“The U.S. housing market continues to show signs of stabilization with a drop in the number of Multiple Listing Service (MLS)-listed homes for the twelfth consecutive month,” according to RISMEDIA.

This comes as no surprise to those of us who practice real estate in the Greater Baltimore Metropolitan Area.  After a very sluggish winter where we saw inventory in Baltimore County reach a staggering 13 months, the spring/summer real estate season brought that number down to 5.5 months.  In a normal real estate market where it is neither a buyer’s market nor a seller’s market, we would see inventory at about 3-4 months.  So, this indicator is very good news.

Fueled primarily by the First Time Buyer Tax Credit, homes priced to attract first-time homebuyers are literally flying off the market if they are in desirable locations, good condition, and priced at fair market value.  We are actually seeing situations where properties are getting multiple offers.

What can we expect to see this fall?  If the number of homes listed continues to decline and buyers remain interested in getting a deal in this market or taking advantage of the First Time Buyer Tax Credit before it expires on December 1, 2009, we may see home prices begin to increase.  After all, it’s all about supply and demand.

Thinking about buying a home and want to know the process from house hunting to moving day?  Consider attending our FREE Home Buying Seminar.

Check out our Best Buys to find a real deal in this market.

Renting and thinking about owning a home?  See the benefits of homeownership and how owning a home may actually save you money.

Wishing you sunshine everyday and the home of your dreams,

Jeri

Whether you are a first-time homebuyer or considering moving to a different home, how do you choose the best home for you?

There are several factors to consider.  Obviously commute time to work, performance of schools that service each area, and proximity to entertainment, shops, and other places that you enjoy are significant issues to consider when choosing a specific location in which to purchase – but how do you choose the best home in your price range?

It’s very simple.  Make a list of your “wants” and “needs.”  Let’s face it, we all WANT granite counters and stainless steel appliances in our kitchens, but we don’t need those in order to cook great meals.  If you have a family with two or three children, you will probably NEED at least three bedrooms in your home.

Understanding what you truly require in a home and what you’re looking for in a location is the best way to weed out homes that won’t work for you and help you focus on the homes that best meet your criteria.

We can help you get started with our Wants vs. Needs checklist.  Once you've completed the checklist, we can further assist you by sending you listings that best meet your needs; we're like your Personal Shopper.

Looking for a good deal that might just meet your needs?  We scour the market and feature three homes each week that we think are real deals.  Check out our Best Buys!

Wishing you sunshine everyday and the home of your dreams,
Jeri

If you are currently renting an apartment or a home, you should really try to do everything you can possible do to put yourself in the position to buy a home in 2009.  After all, owing property over a period of time is a great investment on top of the fact that you get to enjoy the investment.

Every month, you're spending the money and in many cases, the amount of money a renter spends on rent can be about the same as or more than the amount a homeowner spends on a mortgage.

With the tax benefit for homeowners, the savings can be significant.

Right now good homes can be bought for low prices and with the $8,000 First-Time Buyer Tax Credit you can become a homeowner for a very little amount of money.

In fact, last week one of our clients moved into her first home.  The house cost $247,500.  She needed 3.5% for the down payment ($8,667).  The seller contributed $7,000 toward her $8,500 in closing costs.  She will file an amended tax return and receive the $8,000 tax credit.  So - in the end, she purchased a home with only $2,167.

To see if it is costing you more to rent than to own a home, call us at 410-215-4201 or email us today!

If you are interested in learning about the home buying process, come to our FREE, no obligation Home Buying Seminar.

Wishing you sunshine everyday and the home of your dreams,
Jeri

Want to increase your home's resale value by at least $5,000 without it costing you one cent?  Here's the secret - clean it well and keep it clean.  Clean and tidy homes sell faster and for more money than those homes that need a good cleaning.

It's not good enough; however, just to have things put away.  The home should sparkle and smell fresh.

Foul odors, greasy doorknobs, and sticky light switches are a real turn off to buyers and shout, "The house is dirty and has not been well kept!"

So, get some Spic and Span, take out a bucket, fill it with water, and increase your home's value.

Want other tips to help increase your home's resale value with minimal cost to you?  Get our FREE brochure, Pricing and Preparing Your Home to Sell for Top Dollar.

Check out our suggestions on Boosting Curb Appeal.

Wishing you sunshine everyday, the home of your dreams, and a Happy Independence Day,
Jeri