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November 28, 2008
If you own Laurel real estate, then you probably saw about 380 people run by your house yesterday. Those 380 or so runners were participants in the fourth annual Turkey Trot in Laurel MD. The purpose of the event is to raise money for Laurel Advocacy and Referral Services, more commonly known as LARS. Not only was everyone running for a good cause, but everyone was making room for more turkey on the biggest eating day of the year.
This years event had more runners than in past years and probably raised close to a ten thousand dollars for LARS. People in and around Laurel MD appreciate a good cause and enjoy a good competitive run. There is no better way to start your Thanksgiving day than with a good run for a good cause.
Visit Maryland real estate for more information on Maryland homes.
November 26, 2008
This is the fourth blog about the rate at which homes are selling in various parts of Laurel Maryland. Today’s blog will cover the Absorption rate in the Ann Arundel portion of Laurel MD.
The Absorption rate is the amount of homes listed that are selling in the first 30 days. Currently in Ann Arundel Laurel MD there are 52 homes actively listed for sale. In addition, there are 9 homes listed as pending/under contract. If you add the pending home and the active homes you get a total of 61. Divide 61 by the number of pending homes and you get, .15. This number translates into 15%. In Ann Arundel Laurel MD, 15% of homes are selling within the first 30 days.
Any Absorption rate below 23% is a buyers Market. Laurel MD in Ann Arundel County is a buyer’s market.
For more information about Maryland, visit Maryland real estate.
November 25, 2008
The last two days I have discussed the Absorption rate for Laurel MD in Prince Georges County. In this post I want to show the Absorption rate for Laurel MD in Howard County.
As you recall from previous post, the Absorption rate is the percentage of listed homes that sell within the first 30 days on the market.
In Howard County Laurel MD zip code 20723 there are currently 81 homes actively on the market for sale. In addition there are 9 homes under contract. Applying the Absorption rate formula we divide the smaller number, 9, by the larger number, 81, and get .10. This number .10, translates into 10%. Ten percent of the homes in Laurel MD Howard County zip code 20723 are selling in the first thirty days on the market.
Any Absortion rate below 23% is a buyer’s market. Laurel MD in Howard County is very much a buyer’s market. It is a great time to buy a home.
For more information about Maryland real estate, visit my web site.
November 24, 2008
Yesterday, I wrote about how fast real estate was selling in Laurel MD zip code 20707. Today I am going to discuss the rate at which homes sell in Laurel MD zip code 20708. By the way, the term that is commonly used to describe how quickly homes are sold is called the absorption rate. As I wrote yesterday, the absorption rate for zip code 20707 was 13%.
In Laurel MD zip code 20708 the number of homes currently active on the market is 69. The number of homes currently marked pending/under contract is 16. Using our fomula from yesterday, we divide the lower number, 16, by the higher number, 69. The resulting number,.19, translates to 19%. This means that 19% percent of the homes for sale in zip code 20708 are selling in 30 days. That is to say, the absortion rate for Laurel MD 20708 is 19%.
If the absorption rate is at 23% or less for an area, that area is in a buyer’s market. One interesting note, the absorption rate is 6% higher in zip code 20708 than in zip code 20707. This may be due to there being more single family homes in 20708. And since everything is a good value these days, more people opt for the single family home over a town home or an apartment condominium.
For more information about Maryland real estate, visit my web site.
November 23, 2008
How fast are homes in Laurel real estate moving? Of all the homes for sale in Laurel Maryland, how many of them sell in thirty days or less? Currently, there are 135 active homes for sale in the Laurel MD zip code 20707. In addition, 21 homes in zip code 20707 are currently under contract. Add those two numbers together, 135 + 21 = 156. Now, divide the the number of homes under contract by the total number of homes, 21/156 and you get 13 which translates into 13% of homes available sell within thirty days.
What does that number signify? Is that good or bad? Fast or slow? It is considered a seller’s market if 33% or more homes sell in thirty days. Conversly, it is considered a buyer’s market if 23% or less of homes sell in thirty days or less. As you see above, in Laurel MD zip code 20707 13% of homes sell in thirty days or less. Laurel MD zip code 20707 is in a buyer’s market.
For more information about Maryland real estate, visit my web site.
November 22, 2008
Real estate in Laurel MD seems to be doing pretty well. Laurel MD in Prince Georges County Maryland is averageing about one sold home a day over the last 30 days. Some homes have sold for full price, but most homes have sold for less than full price.
Many of the homes are foreclosures. The good news is that these foreclosures can settle. Many agents and buyers are concerned about haveing to work with a bank, but in Laurel MD it seems to be working out. The numerous foreclosures that have sold can also be an indication that buyers are able to get loans on homes that may not be in perfect condition.
If you are looking for a home in Laurel MD, your options just shrank by about 30 homes. Yes, there is still a lot of inventory, but the best deals still sell faster than everything else. In all of Maryland real estate, all the good homes go first.
For more information about real estate in Maryland, visit my web site.
November 21, 2008
I love owning Laurel real estate this time of year. There are so many festive activities in my Laurel Maryland community. Just a quick look at the Laurel Leader Community section exposes some great fun activities. Some are even free.
This Saturday the 22 of November at the Phelps Senior Center, 701 Montgomery St., there will be a concert performance donated by pianist Floyd Andrew and Woof Entertainment. The concert starts at 7 p.m. The show will feature Broadway show tunes, movie themes and classics. Best of all, its FREE. Light refreshments will be served.
And if you feel like being charitable after that free performance, stop on by the Russett Walmart. This Saturday and Sunday from 11 a.m. to 7 p.m. and donate an uwrapped toy. The Walmart is located at 3549 Russett Green Dr. in Laurel MD.
For more information about Maryland real estate, visit my web site.
November 20, 2008
One of the great advantages of living in Laurel Maryland is the proximity to Baltimore MD. Baltimore MD is just 20 minutes from Laurle MD. Baltimore has many great places to visit. At least once a year the Baltimore attractions allow visitors to sample them for just $1.00. A special thanks to a client of mine, Sharmain, for this information.
Downtown Dollar or Less Days
December 6, 2008 – December 7, 2008 | All Day
Enjoy a holiday treat, as many of Downtown’s attractions
offer admission for $1 or less!
American Visionary Art Museum, 800 Key Highway - $1
Babe Ruth Birthplace & Museum, 216 Emory Street – $1
admission both days, 410.727.1539, baberuthmuseum.com
Baltimore Maritime Museum, Piers 3 & 5 – $1 admission
(per site) Sunday, 410.396.3453, baltomaritimemuseum.org
Baltimore Museum of Industry, 1415 Key Highway – $1
Evergreen Museum & Library, 4545 N. Charles Street – $1
admission both days, 410.516.0341, museums.jhu.edu
Maryland Science Center, 601 Light Street – $1 admission
both days (exhibit hall only), 410.685.5225, marylandsciencecenter.org
National Aquarium in Baltimore, 501 E. Pratt Street – $1
National Museum of Dentistry, 31 S. Greene Street – $1
Port Discovery, the Children’s Museum in Baltimore, 35
Market Place – $1 admission Sunday, 410.727.8120, portdiscovery.org
Reginald F. Lewis Museum of Maryland African American
History & Culture, 830 E. Pratt Street – $1 admission both days,
443.263.1800, africanamericanculture.org
Robert Long House, 812 S. Ann Street – $1 admission both
days, 410.675.6750, preservationsociety.com
Sports Legends Museum at Camden Yards, 301 W. Camden
Street - $1 admission both days, 410.727.1539,baberuthmuseum.com
Top of the World Observation Level, World Trade Center,
401 E. Pratt Street – $1 admission both days, 410.837.VIEW,
USS Constellation Museum, Pier 1, 301 E. Pratt Street -
$1 admission Sunday, 410.539.1797, constellation.org
Walters Art Museum, 600 N. Charles Street – Free
admission both days to the permanent collection, 410.547.9000,
Washington Monument & Museum, Mt. Vernon Place – $1
admission both days, 410.396.1049
For information about Downtown for the Holidays visit
GoDowntownBaltimore.com.
November 19, 2008
The other day I was reviewing the rentals in my Laurel real estate market for a client. At first, we looked at potential sales in a particular neighborhood. The type of home she wanted was listed anywhere from $256K to $429K. This is a huge price range in the same neighborhood.
My client was amazed at the prices. Then she asked me to look at what homes were renting for in the area. I did this rental search and found a home that was renting for $1900 a month. She suddenly became very excited and wanted to look at this home located close to Laurel MD in Silver Spring MD.
I was surprised at her reaction. I explained to her that if she could afford a $1900 month rental, she could afford a mortgage of $280K. She didn’t realize that. Not only that, but because of the tax deduction, a $1900 mortgage payment is actually about $300 less than a $1900 rental payment.
It appears the housing maket has now caught up to the rental market. Buyers need to be aware of this change. Many people in the Laurel Md area, think they can rent for less than what they would pay in a mortgage. This may not be true anymore. A buyer needs to check rental payments as compared to mortgage payments.
For more information about Maryland real estate, visit my web site.
November 18, 2008
I grew up in Montgomery County Maryland. I rarely went into Prince Georges County Maryland. Those of us in Montgomery County thought Prince Georges County was a vast wasteland.
Well, the years go by, I meet my wife, have a child and now I own real estate in Laurel MD. Now I live in Prince Georges County. The years go by and my life in Montgomery County Maryland seems so far away. On occassion, when I am showing property, I drive through an old neighborhood I use to know. I see houses where some old friends use to live. I find myself, like all of us, wondering, ‘What ever happened to so and so?’
Well now I know
Old ’so and so’ has looked me up on Facebook and found me! I am amazed at how Facebook has brought my past back to life. Just yesterday, a woman I knew when I was 13 dropped a note in my email asking how I have been. That was 35 years ago! But I do remember her.
And she knows people. People from my past. Suddenly, my past is coming at me at warp speed! Now it dosn’t matter where I live….the tech age keeps us all connected.
If you are reading this Blog, then I know this happens to you.
If you have bought real estate in Maryland, or anywhere else in the world, we are just a few key strokes apart.
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Brien Berard
RE/MAX
13994 Baltimore Ave.
Laurel, MD 20707
Phone: (301) 604-0198
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