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Annapolis Maryland
Homes for Sale
and Real Estate News
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| | HOMES FOR SALE IN ANNAPOLIS MARYLAND AND SURROUNDING AREAS
"Martha Brown & Nichole Brady" providing a
Full Menu of Real Estate Services in
Annapolis, Arnold, Bowie, Chesapeake Beach, Chester, Crofton, Crownsville, Davidsonville, Deale, Dunkirk, Eastport, Edgewater, Galesville, Gambrills, Harwood, Huntingtown, Lothian, Mayo, Millersville, Odenton, Pasadena, Prince Frederick, Queenstown, Riva, Severn, Severna Park, Shady Side, St. Leonard, Stevensville, Upper Marlboro,Waldorf
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| Martha Brown Realtor®
Nichole Brady Realtor®
2191 Defense Highway
Suite 120
Crofton, MD 21114
(410) 440-7839 Direct Martha
(410) 721-1500 x5020 Direct Nichole
(410) 721-1500 Office
(410) 721-1863 Fax
martha@lnf.com
nichole.brady@longandfoster.com
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Gosh, who ever thought Real Estate could be this much work?!
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| If you have been thinking this just is NOT the best time to be buying Annapolis area real estate please read on.
Its a Buyers Market
Remember the old adage, buy low and sell high? Well this is the Annapolis area real estate market to do just that. After 5 years of astronomical home price increases, prices have dropped upwards of 20% and in some areas have already begun to level off. This is good news because it shows that the market is working hard to re-adjust but it also means the decline will be shorter over the long haul. The rumblings in the Annapolis area real estate world is that we may already be playing around at the bottom.
Inventory Is High
Two to three years ago there was very little to choose from in the Annapolis area real estate market. Buyers were fighting over what few properties were available and putting in offers higher than asking price. Insane? Yes it was. Today's Annapolis real estate market offers many great choices and that means you have a voice once again in what is best for you.
Inspections Are Important Again
Buying a home without the necessary inspections was never a good idea. Yet when we were in the Sellers market many homes were bought just that way. No Inspections. Unfortunately, many Buyers from that time are wishing now that they had done a home inspection. Today's Buyer's market offers YOU that peace of mind once again.
Mortgage Money IS Available
Though the Annapolis area real estate market was not hit as hard as some areas with the 'easy money' loans there are still pockets of areas that were. For instance, Prince George County was one of those pocket areas and many of the homes for sale there are bank owned. But since the whole idea of buying a home is to live there for years to come it is a good thing you now need to qualify properly for a loan. Todays mortgage money has stricter guidlines but money is available. Ask us and we will be happy to point you in the right direction to a qualified mortgage lender in the Annapolis area.
But Now I Need More Money to Buy
That is true. Gone for the most part are the 100% finance options and yes lenders are requiring more of your hard earned money to be a part of the transaction. But Sellers are stepping up to the plate and offering to pay some or all of your closing costs which is a big help and one to take advantage of. And FHA mortgages are a great way to invest in a new home with their higher debt to income ratio, lower down payment requirements and great interest rates. There ARE ways to buy in todays market.
But Prices May Go Lower
and interest rates and loan standards and taxes and.... If only we had a crystal ball that could forsee the future. You and I would be rich!! No one EVER knows when the bottom has been hit until it has already been passed. And by then we already heading back up. That is truly the only way we ever know. Bottom line is any day is a good day when the reason you are buying is to invest in your future. The tax benefits are huge in the long term and the satisfaction of owning your own slice of America is deeply satisfying no matter what the market. And who knows, you just may be buying at the bottom anyway.
I just can't Buy right now and must rent
Then rent you must. The Annapolis area rental market is bursting and we can help you find the perfect rental home until that time comes when buying is part of your future.
But I am a Seller you say. My concerns are that:
It's a Buyer's Market
If you bought your home before the last upswing you are still reaping the benefits. A 'normal' Annapolis area yearly market appreciation is 5% or less. You reaped the benefits of a 10-30% yearly appreciation for over 5 years.
Inventory Is Too Large
Ahh yes, you do have competition now and in some markets more than others. Days on market will be longer too as there is more to choose from. Yet a well kept home, a well staged home and a well priced home will SELL in any market. Getting those 3 key factors in order is what we specialize in when working to sell your home in the Annapolis area market.
Home and other Inspections
They are back and they are really a very good thing for you. Now when you move you can do so with true peace of mind knowing everything a Buyer needs to know about the house has been done and accepted. No after sale surprises.
Mortgage Money is Tight
Which means your Buyer is coming to you approved to purchase and when you receive that offer you know your Buyers ARE ready to make the move.
But It Will Cost Me More
You could wait until the next Annapolis area market upswing but they are few and far between. Historically a 'normal' market is a Buyers Market and they out number a Sellers market 4-1. Yes your bottom line will look different then it would have a few years back but....if the number you receive allows you to move forward with your life then you have truly succeeded. And.... if you are selling because you want to downsize or move up or move away then you will be getting the same rewards on your new purchase that Annapolis area Buyers are getting on your sale.
But I am Selling Because....
If you are selling because you NEED to get out from under for whatever reason then it is imperative that you work with Realtors® like us who can help you do so. We have the knowledge and resources to help you move on when a difficult situation arises.
Ok, so you have decided that selling is not what you want or need to do, that you are happy where you are. Great! How about expanding your real estate portfolio by investing in some Annapolis area rental properties or even a second home? The same buying opportunities are out there for you so why not take advantage of the Buyers Market yourself?
Whether Buying or Selling in the Annapolis area real estate market we are here to help you make good, sound buying and selling decisions no matter what kind of market we are experiencing. After all we have been around the Annapolis area real estate market for awhile, 17 years to be exact, and we are still going strong when many agents have thrown in the towel.
And Oh By The Way
We appreciate you being here and hope you take the time to click through some of the Annapolis area links provided on the left. If we can help you in any way please feel free to contact us as we are never too busy to answer any of your questions, to walk you through the home buying or selling process or to bring you up to speed on today's Annapolis area real estate market and how you could benefit from it.
Martha Brown CRS GRI Realtor®
Nichole Brady Realtor®
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