thoroughly review the paperwork and determine if they have the right. If a banking institution cannot prove that it has title to a given property, they cannot foreclose on it. If this is the case, the loan is no longer secured by the property, and that’s a major problem.
2D – 3D Floorplan Software at No Cost
It’s always fun to discover no-cost solutions. Just today, I found an online program that allows you to design 2D or 3D floorplans and even place furniture in it. To fully appreciate the power of this freely accessible program, just go to:
You can either download the software to run locally on your computer or you can use it online via your internet browser. The online resource does require pre-registration.
For anyone who needs the versatility of placing furniture in a floorplan, this is a great solution. For new buyers, if you want to visualize what your rooms will look like BEFORE committing to purchase, this program is a must-have. And, the price is right — it’s free!
Could Higher Interest Rates Lead to Market Recovery?
Call me crazy, but hear me out.
Historically in a normal real estate market, when mortgage interest rates fall, home prices go up or at least stabilize. During the recent past, we’ve seen prices continue to erode, even as interest rates fell. To make matters worse, the buying public has been content to remain on the sidelines, preferring to wait out the bloodbath. Why be in a rush to buy with both interest rates AND home prices falling?
That led me to think about what could occur if interest rates actually rose. Would the buyers sitting on the sidelines finally be motivated to actually purchase? I think that if even 20% jumped in response, we’d probably see a stabilization in the market. Once that was generally seen by another 20-25% of the buyers, perhaps there might be another rush to purchase, and interest rates could again rise, fueling continued market recovery.
As crazy as it seems on the surface, higher rates might very well be the answer, providing a path to higher home prices as buyers respond. Hey, it’s a wacky world “out there”. I’m sure this new relation between mortgage rates and market activity wouldn’t play out indefinitely, but it might just be the fix to the mess.
Real Estate Economy Watch
I discovered an interesting online resource today called, “Real Estate Economy Watch” (as if you weren’t already overloaded with information). It does appear to offer straight opinion on where the markets are currently positioned, as well as prognostication re: where we are apparently headed. Be sure to look at the posting dates, since some of the remarks are somewhat dated. Here’s the link:
http://www.realestateeconomywatch.com/
Enjoy!
Metro Referral Associates, Inc.
