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Real Estate Blog

12/3/2018

Residential home prices made slight gains in October compared to the same period of 2017, according to housing statistics released by Maryland REALTORS.  Average home prices rose by .9 percent, while median prices also rose in October by .5 percent as compared to the same time in 2017.

“The average residential home and median sale prices both made slight gains in October”, said Maryland REALTORS President Merry Tobin. 

“While the 3.8 months of available inventory is a negligible increase over the 3.5 months of inventory in 2017, this will to start dampen consumers enthusiasm impacting everyone’s ability to buy or sell,” continued Tobin. A 6 month to 6.5 month supply is considered to be a balanced market.

The October 2018 sales total

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Hello everyone:

Wanted to blog about what a wonderful property 1313 Treasure Dr., Odenton, MD 21113 is!  The Open House is this Sunday from 1-4 p.m.  More details to follow!  Hope to see everyone there!  

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The State of Maryland has developed a program which allows credits against the homeowner's property tax bill if the property taxes exceeds a fixed percentage of the person's gross income. It sets a limit on the amount of property taxes any homeowner must pay based on their income. It is based on your gross income and net worth. Contact me on how to receive this tax credit. I can e-mail it or send it to you in the mail. This is one of the best kept secrets in Anne Arundel County. If  your gross earnings are under $60,000. and have lived in the property for 6 years, and your net worth does not exceed $200,000. you could qualify. You can also check it out in the Anne Arundel County web site. The county also gives an additional 30% credit if you are 70 years

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According to the Maryland Realtors Association the 2017 residential sales in Maryland climbed by 3.2%, or by 2,500 homes and average sales price rose by 4.0-4.4 %. The sales market overall is stable, and it has been suggested  a healthy trend for Maryland. Inventories are reported at an all time low currently and rates have bumped up. 

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If you’re in the market for a new home or investment property, one of the first questions you’ll probably ask is, “What can we afford?” Many buyers become so caught up in how much they can afford that they don’t realize their total buying power—that is, the total amount of purchasing potential they actually have.

Buying Power Defined
Your buying power is comprised of the total amount of money you have available each month for a mortgage payment. This means the money you have each month after fixed bills and expenses. Any money you’ve saved for a down payment, the proceeds from the sale of your current home, if applicable, and the amount of money you’re qualified to borrow all impact your buying power as well. When you take all of this into account,

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