Frederick County Maryland is Officially a Sellers’ Market !


Frederick County Maryland is Officially a Sellers’ Market !

The real estate market has been improving dramatically nationwide and Maryland has been no exception. Frederick County Maryland has been showing dramatic improvement over the past several months and officially moved into a sellers’ market in May of this year.

Sellers Market

One number that real estate professionals keep a close eye on is the Months of Inventory. Months of Inventory indicates the number of months it would take to sell all of the inventory currently on the market in a given area at the current rate of sales. For example: If there are 300 homes for sale and 30 homes are being sold per month, you would have 10 Months of Inventory.

If there are more than 6 months of inventory on the market it is considered a buyers’ market; 3 – 6 months it is a neutral market that neither favors sellers’ or buyers’; less than 3 months of inventory and it is considered a sellers’ market.

The May statistics were just released and Frederick County currently has 2.7 Months of Inventory making it officially a sellers’ market. Although Maryland overall is still in the neutral range, some counties like Montgomery, Howard and Prince George’s Counties have been in the sellers’ market for a few months.

But there is good news for buyers’ also. Mortgage interest rates remain very low and it appears that the rates will not increase dramatically for some time to come, but the day is coming when they will be edging up.

Buyers’ need to be mindful of the market conditions and prepare accordingly. Working with a REALTOR® who can work with you every step of the way is critically important. Contacting a mortgage broker and having a pre-approval ready when you want to make an offer will go a long way in getting the home you want.

If you are thinking of buying or selling, talk to a real estate professional – talk to a REALTOR® – who can give you the information you need to make an informed decision.

As always, if I can help with any of your real estate needs, please feel free to text or call me at 301-712-8808 or email me at RolandLow1@gmail.com.

Roland

What Every REALTOR® Wants You To Know – Mortgage Rates


There has been talk for a long time that mortgage interest rates were going to go up. Now may be the time. But maybe not, and if it does, it most likely will not rise dramatically.

up and down

Janet Yellen Chairperson of the Federal Reserve Board spoke at Harvard University the end of May. During that speech Yellen stated that a rate hike is “probably” appropriate in the near future. Couple that with the fact that the unemployment rate dropped from 4.9% to 4.7%.

However, one of the problems in the economy right now is that the new construction is not at a level where experts would expect it to be: But the real issue is that consumer confidence is slightly lower. And that confidence is what is most likely keeping the real estate market from increasing dramatically.

If you are thinking of buying or selling, talk to a real estate professional – talk to a REALTOR® – who can give you the information you need to make an informed decision.

As always, if I can help with any of your real estate needs, please feel free to text or call me at 301-712-8808 or email me at RolandLow1@gmail.com.

Roland

Real Estate Scam Alert


The National Association of REALTORS and the FBI are investigating a real estate scam that recently occurred.

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Hackers were able to access data and sent a fraudulent email that appeared to come from the agent to folks scheduled to close on a house. The hackers sent an email to the buyers right before closing instructing them that there was a change in the phone number that the money should be wired too.   Needless to say these numbers were not correct and if the change was not questioned the funds were transferred to most likely an offshore account.

Anyone that receives last minute changes to a closing should always verify with their REALTOR.

If you are thinking of buying or selling, talk to a real estate professional – talk to a REALTOR – who can give you the information you need.

As always, if I can help with your real estate needs, please feel free to text or call me at 301-712-8808 or email me at RolandLow1@gmail.com.

Roland